Global Medical Imaging Reagents Market Segment upto 2019: Transparency Market Research
Albany, New York (PRWEB) September 30, 2014
A market research report published by Transparency Market Research, a U.S.-based market intelligence agency states that the global medical imaging reagents market is projected to reach a value of USD 18.5 billion by the end of 2019. The worldwide medical imaging reagents market that was valued at USD 10.3 billion in 2012, will report a compounded annual growth rate of 8.8% to develop into a USD 18.5 billion worth market by 2019.
Browse the full Medical Imaging Reagents Market report at http://www.transparencymarketresearch.com/biologic-imaging-reagents-market.html
Market determinants such as drivers, inhibitors, and opportunities influence the dynamics of the global medical imaging reagents industry. Growing geriatric population, increasing prevalence of cancer, cardiovascular, and neurological medical conditions, and escalating demand for diagnostic imaging procedures act as catalysts for the market growth. The report also indicates that technological development will likely fuel the growth of the imaging reagents market.
Reluctance in adopting nuclear products, shortage of supplies of imaging reagents, and stringent regulatory policies suppress the development of the market. Two key opportunities for the worldwide medical imaging reagents market are increasing organized distribution of network in emerging economies and development of nuclear products based on personalized therapy. Medical imaging reagents, chemical compounds allow healthcare providers and clinicians to diagnose if a tumor is benign or malignant. They also aid to locate metastatic cancerous sites present in the body. The market comprises of optical reagents, contrast reagents, and nuclear reagents.
The contrast reagents sector in the market represents the largest share in the global medical imaging reagents market. Nuclear reagents market sector is anticipated by the report to witness the highest growth of over 14% CAGR from 2013 to 2019. According to technology, the research report segments the medical imaging reagents market into fluorescent proteins, nanoparticles, radiopharmaceuticals, fluorescent dyes, quantum dots, and probes. The segment, radiopharmaceuticals technology market generates the largest market share which is attributed to the increased awareness about radioisotopes and increasing patient preference.
The nanoparticles technology segment is estimated by the report to grow at the fastest rate of 9.1% CAGR from 2013 till 2019. Medical imaging reagents find their applications in several areas such as drug discovery, diagnostics, and research and development. The report has forecasted that by the end of 2019, the market value of medical imaging reagents in the sector diagnostic purposes will account for over USD 10 billion.
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According to geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America generated the largest market revenue in 2012 (over 40%), followed by Europe. Asia Pacific, on the other hand is expected to demonstrate the fastest growth rate attributed to factors such as increasing prevalence of chronic diseases and disposable income.
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