New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Small Animal Imaging (In-Vivo) Global Market Report 2023" - https://www.reportlinker.com/p06433425/?utm_source=GNW
, General Electric, Sofie Biosciences Inc., Biospace Lab, and Agilent Technologies Inc.
The global small animal imaging (in-vivo) market grew from $2.28 billion in 2022 to $2.54 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The small animal imaging (in-vivo) market is expected to grow to $3.8 billion in 2027 at a CAGR of 10.6%.
The small animal imaging (in-vivo) market includes revenues earned byPET, X-ray CT, MRI, and SPECT scanners.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Small animal imaging (in-vivo) refers to the advanced imaging techniques for monitoring cellular activity, pharmacological effects that have been developed, and disease progression in live animals. The small animal imaging (in-vivo) is used to observe, define, and quantify normal and pathologic processes in living animal organs and tissues non-invasively.
North America was the largest region in the small animal imaging (in-vivo) market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in small animal imaging (in-vivo) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of small animal imaging (in-vivo) are micro-MRI, optical imaging, nuclear imaging, and other components.Micro-MRI refers to a non-invasive technique that produces detailed 3-dimensional (3D) images of tissues without the use of harmful radiation.
The various applications include monitoring treatment response, biodistribution, determining drug/target engagement, cancer cell detection, biomarkers, longitudinal studies, and epigenetics which are used in veterinary clinics, veterinary hospitals, and veterinary institutes and research centers.
Growing expenditure for the healthcare sector is expected to propel the growth of the small animal imaging (in-vivo) market going forward.Healthcare expenditure refers to the overall cost of health care (including public and private expenditures) as a percentage of GDP.
Rising healthcare expenditure and increasing healthcare awareness, encourage the concept of self-care management where PET equipment is used in techniques such as small animal imaging. For instance, according to data released by the Organisation for Economic Co-operation and Development, a France-based intergovernmental economic organization, in 2020 health spending as a share of GDP jumped to 9.7% across OECD countries, up from 8.8% in 2019. A group of 17 OECD countries suggests that health spending continued to grow strongly in 2021 by around 6%. Therefore, growing expenditure for the healthcare sector is driving the growth of the small animal imaging (in-vivo) market.
Technological advancement is a key trend gaining popularity in the small animal imaging (in-vivo) market.Major companies operating in the small animal imaging (in vivo) market are focused on technological advancement to strengthen their position.
For instance, in April 2022, PerkinElmer, Inc., a US-based company engaged in business areas such as diagnostics, life science research, and imaging, launched the Vega imaging system, an automated advanced technology ultrasound platform. The automated technology involves the use of two automated transducers, resulting in easy-to-use technology and generating more consistent results to visualize the pathophysiology of the disease.
In August 2021, Rigaku Corporation, a Japan-based global manufacturer and distributor of scientific and industrial instrumentation primarily in X-ray and imaging technologies, acquired MILabs B.V. for an undisclosed amount. With this acquisition, Rigaku enlarged its global life sciences modality business by merging its original X-ray imaging business with MILabs’ multi-modality businesses for animals, which included PET (Positron Emission Tomography), SPECT (Single Photon Emission Computed Tomography), Optical Imaging, and CT (Computed Tomography) equipment. MILabs B.V. is a Netherland-based company engaged in the development and manufacturing of molecular preclinical imaging systems such as SPECT, PET, CT, and optical imaging systems operating in small animal imaging(in-vivo).
The countries covered in the small animal imaging (in-vivo) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The small animal imaging(in-vivo)market research report is one of a series of new reports that provides small animal imaging(in-vivo)market statistics, including small animal imaging(in-vivo)industry global market size, regional shares, competitors with a small animal imaging(in-vivo)market share, detailed small animal imaging(in-vivo)market segments, market trends and opportunities, and any further data you may need to thrive in the small animal imaging(in-vivo)industry. This small animal imaging(in-vivo)market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06433425/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
