Dec 18, 2020   SOURCE: BusinessWire

Worldwide Industry for Medical Imaging Reagents to 2027 - Growth Opportunities in Emerging Markets - ResearchAndMarkets.com

The "Medical Imaging Reagents Market by Class, Technology and Application: Global Opportunity Analysis and Industry Forecast, 2019-2027" report has been added to ResearchAndMarkets.com's offering.

The global medical imaging reagents market was valued at $11,698 million in 2019, and is projected to reach $17,329 million by 2027, registering a CAGR of 5. 0% from 2019 to 2027.

Medical imaging reagents are chemicals used to visualize structures or organs, thus assisting physicians to better diagnose and detect diseases. Thus, these compounds are widely applicable in imaging and detection technologies used in the healthcare and medical industry and various life science-related fields such as biotechnology, medicine, and pharmaceutical research. The commonly used imaging technologies, such as computed tomography, X-ray, and magnetic resonance imaging, analyze anatomy & morphology of a human body; however, these techniques cannot detect any changes at the molecular level.

The rise in cases of chronic diseases such as cancer and cardiovascular diseases, surge in technological advancements, development in medical imaging reagents, and high unmet medical and diagnostic imaging procedure needs are the key factors that fuel growth of the global medical imaging reagents market. For instance, cardiovascular diseases are one of the leading causes of deaths across the globe. Moreover, aged patients are at highest risk of suffering from chronic diseases; thus, rapid increase in geriatric population is expected to further drive the demand for medical imaging reagents. In addition, growth in demand for medical imaging reagents, owing to The rise in number of cancer patients who need superior diagnostic imaging techniques, such as photoacoustic imaging technique and imaging reagents, for improved diagnosis also contributes toward growth of the market. Moreover, The rise in geriatric population, increase in expenditure on healthcare, and growth in demand for effective procedures and safe medication are expected to fuel the market growth.

In addition, another major factor that boosts medical imaging reagents market growth include the rise in awareness related to early disease diagnosis. For instance, early diagnosis of chronic diseases increases chances of successful treatment. Therefore, healthcare providers continuously emphasize on early diagnosis of clinical disorders which include the use of medical imaging techniques that in turn involve the use of medical imaging reagents.

Conversely, untapped emerging markets in developing countries are expected to provide remunerative opportunities for the market players. For instance, healthcare systems in developing countries such as Brazil, India, and China have experienced a significant increase in investments in healthcare and infrastructure which leads to a surge in demand for genetic testing in the region. However, a lack of imaging reagent suppliers and strict government regulations are expected to hinder the growth of the market.

The global medical imaging reagents market is segmented on the basis of class, technology, application, and region. By class, it is divided into contrast reagents, optical reagents, and nuclear reagents. The technology segment includes nanoparticles, fluorescent dyes & probes, radiopharmaceuticals, fluorescent proteins, and quantum dots. By application, it is categorized into diagnostics, drug discovery & development, and educational research. Region wise, the market is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, Taiwan and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Key Benefits

  • This report entails a detailed quantitative analysis along with the current global medical imaging reagents market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessments.
  • The market size and estimations are based on a comprehensive analysis of key developments in the industry.
  • A qualitative analysis based on innovative products facilitates strategic business planning.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market

Market Dynamics

Drivers

  • Increase in Prevalence of Chronic Diseases
  • The Rise in Awareness for Early Disease Diagnosis
  • Surge in Demand for Diagnostic Imaging Procedures

Restraints

  • Shortage of Supplies of Imaging Reagents
  • Lack of Access in Underdeveloped Countries

Opportunities

  • Growth Opportunities in Emerging Markets

List of key players profiled in the report:

  • Bayer AG,
  • Bracco SpA
  • Cardinal Health
  • Eli Lilly and Company
  • General Electric Company (GE Healthcare)
  • Lantheus Holdings, Inc.
  • LI-COR Biosciences Inc.
  • Merck KGaA (Sigma-Aldrich)
  • PerkinElmer, Inc.
  • Thermo Fisher Scientific Inc.

For more information about this report visit https://www.researchandmarkets.com/r/bjevhv