According to the latest report published by Market Research Future (MRFR), the global Small Animal Imaging Market will proliferate at 6.5% CAGR during the forecast period 2018 to 2023. The bullish trend witnessed in pet healthcare sector around the world has catapulted the expansion of small animal imaging market as the pet owners are willing to pay for veterinary care. The adoption rate of small animals has increased exponentially over the years which will complement the growth of the market throughout the review period.
The accelerating demand for non-invasive imaging techniques for small animals is the key driving factor of the market and will catalyze revenue generation of small animal imaging market throughout the projection period. Furthermore, the manufactures in the small animal imaging industry strive to integrate technological advancements and innovations into their products for staying ahead of the curve which will aid market growth and expansion over the next couple of years.
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However, the factors responsible for holding the small animal imaging market include rigid laws implemented against experiments on animals, and expensiveness of the devices among others.
Small Animal Imaging Market Segmentation:
Small Animal Imaging Market is segmented into modality and reagent
By modality, the global small animal imaging market is segmented into
• optical imaging systems
• nuclear imaging systems
• micro-MRI systems
• micro-ultrasound systems
• micro-CT systems
• photoacoustic imaging systems
• Magnetic Particle Imaging (MPI) systems.
The optical imaging systems segment is further sub-segmented into
• bioluminescence/ fluorescence imaging systems
• standalone fluorescence imaging systems
• optical + X-Ray/optical + CT systems
The nuclear imaging systems segment is sub-segmented into
• micro-Pet systems
• micro-spect systems
• trimodality (spect/pet/CT) systems
The micro-pet system segment has further been segmented into
• standalone pet systems
• pet/CT system
• pet/MRI systems
The micro-spect system is further segmented into
• standalone spect systems
• spect/CT system
• spect/MRI systems
By reagent, the small imaging market has been segmented into
• optical imaging reagents
• nuclear imaging reagents
• MRI contrast agents
• ultrasound contrast agents
• CT contrast agents
The optical imaging reagents segment is sub-segmented into
• bioluminescent imaging reagents
• fluorescent imaging reagents.
The bioluminescent imaging reagents segment is further segmented into
The fluorescent imaging reagents segment has further been segmented into
• green fluorescent proteins
• red fluorescent proteins
• infrared dyes
The nuclear imaging reagents segment is sub-segmented into
• pet tracers
• spect probes
The pet tracers segment is further segmented into fluorine-18-based small animal pet tracers, carbon-11-based small animal pet tracers, copper-64-based small animal pet tracers, and other spect probes. The spect probes segment has further been segmented into technetium-99m-based small animal spect probes, iodine-131-based small animal spect probes, gallium-67-based small animal spect probes, thallium-201-based small animal spect probes, and other spect probes. The MRI contrast agents’ segment has been sub-segmented into gadolinium-based small animal contrast agents, iron-based small animal contrast agents, and manganese-based small animal contrast agents. The CT contrast agents’ segment is sub-segmented into iodine-based small animal CT contrast agents, barium-based small animal CT contrast agents, and, gold nanoparticles and gastrografin-based small animal CT contrast media.
Small Animal Imaging Market Regional Analysis:
By region, the small animal imaging market is segmented into Americas, Europe, Asia Pacific, and Middle East & Africa. The Americas market will dominate the global small animal imaging market and will account for the maximum share in revenue across the assessment period. The growth in this region can be primarily attributed to the investments made by clinical research organizations coupled with spiraling government funding for research activities. Furthermore, the concentration of top-notch players such as PerkinElmer Inc., Bruker Corporation, and LI-COR Biosciences among others are favoring the market expansion.
The thriving Europe small animal imaging market will exhibit an upswing due to the multiplying investments by leading pharmaceuticals enterprises consolidated in the region. The accelerating rate of pet adoption in the region will also fuel growth and market expansion.
Asia Pacific will demonstrate the steepest growth curve is owing to the opportunities for expansion exhibited by emerging economies such as India, China, Japan, etc. Middle East & Africa small animal imaging market share will hold the least due to lack of technological advancements in the healthcare sector.
Small Animal Imaging Market Competitive Dashboard:
The key players profiled by MRFR in its latest report for drawing a deeper insight into the market forecast include
• PerkinElmer Inc. (U.S.)
• FUJIFILM Holdings Corporation (Japan)
• MILabs B.V. (Netherlands)
• Aspect Imaging (Israel)
• Trifoil Imaging (U.S.)
• Miltenyi Biotec GmbH (Germany)
• Bruker Corporation (U.S.)
• Mediso Ltd. (Hungary)
• MR Solutions Ltd. (U.K.)
• LI-COR Biosciences (U.S.)
The strategies developed and implemented by the players for gaining prominence in the market include clinical trials, mergers & acquisitions, innovative collaborations, research & developments activities, etc.
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