What Has Been The Historical And Current Growth Of The Small Animal Imaging (In-Vivo) Market?
The small animal imaging (in-vivo) market has seen considerable growth due to a variety of factors.
• The size of the small animal imaging (in-vivo) market has seen substantial growth lately. The valuation is projected to increase from $2.84 billion in 2024 to $3.17 billion in 2025 with a compound annual growth rate (CAGR) of 11.8%.
The significant growth observed in the historical period is a result of elements like preclinical research and drug development, expansion in the pharmaceutical and biotechnology sectors, progress in translational research, disease modeling and pathophysiology studies, as well as academic and government financial backing for research.
What Is The Forecast For The Small Animal Imaging (In-Vivo) Market By 2029?
The small animal imaging (in-vivo) market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are set for the small animal imaging (in-vivo) market to experience remarkable growth in the forthcoming years. It is projected to surge to $5.05 billion by 2029, displaying a compound annual growth rate (CAGR) of 12.3%.
Factors contributing to the predicted growth in the forecast period include the advent of new imaging probes and tracers, the broadening of preclinical CROs (contract research organizations), the use of ai in image analysis, sophisticated multimodal imaging systems, 3D and high-definition imaging for small specimens, and a surge in research on rare and orphan illnesses. The forecast period is marked by significant trends such as molecular and functional imaging in small animals, real-time and progressive in-vivo imaging, hybrid imaging approaches for multimodal data, imaging of CRISPR-altered species for genetic research, AI-empowered phenotyping and biomarker discovery, and imaging for neurological diseases and neuroscience research.
Which Key Drivers Are Propelling The Small Animal Imaging (In-Vivo) Market's Growth?
The expansion of the small animal imaging (in vivo) market is projected to be driven by rising costs in the healthcare sector. The term healthcare expenditure encompasses the total cost of healthcare, including both public and private spending, expressed as a percentage of the GDP. The growth in healthcare expenditure, coupled with an increase in healthcare awareness, promotes the idea of self-care management, where PET devices are utilized for small animal imaging processes. As an example, the Office for National Statistics, a UK-based statistical body, noted that in May 2024, there was a 5.6% increase in the UK's healthcare spending in monetary terms in 2023, while long-term healthcare and social care spending rose by 2.8% in real terms in 2022. Hence, the escalating costs in the healthcare sector are fueling the expansion of the small animal imaging (in-vivo) market.
What Are The Key Segments Within The Global Small Animal Imaging (In-Vivo) Market?
The small animal imaging (In-Vivo) market covered in this report is segmented –
1) By Component: Micro-MRI, Optical Imaging, Nuclear Imaging, Other Components
2) By Application: Monitoring Treatment Response, Bio Distribution, Determining Drug or Target Engagement, Cancer Cell Detection, Biomarkers, Longitudinal Studies, Epigenetics
3) By End User: Veterinary Clinics, Veterinary Hospitals, Veterinary Institutes and Research Centers
Subsegments:
1) By Micro-MRI: High-Field Micro-MRI Systems, Low-Field Micro-MRI Systems, MRI Contrast Agents
2) By Optical Imaging: In Vivo Fluorescence Imaging Systems, Bioluminescence Imaging Systems, Optical Coherence Tomography Systems
3) By Nuclear Imaging: Positron Emission Tomography (PET) Scanners, Single Photon Emission Computed Tomography (SPECT) Systems, Radioactive Tracers
4) By Other Components: X-Ray Imaging Systems, CT Imaging Systems, Ultrasound Imaging Systems
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How Are New Trends Impacting The Size Of The Small Animal Imaging (In-Vivo) Market?
The integration of technology is becoming a prominent trend in the small animal imaging (in-vivo) market. Leading companies are prioritizing technological enhancements to reinforce their standing in the market. Consider the example of PerkinElmer Inc., an American company involved in industries like diagnostics, life science research, and imaging. In April 2022, they introduced the Vega imaging system- an automated, high-tech ultrasound platform. This automatic technology employs two automated transducers, making the technology more user-friendly and providing more consistent insights to examine the pathophysiology of the disease.
Who Are the Key Players in the Small Animal Imaging (In-Vivo) Market?
Major companies operating in the small animal imaging (In-Vivo) market include:
• Bruker Corporation
• PerkinElmer Inc.
• Miltenyi Biotec GmbH
• Aspect Imaging Ltd.
• Mediso Ltd.
• Siemens AG
• Life Technologies Corporation
• Promega Corporation
• Berthold Technologies GmbH and Co. KG
• Spectral Instruments Imaging LLC
• Agilent Technologies Inc.
• Bioscan Inc.
• Gamma Medica-Ideas Inc.
• Genovis AB
• LI-COR Biosciences
• Scanco Medical AG
• TriFoil Imaging Inc.
What are the Regional Insights into the Small Animal Imaging (In-Vivo) Market?
North America was the largest region in the small animal imaging (in-vivo) market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the small animal imaging (in-vivo) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
