(EMAILWIRE.COM, October 06, 2020 ) This report studies the small animal imaging market over the forecast period of 2016 to 2021. The market is projected to reach USD 910.4 Million by 2021; growing at a CAGR of 6.2% during 2016 to 2021.

The technological advancements in the field of molecular imaging, increasing market demand for non-invasive small animal imaging techniques, and growing number of public-private initiatives to support preclinical researches are some key factors fueling the growth of the market.

Furthermore, emerging markets such as China and India are offering new growth opportunities for prominent market players. However, factors such as strict regulatory framework that governs preclinical researches, and significant installation and operational costs associated with preclinical imaging modalities are hampering the market growth.

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Emerging markets (such as China and India) are offering high growth opportunities for market players operating in the Small Animal Imaging Market. Continuous government support for pharmaceutical and biotechnology R&D, increasing public-private investments to support radioisotope production, rising number of translational research activities, and evolving regulatory scenario across major Asian countries are the key factors propelling the demand for small animal imaging procedures across emerging nations. In order to leverage the high growth opportunities in these emerging nations, leading market players are expanding their presence through partnerships with local market players and suppliers.

On the basis of products, the global small animal imaging market is divided into two major categories, namely, modalities and reagents. Small animal imaging systems market is further divided into seven segments, namely, optical imaging systems, nuclear imaging systems, MRI systems, ultrasound systems, CT systems, photo-acoustic imaging systems, and magnetic particle imaging systems.

Small animal imaging systems segment is estimated to command the larger share in the global small animal imaging market in 2016. The larger market share of modalities segment can primarily be attributed to the extensive & growing application of molecular imaging during preclinical researches, high cost of imaging systems, and development & commercialization of technologically advanced preclinical imaging systems.

The key players in the small animal imaging market focus on various strategies such as new product launches; geographic expansions; partnerships, agreements, and collaborations; and acquisitions in order to increase their market shares in the global small animal imaging market. Product development and commercialization was the key strategy adopted by leading industry players to achieve optimal revenue growth in the small animal imaging market.

PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), Mediso Ltd. (Hungary), MILabs B.V. (Netherlands), MR Solutions Ltd. (U.K.), and Aspect Imaging Ltd. (Israel) were major players that adopted this strategy for their market growth during 2013-2016. Additionally, geographic expansion was the second most favored growth strategy among prominent product manufacturers; that helped OEMs to strengthen their market presence, enhance their R&D capabilities, and generate additional demand by sensitizing end users about benefits offered by molecular imaging during in-vivo preclinical imaging studies.

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