Small Animal Imaging (In-Vivo) Market

Global Small Animal Imaging (In-vivo) Market Size (2024 to 2029)

The size of the global small animal imaging (in-vivo) market is forecasted to value USD 1142.5 Million by 2029 from USD 780.1 Million in 2024, rising at a compound annual growth rate (CAGR) of 7.93% between 2024 to 2029.

MARKET DRIVERS

The small animal imaging market is growing rapidly due to the headways in innovation and expansion in healthcare services consumption.

The multi-functional pre-clinical imaging and the rising number of pre-clinical research activities are expected to accelerate the small animal imaging market growth. In addition, the growing number of pharmaceutical organizations and research institutes and the utilization of small animal imaging techniques worldwide fuel the market's growth rate during the forecast period. Moreover, the rise in technological advancements in the imaging processes, such as high-resolution multimodality MRI, and the increase in investments by clinical research organizations (CROs) in pre-clinical studies boost the growth rate of the small animal imaging (in-vivo) market. 

The small animal imaging (In-vivo) market is a highly competitive market. Recent start-ups and small companies are struggling to mark this Market due to the high competition levels. The growing adoption of small animal imaging in various applications and increased usage of technological advancements in imaging modalities are further expected to boost the Market's growth rate. Emerging countries such as China and India serve high growth opportunities for small animal imaging (in-vivo) market players. Moreover, technological advancements in the small animal imaging market play a significant role. For instance, PerkinElmer, Inc., a globally leading company perpetrated to innovate for a healthier world, declared the IVIS Lumina S5 and X5 high throughput benchtop 2D optical in vivo imaging systems launch. 

MARKET RESTRAINTS

The high costs associated with small animal imaging equipment are restraining the small animal imaging (in-vivo) market growth.

In addition, the necessity of skilled research personnel in emerging countries and the lack of high-end devices hinder the market growth during the forecast period. Moreover, the strict regulatory framework that governs pre-clinical research and the installation and operational expenses linked with pre-clinical imaging modalities is estimated to hamper the global small animal imaging (In-Vivo) market. Furthermore, the presence of inadequate reimbursement policies is challenging the market growth. In addition, the lack of a foundation for research amenities and a deficiency of a talented workforce in developing regions are hindering market growth. Moreover, inaccuracy in the imaging process hampers the small animal imaging (In-Vivo) market.

Impact of COVID-19 on the global small animal imaging (In-Vivo) market

The global economy drastically declined during COVID-19. The Covid 19 is a contagious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The virus had spread worldwide in no time, which led to the ongoing pandemic. The small animal imaging (in-vivo) Market went through rough times during the pandemic and witnessed a decline in the Market's growth rate. The lockdown led the factories to shut down, and the production of the devices was paused. Moreover, during the pandemic, the hospitals only treated essential patients like COVID-19 patients, and the non-essential patients were neglected and postponed their treatment. As a result, the supply chain was disturbed, and the public feared going to hospitals during the pandemic, which hampered the Market. But the market players globally are trying their best to sustain themselves in the Market. However, due to the decreased impact of COVID-19 and growing habituation towards the new normalization, the small animal imaging (in-vivo) market is anticipated to recover and register a healthy CAGR during the forecast period.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Small Animal Imaging (In-vivo) Market Analysis By Modality

The optical Imaging segment accounted for the most significant global market share in 2023. The easy operations and the low cost associated with the imaging process boost the optical imaging segment in the small animal imaging (in-vivo) market.

The MRI segment is anticipated to hold a considerable share of the global market during the forecast period. The segmental growth is primarily driven by the increasing awareness regarding the advantages of small animal imaging (in-vivo), such as its non-invasive nature and ability to produce a complete organ report in the body. MRI also provides a better soft tissue contrast when compared to CT scans, which is expected to fuel the segment's growth rate. In addition, MRIs are widespread and provide three-dimensional anatomical results along with high-resolution pictures supporting segment growth.

