Medical Imaging Reagents Market Expected to Reach USD 18.5 Billion Globally in 2019: Transparency Market Research
ALBANY, New York, June 17, 2014 /PRNewswire/ –
According to a new market report published by Transparency Market Research “Medical
Imaging Reagents Market (Class: Contrast Reagents, Optical Reagents and Nuclear Reagents;
Technology: Nanoparticles, Fluorescent Proteins, Fluorescent Dyes and Probes,
Radiopharmaceuticals and Quantum Dots & Application: Diagnostics, Drug Discovery and
Development and Research and Development) – Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2013 – 2019,” the global medical imaging reagents market was valued
at USD 10.3 billion in 2012 and is expected to grow at a CAGR of 8.8% from 2013 to 2019,
to reach an estimated value of USD 18.5 billion in 2019.
Browse the full Medical Imaging Reagents Market Report at
Medical imaging reagents are chemical compounds specially designed to enhance images
produced through imaging systems. Medical imaging reagents allow clinicians and healthcare
providers to determine whether a tumor is malignant or benign and enables to locate any
metastatic cancerous sites in the body. The development of a medical imaging reagent
involves synthesizing it to target a particular biological process, after which imaging
systems are adjusted to neutralize the particular target. Medical imaging reagents are
first studied via pre-clinical animal research before engaging in human clinical studies.
The growth of the medical imaging reagents market can be attributed to the increasing
demand for diagnostic and functional imaging technologies. In addition, companies in this
industry are trying to stay abreast with technological innovations such as hybrid imaging
modalities (e.g. SPECT + MR and PET + CT), which would alternatively boost the market
growth of novel imaging reagents such as nuclear reagents and nanoparticles.
According to the Union for International Cancer Control (UICC), worldwide cancer cases
are estimated to rise by almost 75% and reach approximately 25 million over the next two
decades. Moreover, according to the American Cancer Society, it has been estimated that in
2014, approximately 1,665,540 new cases of cancer would be diagnosed and almost 585,720
deaths would occur due to cancer in the U.S. This increasing base of cancer patients would
need advanced diagnostic imaging modalities such as photoacoustic imaging and PET+MRI as
well as imaging reagents for better diagnosis, prevention and treatment of the disease,
which would consequently increase the demand for medical imaging reagents.
The medical imaging reagents market has been primarily segmented by class, by
technology and by applications. The medical imaging reagents class market further
comprises contrast reagents, optical reagents and nuclear reagents. The contrast reagents
market of the medical imaging reagents accounted for the largest market. However, among
these categories, the nuclear reagents market is expected to foresee highest growth rate
of over 14% from 2013 to 2019.
Moreover, medical imaging reagents technology segment comprises nanoparticles,
fluorescent proteins, radiopharmaceuticals, quantum dots, fluorescent dyes and probes. The
radiopharmaceuticals technology market of the medical imaging reagents accounted for the
largest market due to the increased awareness about radioisotopes and high patient
preference. Nevertheless, among these imaging reagent technologies, nanoparticles
technology is anticipated to grow at the fastest growth rate of 9.1% from 2013 to 2019.
Furthermore, medical imaging reagents application segment consists of diagnostics, drug
discovery and development as well as research and development.
Among the various application areas medical imaging reagents, drug discovery and
development is expected to witness the fastest growth during the forecast period owing to
the growing adoption rate of medical imaging reagents in the development of nuclear
medicines and medical interventions. However, diagnostics applications accounted for the
largest market in terms of revenue due to the escalating patient base of cancer and
cardiovascular diseases. It is expected that by the year 2019, the market value of imaging
reagents for diagnostic purposes shall be worth more than USD 10 billion.
Geographically North America accounted for the largest market in the year 2012 (over
40%) followed by Europe. However, Asia Pacific is estimated to demonstrate the fastest
growth rate owing to the expected rise in chronic diseases such as cancer and
cardiovascular diseases coupled with rise in disposable income and growing awareness.
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This market is highly consolidated in nature characterized by top five players
occupying approximately 80% of the overall market share. The major players of this market
include Bayer Healthcare AG, Becton Dickinson & Company, Bracco Imaging SpA, GE
Healthcare, Lantheus Medical Imaging, Inc., Mallinckrodt Pharmaceuticals and Thermo Fisher
The global medical imaging reagents market is segmented as follows:
- Medical Imaging Reagents Market, by Class - Contrast Reagents - Optical Reagents - Nuclear Reagents
- Medical Imaging Reagents Market, by Technology - Nanoparticles - Fluorescent proteins - Fluorescent dyes and probes - Radiopharmaceuticals - Quantum dots
Browse the full Medical Imaging Reagents Market Report at
- Medical Imaging Reagents Market, by Applications - Diagnostics - Drug Discovery and Development - Research and Development
- Medical Imaging Reagents Market, by Geography - North America - Europe - Asia-Pacific - Rest of the World (RoW)
Browse Pharmaceutical Market Research Reports @
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