Preclinical Imaging (In-VIVO) Market size will witness a substantial growth in the forecast period with rising investments for monitoring treatment response for early disease diagnosis along with cancer cell detection, bio distribution and drug target. Preclinical imaging (In-VIVO) is gradually used across several drug development processes, with applications ranging from compound optimization, to target identification studies. The use of preclinical imaging (In-VIVO) across several domains will boost the industry growth.
Technological innovations such as combination of high resolution MRI with other imaging modalities should propel industry growth. The new imaging systems incorporate novel technologies, electronics, detectors, reconstruction algorithms and innovative software system modelling. Increasing amount of funding and public-private initiatives to discover the underlying mechanisms of diabetes, immunological, cardiovascular, and neurodegenerative diseases is likely to boost the preclinical imaging (In-VIVO) market growth. High product price leading to decreased adoption rates among academic institutions and limited application of each modality can negatively impact the growth.
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Oncology is likely to account for highest revenue share during the forecast period. It remains a foremost focus of the pharmaceutical companies, and companies are heavily investing to move biologics and drugs from clinical development phases to regulatory approval. Anatomical imaging, neurology and cardiology are likely to grow at healthy rate by 2024. By end use, research organizations segment is poised to account for major revenue share due to wide usage in research organizations to conduct numerous studies. Increasing purchasing power of the end user in the developing and underdeveloped economies will collectively contribute towards industry growth.
U.S. will dominate the global revenue share owing to presence of established infrastructure and major public and private companies. European preclinical imaging (In-VIVO) market held the second largest revenue share in 2016. Increasing R&D and favorable growth opportunities for players in the region will drive the region growth. Asia Pacific preclinical imaging (In-VIVO) market is expected to rise at comparatively faster rate in comparison to developed regions. India is likely to exhibit the highest CAGR by 2024 with growing number of research and pharmaceutical organizations for disease diagnosis.
Middle East and Africa preclinical imaging (In-VIVO) market share will exhibit a moderate growth during the forecast period. South Africa and Saudi Arabia are significant marketplaces in region accounting for rewarding growth opportunities. Several globally recognizable brands are available in South Africa, and there is continuously increasing competition from local players resulting in many public-private collaborations.
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Some of the key players operating in preclinical imaging (In-VIVO) market are Takara Bio, Bruker Biospin, Carestream Health, PerkinElmer, Evrogen, Agilent Technologies, BD Biosciences, Berthold Technologies, GE Healthcare, Hamamatsu Photonics, Mauna Kea Technologies, Hitachi Medical Systems, Thermo Fisher Scientific, LaVision, Promega, IDEX Health & Science, Siemens Healthcare, UVP, LI-COR, m2m Imaging, Visage Imaging, Takeda Pharmaceutical Company, New England Biolabs, Nikon, and Koninklijke Philips.
Collaboration with domestic companies, merger and acquisitions and new product launches are generally preferred policies adopted by industry players. For instance, Eli Lilly and Company and ImaginAb had a preclinical research collaboration to study possible novel T cell-based immuno-oncology treatments.