Small Animal Imaging Market Expansion Projected to Gain an Uptick During 2020

Transparency Market Research (TMR) has recently published a report on the global small animal imaging market, according to which, the market is projected to rise at a healthy CAGR of 8.60% during the period from 2014 to 2020.The research report, titled “Small Animal Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” anticipates this market to increase from an overall value of US$1.5 bn in 2013 to an estimated value of US$2.7 bn by the end of the forecast period.

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Small animal imaging technology has carved a niche for itself as one of the most helpful techniques used in preclinical research. The technology is mainly for obtaining preclinical images of small animals such as rats in order to carry out gene expression studies and various drug development research activities. Being a non-invasive technique, it provides an accurate and detailed longitudinal study on the subject.

The global market for small animal imaging market is witnessing a steady rise in its valuation thanks to the rapid proliferation of contract research organizations (CROs) in developing economies. This in turn is fueling the demand for contrast agents and preclinical imaging devices. The rising uptake of optical and multi-modal imaging devices in the global arena is also boosting this market significantly, notes the study.

In this research report, the global small animal imaging market has been evaluated on the basis of the device, reagent, application, and the region. Based on the device, the market has been classified into micro-MRI imaging, micro-CT imaging, micro-PET/SPECT imaging, micro-ultrasound imaging, optical imaging, multi-modal imaging, and micro-PAT. In 2013, the micro-MRI imaging devices segment held around 27 to 31% share and the optical imaging devices segment accounted for a share of approximately 12% to 17% in the global market.

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The report has identified MRI contrast reagents, CT contrast reagents, nuclear imaging contrast reagents, ultrasound contrast reagents, and optical imaging contrast reagents as the major reagents available in this market. Cardiology, neurology and psychiatry, oncology, autoimmune diseases have been recognized as the prime application areas of small animal imaging market.

On the basis of region, the report has classified the global market for small animal imaging in Asia Pacific, North America, Europe, and the Rest of the World. North America dominated the overall market in 2013 and was closely followed by Europe. The increase in product launches, rise in preclinical research activities, and the escalating adoption rate of expensive devices have been driveing these regional markets since the last few years.

During the forecast period, the small animal imaging markets in Asia Pacific and the Rest of the World are likely to record a significant rise in their share due to the increasing number of CROs and the growth in the industry-based funding to conduct preclinical research, states the report.

The worldwide market for small animal imaging has consolidated in the recent past. Targeson Inc., SCANCO Medical AG, Siemens AG, Promega Corp., Perkin Elmer Inc., Miltenyi Biotec GmbH, FujiFilm VisualSonics Inc., LI-COR Biosciences Inc., TriFoil Imaging Inc., Bruker Corp., Aspect Imaging, and Agilent Technologies Inc. are the key companies operating in the global small animal imaging market, reports the research study.

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This release was published on openPR.