SMALL ANIMAL IMAGING MARKET ANALYSIS

Small Animal Imaging MarketSize and Trends

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).

Figure 1. Global Small Animal Imaging Market Share (%), By Region, 2022

Rising cases of chronic diseases such as cancer, diabetes, cardiovascular disease, and others creates a demand for personalized medicine which can be achieved using small animal imaging. This is expected to drive growth of the global small animal imaging market over the forecast period.

For instance, according to data published in the International Diabetes Federation (IDF) Diabetes Atlas Tenth edition 2021, in December 2021, it is estimated that around 537 million adults (20-79 years) were suffering from diabetes across the globe in 2021. The same source also estimates that the total number of people suffering from diabetes will rise to around 643 million by 2030 and 783 million by 2045, globally.

Figure 2. Global Small Animal Imaging Market Value (US$ Mn), By Product Type, 2022

Increasing R&D in the field of drug development and disease detection using small animal imaging systems is expected to drive market growth over the forecast period.

Small animal imaging requires animals to be injected with a radioactive biomolecule, targeting a key biomarker which controls the disease progression in case of cancer, sickle cell disease (SCD), and others. MRI, X-ray, and other imaging devices are used in development and characterization of imaging biomarkers which help to assess drug resistance and response.

Rapid research in the field of biomarkers and small animal imaging is expected to drive the growth of global small animal imaging market. For instance, according to an article published by the Blood Advances journal in September 2020, very late antigen-4 (VLA-4) has been identified as a non-invasive positron emission tomography (PET) imaging biomarker used to detect vaso-occlusive crises in case of sickle cell disease (SCD) in the U.S.

Global Small Animal Imaging Market – Impact of Coronavirus (Covid-19) Pandemic

SARS-CoV-2 (Severe acute respiratory syndrome coronavirus) was first reported from Wuhan, China in December 2019, and was declared as a global pandemic by the World Health Organization (WHO), which designates this SARS-CoV-2 infection as novel Coronavirus (COVID-19). According to the Coronavirus (COVID-19), Weekly Epidemiological Update by the World Health Organization, COVID-19 has spread across the globe infecting over 541 million population leading to more than 6.3 million deaths as of June 26, 2022. The negative impact of COVID-19 on the healthcare domain is huge and it has significantly disrupted the healthcare industries’ entire supply chain, from raw materials to manufacturing and delivery. However, the COVID-19 pandemic had a positive impact on the overall growth of the small animal imaging market, owing to use of small animal imaging systems to develop new tools, vaccines, and treatments for COVID-19 patients. The supply and production of imaging products also increased due to the necessity for research and development activities during the COVID-19 pandemic.

For instance, according to a report published by the Francis Crick Institute in the U.K., in July 2020, animal research and development activities are expected to increase during the COVID-19 pandemic. The pandemic has brought attention to the necessity of animal research in the development of safe and effective vaccines. The developments has [sic] also paved the way for new ways of working, such as a greater emphasis on bioinformatics and enhanced data sharing.