Preclinical Imaging Market Overview | Industry Report 2021

According to research report Preclinical Imaging Market is expected to reach USD 910.4 Million by 2021; growing at a CAGR of 6.2% during 2016 to 2021. The Report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

Over the last two decades, preclinical imaging has witnessed significant importance in the drug discovery and development. Development of technologically advanced multi-modality preclinical imaging systems and their increased adoption in preclinical research studies acted as driving factor for global preclinical imaging market.

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Leading Market Players –
The key players in the preclinical imaging market focus on various strategies such as product approvals, launches, and enhancements; geographic expansions; partnerships, agreements, and collaborations; and strategic acquisitions in order to increase their market shares in the global preclinical imaging market.

Product approvals, launches, and enhancements was the key strategy adopted by major industry players to achieve growth in the preclinical imaging market. This strategy was majorly adopted by PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), Mediso Ltd. (Hungary), MILabs B.V. (Netherlands), MR Solutions Ltd. (U.K.), and Aspect Imaging Ltd. (Israel).

Apart from product approvals, launches, and enhancements; many prominent players also adopted geographic expansion as one of their growth strategies to strengthen their market presence, enhance their R&D capabilities, and generate additional demand by sensitizing end users about benefits offered by molecular imaging during in-vivo preclinical imaging studies.

PerkinElmer, Inc. held the leading position in the preclinical imaging market owing to its robust product portfolio and its strong geographic presence across major markets (such as the U.S., Europe, China, Japan, Australia, and India).

Bruker Corporation (U.S.) held the second position in the preclinical imaging market in 2015. This is mainly attributed to the wide geographical presence and strong product portfolio of the company in the global preclinical imaging market.

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Geographical Overview –
North America (except Mexico) and a major part of the European region are mature markets for preclinical imaging systems and reagents. However, developing regions such as Asia-Pacific (including China, South Korea, and Taiwan) and Latin America (especially Brazil) are expected to become new revenue-generating markets for players dealing with preclinical imaging systems and reagents.

The high growth opportunities in the Asia-Pacific region is attributed to the rising number of CROs offering preclinical research studies, increasing outsourcing of preclinical research by global pharma companies to developing Asian countries (owing to low cost of research), and increasing government funding for pharmaceutical R&D activities in emerging Asia-Pacific countries.

In the Asia-Pacific region, the preclinical imaging market in China is estimated to grow at the highest rate in the next five years. Increased government investments towards the development of country’s pharmaceutical industry are leading to the growth in the number of preclinical research studies in China. In addition, increased government funding is also motivating the private investors to make huge investments into China’s pharmaceutical R&D. The heavy public and private funding in China’s pharmaceutical industry is resulting into the modernization of country’s preclinical research infrastructure.