June 17, 2024
Preclinical Imaging Market

Global Preclinical Imaging Market is Estimated to Witness High Growth Owing to Advancements in Imaging Modalities

The global Preclinical Imaging Market has witnessed significant growth in recent years owing to growing R&D investments in pharmaceutical and biotechnology companies. Preclinical imaging is widely used for drug discovery, antibody development, disease diagnosis, and studying mechanisms of disease progression and development of treatment. Key modalities in preclinical imaging include optical imaging, MRI, PET, SPECT, ultrasound, and CT. As disease comprehension and treatment discovery move from 2D to 3D/4D, latest innovations in preclinical imaging modalities are permitting increasingly precise and complete whole-body and molecular imaging in preclinical models.

The Global Preclinical Imaging Market is estimated to be valued at US$ 4.25 BN in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players: Key players operating in the global Preclinical Imaging Market are Bruker Corporation, Siemens A.G., General Electric (GE), TriFoil Imaging, PerkinElmer, Inc., VisualSonics Inc. (Fujifilm), Inc., Mediso Ltd., Agilent Technologies, MILabs B.V., MR Solutions, and Molecubes.

Key opportunities: Advancements in multimodal imaging solutions integrating PET, SPECT, CT, MRI, and optical imaging are presenting significant Preclinical Imaging Market Demand opportunities. Growing research in theranostics is also boosting demand. Private investments and acquisition activities are further fueling market expansion.

Technological advancements: Latest preclinical imaging modalities such as bioluminescence, Cerenkov luminescence, and optoacoustic tomography are enhancing imaging sensitivity, speed, and resolution. Techniques such as small-animal PET, micro-CT, and micro-MRI are enabling in vivo characterization of disease pathology at the molecular level.

Market drivers: Rising R&D expenditures of pharmaceutical and biotechnology companies and growing stringent regulatory guidelines demanding comprehensive preclinical studies prior to human trials are major market drivers. Increasing adoption of multimodal imaging solutions for accelerated drug development and evaluation is also fueling revenues.

The key driver fueling growth is the rising expenditure on R&D by pharma and biotech companies. To develop novel therapeutics and comply with regulatory norms, companies are investing heavily in advanced preclinical studies using multimodal imaging solutions for efficient drug development and evaluation. This is increasing the demand for preclinical imaging systems and presentations.

Current Challenges in Global Preclinical Imaging Market

The global Preclinical Imaging Market is facing several challenges currently including high costs associated with imaging systems, shortage of expertise for handling advanced imaging modalities, and stringent regulatory guidelines for research involving animals. The pricing of preclinical imaging systems is quite high which is a major barrier for small research organizations and startups. Moreover, specialized technical knowledge is required to operate advanced imaging systems smoothly which limits widespread adoption. Regulatory authorities have also imposed strict rules regarding animal experiments for research purposes which adds to compliance burden. However, market players are increasingly focusing on developing cost-effective and user-friendly solutions which can help address some of the current challenges.

SWOT Analysis

Strength: Advanced imaging capabilities for in-vivo visualization and longitudinal studies. Wide range of modalities available including MRI, PET, CT, optical etc.

Weakness: High costs of imaging systems and maintenance. Requirement of specialized technicians for handling advanced systems.

Opportunity: Rising R&D investments in pharma and biotech industries. Growing stem cell and regenerative medicine research.

Threats: Stringent regulations surrounding animal research. Alternative methods like organ-on-a-chip gaining traction. Intense competition among established players.

Geographical Regions

North America currently holds the major share of the global Preclinical Imaging Market in terms of value due to robust research spending and extensive pharmaceutical R&D in the region. The presence of leading industry players and availability of state-of-the-art research infrastructure also supports market growth.

Asia Pacific is expected to witness the fastest growth during the forecast period owing to increasing government funding for preclinical research, rising generics production, and developing healthcare infrastructure in countries like China and India. Emerging industries are actively adopting preclinical imaging solutions to accelerate drug development.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it