The preclinical imaging market is projected to reach USD 5,101 million by 2029 from USD 3,997 million in 2024, at a CAGR 5.0% during the forecast period 2024-2029. The growth in this market is fuelled by the growing number of public-private initiatives and funding to support preclinical researches, increasing market demand for new drug development and noninvasive small-animal imaging techniques, and development of low-cost & affordable preclinical imaging systems.
Based on product type, the preclinical imaging market is segmented into imaging systems, reagents, and software. The imaging systems is further segmented into optical imaging, nuclear imaging, micro-MRI, micro-CT, micro-ultrasound, photoacoustic imaging, and magnetic particle imaging. In 2023, the optical imaging systems segment accounted for the largest share in the market. The increase in the number of bioluminescent and fluorescent imaging agents, availability of imaging enhancement software, relatively low cost of optical imaging systems (as compared to other preclinical imaging modalities), and rising number of life science research activities in emerging nations are expected to drive the growth of this segment.
Based on application, the preclinical imaging market is segmented into oncology, cardiology, neurology, infectious diseases, immunology and inflammation, and other applications. In 2023, the oncology segment accounted for the largest share in the market. Cancer is a prevalent disease that drives extensive research aimed at understanding, treating, and preventing it. Consequently, there is a substantial demand for preclinical imaging techniques to track tumor growth, assess treatment effectiveness, and detect metastasis.
Based on end user, the preclinical imaging market is segmented into pharmaceutical & biotechnology companies, academic and research centers, imaging centers, and other end users. In 2023, the pharmaceutical & biotechnology companies segment accounted for the largest share in the market. The demand for preclinical imaging in biotech companies has been steadily rising and is expected to continue growing in the coming years. This increased market demand in pharmaceutical and biotech companies can be attributed to the spread of emerging and re-emerging infectious diseases, necessitating preclinical imaging for a better understanding of pathogens and the development of new therapeutics and vaccines. Additionally, ongoing experimentation on small animals and laboratory research activities have driven the demand for PET and SPECT imaging, further fueling market growth.
The preclinical imaging market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2023, Asia Pacific was the fastest growing segment in preclinical imaging market attributed to the less stringent regulatory guidelines, and increased government funding for the development of the research and development sector in these countries are making the region attractive for preclinical research studies.
