According to the latest report from Reports and Data, the global Medical Imaging Reagent Market in 2022 amounted to USD 252.48 Billion. It is anticipated that there will be a 7% compound annual growth rate (CAGR) in revenue for this market during the forecast period.
Medical imaging reagents are substances utilized in imaging procedures to improve the visibility of internal bodily structures. Examples of these reagents include contrast agents, radiopharmaceuticals, and optical imaging agents. With the rising prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological conditions, there is an increasing demand for medical imaging reagents. These ailments are frequently diagnosed and monitored through medical imaging techniques like computed tomography (CT), Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), and single-photon emission computed tomography (SPECT).
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The market for medical imaging reagents is experiencing substantial growth due to the preference for non-invasive diagnostic methods. Non-invasive approaches are favored because they offer greater comfort and lower risks compared to invasive procedures. By utilizing medical imaging tools, comprehensive information about internal bodily components can be acquired without the necessity of surgical or other invasive interventions. This has led to a surge in the utilization of medical imaging procedures, thereby driving up the demand for the reagents used in these processes.
Key players in the Medical Imaging Reagent Market:
- Bracco Imaging S.p.A.
- GE Healthcare
- Bayer Healthcare LLC
- Mallinckrodt Pharmaceuticals
- Lantheus Medical Imaging, Inc.
- Guerbet SA
- Fujifilm Holdings Corporation
- Siemens Healthineers
- Koninklijke Philips N.V.
- PerkinElmer, Inc.
- Thermo Fisher Scientific, Inc.
Some Key Highlights in the Report:
- In 2021, the segment of contrast agents commanded the largest market share in terms of sales. This was primarily driven by the rising prevalence of chronic diseases like cancer, cardiovascular ailments, and neurological disorders, necessitating accurate diagnostic imaging for effective diagnosis and treatment planning. Contrast agents are routinely employed in diagnostic imaging modalities such as computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound to enhance the visibility of internal bodily structures and detect abnormalities. Furthermore, the growing utilization of advanced imaging techniques and the demand for minimally invasive procedures have contributed to the growth of the contrast agent market.
- The oncology segment is projected to dominate the global medical imaging reagents market. The increasing incidence of cancer and the need for early and precise diagnosis are key drivers for this sector. Medical imaging techniques are frequently employed in oncology for the detection and monitoring of malignancies. For instance, positron emission tomography (PET) and computed tomography (CT) are commonly used in oncology to identify tumors and metastases. The introduction of innovative imaging modalities such as magnetic resonance imaging (MRI) and ultrasound is also expected to fuel market expansion throughout the forecast period.
- The rise in chronic diseases and advancements in imaging technologies are likely to propel the global market for medical imaging reagents in the foreseeable future. In 2021, North America accounted for the largest share of the market revenue, attributed to its well-established healthcare infrastructure, widespread adoption of cutting-edge imaging technologies, and favorable reimbursement policies. The region is also experiencing an increase in its elderly population, driving the demand for diagnostic treatments and imaging tests.
- In the same year, GE Healthcare collaborated with Osprey Medical, a company specializing in imaging technology, to promote Osprey’s DyeVert contrast minimization device. This device reduces the amount of contrast used during imaging procedures, thereby enhancing patient safety.
- Furthermore, Bracco Imaging S.p.A. acquired Blue Earth Diagnostics, a company specializing in molecular imaging agents for cancer diagnostics, for a sum of $450 million. This acquisition aims to expand Bracco’s product portfolio in the field of cancer diagnostics.
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For the purpose of this report, Reports and Data has segmented the global medical imaging reagent market on the basis of Product Type Outlook, Application Outlook, End-User Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Contrast Reagents
- X-ray Contrast Reagents
- MRI Contrast Reagents
- CT Contrast Reagents
- Ultrasound Contrast Reagents
- Optical Reagents
- Nuclear Reagents
Application Outlook (Revenue, USD Billion; 2022 – 2032)
End-User Outlook (Revenue, USD Billion; 2022 – 2032)
- Diagnostic Imaging Centers
- Research Institutes
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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