LONDON, Oct. 18, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the small animal imaging (in-vivo) market, 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.
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The global small animal imaging (in-vivo) market size is expected to grow from $2.06 billion in 2021 to $2.27 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. 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, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The small animal imaging (in-vivo) market is expected to grow to $3.38 billion in 2026 at a compound annual growth rate (CAGR) of 10.5%.
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.
Major players in the market are Bruker, PerkinElmer, Miltenyi Biotec, Aspect Imaging Ltd, Mediso Ltd, LI-COR Biosciences, Life Technologies Corporation, Trifoil Imaging, Promega Corporation, New England Biolabs, MR Solutions Ltd, General Electric, Sofie Biosciences Inc, Biospace Lab, and Agilent Technologies Inc.
The global small animal imaging (in-vivo) market analysis is segmented by component into micro-MRI, optical imaging, nuclear imaging, other components; by application into monitoring treatment response, bio distribution, determining drug or target engagement, cancer cell detection, biomarkers, longitudinal studies, epigenetics; by end user into veterinary clinics, veterinary hospitals, veterinary institutes and research centers.
North America was the largest region in the small animal imaging (in-vivo) market in 2021. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in small animal imaging (in-vivo) market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Small Animal Imaging (In-Vivo) Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide small animal imaging (in-vivo) market forecast size and growth, small animal imaging (in-vivo) market segments and geographies, small animal imaging (in-vivo) market trends, small animal imaging (in vivo) market drivers and restraints, small animal imaging (in vivo) market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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