Global Small Animal Imaging (In-vivo) Market Analysis By Reagent

The optical imaging reagents segment is expected to dominate the global market during the forecast period owing to the widespread use of optical imaging procedures. Optical imaging helps generate accurate images of even the smallest body parts, such as cells and molecules. In addition, optical imaging is a cost-effective and non-invasive procedure, and it is straightforward to perform, leading to segment growth. 

On the other hand, the contrast agent segment is also expected to hold a considerable share of the global market during the forecast period owing to the heavy use of contrast reagents in all diagnostic procedures. In addition, contrasting reagents are essential to deciphering the different parts of the scan in any image leading to the segment's growth. 

REGIONAL ANALYSIS

The North American market is estimated to hold the largest share of the global small animal imaging (in-vivo) market during the forecast period among all regions. It maintains its lead in the forecast period due to increasing demand for speedy and continuous methods, an established healthcare industry, massive investments, and affordability of growing small animal in-vivo imaging devices, like micro-photoacoustic tomography (Micro-PAT) and pre-clinical research. Furthermore, the Market in Europe is also expected to grow significantly during the forecast period due to the growing number of academic research in the region.

The Asia-Pacific market is also expected to witness the highest CAGR during the forecast period owing to the growing R&D activities by pharmaceutical companies for drug discovery. In addition, the growing trend for biologics and the study of living cells for better production of vaccines is supporting regional market growth. Furthermore, in recent times there has been growing research in the stem cell development and study of genetics and genomes in both humans and animals in the region, supporting the growth of the Market. In addition, countries like China, Japan, South Korea, India, etc., have a growing number of biotechnology companies leading to market growth.

KEY PLAYERS IN THE GLOBAL SMALL ANIMAL IMAGING (IN-VIVO) MARKET

Some of the notable companies leading the global small animal imaging (in-vivo) market profiled in this report are Promega Corporation, Inc., Berthold Technologies, Miltenyi Biotec GmbH, Spectral Instruments Imaging, Life Technologies Corporation, Agilent Technologies, Inc., Fujifilm Holding Corporation, Aspect Imaging, Siemens AG, Bioscan, Inc., Thermo Fisher Scientific, Gamma Medica-Ideas, Inc., Bruker Corporation, Genovis Ab, PerkinElmer Inc., Li-Cor Biosciences, Aspect Imaging Ltd. And Scanco Medical AG.

RECENT HAPPENINGS IN THE MARKET

• In January 2023, Agilis Robotics, a proprietary robot, recently completed the second round of trials for endoscopic surgery performed through the body's natural orifices without invasion, using miniaturized robotic instruments on Live animals. The system aims at proving the safety of the technique on human bodies. 
• In January 2023, 3T Biosciences, whose platform is designed for combining expansive ranged target libraries, is striving towards cracking a $268 million deal with Boehringer Ingelheim, which wants to identify new antigen targets for cancer immunotherapies by inputting their patient-derived T-cell Receptor into 3t's platform. The project's success can lead to new opportunities in cancer gene research.
• In March 2021, Agilent Technologies Inc., an American analytical instrumentation development and manufacturing company that offers its products and services to markets worldwide, announced that it would launch a real-time reverse transcription (qRT) PCR-based diagnostic kit for detecting SARS-CoV-2 RNA.
• In March 2021, Siemens AG, one of the key players in the Global Small Animal Imaging Market, acquired C&S Electric, an Indian grid technology manufacturer, for about $285m, purchasing approximately 99.22% of the company after receiving regulatory approval from the Competition Commission of India.

DETAILED SEGMENTATION OF THE GLOBAL SMALL ANIMAL IMAGING (IN-VIVO) MARKET INCLUDED IN THIS REPORT

This research report on the global small animal imaging (in-vivo) market has been segmented and sub-segmented based on modality, reagent, and region.

By Modality

• Optical Imaging
• PET
• SPECT
• CT
• MRI
• Ultrasound
• Photoacoustic Imaging
• Magnetic Particle Imaging

By Reagent

• Optical Imaging Reagents
• Contrast Agents
• PET Tracer
• SPECT Probes

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa