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Global In-vivo Imaging Market Size was valued at USD 2.5 Billion in 2022. The In-vivo Imaging market Application is projected to grow from USD 2.6 Billion in 2023 to USD 4.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2023 - 2032). A rise in funding for research and development as well as the quickening of technological advancements have led to the creation of hybrid imaging systems, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The market is growing primarily because to an increase in R&D investments and funding as well as the quickening pace of technological advancements that have resulted in the development of hybrid imaging systems. Preclinical research is altering how health problems are handled and how modern medicine is practiced. Preclinical imaging techniques completely follow the 3R (Replacement, Reduction, and Refinement) tenets by lowering biological variability, gathering a tremendous amount of unique data in multiple formats, and dramatically lowering the number of animals required for a specific study.
In-vivo imaging systems are also being utilized more frequently in preclinical research as there are more Clinical Research Organisations (CROs) and pharmaceutical companies, which is projected to further fuel the market's expansion for preclinical imaging. In order to establish their first comprehensive preclinical imaging suite, the USF Health Morsani College of Medicine will install new 7T-3T MR/PET and PET-CT systems by MR solutions in July 2020. On the other hand, restrictions on animal testing imposed by laws that are upheld by organizations that advocate animal rights serve as the main obstacles to the market's expansion.
As a result, more and more people are turning to alternative methods such in-vitro testing, micro-dosing, computer-based models, virtual drug testing, and the development of computerized databases for testing. The use of non-invasive imaging techniques like MRI and CT scans is beginning to grow, though. The COVID 19 outbreak in 2020 had a substantial effect on the sector, leading to a fall in preclinical imaging equipment output as well as delays in the import and export of devices, severely impairing business operations. However, the market is gradually returning to normal now that the nationwide lockdowns and sales bans have been lifted. For instance, Bruker's revenues fell by 4.1% in 2020, but the second half of the year saw a steady rise in both orders and revenues as the economy strengthened.
The increase in the usage of optical preclinical imaging is primarily due to technological advancements in molecular imaging. Nuclear medicine and molecular imaging have a large and continuing positive impact on diagnosis and treatment. The rise in chronic illness prevalence, a marked increase in the population's ageing, and more constrained global resources are some of the major factors impacting the development of the nuclear medicine and molecular imaging sector. Thus, driving the In-vivo Imaging market revenue.
The global In-vivo Imaging market segmentation, based on Application, includes nuclear imaging and optical imaging. Optical imaging segment dominated the global market in 2022. This is due to the fact that they are commonly utilized in studies to discover novel drugs and to take pictures of tiny critters. Over the course of the anticipated period, a large expansion of the in-vivo imaging market is anticipated. The development of multi-modal imaging devices is expected to accelerate in preclinical research thanks to next-generation devices with integrated imaging technologies. Technology advancements have led to the development of integrated systems, including molecular and anatomical digital imaging systems, that allow for multiple screening in a single unit.
The nuclear imaging sector made for a large portion of the imaging market in 2022 due to the extensive use of these goods in all imaging procedures. As a result, these products are bought more frequently than imaging instruments. The variety of applications for these devices is growing as a result of the constant pace of technological advancement. Oncology research is a crucial area for preclinical imaging technology. The latest multi-modal gadgets with increased sensitivity that are enhanced by digitalization and a user-friendly interface are widely used, according to oncology study. These tools are also used in cardiology, obstetrics, and gynaecology research.
The global In-vivo Imaging market segmentation, based on Technique, includes radioisotopes based, biomarkers based, luminescent proteins based, and others. Radioisotopes based segment dominated the global market in 2022. This is due to the widespread use of radioisotope-based imaging systems in preclinical research studies around the globe, their high cost, and the development and commercialization of new, cutting-edge preclinical imaging technologies.
The global In-vivo Imaging market segmentation, based on End Use, includes hospitals & clinics, imaging center, research organization, and others. Hospitals & clinics segment dominated the global In-vivo Imaging market in 2022. The existence of significant actors, an increase in global healthcare spending, and an increase in drug discovery are the causes of this. An increase in research and development activities, the number of hospitals offering optical preclinical imaging services, and rising healthcare spending are other factors that are projected to propel the overall in-vivo imaging market.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The Asia Pacific In-vivo Imaging market dominated this market in 2022 (45.80%). Preclinical research studies are attracted to the region due to factors like inexpensive research costs, lax regulatory standards, and increased government financing for the expansion of the research and development sector in the various countries. As a result, developing nations like China and India are experiencing rapid growth in the Clinical Research Outsourcing (CRO) market. Moreover, In the Asia-Pacific region, the Indian In-vivo Imaging market had the quickest rate of growth while China's In-vivo Imaging market had the greatest market share.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The North America In-vivo Imaging Market is expected to register significant growth from 2023 to 2032. Some of the important market aspects in North America are the availability of qualified specialists, the sizeable number of preclinical projects, and higher adoption rates of technologically advanced equipment in the region. Government initiatives are also supporting regional clinical research and development programs. The Canadian R&D tax credit program is one of the government initiatives supporting national R&D activities. Government assistance in the form of funds and tax breaks benefits the market. The aforementioned factors indicate that North America will likely maintain its lead during the projection period. Further, In the North American area, the U.S. In-vivo Imaging market had the biggest market share, while the Canada In-vivo Imaging market had the quickest rate of expansion.
