Biological and medical imaging reagents are chemical compounds that are used in association with imaging technology in order to enhance the visualization of structures or organs within the human body and thus assist the physicians to detect any disease at an early stage or to better diagnose any disease. Consequently, these compounds are anticipated to witness a rapid adoption rate across various imaging technology used in medical industry, healthcare and life science related industries including pharmaceutical research, biotechnology and drug discovery. This in turn, is anticipated to drive the Biological and Medical Imaging Reagent Market at an exponential rate in the coming eight years. The Global Biological and Medical Imaging Reagent market is expected to grow at a CAGR of 8.0% (2017-2022) to reach a global revenue of USD 11.22 billion by 2022.
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For the purpose of providing an exhaustive analysis of the Global Biological and Medical Imaging Reagent market across different regions including North America, Asia Pacific, Europe, Latin America and Middle East and Africa, the market has been classified on the basis of imaging reagent class, application, administration and end use.
Depending on the various class of biological and medical imaging reagents available in the market, the market has been classified into contrast reagents, radiopharmeceuticals and optical reagents. Though the contrast reagent segment held the largest market share in 2016, the optical reagent segment is expected to experience the most promising demand in the coming years. Extensive utilization of optical imaging reagents by various drug developer and life science researchers to detect and visualize various biological processes at the molecular level in order to perform proteomics, key genomics and cellular analysis assays for developing advanced categories of patient centric targeted drug is the most important factors behind this segment’s rapid growth rate.
In addition, demand for biological and medical imaging reagents across various application segments including X-Ray, MRI (magnetic resonance imaging), PET/CT (positron emission tomography/computed tomography) and ultrasonography is also provided in this report. Among the different application segments, demand for biological and medical imaging reagents from the X-Ray segment held the largest market share in 2016 owing to its increasing application across various medical treatments such as orthopedic damage, cardiovascular diseases (CVD), pneumonia, cancers / tumors and dental among others.
Moreover, based on the route of administration the global biological and medical imaging reagents has been categorized into intravascular through injection, oral and enema through rectal. Among the different route of administration, the imaging reagents administered through injection held the largest market share in 2016 and is also expected to witness the fastest growth during the forecast period. Exponential growth in this segment is primarily attributed to the rapid advancements in PET, CT and MRI imaging technologies that majorly rely on the use of intravascular route to inject imaging reagents.
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Furthermore, by end use, the market has been bifurcated into utilization of imaging reagents in diagnostic, drug discover and research and development sectors. Being an integral part of various diagnostic application, the diagnosis sector generated the highest revenue in 2016 across various end use sectors and is expected to maintain its revenue generation trend in the coming years.
Geographically, North America dominated the overall biological and medical imaging reagent market in 2016. However, large consumer base of imaging reagents on account of rising incident of chronic diseases coupled with increasing number of geriatric population is anticipated to turn Asia Pacific region into the most promising market for biological and medical imaging reagents.
Key growth factors
Surge in demand for various image guided medical treatment procedure for minimum invasive surgeries is one of the most important factor anticipated to trigger the demand for various biological and medical imaging reagents during the forecast period from 2017–2022. In addition, rapid research and development activities taking place in the field of drug discovery in order to manufacture advanced patient centric drug is also predicted to create a better opportunity for various biological and medical imaging reagent manufacturers in the coming years.
Threats and key players
In-spite of so many factors that are anticipated to impact a positive growth on the global biological and medical imaging reagent market, healthcare reforms adopted by some of the major economies that resulted in declining reimbursement on various medical imaging examination is one of the most important factor that is expected to limit the demand of imaging technologies in the coming years, which in turn is anticipated to deter the growth rate of biological and medical imaging reagents during the forecast period.
In terms of competitive landscape, the Global Biological and Medical Imaging Reagent market is consolidated in nature with the existence of few vendors. Some of the major players operating the Global Biological and Medical imaging Reagent market includes GE Healthcare (The U.K), Bayer AG (Germany), Guerbet (France) and Bracco S.p.A (Italy) among others.
What’s covered in the report?
- Overview of the Biological and Medical Imaging Reagent market.
2. Current market demand along with future expected demand trend of biological and medical imaging reagent from various end use sectors including diagnostic, drug discover and research and development sectors.
3. Current and forecasted regional (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) market size data for Biological and Medical Imaging Reagent market.
4. Current and forecasted market size data for different class of biological and medical imaging reagents such as contrast reagents, radiopharmeceuticals and optical reagents. Contrast reagents includes MRI, ultrasound and CT/X-ray reagents. Whereas, radiopharmaceuticals includes nuclear reagents. On the other hand, fluorescent dyes and probes, quantum dots (QDs), gold nanoparticles and fluorescent proteins are included with the optical reagents segment.
5. In addition, demand for various biological and medical imaging reagent based on its route of administration is also included within our scope of research.
5. Profiling of the major players operating in the biological and medical imaging reagents is also provided in this report.
7. Key Opportunity for Global and Biological Imaging Reagent market.
8. Market Trends in Global and Biological Imaging Reagent market.
9. Value chain analysis in order to emphasize on preventing waste, optimizing the available resources, and contributing towards sustainability.
10. Market attractiveness analysis in terms of region in order to furnish the competitive advantage of one region over the other.
11. Market positioning of the key players across different regions in 2016.
- Understand the demand of biological and medical imaging reagent product portfolio to determine the viability of the business.
2. Determine the developed and new application segments where biological and medical imaging reagents are utilized.
3. Formulate a product marketing strategy – based on the position in the value chain that determines the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products compared with the key players in the market.
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