Small Animal Imaging (In-Vivo) Market is expected to garner $2.1 Billion by 2020, registering a CAGR of 9.1% during the forecast period 2014 to 2020. Imaging modalities emerged as a preferred option for the clinical industry, especially in preclinical studies.
Portland, OR -- (SBWIRE) -- 10/30/2017 -- Micro MRI, micro CT modalities and nuclear imaging together generated 52% of the total market revenue in 2013. Micro-MRI and optical imaging technology would together accumulate almost 2/3rd of the total market revenue during the forecast period, says the report. Due to the increasing prevalence rate and rising number of cases with cancer all across the globe, cancer cell detection application segment is expected to register the highest growth rate by 2020.
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Along with a wide range of applications high sensitivity and economic pricing are the major factors leading to the growing usage of optical imaging technology. The optical imaging technology market segment is expected to contribute almost 40% of the total revenue from the global small animal imaging market by 2020.
Increasing investments for research activities by the CROs, increase in the pre-clinical researches, technological advancements such as combination of varied imaging modalities with high resolution MRI and the rising number for multi-functional pre-clinical imaging are some of the major factors accelerating the market growth for global small animal imaging market. Furthermore, Cerenkov Bioluminescence Imaging, Spatial resolution multimodal imaging and the real-time storage multimodal imaging system are contributing to the growing acceptance of small animal imaging (in-vivo) systems for the purpose of transitional research and drug development.
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Inadequate reimbursement policies along with stringent government regulations are the major challenges faced by the global small animal imaging market. However, speedy commercialization of the cost-efficient devices would help in further propelling the global market growth.
Geographies covered in the report are Europe, LAMEA, Asia-Pacific and North America. The developed regions hold a collective share of 67% of the overall market. North America is projected as the dominating region in terms of revenue generation during the forecast period.
Companies profiled in the report are:
Aspect Imaging Ltd.
Thermo Fisher Scientific
Mediso Medical Imaging Systems
FujiFilm Holding Corporation
Life Technologies Corporation
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Key Findings of Small Animal Imaging (In-Vivo) Market:
Micro MRI, nuclear imaging, and micro CT modalities collectively accounted for about 52% of the revenue generated in 2013
Optical imaging and micro-MRI technology segments would collectively command over 2/3rdof the market revenue during the forecast period
Cancer cell detection application market segment would grow at a higherrate during the forecast period, owing to the rising prevalence rate of cancer across the world