Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to a recent market research report published by Transparency Market Research, the extensive application of preclinical imaging modalities in drug discovery and biotechnology research has boosted the global small animal imaging market. The overall market was worth US$1.49 billion in 2013 and with steady growth at a CAGR of 8.6%, the report projects the small animal imaging market to reach a valuation of US$2.74 billion by 2020. the title of the report is, "Small Animal Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020."
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Small animal imaging involves in-vivo techniques that evaluate animals such as rats, mice, and rabbits during translational research. The report points out that the growing number of clinical research organizations (CROs) has propelled the market for preclinical imaging devices as well as contrast agents. Increased adoption of multimodal and optical imaging devices due to cost effectiveness and easy handling is expected to propel the global small animal imaging market. However, the report cites that the need to get multiple approvals for small animal imaging coupled with high device development cost will restrain the market growth. Also, the long shelf life of preclinical imaging devices is likely to lead to early saturation of the preclinical imaging devices market which would directly impact the global small animal imaging market. The overall market has a huge potential to grow with higher investments in developing novel reagents.
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The report segments the global small animal imaging market on the basis of devices such as micro-MRI imaging, multimodal imaging, optical imaging, micro-ultrasound imaging, micro-PAT imaging, micro-CT imaging, and micro-PET/SPECT imaging. Micro MRI and micro-CT are the oldest techniques used in preclinical imaging. In the recent past, micro-MRI device has gained significant share in the market owing to the high spatial and non-ionizing resolution offered by the device while imaging soft tissues. In 2013, micro-MRI device accounted for 27 to 31% share in the global small animal imaging market as it delivers detailed morphological pictures with excellent spatial resolution and contrast. Multimodal imaging blends two or more devices such as SPECT/CT, PET/MRI, and PET/CT into one single device. Though expensive, multimodal imaging devices segment has gained significant share in the global small animal imaging market due to high spatial resolution and ease of handling. Optical imaging devices account for around 12% to 17% share in the market and are the least expensive devices on the market.
The report also categorizes the global small animal imaging market on the basis of the reagents used such as MRI contrast reagents, nuclear imaging contrast reagents, ultrasound contrast reagents, optical imaging contrast reagents, and computed tomography contrast reagents. The small animal imaging finds applications in cardiology, oncology, neurology and psychiatry, autoimmune diseases, and other applications such as pulmonary disorders, metabolic disorders, and infectious diseases.The report studies the global small animal imaging market in four key regions: Asia Pacific, Europe, North America, and Rest of the World. North America leads the overall market, closely followed by Europe. Extensive preclinical research activities in these regions have attributed towards the growth of the market. Asia Pacific and Rest of the World are expected to display the fastest growth in the market in the near future.Some of the key players in the global small animal imaging market are Bruker Corporation, Aspect Imaging, Promega Corporation, and Siemens AG.
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The research study has been segmented as below:
Global Small Animal Imaging Market, by Devices
- Micro-CT Imaging
- Micro-MRI Imaging
- Micro-PET/SPECT Imaging
- Multimodal Imaging
- Optical Imaging
- Micro-Ultrasound Imaging
Global Small Animal Imaging Market, by Reagents
- Computed Tomography (CT) Contrast Reagents
- MRI Contrast Reagents
- Nuclear Imaging Contrast Reagents
- Optical Imaging Contrast Reagents
- Ultrasound Contrast Reagents
Global Small Animal Imaging Market, by Major Application Areas
- Autoimmune Diseases
- Neurology and Psychiatry
- Other Applications
Global Small Animal Imaging Market, by Geography
- North America
- Asia Pacific
- Rest of the World (RoW)
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Source:Transparency Market Research