New Medical Devices market report from Markets and Markets: "Pre-Clinical Imaging (In vivo) Market - By Systems and Reagents [Micro-PET, Optical Imaging, Micro-MRI, Micro-SPECT, Micro-Ultrasound, Micro-CT & Multimodality/Hybrid Imaging Modalities] - Competitive Analysis & Global Forecasts to 2017 "
Boston, MA -- (SBWIRE) -- 12/20/2012 -- Pre-clinical imaging technologies are excellent tools for assessment of anatomical, physiological and functional parameters at molecular and cellular levels in the live animal models. It plays a significant role in the assessment of specific drug candidate or treatment regime, in phenotyping and understanding the pathophysiology of various diseases.
The global pre-clinical imaging (in vivo) market has witnessed challenging and dynamic market conditions in terms of government funding/grants and technological advancements in the last five years. The overall pre-clinical imaging (in vivo) market is valued at $790 million in 2012, and is estimated to grow at an annual growth rate of 14.5% over the next five years. Market displays growing preference for new technologies such as hybrid systems - PET + MRI, SPECT + MRI and PET + SPECT + CT, for the continuum of advantages offered by them over traditional standalone techniques as they enable to overcome limitations of each technology. Pre-clinical imaging (in vivo) industry has witnessed myriad technological advancements over the last two decades and it is expected that this trend will continue in future to solve the present challenges and fill the unmet needs of the market.
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Factors such as increasing pre-clinical research studies, technological advancements, rising government support in developing markets, growing use of functional imaging, and increasing number of pharma companies and research institutions, are spurring the growth of pre-clinical imaging market. However, high cost of imaging systems and technological limitations are restraining the market growth. Market is facing some major challenges such as industry consolidation, slow adoption rate of pre-clinical imaging technologies by tier I and tier II pharma/biotech companies and lack of sufficient accessibility of radiotracers for nuclear imaging.
In 2012, North America is the biggest market, about 38.2% share of the global pre-clinical imaging (in vivo) systems and reagents market, followed by Europe. However, the Asian and Latin American countries represent the fastest growing markets due to increasing government support for research, growing number of research institution and CRO's, and rising industry-academia partnerships for pre-clinical research. Moreover, economic slowdown, pricing pressures and high competition in mature countries will compel the companies to focus on the Asian market.
Market has opportunity for imaging systems which will be cost effective with applications in multiple fields. In addition, unique combinations of imaging modalities such as MRI and optical imaging, which will address the challenges associated with the currently marketed imaging combinations are expected to have better future prospects for growth.
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