Preclinical Imaging Market Base estimates & CAGR calculation Till 2024 “The global preclinical market size was worth USD 1.8 billion in 2015, which is anticipated to grow at a CAGR of more than 8.1% during the forecast period.�
The global Preclinical Market size was worth USD 1.8 billion in 2015, which is anticipated to grow at a CAGR of more than 8.1% during the forecast period. Constant technological advancements and increasing expenditure on research and development are some of the leading factors for such huge market size with more and more pharmaceutical companies targeting this market. Similarly, rise in the number of contract research manufacturing and increasing presence of medical device companies that comply well with the preclinical studies in in-vivo experiments would further drive the market growth. Use of various computerized database systems with advanced technology has increased over the years due to implementation of stringent laws and policies on animal testing which prevents exploitation of animals. Preclinical imaging has led to extraction of extremely detailed images of organs, cells, tissues and their anatomical features before and after the drug intake. Such methods of imaging along with micro-dosing, in-vitro tests have become an alternative for conventional methods. Preclinical imaging systems include MRI, CT scan that is categorized under non-invasive techniques and possesses great potential to grow in the coming years. Some of the major factors that may challenge the acceleration of the market is increased cost, lack of skilled staff, underdeveloped infrastructure and nonavailability such technically advanced devices in the third world countries. Government bodies of developing countries such as Japan, Mexico, and Brazil, are making huge investments to spread awareness about the use of pre-clinical devices for research studies, and thereby focusing on quality and safety. Regions such as Latin America, Middle East and Asia Pacific are witnessing increase in foreign investments, which is leading to greater revenue generation, for the market growth.
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