Rise in the number of contract research organizations (CRO), innovations in the devices used for small imaging technological advancements, and increase in number of drug trials due to rise in the incidence and prevalence of chronic diseases such as rheumatoid arthritis, cancer, cardiovascular & neurological disorders are some of the factors bolstering the preclinical imaging market growth. The huge cost of equipment, lack of skilled personnel to handle the equipment and lack of proper infrastructure are hindering the growth of the market. Furthermore, restrictions on animal drug testing by animal rights organizations are the major factors hampering growth of the market.
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The preclinical imaging market has been segmented by type of product, application, and end-user
Based on product type, preclinical imaging market segmented as:
Single Photon emission computed tomography (SPECT)
Micro Computed Tomography (Micro-CT)
Magnetic Particle Imaging
Magnetic Resonance Imaging (MRI)
Positron Emission Tomography (PET)
Reagents and Kits
Based on of application, preclinical imaging market is segmented as:
Research and Development
Based on the end-user, preclinical imaging market is segmented as:
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Surge in adoption of sophisticated diagnostic technologies coupled with increased early diagnosis have expected to accelerate preclinical imaging market. According to American Cancer Society, 14.1 million new cancer cases were diagnosed and 8.2 million cancer deaths in 2012. Companies adopting product innovations to increase their market share. Currently, the most used imaging modalities are optical (fluorescence and bioluminescence), PET, and MRI. In addition, multi-modalities such as PET+CT and SPECT+CT are the most used imaging combinations. In-vivo imaging is increased usage in target identification, compound optimization and pre-Phase I study, and in the drug development process. Thus, it bridges the gap between in-vitro exploratory and in-vivo clinical research. Regions such as Latin America, Middle East, and Asia Pacific are witnessing an increase in foreign investments that is leading to greater revenue generation, for the market growth.
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Geographically, global preclinical imaging market is segmented into Europe, North America, Latin America, Asia Pacific, and Middle East & Africa., North America expected to grow at significant rates due to increase in adoption of new technologies for better clinical outputs, technological advancements, and growing prevalence rates chronic diseases such as cardiovascular disease, cancer. According to the National Cancer Institute, in 2017, about 1,685,210 new cancer cases are expected to be diagnosed. Europe is expected to be another major market for preclinical imaging owing to factors such as increase in healthcare awareness among people and research and development activity for treating and preventing diseases. Asia-Pacific preclinical imaging market expected to show lucrative growth opportunity owing to cost-effective clinical and preclinical imaging services, coupled with favourable government policies.
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Major players operating in preclinical imaging market include FUJIFILM Holdings Corporation (Japan), MR Solutions (U.K.), PerkinElmer Inc. (U.S.), Siemens Ltd (U.S.), Miltenyi Biotec (Germany), Aspect Imaging (Canada), MILabs B.V. (Netherlands), Bruker Corporation (U.S.), Mediso Ltd. (Hungary), TriFoil Imaging (U.S.), and Carestream Health (U.S.) to name a few.