Portland, OR -- (SBWire) -- 02/26/2018 --Small Animal Imaging (In-Vivo) Market report, published by Allied Market Research, forecasts that the global market is expected to garner $2.1 Billion by 2020, registering a CAGR of 9.1% during the forecast period 2014 to 2020. Optical imaging modality is and would continue to be the most preferred imaging technology for clinical research organizations (CROs) through 2020, largely due to high sensitivity, economic pricing and a broad scope of applications. Such factors would eventually push the optical imaging technology segment to contribute about 40% of the global small animal imaging market revenue by 2020.
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Many of the nuclear imaging technologies have been translated into micro level tools that include micro MRI, micro CT and micro PET. Apart from these technologies, micro ultrasound imaging, micro-magnetic resonance imaging (MRI), optical Imaging such as bioluminescence and fluorescence imaging, and multimodal imaging technologies have gained traction in the market.
Rising number of the pre-clinical research, increasing investments by the CROs in the research activities, growing applications of multi-functional pre-clinical imaging and technological advancements such as high resolution multimodality MRI are the few factors impacting the global market positively. However, the stringent regulatory impositions coupled with inadequate reimbursement scenario would restrain the market growth to a certain extent. Despite of the aforementioned market restraints, commercialization of cost-efficient devices would ease the negative influence of restraints and fuel the market growth, primarily across the developing regions.
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North America, dominates the market amongst all geographies owing to adoption of advanced technologies, healthcare awareness and favorable reimbursement policies. Geographically, about ~35 of the small animal imaging (in-vivo) market share is held by the North America owing to the heavy investments and affordability of advanced small animal in-vivo imaging devices, such as micro- Photoacoustic tomography (Micro-PAT), in pre-clinical research. On the other hand, Asia-Pacific market would grow at the promising CAGR of 11.5% over the forecast period. Such high growth rate is majorly attributed towards untapped state of the market, hence would provide an opportunity for the small animal imaging devices manufacturers.
Small Animal Imaging (IN-VIVO) Market Segmentation:
The small animal imaging (in-vivo) market is segmented by the technology, applications and geography.
By Technology
Micro-Magnetic Resonance Imaging (Micro-MRI)
Optical Imaging (OI)
Bioluminescence Imaging
Cerenkov Luminescence Imaging
Fluorescence Imaging
Nuclear Imaging
Micro-Positron Emission Tomography (Micro-PET)
Micro-Single Photon Emission Computerized Tomography (Micro-SPECT)
Others
Micro-Ultrasound Imaging
Micro-Computerized Tomography (Micro-CT)
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Small Animal Imaging (In-Vivo) Market Is Expected to Reach $2.1 Billion, Globally, by 2020
Geographically, ~67% of the small animal imaging (in-vivo) market share is held by the developed regions, due to heavy investments and affordability of advanced small animal in-vivo imaging devices.