(I-BusinessNews.Com, March 09, 2021 ) According to research report the preclinical imaging market is expected to reach USD 910.4 Million by 2021, growing at a CAGR of 6.2% during 2016 to 2021.
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A number of factors such as 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 and funding to support preclinical researches are propelling the growth of the preclinical imaging market.
The key players in the preclinical imaging market focus on various strategies such as product approvals, launches, and enhancements; geographic expansions; partnerships, agreements, and collaborations; and strategic acquisitions in order to increase their market shares in the global preclinical imaging market. Product approvals, launches, and enhancements was the key strategy adopted by major industry players to achieve growth in the preclinical imaging market. This strategy was majorly adopted by 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). Apart from product approvals, launches, and enhancements; many prominent players also adopted geographic expansion as one of their growth strategies 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.
As of 2015, PerkinElmer, Inc. held the leading position in the preclinical imaging market owing to its robust product portfolio and its strong geographic presence across major markets (such as the U.S., Europe, China, Japan, Australia, and India). The company primarily focuses on developing technologically advanced preclinical imaging systems as its key growth strategy to sustain its leadership position in the global preclinical imaging market. In line with this strategy, during 2013-2016, the company launched numerous preclinical imaging products including Solaris quantitative optical molecular imaging system (in September 2014); IVIS Lumina XRMS Series III and IVIS SpectrumBL (in January 2014); and IVIS Lumina Series III (in January 2013), among others. Furthermore, the company adopted geographic expansion as another key growth strategy in order to strengthen their R&D and sales capabilities. In line with this, PerkinElmer established its new R&D centers in China (May 2014), the U.S. (October 2013), and Germany (April 2013). Additionally, the company opened its new offices in Italy (July 2014), and Israel (April 2013).
Bruker Corporation (U.S.) held the second position in the preclinical imaging market in 2015. This is mainly attributed to the wide geographical presence and strong product portfolio of the company in the global preclinical imaging market. The Bruker Corporation offers a complete line of preclinical imaging modalities including multi-modality products for the preclinical imaging of small animals. The company has primarily adopted product approvals, launches, and enhancements as its key growth strategy to strengthen its position in the global preclinical imaging market.
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In line with this strategy, the company launched the SkyScan 1275 X-ray microtomography system (in October 2015); Albira Si PET/SPECT/CT Trimodality System, BioSpec 3T Preclinical MRI System, BioSpec 3T PET/MRI System, and High-sensitivity Xtreme II Optical Molecular Imaging System (in September 2015); SkyScan 1278 and BioSpec 210/11 (in September 2014); Magnetic Particle Imaging (MPI) system (in September 2013); and SkyScan 1272 preclinical CT imaging system (in March 2013). Additionally company also adopted geographic expansion strategy to strengthen its R&D capabilities and brand positioning in global market. For instance, the company established new Preclinical Imaging (PCI) Center in Singapore (October 2014), Preclinical Imaging Center of Excellence in Massachusetts (U.S.) (January 2014), and two new Centers of Excellence in India (February 2013).
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