(PRWEB) February 25, 2015
According to the report published by MarketsandMarkets pre-clinical imaging has witnessed significant importance in the drug discovery and development in recent times. Development of technologically advanced and multi-modality preclinical imaging systems is considered to be some of the strong driving factors for this market. According to the report increased adoption of these systems in the preclinical research studies are expected to act as a driving factor for the global preclinical imaging market.
The report estimates North America (except Mexico) and major parts of Europe as mature markets for the pre-clinical imaging systems and reagents. It attributes high growth opportunities in the Asia-Pacific region to the rising number of CROs offering pre-clinical research studies and increasing outsourcing of this research to the developing Asian countries. Increasing government funding for pharmaceutical R&D activities in emerging Asia-Pacific countries are also significant driving factors for the market.
According to the report, the pre-clinical imaging market is expected to grow at a CAGR of 6.0% from 2014 to reach $ 797 million by 2019. According to the report, mature markets from the developed countries hold the largest shares in this market. However Asia-Pacific region is poised to grow at the highest CAGR of 8.2% in the next five years. Factors such as increased outsourcing of pre-clinical research activities to Asia-based CROs by big pharmaceutical and biotechnological companies are expected to drive the market growth.
According to the report growth of the global pre-clinical imaging market is driven by factors such as development of technologically advanced hybrid pre-clinical imaging systems and their growing acceptance as a legitimate drug development tool. Nonetheless, the report expects declining NIH (National Institutes of Health) funding for life science research, high implementation cost of preclinical imaging devices and high cost and data requirements as the major restraining factors for the market.
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This report segments the pre-clinical imaging market on the basis of the types of modalities and reagents. Apart from that, the report also analyzes the market on the basis of the geographic regions. it expected the optical imaging systems segment to hold the largest share in this market which is followed by nuclear imaging systems segment. In terms of geographic regions the report expects North America to dominate the global market in terms of market shares followed by Europe.
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