Medical Imaging Reagents Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

This report on global medical imaging reagents market studies various technologies, class and applications of medical imaging reagents in the field of healthcare. The rapid development in medical research produces a continuous stream of new knowledge about disease processes, new therapeutic targets and the complex relationship between a person’s genome and his/her related risk for disease. Medical imaging is expected to play a crucial role in the global healthcare system as it contributes to improved patient outcome and more cost-efficient healthcare in all major disease entities.


For the purpose of this study, the global medical reagents market has been segmented on the basis of class type, technology, application and geography. The medical reagents market is studied by class include contrast reagents, optical reagents, and nuclear reagents. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of revenue (USD Mn) along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year.

The global medical reagents market has been segmented on the basis of application and technology. The application segments include diagnostics, drug discovery and development and research and development. On the basis of technology, medical reagents market is segmented as nanoparticles, fluorescent proteins, fluorescent dyes and probes, radiopharmaceuticals, and quantum dots. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of revenue (USD Mn) along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year

The medical imaging reagents market has been geographically categorized into major regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, and GCC countries. Market size and forecast for these segments during 2019 to 2029 are provided in terms of revenue (USD Mn) and volume (no. of units) along with the respective CAGRs for the period 2021 to 2029 are provided in this report.

The major key players profiled in the medical imaging reagents market are on the basis of various characteristics such as business description, financial health and budget allocation, product portfolio, and news coverage. The major players profiled in this report include Bayer Healthcare AG, Becton Dickinson & Company, Bracco Imaging SpA, Cardinal Health, Inc., GE Healthcare, Lantheus Medical Imaging, Inc., Mallinckrodt Pharmaceuticals and Thermo Fisher Scientific, Inc.

Class Segmentation Analysis

In 2020, contrast reagents accounted for the highest market share in the medical imaging reagents market. Contrast reagents are widely used in x-ray attenuation, MR signal enhancing and ultrasound scattering and frequency shift.

Based on the type of class, the medical imaging reagents market is segmented into:

• Contrast Reagents
• Optical Reagents
• Nuclear Reagents

The nuclear reagents market is expected to show the highest growth among all market segments during the forecast period 2021 - 2029 due to the high adoption rate for localized tracers and nuclear medicine. Imaging reagents may be administered by mouth, enema, or injection into a vein, artery, or body cavity. The reagents are typically absorbed by the body or passed out of the body in the urine or bowel movement. Even though some reagents are referred to as a “dye”, they will not permanently discolor any part of your body. The rising prevalence of cancer is expected to boost the demand for advanced diagnostic imaging modalities such as photoacoustic imaging and PET+MRI which will ultimately assist the growth of medical imaging reagents market in the near future. Thus, overall significant growth in medical imaging reagents market is expected throughout the forecast period 2021 - 2029.

Based on the type of application the global medical imaging reagents market is segmented as follows:

• Diagnostics
• Drug Discovery and Development
• Research and Development

In base year 2020, diagnostic was observed as the major application in medical imaging reagents market followed by drug discovery and development. The key factors assisting the growth of diagnostic applications segment is increasing support of governmental and non-governmental bodies to increase public enrollment associated with early disease diagnosis, rising prevalence of lifestyle diseases due to sedentary lifestyle and increasing awareness campaigns associated with the life threatening disease diagnosis across the globe. However, drug discovery and development was observed as the fastest growing application segment due to the growing adoption rate of medical imaging reagents in the pre-clinical studies and medical interventions. According to market experts, drug discovery and development scientists utilizes a wide array of imaging technologies, including MRI, microCT, micro-PET, SPECT, X-Ray and optical (two-dimensional and fluorescence molecular tomography) to quantitatively assess test agent performance at anatomical, functional and molecular levels. In addition molecular imaging technologies can also be utilized to conduct applications research to develop and optimize the use of imaging, to further advance imaging in the field of drug discovery.

Technology Segmentation Analysis

The technology segment comprises nanoparticles, fluorescent proteins, radiopharmaceuticals, quantum dots, fluorescent dyes and probes. In base year 2020, nanoparticles technology was observed as the fastest growing segment at a CAGR of around 9% during the forecast period 2021 to 2029 due to the broad range of applications along with rising research and development initiatives being taken to develop enhanced form of medical imaging reagents.

Based on the technology used, the medical imaging reagent market is segmented into:

• Nanoparticles
• Fluorescent proteins
• Radiopharmaceuticals
• Quantum dots

The market for imaging reagents is currently led by radiopharmaceuticals for nuclear medicine imaging. The market for these reagents is expected to grow with an average annual rate of around 9% during the forecast period. According to market experts, in the near future advanced medical equipment will be minimally invasive in nature and easy to apply which might ultimately induce novel technologies and products in medical imaging reagents market. The mapping of the radiopharmaceutical distribution in vivo provides images of functional morphology of organs in a non-invasive manner and plays an important role in the diagnosis of many common diseases associated with the malfunctioning of organs in the body as well as in the detection of certain type of cancers. The widespread utilization and growing demands for these techniques are directly attributable to the development and availability of a vast range of specific radiopharmaceuticals. Thus, overall a significant growth will be observed on the medical imaging reagents market throughout the forecast period 2021 - 2029.

For the purpose of this study, the global medical imaging reagent market is categorized into:

• North America
• Europe
• Asia Pacific
• Latin America (LATAM)
• Middle East and Africa (MEA)

In base year 2020, North America was observed as the largest market for medical imaging reagents due to the rising incidences of cancer, cardiovascular and neurological diseases, and high awareness strategies applied by governmental and non-governmental bodies specifically to prefer enhanced imaging modalities and reagents. The other factors assisting the growth of medical imaging reagents are high healthcare expenditure, and high public awareness associated with lifestyle disease diagnosis for maintenance. During the forecast period 2021- 2029, Asia-Pacific is expected to experience the highest growth rate due to strong economic developments, high incidence rate of cardiovascular diseases coupled with increasing demand for non-ionizing imaging reagents. The market experts suggest that, because of the region’s population size and its rapid economic transformation, many scholars have conducted research on the Asia-Pacific region’s ongoing demographic shift and its future which suggests the diagnostic imaging market of this region will grow at significant rate.


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