Preclinical in-vivo imaging is used in live animal research for drug development. Preclinical imaging is also used to monitor the treatment response for the early indications of efficacy. The presence of technological development of in vivo imaging allows studying the disease at the molecular level in a quantitative way.
The global preclinical in-vivo imaging market size was worth $ 792.2 million in 2018 and is forecasted to reach $ 1301.8 billion by 2026, at a CAGR of 6.4% during the forecast period.
The global preclinical in-vivo imaging market is driven by technological advancements in imaging modalities, increasing demand for non-invasive small animal imaging techniques, rise in preclinical research funding by both private and public organizations, and increasing prevalence of chronic diseases. However, the high installation and operational costs of preclinical imaging modalities, stringent regulations are likely to hamper the market.
Market Dynamics
Drivers
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The increasing prevalence of chronic diseases
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Rising technological developments in preclinical in-vivo imaging
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Increasing funding for preclinical research activities
Restraints
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High costs of preclinical in-vivo imaging modalities
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Limitations to preclinical imaging modalities
Market Segmentation
The optical imaging systems market is valued at USD 125.4 Mn in 2018 and is estimated to grow at a CAGR of 5.7 % over the forecast period to reach a USD 194.4 Mn by 2026.
The optical imaging systems segment holds 15.8% of the market share in 2018, and is expected to be 14.9% by 2026, for the global Preclinical In-vivo Imaging market.The collective revenue of the optical imaging systems segment is estimated to be1,280.1 over the forecast period for 2019-2026.
Optical imaging systems are expected to grow at a high rate over the period of forecast. In this, Trimodality (SPECT/PET/CT) Systems segment is expected to boost the market. This is owing to the presence of an increased number of installations and acquisitions. For instance, on August 22, 2019, Kawasaki Medical University, Yokohama’s research hub for state-of-the-art medical science and services has acquired an ultra-high-resolution E-Class U-SPECT6/CT system for preclinical imaging and installed the first MILabs E-Class U-SPECT6/CT in Japan.
Geographical Analysis
North America is growing at the fastest CAGR of 7.1% during the forecast period (2019-2026).
North America holds 31.8% of market share in 2018, and is expected to be 33.5% by 2026, for the Preclinical In-vivo Imaging Market. The U.S holds 71.1% of market share in 2018, and is expected to increase to 70.9% by 2026, for North America Preclinical In-vivo Imaging Market. The collective revenue of Preclinical In-vivo Imaging market by North America is expected to generate USD2,743.3 Mn from 2019-2026.
North America is dominating the global preclinical in-vivo imaging market in 2018 and estimated to hold significant market size over the forecast period (2020-2027) owing to the rapid adoption of several types of modalities, robust research and development infrastructure for life science researches, technological advancements, growing prevalence of chronic diseases such as cancer, cardiovascular disease, and others, and increasing funding for preclinical research activities.
The growing prevalence of chronic diseases is expected to boost the market over the forecast period. For instance, the National Cancer Institute has reported that about 1,685,210 new cases of cancer are diagnosed in the US, and 595,690 people died from the disease by 2016 end. The Center for Disease Control and Prevention has reported that about 610,000 people die of heart disease in the US each year. Coronary heart disease (CHD) is the most common type of heart disease, killing over 370,000 people yearly.
Competitive Landscape
The key players operating in the global preclinical in-vivo imaging market are Bruker Corporation, Siemens A.G., TriFoil Imaging, PerkinElmer, VisualSonics Inc. (Fujifilm), MILabs B.V., Mediso Ltd., and Agilent Technologies.
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On June 8, 2018, MILabs launched the E-Class line of high-performance, economical PET, SPECT, and CT systems.
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On June 12, 2018, Bruker launched the SKYSCAN 2214, a multiscale X-ray nano-CT system with a unique X-ray source with outstanding precision.
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On June 5, 2017, MILabs B.V. launched next-generation integrated PET-SPECT-OI-CT imaging solution, named the 5-series. It enables more significant breakthroughs in anatomical, functional, and molecular imaging.
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On April 5, 2016, AXT expanded preclinical imaging portfolio with the addition of inviCRO’s innovative software platforms.
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