Biologic Imaging Reagents Market : Global Forecast Over 2024
The global medical imaging reagents market is expected to witness the entry of new market players over the forthcoming years. The primary reason behind the interest of investors in the global market for medical imaging reagents is the upward graph of growth of the healthcare sector. As the healthcare industry is endorses better technologies, the demand within the global market for medical imaging reagents is expected to escalate at a swift pace. The competition within the global market is also expected to intensify owing to the strategic business hacks of the international players. These leading market players are expected to innovate their approach in terms of marketing, logistics, and manufacturing to prove their supremacy to the consumers. The small and medium-sized players have also acquired a noticeable share of the global market and are expected to challenge the strongholds of the large-scale players. Since the market for medical reimaging reagents is closely linked to the healthcare and medical industries, the government has stipulated discrete regulations with regards to manufacturing and sales. This could acts as a barrier to the entry of new and inexperienced players who do not have any proven expertise in the field. Some of the leading players in the global medical reimaging reagents market are Bracco Imaging SpA, Lantheus Medical Imaging, Inc., GE Healthcare,Siemens Healthcare, Mallinckrodt Pharmaceuticals, Bayer Healthcare AG, and Thermo Fisher Scientific, Inc.
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According to a research report published by Transparency Market Research (TMR), the global market for medical imaging reagents is expected to accumulate revenues worth US$18.5 bn by 2019-end, elevating up from a net worth of US$10.3 bn in 2012. Furthermore, the CAGR of the global market for the period between 2013 and 2019 is expected to settle at a robust figure of 8.80%.
Need for Better Diagnostics to Drive Demand
The global market for medical imaging reagents is anticipated to reap tremendous benefits from the increased focus on developing better diagnostic technologies. Functional imaging has also emerged as an important component of the healthcare industry which has furthered the growth of the global market for medical imaging reagents. The prevalence of chronic disorders such as cancers and cardiovascular diseases that involve medical imaging has also fetched positive results for the global market. Besides this, the overall development of the healthcare industry along with rising concerns for patient safety have collectively aided the growth of the global market for medical imaging reagents.
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Sluggish Growth in Developing and Underdeveloped Regions
Despite the tremendous utility served by medical imaging reagents to the healthcare industry, the demand within the global market is not proportionate to the requirements. This is because the third-world countries and some of the developing economies cannot afford to deploy medical imaging technologies across all of their healthcare units. Furthermore, the lack of awareness about medical imaging reagents has also hampered the growth of the global market. The rigid reimbursement structure for medical aid across several countries has also been a roadblock for the global market. Nevertheless, the robust healthcare infrastructure in Europe and North America is anticipated to fortify the global market for medical imaging reagents.
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The review is based on a market research report by TMR titled, “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”.
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