In a recent published report, Kenneth Research has updated the Market report for Biological and Medical Imaging Reagent Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Biological and Medical Imaging Reagent Market Products.
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Biological and medical imaging reagents are chemical compounds that are used in association with imaging technology in order to enhance the visualization of structures or organs within the human body and thus assist the physicians to detect any disease at an early stage or to better diagnose any disease. Consequently, these compounds are anticipated to witness a rapid adoption rate across various imaging technology used in medical industry, healthcare and life science related industries including pharmaceutical research, biotechnology and drug discovery. This in turn, is anticipated to drive the Biological and Medical Imaging Reagent Market at an exponential rate in the coming eight years. The Global Biological and Medical Imaging Reagent market is expected to grow at a CAGR of 8.0% (2017-2022) to reach a global revenue of USD 11.22 billion by 2022.
For the purpose of providing an exhaustive analysis of the Global Biological and Medical Imaging Reagent market across different regions including North America, Asia Pacific, Europe, Latin America and Middle East and Africa, the market has been classified on the basis of imaging reagent class, application, administration and end use.
Depending on the various class of biological and medical imaging reagents available in the market, the market has been classified into contrast reagents, radiopharmeceuticals and optical reagents. Though the contrast reagent segment held the largest market share in 2016, the optical reagent segment is expected to experience the most promising demand in the coming years. Extensive utilization of optical imaging reagents by various drug developer and life science researchers to detect and visualize various biological processes at the molecular level in order to perform proteomics, key genomics and cellular analysis assays for developing advanced categories of patient centric targeted drug is the most important factors behind this segment’s rapid growth rate.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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In addition, demand for biological and medical imaging reagents across various application segments including X-Ray, MRI (magnetic resonance imaging), PET/CT (positron emission tomography/computed tomography) and ultrasonography is also provided in this report. Among the different application segments, demand for biological and medical imaging reagents from the X-Ray segment held the largest market share in 2016 owing to its increasing application across various medical treatments such as orthopedic damage, cardiovascular diseases (CVD), pneumonia, cancers / tumors and dental among others.
Moreover, based on the route of administration the global biological and medical imaging reagents has been categorized into intravascular through injection, oral and enema through rectal. Among the different route of administration, the imaging reagents administered through injection held the largest market share in 2016 and is also expected to witness the fastest growth during the forecast period. Exponential growth in this segment is primarily attributed to the rapid advancements in PET, CT and MRI imaging technologies that majorly rely on the use of intravascular route to inject imaging reagents.
Furthermore, by end use, the market has been bifurcated into utilization of imaging reagents in diagnostic, drug discover and research and development sectors. Being an integral part of various diagnostic application, the diagnosis sector generated the highest revenue in 2016 across various end use sectors and is expected to maintain its revenue generation trend in the coming years.
Geographically, North America dominated the overall biological and medical imaging reagent market in 2016. However, large consumer base of imaging reagents on account of rising incident of chronic diseases coupled with increasing number of geriatric population is anticipated to turn Asia Pacific region into the most promising market for biological and medical imaging reagents.
Key growth factors
Surge in demand for various image guided medical treatment procedure for minimum invasive surgeries is one of the most important factor anticipated to trigger the demand for various biological and medical imaging reagents during the forecast period from 2017–2022. In addition, rapid research and development activities taking place in the field of drug discovery in order to manufacture advanced patient centric drug is also predicted to create a better opportunity for various biological and medical imaging reagent manufacturers in the coming years.
Threats and key players
In-spite of so many factors that are anticipated to impact a positive growth on the global biological and medical imaging reagent market, healthcare reforms adopted by some of the major economies that resulted in declining reimbursement on various medical imaging examination is one of the most important factor that is expected to limit the demand of imaging technologies in the coming years, which in turn is anticipated to deter the growth rate of biological and medical imaging reagents during the forecast period.
In terms of competitive landscape, the Global Biological and Medical Imaging Reagent market is consolidated in nature with the existence of few vendors. Some of the major players operating the Global Biological and Medical imaging Reagent market includes GE Healthcare (The U.K), Bayer AG (Germany), Guerbet (France) and Bracco S.p.A (Italy) among others.
What’s covered in the report?
1. Overview of the Biological and Medical Imaging Reagent market.
2. Current market demand along with future expected demand trend of biological and medical imaging reagent from various end use sectors including diagnostic, drug discover and research and development sectors.
3. Current and forecasted regional (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) market size data for Biological and Medical Imaging Reagent market.
4. Current and forecasted market size data for different class of biological and medical imaging reagents such as contrast reagents, radiopharmeceuticals and optical reagents. Contrast reagents includes MRI, ultrasound and CT/X-ray reagents. Whereas, radiopharmaceuticals includes nuclear reagents. On the other hand, fluorescent dyes and probes, quantum dots (QDs), gold nanoparticles and fluorescent proteins are included with the optical reagents segment.
5. In addition, demand for various biological and medical imaging reagent based on its route of administration is also included within our scope of research.
5. Profiling of the major players operating in the biological and medical imaging reagents is also provided in this report.
7. Key Opportunity for Global and Biological Imaging Reagent market.
8. Market Trends in Global and Biological Imaging Reagent market.
9. Value chain analysis in order to emphasize on preventing waste, optimizing the available resources, and contributing towards sustainability.
10. Market attractiveness analysis in terms of region in order to furnish the competitive advantage of one region over the other.
11. Market positioning of the key players across different regions in 2016.
1. Understand the demand of biological and medical imaging reagent product portfolio to determine the viability of the business.
2. Determine the developed and new application segments where biological and medical imaging reagents are utilized.
3. Formulate a product marketing strategy – based on the position in the value chain that determines the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products compared with the key players in the market.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Biological and Medical Imaging Reagent Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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