The global preclinical imaging market is expected to reach a value of USD 910.4 Million by 2021; growing at a CAGR of 6.2% during 2016-2021.
A number of factors such as 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 global preclinical imaging market. However, factors such as strict regulatory framework that governs preclinical researches, and significant installation and operational costs associated with preclinical imaging modalities are some of the major factors restraining the growth of this market. In addition to this, technological & procedural limitations associated with standalone systems is a major challenge for players in this market.
In 2016, the global preclinical imaging market is expected to be dominated by North America. A number of factors such as robust R&D infrastructure for life science researches, fast adoption of novel molecular imaging technologies, significant presence of pharmaceutical and biotechnology companies, and increasing preference of end users for multimodality systems are driving the growth of the preclinical imaging market in the North American region.
The Asia-Pacific market is expected to grow at the highest CAGR from 2016 to 2021. This is primarily due to the continuous government support for pharmaceutical and biotechnology R&D, increasing public-private investments to support radioisotope production, rising number of translational research activities, and evolving regulatory scenario across major Asian countries.