SAN FRANCISCO, May 13, 2020 /PRNewswire/ -- The global optical preclinical imaging market size is expected to reach USD 543.0 million by the end of 2027, expanding at a CAGR of3.3%, according to a new report by Grand View Research, Inc. Increasing number of preclinical studies aimed to study and develop various effective therapeutics for different diseases is a major factor boosting the adoption of optical preclinical imaging systems.
Key suggestions from the report:
North America accounted for the largest share in 2019 owing to well-established research infrastructure, adoption of guidelines for preclinical research, product approvals, and higher number of drug development projects
Based on product type, in the device segment, bioluminescence captured the largest optical preclinical imaging market share in 2019 owing to high sensitivity and broad dynamic range as compared to other techniques for imaging animals used in various studies
The bioluminescence segment is expected to witness significant growth over the forecast period due to increasing adoption of bioluminescence technology to visualize and study disease processes in laboratory animals
By end use, the pharma and biotech companies segment accounted for the largest optical preclinical imaging market share in 2019 owing to increasing number of candidates in drug development studies and increasing focus on research and development for drug development and innovation
The research institutes segment is expected to witness the fastest growth during the forecast period owing to rising adoption of advanced optical imaging systems in the research institutes
Leading players operating in the market for optical preclinical imaging include Bruker; Perkin Elmer, Inc.; MR Solutions; BioTek Instruments, Inc.; Milabs B.V.; Fujifilm Holdings Corporation; Magnetic Insight, Inc.; MBF Bioscience; and Mediso Ltd.
For instance, in December 2018, Bugworks Research, a drug discovery startup based in India, received US$ 3 million grant from CARB-X, a Boston-based organization. The grant was offered to support the development of preclinical trail for novel molecules to fight antimicrobial resistance. Moreover, various researchers are engaged in finding novel ways to increase the reproducibility and robustness of preclinical cancer research with an aim to reduce the failure rate of oncology clinical trials. Optical imaging also allows cost-effective and high-throughput animal study as compared to small animal molecular imaging technologies, including PET and MRI systems.
Grand View Research has segmented the global optical preclinical imaging market on the basis of product type, end use, and region:
Optical Preclinical Imaging Product Type Outlook (Revenue, USD Million, 2016 - 2027)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.