The global preclinical imaging market size was valued at USD 3.25 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030. The growing number of investments and funding in research and development coupled with the constant pace of technological advancements leading to the development of hybrid imaging systems is primarily driving the growth of the market. Preclinical research is transforming how modern medicine is delivered as well as how health problems are treated and resolved. Preclinical imaging techniques include the reduction of biological variability and the ability to acquire an impressive amount of unique information in distinct forms as well as a significant reduction in the number of animals required for a particular study, fully complying with 3R (Replacement, Reduction, and Refinement) policies.
Furthermore, the increasing number of Clinical Research Organizations (CROs) and pharmaceutical companies are increasing the adoption of in-vivo imaging systems in preclinical research, which is further expected to accelerate the growth of this market for preclinical imaging. For instance, in July 2020, the USF Health Morsani College of Medicine, installed the new 7T-3T MR/PET and PET-CT systems by MR solutions, to establish their first comprehensive preclinical imaging suite. On the other hand, the restrictions placed on animal testing due to regulations enforced by organizations, which protect animal rights are the major factors impeding the growth of the market.
As a result, the adoption of alternative methods such as in-vitro tests, micro-dosing, computer-based models, virtual testing of new drugs, and the development of computerized databases for testing purposes is rapidly increasing. However, modalities with non-invasive imaging techniques such as MRI and CT scans are making their way in the market. The COVID 19 outbreak, in 2020, had a considerable influence on the market, resulting in a drop in preclinical imaging device manufacturing as well as delays in the import and export of devices, creating extensive business disruption. However, the market is gradually returning back to normal as national lockdowns and sales banned have been lifted. For instance, Bruker's revenues fell by 4.1 percent in 2020, however orders and revenues recovered sequentially in the second half of the year as business circumstances improved.
The optical imaging devices segment dominated the market and captured the largest revenue share of 13.7% in 2021. This is owing to their wide usage in small animal imaging and new drug discovery projects. Multi-modal imaging devices segment is anticipated to show a significant growth rate during the forecast period. Technology advancements have led to the development of integrated systems that include molecular and anatomical digital imaging systems, which enable multiple screening in a single unit; these new generation devices with integrated imaging technologies are anticipated to boost the growth of the multi-modal imaging devices market in preclinical studies.
The reagents segment accounted for a significant share in 2021 as these products are widely used in all imaging procedures. Thus, the purchase of these products is frequent, unlike in the case of the imaging devices. The steady pace of technological advancement is resulting in the widening of the applications of these devices. Oncology research is one of the significant application segments of preclinical imaging devices. The advanced multi-modal devices with increased sensitivity that are enhanced by digitalization and a user-friendly interface find wide applicability in oncology research. Cardiology, obstetrics, and gynecology research are some of the other application areas of these devices.
North America dominated the preclinical imaging market and accounted for the largest revenue share of over 29% in 2021. The major drivers of the market in North America include a well-developed research infrastructure, the availability of skilled professionals, a large number of preclinical projects, and higher adoption rates of technically advanced devices in the region. Moreover, government initiatives are encouraging new clinical research and development projects in the region. Canadian R&D tax credit program is an example of one such government initiative boosting the R&D efforts in the country. Government support in the form of funding and tax benefits is positively impacting the market. Considering the above-mentioned factors, North America is anticipated to maintain its dominance throughout the forecast period.
Asia Pacific is growing at a lucrative rate in the market. Factors such as low research costs, less-stringent regulatory guidelines, increased government funding for the development of the research and development sector in the respective countries are making the region attractive for Preclinical research studies. As a result, the Clinical Research Outsourcing (CRO) industry is booming in emerging countries, such as China and India
The market is highly fragmented and competitive. Market players are involved in implementing strategic initiatives, such as product upgrades, regional expansions, portfolio diversification, and mergers and acquisition. In addition, these players are constantly collaborating with Academic centers and Universities and other end use to influence the preclinical studies in the market. MR Solutions received purchase order for their preclinical devices of up to USD 10 million from top universities, in October 2020. PET/CTs, PET/MRs, and 9.4T and 7T cryogen-free DRY magnets were the top sellers, among market players. Some of the prominent players in the preclinical imaging market include:
Bruker Corporation
Siemens A.G.
General Electric (GE)
TriFoil Imaging
PerkinElmer, Inc.
VisualSonics Inc. (Fujifilm)
Mediso Ltd.
Agilent Technologies
MILabs B.V.
MR Solutions
Molecubes
Report Attribute |
Details |
Market size value in 2022 |
USD 4.1 billion |
Revenue forecast in 2030 |
USD 5.5 billion |
Growth rate |
CAGR of 3.8% from 2021 to 2028 |
Base year for estimation |
2021 |
Historical data |
2018 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, end use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; Japan; India; South Korea; Brazil; Mexico; Argentina; Saudi Arabia; South Africa; UAE |
Key companies profiled |
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; Molecubes |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global preclinical imaging market report on the basis of product, application, end use and region:
Product Outlook (Revenue, USD Million, 2017 - 2030)
CT Imaging
MRI Imaging
PET/SPECT Imaging
Multi-modal Imaging
Optical Imaging
Ultrasound Imaging
Photoacoustic Imaging
Reagents
Services
Application Outlook (Revenue, USD Million, 2017 - 2030)
Research and Development
Drug Discovery
End Use Outlook (Revenue, USD Million, 2017 - 2030)
Biotech Companies
Pharmaceutical companies
Research institutes
Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East and Africa
South Africa
Saudi Arabia
UAE
b. The global preclinical imaging market size was estimated at USD 3.25 billion in 2021 and is expected to reach USD 4.1 billion in 2022.
b. The global preclinical imaging market is expected to grow at a compound annual growth rate of 3.8% from 2022 to 2030 to reach USD 5.5 billion by 2030.
b. North America segment dominated the preclinical imaging market with a share of 29.9% in 2021. This is attributable to well-developed research infrastructure, the availability of skilled professionals, a large number of preclinical projects, and higher adoption rates of technically advanced devices in the region.
b. Some key players operating in the preclinical imaging market include 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
b. Key factors that are driving the preclinical imaging market growth include the rising number of investments in research and development coupled with the constant pace of technological advancement
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