Global Medical Imaging Reagents Market 2017-2021
About Medical Imaging Reagents
Medical imaging reagents are substances that are designed to enhance the imaging of specific organs, tissues, diseases, and physiological functions using medical imaging equipment to diagnose and monitor diseases. Medical imaging reagents are used in a wide range of imaging modalities such as X-ray, computed tomography (CT), ultrasound, single photon emission computed tomography (SPECT), positron emission tomography (PET), and magnetic resonance imaging (MRI). Imaging reagents have improved the quality of medical imaging examinations.
Technavio’s analysts forecast the global medical imaging reagents market to grow at a CAGR of 8.57% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global medical imaging reagents market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Medical Imaging Reagents Market 2017-2021
Technavio recognizes the following companies as the key players in the global medical imaging reagents market: Bayer, Bracco Diagnostics, GE Healthcare, Guerbet Group, and Lantheus Medical Imaging.
Other Prominent Vendors in the market are: Cardinal Health, Curium, DONGKOOK, Eli Lilly and Company, Isologic Innovative Radiopharmaceuticals, Jiangsu Hengrui Medicine, Piramal Imaging, and SHINE Medical Technologies.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing number of strategic collaborations. Strategic collaborations are becoming common in the global medical imaging reagents market. Many vendors are engaging in strategic collaborations to enhance their product development capabilities and strengthen their market position.”
According to the report, one driver in the market is rising incidence of cardiovascular disorders and cancer. The global incidence of CVDs such as angina, myocardial infarction, stroke, heart failure, venous thromboembolism, heart arrhythmia, and their associated risk factors are increasing. CVDs are estimated to cause approximately 19 million deaths across the world by 2020. In 2013, nearly 1.9 million people died due to CVD in the European Union (EU). According to the Centers for Disease Control and Prevention (CDC), in the US, approximately 610,000 people die from heart disease every year. Annually, about 735,000 people in the US have a heart attack.
Further, the report states that one challenge in the market is high cost of developing imaging reagents. The average time taken to develop diagnostic drugs is approximately 10 years. It costs $150 million. The sales of imaging agent can range between $100 million and $500 million. The time taken to develop a therapeutic drug is around 15 years. It costs between $800 million and $900 million. However, therapeutic drugs can generate sales of nearly $3.5 billion. Therefore, the return on investment from the commercialization of imaging agents is significant when compared with therapeutic drugs.
Bayer, Bracco Diagnostics, GE Healthcare, Guerbet Group, and Lantheus Medical Imaging, Cardinal Health, Curium, DONGKOOK, Eli Lilly and Company, Isologic Innovative Radiopharmaceuticals, Jiangsu Hengrui Medicine, Piramal Imaging, and SHINE Medical Technologies.
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