Preclinical Imaging Market Size, Share & Trends Analysis Report By Product (CT, MRI, PET/SPECT, Multi-modal, Optical, Ultrasound, Photoacoustic (PAT), Reagents, Services), By Application, By End-use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

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.

Product Insights 

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.

Regional Insights

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 

Key Companies & Market Share Insights

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

Preclinical Imaging Market Report Scope

Segments Covered in the Report

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