Small Animal Imaging Market Research Report Information by Product Optical Imaging (Photoacoustic Tomography and Optical Coherence Tomography), Nuclear Imaging (Micro PET System, Micro SPECT System, Micro MRI System, Micro CT System, and Others), Reagent (Optical Image Reagent, Contrast Agent, Pet Tracers, and SPECT Probe), by Application (Monitoring Drug Treatment Programme, Bio Distribution Studies, Cancer Cell Detection, Biomarkers, and Longitudinal Studies), by Region (North America, Europe, Asia-Pacific, and Rest of the World) – Industry Forecast to 2032
The small animal imaging market was projected to have a value of USD 1.12 billion in 2022. The small animal imaging market is anticipated to develop at a compound annual growth rate (CAGR) of 6.87% between 2023 and 2032, from USD 1.19 billion in 2023 to USD 2.32 billion by 2032. The pharmaceutical industry's expanding investment in research and development (R&D) and the public's growing knowledge of small animal research are driving the market's expansion.
The expanding awareness of small animal research on many fronts is having a major impact on the growth of the small animal imaging market. First, as more parties realize how important small animal models are to preclinical research, there is an increasing need for advanced imaging technologies that can facilitate more thorough and accurate studies in these animals.
Researchers' realization of the importance of small animal imaging in clarifying disease causes, assessing therapeutic approaches, and forecasting clinical outcomes is also propelling the adoption of novel imaging modalities. Furthermore, the market is experiencing additional stimulation because to the favorable regulatory settings and greater investment that follow from funding organizations, lawmakers, and regulatory authorities realizing how important it is to support small animal research.
Insights on Market SegmentThe product-based segmentation of the small animal imaging market is made up of imaging modality and reagent. Other subcategories of imaging modalities include nuclear and optical imaging. Imaging investigations can be broadly classified into three categories: CT, MRI, and ultrasonography. Furthermore, there are two types of optical imaging: Optical Coherence Tomography and Photoacoustic Tomography. The five categories of nuclear imaging are as follows: Others; Micro PET System; Micro SPECT System; Micro MRI System; Micro CT System.
Based on the application, which includes medication treatment program surveillance, bio distribution studies, cancer cell detection, biomarkers, and longitudinal research, the small animal imaging market is segmented.
Regional ViewsThe small animal imaging market in North America had the biggest market share in 2022. This is due to the rising incidence of chronic diseases in pets in the North American continent as well as the rise in pharmaceutical and biotechnology-related research and development.
The European small animal imaging market holds the second-largest market share. This can be attributed to several factors, including the growing demand for preclinical imaging in the pharmaceutical and biotechnology industries, the government's increased funding for molecular imaging research and development, and the region's strong presence of top imaging equipment manufacturers.
From 2023 to 2032, the Asia-Pacific small animal imaging market is projected to develop at a significant rate. The rising cost of healthcare in the area, the growing need for preclinical research in drug development and discovery, and the developments in imaging modalities like MRI, CT, PET, and SPECT are the causes of this.
Principal PlayersAmong the leading businesses in the small animal imaging market are Bruker (US), Analytik Jena GmbH+Co. KG (Germany), Aspect Imaging Ltd (US), MR Solutions (UK), FUJIFILM Holdings Corporation (Japan), MILabs B.V. (Netherlands), Trifoil Imaging (US), Mediso Ltd (Hungary), LI-COR, Inc (US), and Heska Corporation (US).