Europe In-vivo Imaging market accounted for the healthy market share in 2022. Rapid technological advancements, rising healthcare prices, and healthcare services are some of the aspects that will benefit the sector. Further, In the European region, the German In-vivo Imaging market had the biggest market share, and the U.K. In-vivo Imaging market had the quickest rate of growth.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the In-vivo Imaging market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The In-vivo Imaging sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide In-vivo Imaging industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the In-vivo Imaging sector. Major players in the In-vivo Imaging market, including Bruker, MILabs B.V., FUJIFILM VisualSonics Inc., Mediso Ltd., LI-COR, Inc., Aspect Imaging., TRIFOIL IMAGING, MR Solutions, Biospace Lab S.A., and New England Biolabs, are attempting to increase market demand by investing in research and development operations.
Aspect Imaging is a manufacturer of medical imaging equipment that caters to the pre-clinical and medical industries. Medical professionals can solve complex biological problems and increase the profitability of process systems with the aid of the company's systems, which provide a self-shielded permanent magnet MRI technology platform that enables MRI systems to be installed at the Point-of-Care and helps in scanning newborns without requiring them to leave the NICU. In September 2017, Aspect Imaging declared that Quantum Analytics would represent its industrial product line as its sole U.S. reseller.
In Kurashiki, Japan, a private university known as Kawasaki Medical School was established in April 1970. To commemorate the medical school's 10th anniversary of creation and to aid medical and postgraduate students' independent learning, the Medical Museum of Kawasaki Medical School was built in 1981. The gathered materials in this museum have an emphasis on the display of modern medicine rather than historical artifacts. Students can learn more about the presented specimens and consolidate their understanding by gazing at them. In June 2019, the first MILabs E-Class U-SPECT6/CT system in Japan was installed at Kawasaki Medical University, a center for cutting-edge medical research and technology in Yokohama. Additionally, the university also bought an ultra-high-resolution E-Class U-SPECT6/CT system for preclinical imaging.
· Bruker
· MILabs B.V.
· FUJIFILM VisualSonics Inc.
· Mediso Ltd.
· LI-COR, Inc.
· Aspect Imaging.
· TRIFOIL IMAGING
· MR Solutions
· Biospace Lab S.A.
· New England Biolabs
May 2022: Bruker has unveiled cutting-edge 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets for its line of top-of-the-line preclinical MRI machines.
April 2022: PerkinElmer announced the expansion of its in vivo imaging portfolio with the launch of the Vega imaging system, a first-of-its-kind ultrasound platform that combines hands-free, automated technology with the high-throughput capability to accelerate non-invasive research and drug development studies of cancer, liver and kidney disease, cardiology, and more.
· Nuclear Imaging
· Optical Imaging
· Radioisotopes Based
· Biomarkers Based
· Luminescent Proteins Based
· Others
· Hospitals & Clinics
· Imaging Center
· Research Organization
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 2.5 Billion |
|
Market Size 2023 |
USD 2.6 Billion |
|
Market Size 2032 |
USD 4.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.30% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Application, Technique, End Use, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Bruker, MILabs B.V., FUJIFILM VisualSonics Inc., Mediso Ltd., LI-COR, Inc., Aspect Imaging., TRIFOIL IMAGING, MR Solutions, Biospace Lab S.A., and New England Biolabs |
|
Key Market Opportunities |
Rapid Adoption of in-vivo imaging |
|
Key Market Dynamics |
The growing number of investments and funding in research and development and the constant pace of technological advancements leading to the development of hybrid imaging systems |
The global In-vivo Imaging market size was valued at USD 2.5 Billion in 2022.
The global market is projected to grow at a CAGR of 5.30% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the global market
The key players in the market are Bruker, MILabs B.V., FUJIFILM VisualSonics Inc., Mediso Ltd., LI-COR, Inc., Aspect Imaging., TRIFOIL IMAGING, MR Solutions, Biospace Lab S.A., and New England Biolabs
The Optical Imaging Application dominated the market in 2022.
The Radioisotopes Based Technique had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65311
Published on :
Sep 2023
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