The increase in the use of imaging reagents for the diagnosis and treatment of various diseases and the rise in awareness regarding the importance of early diagnosis are the major factors that will boost the Medical Imaging Reagents Market
Medical imaging reagents are chemicals that improve the image developed through imaging devices. With the use of these reagents, doctors can detect the presence of a tumor and assess if it is benign or malignant, and can trace any cancerous spot in the body. The enhancement of medical imaging reagent includes synthesizing it to target a biological process. The imaging systems are then attuned to these enhancements to counteract the particular target. These imaging reagents are first tested on animal research before using on human medical studies.
Increase in demand for functional imaging diagnostics and technologies drives the market growth. Furthermore, key players are attempting to modernize the technology, such as hybrid imaging modalities, to improve the efficiency of the imaging system, which is expected to enhance the market growth of imaging reagents. In addition, the rise in number of cancer patients requiring superior diagnostic imaging technologies fuels the market. However, the shortage of these reagents, stringent regulations, and reluctance in adopting nuclear reagents may restrain the market growth.
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The global medical imaging reagents market is segmented based on class, technology, application, and geography. Based on class, it is categorized into contrast reagents, optical reagents, and nuclear reagents. Based on technology, it is classified into nanoparticles, fluorescent dyes & probes, radiopharmaceuticals, fluorescent proteins, and quantum dots. Based on application, it is divided into diagnostics, drug discovery & development, and R&D. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Medical Imaging Reagents Market :
- Drug discovery and development segment is projected to grow at the highest rate during the analysis period.
- Contrast reagents segment was the highest revenue-generating segment, and is expected to continue its dominance in future.
- North America dominated global medical imaging reagents market, and is projected to continue its dominance in future.
- China is expected to grow at the highest CAGR in the Asia-Pacific region.
- Radiopharmaceuticals segment was the largest contributor among the technology segments.
The key companies profiled in the report include Bracco Imaging SpA, Bayer Healthcare AG, Lantheus Medical Imaging, Inc., GE Healthcare, Siemens Healthcare, Covalon Technologies Ltd., Thermo Fisher Scientific, Inc., Merck, Philips Healthcare, and Shimadzu Corporation.