Medical Imaging Reagents Market To See Significant Growth

Author : Acumen Research and Consulting

Medical Imaging reagents are chemicals that are used in imaging devices that aid in improvising images. These reagents help in detecting tumors and even tracing cancerous spots in a body. A biological process synthesizes targeted areas with the growing innovations and revolutions in medical imaging reagents.

Developing nations such as India, Brazil and China have undergone some drastic improvements and advancements in their healthcare systems and infrastructure. Secondly, they also have pressures from their rising population and aging population and the ever growing chronic diseases all of which have driven the need for adequate healthcare facilities in these regions. Owing to such circumstances, the demand for diagnostic equipment in the coming years is expected to keep rising. Additionally, cost- effectiveness and scalability are extremely vital given the rising pool of patients.

Keeping all the factors in mind, the CAGR is expected to grow around 8% from 2017 to 2023 for the medical imaging reagents market; reaching a market value of around $18.5 billion by 2023.

Here are some more points that explain about the global medical imaging reagent market:

  • In a project paper by World Economic Forum in January 2014, “Health Systems Leapfrogging in Emerging Economics’ informed that one- third of the global healthcare expenditure would be targeting achieving healthcare services provision in emerging markets by the year 2023.
  • The highest share of the market was accounted by Radiopharmaceuticals which include radioactive drugs that elicit no physiological response from the patient and they can also be used for the purpose of diagnosis.
  • As a multi- modal imaging agent for position emission tomography (PET) and magnetic resonance imaging (MRI); nanoparticles are gaining a lot of popularity. In order to synthesize such particles and modify them for the purpose of radionuclide imaging, many new techniques are constantly being developed. The size of the nanomaterials decides their applications. Currently the demand of such products has pushed Research and Development activities for advancement of these particles.
  • It has been observed that the global medical imaging reagents market is consolidated to a high degree pertaining to a selected few international and regional players. Some of these players include Shimadzu Corporation, GE Healthcare, Thermo Fisher scientific Inc., Philips Healthcare, Bayer Healthcare AG, Lantheus Medical Imaging, Siemens Healthcare and others.

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