Market Insights:
In vivo imaging facilitates the early detection of biological abnormalities in a living being and helps in curbing its ill effects which have catalyzed the demand in the global in vivo imaging market. Market Research Future (MRFR) has unfolded in its latest report that the global in vivo imaging market trends will witness demand escalation leading to maximization of profits by 2023.
The potential of in vivo imaging industry has been proven in treating lethal diseases such as cancer, tumor, etc. which has led to its rapid adoption in the healthcare sector. According to a report published by the World Health Organization (WHO) in 2017, one out of every six deaths had been caused by cancer in 2015. National Cancer Institute, the U.S., reveals that about 1.6 million new cases of cancer were diagnosed in 2010. It also highlighted that the healthcare expenditure for cancer treatment would reach approximately USD 156 Bn by 2020 from USD 125 Bn in 2010. The rising burden of cancer has generated the demand for integrating in vivo imaging solutions into cancer diagnosis for effective treatment.
The growing inclination towards preventive healthcare diagnosis is the key driver of the market expansion. The rising incidences of diseases have inflicted a fear among the population which when coupled with multiplied disposable income has fueled the need for frequent checkups, thereby, amplifying the market size of in vivo imaging. Other factors favoring the increasing revenue creation from the market are increased healthcare expenditure, developments in the healthcare sector, research development activities, etc.
However, the factors prevailing in the market that will hold the market growth during the review period include low healthcare expenditure in developing economies, lack of awareness, and uneven technological penetration in the healthcare sector, among others.
Market Segmentation:
By applications, the global in vivo imaging market has been segmented into nuclear imaging, optical imaging, and others.
By techniques, the in vivo imaging market is segmented into radioisotopes based, biomarkers based, luminescent proteins-based technique, and others.
By end users, the global in vivo imaging market has been segmented into hospitals clinics, imaging centers, research organizations, and others.
Regional Analysis:
By region, the global in vivo imaging market insight has been segmented into North America, Europe, Asia, and Middle East Africa. North America has witnessed millions of deaths in the last decade due to cancer which has necessitated the adoption of in vivo imaging market in the region. Its penchant for latest technology has catalyzed the developments in the healthcare sector which is fueling the market for in vivo imaging. Europe region is also burdened by the rising incidences of cancer which is the key factor complementing the market expansion. Furthermore, the increasing healthcare expenditure and rising awareness about fatal diseases will catapult the growth rate of the market.
Asia market will grow at a steady CAGR throughout the assessment period. The growth in this region can be attributed to the initiatives undertaken by governments and established corporate houses for revenue creation from medical tourism. Other factors responsible for the catalyzed market expansion of the region are increased disposable income, a bullish trend witnessed in the healthcare sector, increasing count of patients, etc.
Competitive Dashboard:
The cohesive growth strategies employed by the key players depict the robust competition in the market responsible for the growth and expansion. The top-notch players profiled by MRFR in its report include Bruker, MILabs B.V., FUJIFILM VisualSonics Inc., Mediso Ltd., LI-COR, Inc., Aspect Imaging., TRIFOIL IMAGING, MR Solutions, Biospace Lab S.A., and, New England Biolabs among others. The tactical gambits of these players for strengthening market foothold and gaining prominence include clinical trials, increased investments, technological advancements, product diversification, business expansion, etc.
Industry Developments:
In March 2018, Luxendo, a Bruker company, announced the extension of the InVi SPIM microscope to include full incubation capabilities, detection optics, and, flexible illumination using its proprietary single-plane illumination microscopy (SPIM) technology. The technology creates an optimized platform for ‘pure life imaging’.
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