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SEATTLE , Sept. 14, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global small animal imaging market is estimated to be valued at US$ 977.7 million in 2022 and is expected to exhibit a CAGR of 7.1% over the forecast period (2022-2030).

Key Trends and Analysis of the Global Small Animal Imaging Market:

Key trends in market include rising cases of chronic diseases such as diabetes, cardiovascular disorders, cancer, etc., rising demand for personalized medicine, increasing approval of novel small animal imaging products, and increasing collaborations, acquisitions, and partnerships among key players. These key trends are expected to aid in growth of the global small animal imaging market.

The global incidence and prevalence of cancer is increasing globally. According to data published by the World Health Organization (WHO) in February 2022 , it is estimated that the number of new cases diagnosed was around 2.26 million cases of breast cancer, 2.21 million cases of lung cancer, 1.93 million cases of colon and rectum cancer, and 1.41 million cases of prostate cancer, globally in 2020.

Moreover, various research institutions are engaged in opening new small animal imaging facilities to offer technologically advanced imaging devices to researchers, which is expected to drive market growth over the forecast period. For instance, in January 2022 , the University of Maryland , U.S. announced the launch of its new Brain and Behavior Institute small animal MR facility (BBI-SAMRI) at its campus to allow anatomical, functional and connectomic (study of the brain's structural and functional connections between cells) analysis of the cardiovascular, nervous, and musculoskeletal systems using small animal models. This new imaging facility is equipped with a liquid helium-cooled coil (CryoProbe) to increase its capacity to image across a range of animal models. Moreover, this MR facility has crucial biological applications such as imaging central nervous system development and aging, photodynamic therapies, neuro-inflammation, and immune engineering.

Furthermore, key players operating in the global small animal imaging market are focusing on adoption of inorganic growth strategies such as partnerships, acquisitions, collaborations, and others in order to expand their market presence in the global market. For instance, in December 2021 , Battery Ventures, a U.S.-based technology focused investment firm announced the acquisition of LI-COR Biosciences, a U.S.-based biotechnology company focused on developing high quality instrument systems for small animal imaging, drug discovery, protein research, etc.

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Global small animal imaging market is expected to exhibit a CAGR of 7.1% over the forecast period, owing to rising research grants by government in various countries such as the U.K., the U.S., and others to accelerate R&D in dug development. For instance, in April 2020 , the Center for Animal MRI (CAMRI) at the Biomedical Research Imaging Center (BRIC), U.S. received a grant of US$ 2 million from the National Institute of Health (NIH) High-End-Instrumentation program to buy a new 9.4T-20 cm MRI (Magnetic Resonance Imaging) system from Burker, a U.S.-based manufacturer of scientific instruments. CAMRI also received North Carolina Biotech Institutional Development grant to buy imaging devices for rat and mouse brain imaging.

Among product type, Optical Imaging Systems segment is expected to account for the largest market share in 2022, owing to rising focus of market players in expanding their optical imaging system portfolio through the acquisition of other key players. For instance, in August 2021 , Rigaku Corporation, an international manufacturer and distributor of X-ray imaging instruments, announced that it acquired MILabs B.V., a Netherlands -based molecular imaging solutions provider, to add MILabs B.V.'s optical imaging systems to Rigaku Corporation's existing X-ray imaging business for animals.

Key players operating in the global small animal imaging market include Bruker, Aspect Imaging Ltd, TriFoil Imaging, LI-COR, Inc., FUJIFILM Holdings Corporation, Promega Corporation, Siemens Healthineers, Hallmarq Veterinary Imaging, Analytik Jena GmbH, Mediso Ltd., iThera Medical GmbH, MILabs B.V., Heska Corporation, Miltenyi Biotech GmbH, and PerkinElmer, Inc.

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Global Small Animal Imaging Market, By Product Type:

Global Small Animal Imaging Market, By Application:

Global Small Animal Imaging Market, By End User:

Global Small Animal Imaging Market, By Region:

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Find related trending report below:

Veterinary Imaging Market, by Products (Radiography Systems, Ultrasound Imaging Systems, Magnetic Resonance Imaging Systems, Computed Tomography Imaging Systems, Veterinary Endoscope System, Radionuclide Imaging System, Reagents and PACS Veterinary Software system), By Application (Orthopedics and Traumatology, Oncology, Cardiology, Neurology, and Other Therapeutic Areas), By End User (Veterinary Hospitals and Veterinary Clinics), By Animal Type (Small Companion Animals and Large Animals), and by Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India , having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan . Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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