Global Small Animal Imaging Market is projected to grow at a CAGR of 6.91% during the forecast period 2020-2027

A new research report published by Fior Markets with the title Small Animal Imaging Market by Technology (Optical Imaging System, Micro Magnetic Resonance Imaging (MRI), Micro Computerized Tomography Systems (CT), Nuclear Imaging, Ultrasound Systems, Photoacoustic Imaging Systems, Digital Angiography, Magnetic Particle Imaging (MPI) Systems and Others), Reagents (Nuclear Imaging Reagents, Optical Imaging Reagents, Ultrasound Contrast Agents, CT Contrast Agents and MRI Contrast Agents), Applications, Region and Global Forecast 2020-2027.

The global small animal imaging market is expected to grow from USD 974.08 million in 2019 to USD 1662.42 million by 2027, at a CAGR of 6.91% during the forecast period 2020-2027. North America is the dominant region in terms of market share because of the favorable government policies, coupled with increased presence of manufacturers in the region. Also, the availability of advanced technology and growing healthcare awareness has contributed significantly to the market growth. However, Asia-Pacific is projected to grow at the highest CAGR during the forecast period. The region is witnessing a higher prevalence of chronic diseases, and thus the drug discovery processes have been focused upon, which has led to the growth of the market in the region. The investments in the research and development activities have increased over the years.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

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Key players of the small animal imaging market are Thermo Fisher Scientific, PerkinElmer Inc., Promega Corporation Inc., FujiFilm Holding Corporation, Life Technologies Corporation, Bruker Corporation, Aspect Imaging Ltd., Miltenyi Biotec GmbH, Siemens AG, Mediso Ltd., Trifoil Imaging, LI-COR Biosciences, MILabs B.V., Aspect Imaging, MR Solutions Ltd. and others.

The technology segment includes optical imaging system, micromagnetic resonance imaging (MRI), micro computerized tomography systems (CT), nuclear imaging, ultrasound systems, photoacoustic imaging systems, digital angiography, magnetic particle imaging (MPI) systems and others. The optical imaging system accounts for the majority of the market shares. The optical imaging system is cost-effective as compared to other segments. It is widely used across the research organizations as it takes little time in processing and is easy to carry out. The reagents segment includes nuclear imaging reagents, optical imaging reagents, ultrasound contrast agents, CT contrast agents and MRI contrast agents. The optical imaging reagents holds the majority of the market shares. The optical imaging reagents are most widely used among pharmaceutical companies and research institutions owing to the extensive market share of the optical imaging system. Further, these reagents are less complex to use and are cost-effective. The applications segment includes cancer cell detection, biomarkers, epigenetics, longitudinal studies, monitor treatment response, bio-distribution and others. Bio-distribution is the dominant segment. The drug target assessment and engagement helps to find suitable profiles for imaging. Also, it uses noninvasive infrared, which allows us to analyze the function of different tissues. However, cancer cell detection is expected to register a substantial growth rate during the forecast period owing to the growing prevalence of cancer.

Small animal imaging involves a scan of the complete body and, in detail, the biological process of the molecules. This technique is used for observing the cellular changes and thus analyze the effects of drugs. It helps to monitor the progression of different diseases, which enables us to study the phenomena over a period of time. It is vital for the drug development process and is widely used in clinical research. Thus, research institutions and pharmaceutical companies are extensively engaged in small animal imaging. The applications of small animal imaging have increased in the past decade, owing to the development of high-resolution technologies. The increases in healthcare expenditure have increased the investment in the research and development activities.

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About the report:
The global small animal imaging market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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