The global biological imaging reagents market size surpassed at US$ 13.8 Bn in 2019 and is projected to reach US$ 28.3 billion by 2027 with a registered CAGR of 8.4% from 2020 to 2027.
The global biological imaging reagents market is set to grow at a robust pace during the forecast period, due to the high prevalence of chronic illnesses, globally, and the consequent rise in diagnostic procedures for their detection.
Regional markets in APAC and LATAM in the global biological imaging reagents landscape are expected to grow the fastest during the forecast period. These regions offer lucrative prospects for manufacturers to make inroads to strengthen their regional and local presence.
With technology moving at such a rapid pace, and the demand for better and more precise images taking precedence, the future is set to be rewarding for manufacturers of biological imaging reagents, looking to leverage technological advances into imaging solutions and their manufacturing process.
Overview
- Biological imaging reagents are substances used in research and diagnosis purposes in imaging modalities, to enhance THE visualization of internal organs and in vivo live cell imaging.
- These reagents are used in different imaging modalities such as X-ray, MRI, and ultrasound for THE diagnosis of different diseases, as well as in drug discovery.
- Growth of the global biological imaging reagents market can be attributed to the rise in the demand for diagnostic imaging procedures across the globe.
- Asia Pacific is a highly lucrative market for biological imaging reagents, due to the improving healthcare infrastructure and increase in the geriatric population.
- North America dominated the global biological imaging reagents market in 2019, and the trend is projected to continue during the forecast period, due to the higher prevalence of diseases and high number of imaging procedures.
High Prevalence and Increase in Incidence Rate of Chronic Diseases to Drive Market
- The prevalence of chronic diseases has increased in the past few years across the globe. These diseases include cardiovascular diseases, cancer, diabetes, and neurological disorders.
- These diseases need diagnostic imaging tests. Life science reagents such as biological imaging reagents are an integral part of a large number of diagnostic imaging tests. Hence, the high prevalence of these chronic diseases and increasing research activities to discover treatments for these diseases are propelling the global biological imaging reagents market. According to WHO, cardiovascular diseases account for around 17.9 million deaths globally every year, which constitutes an estimated 31% of all deaths.
- Rise in the number of diagnostic imaging procedures and increase in research activities for new drug development are the other factors driving the global market.
- Moreover, the launch of new imaging reagents and approval of products for specific indications in the past few years contributed to the growth of the global biological imaging reagents market.
Nuclear Reagents to be Lucrative Option
- Based on class, the global biological imaging reagents market has been classified into contrast reagents, optical reagents, and nuclear reagents.
- The optical reagents segment dominated the global biological imaging reagents market in 2019. However, the contrast reagents segment is anticipated to dominate the global market from 2020 to 2027.
- Nuclear reagents are expected to be a highly lucrative segment during the forecast period, owing to the better visualization effects of imaging achieved by these reagents and rise in the demand for radiopharmaceutical agents in imaging modalities
Optical Imaging Dominated Global Market
- In terms of modality, the global biological imaging reagents market has been categorized into MRI, ultrasound, X-ray & CT, nuclear, optical imaging, and others. The nuclear segment has been bifurcated into PET and SPECT.
- The optical imaging segment dominated the global biological imaging reagents market in 2020, owing to advanced technologies in optical imaging and large number of research activities on this method.
In-vivo to be Promising Application
- Based on application, the global biological imaging reagents market has been bifurcated into in vitro and in vivo.
- The in vitro segment has been classified into proteomics, genomics, and cell biology.
- In vivo is likely to be a highly promising segment in the next few years, owing to an increase in vivo research activities by CROs for drug discovery, and growth of the biopharmaceutical industry.
Life Science Companies to be Lucrative End Users
- In terms of end user, the global biological imaging reagents market has been divided into diagnostic laboratories, imaging centers, life sciences companies, academic & research institutes, and others.
- Life science companies are projected to be a highly lucrative segment during the forecast period. The segment is anticipated to expand at a high CAGR from 2020 to 2027.
- Increase in the research on new drugs & molecules and large number of collaborations between pharmaceutical companies and CROs are the major factors fueling the growth of the life science companies segment.
North America a Prominent Market
- In terms of region, the global biological imaging reagents market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe dominated the global biological imaging reagents market in 2019.
- North America accounted for a major share of the global biological imaging reagents market in 2019. Higher number of imaging tests performed and rise in the prevalence of different diseases are factors accelerating the growth of the market in the region.
- Asia Pacific is likely to be a lucrative market for biological imaging reagents during the forecast period. The market in the region is projected to expand at a high CAGR from 2020 to 2027, due to increase in the geriatric population, rise in the patient pool affected by different diseases, and surge in investments by major players in different activities such as research.
Competitive Landscape
- Bayer AG, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., and Guerbet are the leading players in the global biological imaging reagents market.
- The global biological imaging reagents market is fragmented in terms of number of players. Key players in the global market include Bayer AG, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Guerbet, Lantheus Holdings, Inc., Bracco S.p.A., GE Healthcare, Becton, Dickinson and Company, Siemens Healthineers, and Luminex Corporation.
- New product approvals for specific indications, widespread distribution channels, and higher R&D investments are some of the key strategies adopted by major players operating in this market.
Market Segmentation
By Class
-
- Contrast Reagents
- Optical Reagents
- Nuclear Reagents
By Modality
-
- MRI
- Ultrasound
- X-ray & CT
- Nuclear
- PET
- SPECT
- Optical Imaging
- Others
By Application
-
- In Vitro
- Proteomics
- Genomics
- Cell Biology
- In Vivo
By End User
-
- Diagnostic Laboratories
- Imaging Centers
- Life Science Companies
- Academic & Research Institutes
- Others
By Region
-
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Scope of the Report
The report on the global biological imaging reagents market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market for the forecast period of 2020 to 2027. The report provides the overall market revenue of the global biological imaging reagents market for the period of 2017 to 2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global biological imaging reagents market for the forecast period.
The report has been prepared after extensive primary and secondary research. Primary research involved bulk of the research efforts, wherein, analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global biological imaging reagents market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of the top-down and bottom-up approaches to study various phenomena in the global biological imaging reagents market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global biological imaging reagents market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global biological imaging reagents market.
The report delves into the competitive landscape of the global biological imaging reagents market. Key players operating in the global biological imaging reagents market have been identified, and each one of these has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global biological imaging reagents market that have been profiled in this report.
Key Questions Answered in the Biological Imaging Reagents Market Report
- What is the sales/revenue expected to be generated by each class and modality segment of the biological imaging reagents market across all regions during the forecast period?
- What are the opportunities in the global biological imaging reagents market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which region is likely to expand at the fastest CAGR during the forecast period?
- Which biological imaging reagent class and modality segment are expected to generate the highest revenue, globally, in 2027? Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market share or position of different companies operating in the global market in 2018?
Research Objectives and Research Approach
The comprehensive report on the global biological imaging reagents market begins with an overview of the market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study, regulatory scenario, technological advancements, and disease prevalence rate of different diseases and conditions.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The entire report comprises an exhaustive collection of graphs and tables appropriately interspersed in the entire compilation. Pictorial representation of the actual and projected values of key segments is visually appealing to readers. This also allows the comparison of the market shares of key segments in the past and at the end of the forecast period.
Cross-segment Market Size and Analysis for
Mentioned Segments
