Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Medical imaging techniques plays crucial role in healthcare system to detect improper functioning of the body parts. This technique provide wide application in science related fields such as biotechnology, medicine, and pharmaceutical research. Medical imaging reagents can be described as chemicals or substances which are used to visualize structures or organs in the body, to better analyze and detect disorders. The various imaging technologies such as computed tomography (CT scan), magnetic resonance imaging (MRI), X-ray and others which uses imaging reagents depending on the technique.
As the prevalence of chronic diseases is increased which requires imaging techniques such as CT scan, MRI and X- rays. Moreover, growth in technological advancements, development in medical imaging reagents are the primary factors for the market growth. The medical imaging technique is used in biotechnology, medicine, and pharmaceutical research. Hence the medical imaging reagents market has been seeing tremendous growth from the past few decades. As the geriatric patient are more prone to chronic diseases demand for imaging technologies is increases. Nevertheless, shortage of suppliers of imaging reagents and fear regarding scanning techniques in community are the major restraining factor that could hamper the growth of the market.
The COVID 19 outbreak had significant impact on the medical imaging reagents market. COVID 19 is the severe acute respiratory syndrome that causes infection in lungs which require CT scan and various imaging technique. Due to rise in scanning market shows incredible growth in medical imaging reagents. This report also studies the impact of pandemic on regional economies, regional trade, business investments, and marketing strategies of key players present in the market. So due to this scenario there is rise in supply and production of various imaging reagent which will boost the market growth.
The study analyses Asia Pacific Medical Imaging Reagents Market based on class, technology, application, and country.
The medical imaging reagents market by class is categorized into contrast reagents, optical reagents and nuclear reagents. The contrast reagents segment is projected to witness rapid growth during the forecast period 2021-2027, owing to the increasing prevalence of chronic diseases, development of same imaging reagents and growing public and private diagnosis centers. The contrast reagents are used to improve pictures of the internal parts of the body produced by radiowaves. Hence development of new advanced contrast reagents will boost the market growth.
The technologies which are involved in medical imaging reagents market are segmented into nanoparticles, fluorescent dyes & probes, radiopharmaceuticals, fluorescent proteins, and quantum dots. The nanoparticles segment accounted for largest share in 2020 and is witnessing fastest growth in upcoming years. Nanotechnology involve nanoparticles to detect functioning of body organs. The nanotechnology is fastest growing field in oncology because it uses nanoparticles in targeted cancer imaging technique. Development of new advanced technologies will drive the market demand.
The medical imaging reagent market has wide application in the diagnostics, drug discovery and development and educational research. The drug discovery and development held the largest share in the medical imaging reagents market and is expected to maintain its dominance during the forecast period 2021-2027. The factors that boost the market growth are rise in incidence of chronic disorders and development of advanced techniques in medical imaging market. Due to rise in demand for scanning and diagnosis development of new techniques is primary requisite. Moreover, growing funds for drug discovery and development is the driving factor for market growth.
The countries covered in the Asia-Pacific medical imaging reagents market report are China, Japan, India and rest of APAC. The China held the largest market share of Asia Pacific medical imaging reagents market and is likely to dominate the market over the estimated time frame. China is one of the major contributing country in medical field and also it is well developed country. The advancement in the scanning and detecting techniques is major factor for the market growth in the region.
The major key players of market includes Bayer AG, Bracco SpA, Cardinal Health, Eli Lilly and Company, General Electric Company (GE Healthcare), Lantheus Holdings, LI-COR Biosciences Inc., Merck KGaA (Sigma-Aldrich), PerkinElmer, Inc., and Thermo Fisher Scientific Inc.
July 2018: The second phase 3 clinical trial of FLURPIRIDAZ 18F has initiated by GE Healthcare and Lantheus Holdings, Inc. which was known as AURORA study. This is used to detect coronary artery disease.
June 2021: The New Industry Dynamics of Medical Imaging Reagents Market 2021 was developed by Bracco SpA through Swot Analysis.
June 2021: The new clinical data from Verzenio and Oral SERD programs at the American Society of Clinical Oncology annual meeting was announced by Eli Lilly and Company.
May 2021: Lantheus Holdings received U.S.FDA approval of Piflufolastat F 18 injection. It is the first and only commercially available PSMA PET imaging agent for prostate cancer.
The study analyses Asia Pacific medical imaging reagents market based on class, technology, application, and geography. Various technologies such as nanoparticles, fluorescent dyes & probes, radiopharmaceuticals, fluorescent proteins, and quantum dots are covered in the Asia Pacific medical imaging reagents market report. The contrast reagent segment is attributed to the largest share in the market over the forecast period. Due to the increasing demand for medical imaging reagents and rising chronic diseases related to heart, kidney and brain market shows drastic growth. Moreover, rising geriatric population will lead to increase in demand for scanning and diagnosis of chronic disorders as well as growing private and government diagnosis centers will boost the market growth in upcoming years. This reagents are used in fields such as biotechnology, medicine, research and development. Country wise study comprises countries like China, India, Japan and rest of Asia Pacific. The China held the largest market share of Asia Pacific medical imaging reagents market and is likely to dominate the market over the estimated time frame.
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