From the Wires
Market Research Report -- Small Animal Imaging Market Valued at $790 Million in 2012
Jan. 30, 2013 04:08 AM
ROCKVILLE, MD -- (Marketwire) -- 01/30/13 -- MarketResearch.com has announced the addition of the market research report "Small Animal Imaging (In Vivo) Market - By systems and reagents [Micro-PET, Optical Imaging, Micro-MRI, Micro-SPECT, Micro-Ultrasound, Micro-CT & Multimodality/Hybrid Imaging Modalities] - Competitive Analysis & Global Forecasts to 2017" to their product offering.
Small animal imaging is increasingly being implemented in the research studies from the late stage studies to the clinical phases. Imaging plays a significant role in the assessment of specific drug candidate or treatment regime, in phenotyping and understanding the pathophysiology of various diseases. Technologies used for in vivo small animal imaging allow longitudinal evaluation of disease as well as of drug therapy within the same animal, thus increasing efficacy and decreasing animal numbers used in research studies.
The overall small animal imaging (in vivo) market is valued at $790 million in 2012, and is estimated to grow at an annual growth rate of 14.5% over the next five years. The growing market shows preference towards new technologies such as hybrid systems -- PET + SPECT + CT, SPECT + MRI and PET + MRI for the range of advantages offered by them over traditional standalone techniques. The global small animal imaging (in vivo) market has witnessed challenging and dynamic market conditions in terms of government funding/grants and technological advancements in the last five years. Small animal imaging (in vivo) industry has witnessed numerous technological advancements over the last two decades and it is expected to continue with the same trend in future to solve the present challenges and meet the demanding needs of the market.
The market growth is driven by factors such as increasing number of pharma companies and research institutions, rising application of functional imaging, growing adoption rate for small animal imaging and technological advancements. However, high device cost and technological limitations are the factors hindering the market growth. Sustainability of players in highly competitive environment, industry consolidation and availability of radiopharmaceuticals are the major challenges, while unique combinations in MRI high resolution and sensitivity of imaging devices with usage in multiple applications and emerging markets are the factors that seem to be favorable opportunities to the market.
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