Biologic Imaging Reagents Market

The global biologic imaging reagents market size is estimated to register a significant CAGR during the forecast period, 2021-2028. The growth of the biologic imaging reagents market is attributed to the wide prevalence of cardiovascular disorders, malignancy, cancer, and neurological complications among the population base across the globe.

The agents and substances that are used in various imaging modalities for the superior visualization of internal organs of the body for the diagnosis of several diseases are known as biologic imaging reagents. The biological processes are detected at a molecular level using such reagents. Owing to its certain advantages, the biologic imaging reagents play a vital role in the field of science, pharmaceuticals, biotechnology, and medical industries. Moreover, it is widely used by medical practitioners & researchers for research-based or diagnosis purposes. The diagnostic information can be obtained for the detection of oncology, cardiovascular, and neurology disorders, which can render further help for the treatment of these diseases.

As per the fact sheet by Globocan 2020, approximately 19,292,789 new cancer cases were diagnosed along with 9,958,133 deaths caused by cancer worldwide. Another report by the International Agency for Research on Cancer (IARC) states that globally the total sum of cancer cases is expected to reach 27.5 million along with 16.3 million deaths caused due to cancer. According to the reports by the World Health Organization (WHO), cancer is the second leading cause of death among people next to cardiovascular diseases. Hence, the aforementioned factors are helping the market growth.

Market Trends, Drivers, Restraints, and Opportunities

• Growing level of awareness among the patients and increasing number of diagnostic procedures are anticipated to boost the market growth in the coming years.
• Due to the introduction of digital systems, the demand for diagnostic imaging systems including X-ray and MRI devices has increased rapidly. This is expected to drive the market expansion during the forecast period.
• Technological advancements made in the field of nuclear imaging for diagnosis purpose is anticipated to drive the market expansion in the coming years.
• Biologic imaging reagents have a smaller shelf-life, high cost, and need massive funding. These factors are key challenges that can restrain the market expansion.
• Increasing research & development initiatives in order to enhance the imaging techniques is projected to create lucrative opportunities for the market during the forecast period.

Scope of the Report

The report on the global biologic imaging reagents market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Market Segment Insights

Contrast reagents segment is anticipated to account for a major market share

On the basis of classes, the global biologic imaging reagents market is divided into nuclear reagents, optical reagents, and contrast reagents. The contrast reagents segment is further divided into X-ray, MRI reagents, CT reagents, and ultrasound reagents. The contrast reagents segment is anticipated to account for a major market share during the forecast period owing to the increasing popularity of these devices and their rising usage along with the increasing demand for home healthcare and point of care diagnostics (POCs).

Asia Pacific market is expected to expand at a high rate

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the projected period attribute to awareness among patient, high per capita healthcare expenditure, and the availability of sophisticated healthcare infrastructure in the region. On the other hand, the Asia Pacific market is expected to expand at a high growth rate in the coming years owing to the presence of medical needs that are highly unmet and growing improvement in the healthcare infrastructure.

Segments

The global biologic imaging reagents market has been segmented on the basis of

Classes

• Nuclear Reagents
• Optical Reagents
• Contrast Reagents
  • X-ray
  • MRI Reagents
  • CT Reagents
  • Ultrasound Reagents

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Siemens Healthcare
• Bayer Healthcare AG
• Beckman Coulter Inc.
• Cardinal Health
• Philips Healthcare
• Johnson and Johnson
• Bracco Imaging

Competitive Landscape

Key players competing in the global biologic imaging reagents market are Siemens Healthcare; Bayer Healthcare AG; Beckman Coulter Inc.; Cardinal Health; Philips Healthcare; Johnson and Johnson; and Bracco Imaging. Many of these players have adopted business strategies such as the launch of new products, the advancement of technologies, partnerships, mergers, and production capacity expansion in order to increase their consumer base and expand their market position globally.