Portland, OR, Nov. 10, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global medical imaging reagents industry generated $11.69 billion in 2019, and is expected to generate $17.32 billion by 2027, growing at a CAGR of 5.0% from 2019 to 2027. The report provides a detailed analysis of changing market dynamics, top investment pockets, major winning strategies, key segments, and competitive scenarios.
Increase in prevalence of chronic diseases, rise in awareness for early disease diagnosis, and growing demand for diagnostic imaging procedures proliferate the growth of the global medical imaging reagents market. Conversely, lack of access from underdeveloped countries and scarcity of imaging reagents impede the market growth. Nevertheless, surge in expenditure on healthcare and demand for effective procedures & safe medication create a number of opportunities for the market players.
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Covid-19 Scenario
- The outbreak of the Covid-19 pandemic has immensely impacted the market, as the majority of medical imaging procedures have been declined.
- The demand for medical imaging reagents has dropped. Also, the diagnosis and treatment were directed for extreme cases.
- Nevertheless, in many countries the government bodies have eased off the restrictions, thereby permitting the services to reprocess.
The global medical imaging reagents market is classified on the basis of class, technology, application, and region. Based on class, the contrast reagents segment held the largest market share in 2019, contributing to more than half of the global market. The segment is expected to maintain its dominance throughout the forecast period. On the other hand, the nuclear reagents segment is projected to manifest the fastest CAGR of 6.4% from 2019 to 2027. The report also includes optical reagents segment.
Based on technology, the nanoparticles segment dominated the market with more than one-fourth of the market in 2019, and is expected to lead the trail throughout the forecast period. In addition, this segment is also estimated to showcase the highest CAGR of 6.8% during the forecast period. Other segments in the report includes fluorescent dyes & probes, radiopharmaceuticals, fluorescent proteins, and quantum dots.
Based on region, the market across North America held the lion’s share in 2019, accounting for nearly two-fifths of the global market. The region is projected to dominate throughout 2027. At the same time, Asia-Pacific is anticipated to register the highest CAGR of 7.3% during the forecast period.
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Leading market players in the global medical imaging reagents market include Bayer AG, Bracco SpA, Cardinal Health, Eli Lilly and Company, General Electric Company (GE Healthcare), Lantheus Holdings, Inc., LI-COR Biosciences Inc., Merck KGaA (Sigma-Aldrich), PerkinElmer, Inc., and Thermo Fisher Scientific Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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