June 18, 2024
Preclinical Imaging Market

Global Preclinical Imaging Market is Estimated to Witness High Growth Owing to Rising Pharmaceutical R&D Activities

The global Preclinical Imaging market comprises equipment used in research activities across various end-use industries including pharmaceutical & biotechnology companies, academic & government institutes, and contract research organizations (CROs). Preclinical Imaging instruments including optical imaging systems, nuclear imaging systems, micro-MRI systems, micro-CT systems, and micro-ultrasound systems help obtain high-resolution anatomical and functional information about biological processes in living subjects.

The use of Preclinical Imaging solutions helps reduce drug development costs and time by enabling non-invasive sequential monitoring of disease progression or treatment response in small animal models. The rising R&D investments by pharmaceutical & biotechnology players and growing outsourcing of preclinical research to CROs has driven the demand for Preclinical Imaging solutions over the years.

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 from 2024 to 2031.

Key Takeaways
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. These players are focused on developing advanced Preclinical Imaging systems with high resolution and multimodal capabilities to gain a competitive edge in the market.

The growing R&D investments and discovery of newer disease indications offer significant growth opportunities for players in the global Preclinical Imaging Market Demand. Moreover, the development of customized or disease-specific small animal models will further drive research activities, boosting demand.

The Preclinical Imaging market is witnessing rapid global expansion driven by rising pharmaceutical outsourcing to Asia Pacific region. Countries like China, India, and South Korea are emerging as global centers for preclinical research due to availability of low-cost and high-quality CRO services. This will further augment the demand for Preclinical Imaging solutions across fast-growing Asian markets over the forecast period.

Market Drivers
Rising pharmaceutical R&D activities is a key driver propelling growth of the global Preclinical Imaging market. Pharmaceutical players are increasingly utilizing Preclinical Imaging solutions for exploratory research, target validation, lead optimization and evaluation of drug candidates in small animals. This enables early assessment of pharmacokinetics, biodistribution, and safety of novel molecules before clinical trials on humans. Such vital applications of Preclinical Imaging in drug development are expected to continue boosting market revenues through 2031.

PEST Analysis
Political: Regulations pertaining to Preclinical Imaging are becoming more stringent to ensure safety and efficacy. Government funding and initiatives are supporting research activities.
Economic: Growing R&D investments in pharmaceutical and biotechnology industries is driving market growth. Developments being made in imaging technologies to reduce costs while improving capabilities.
Social: Increasing incidence of chronic diseases is leading to greater demand for drug development. Advancements allow for better understanding of diseases at preclinical stages.
Technological: Newer optical and hyperpolarized magnetic resonance imaging techniques offer higher resolution, sensitivity and molecular specificity. Integrated multimodal systems are enabling combination of anatomical, functional and molecular information.

The North American region accounts for the largest share of the global Preclinical Imaging market in terms of value. This can be attributed to presence of major industry players and academic research institutes along with availability of funding for preclinical research activities in the region. The Asia Pacific region is poised to grow at the fastest rate over the forecast period owing to increasing investments by pharmaceutical and biotechnology companies in countries such as China and India. Rapid economic growth and rising healthcare expenditure in emerging countries presents lucrative opportunities.

The European region currently captures a significant market share and is expected to witness steady growth. This is driven by ongoing academic research and drug discovery projects being carried out across various countries. Moreover, stringent regulations pertaining to animal research along with initiatives supporting development of innovative imaging modalities will further aid regional expansion.

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