Development in the drug discovery is one of the major step towards healthcare but diagnosis helps in providing the specific treatment and for that discoveries are being made in continuation and the latest version of development in diagnostics field is the introduction of biological imaging reagents. Biological imaging reagents have wide variety of application and success rate in diagnosis, which in turn is expected to underpin the rise growth of biologic imaging reagents market.
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Biologic Imaging Reagents Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
In 2020, the global biologic imaging reagents market is estimated for more than US$ 18.3 Bn and expected to grow at a significant CAGR of 11.4% during the forecast period and expected to reach to the value of more than US$ XX Bn in 2025.
Global biologic imaging reagents market, By Class (Contrast Reagents, Optical Reagents, Nuclear Reagents), Modality (MRI, Ultrasound, X-ray & CT, Nuclear, Optical Imaging, Others), Application (In Vitro, In Vivo), End User (Diagnostic Laboratories, Imaging Centers, Life Sciences Companies, Research & Academic Institutes, Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
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As per the report, the field of life sciences, biotechnology, and medical and pharmaceutical industries ride on coattails of imaging reagents, as the area of diagnostics emerge as the biggest and profitable market for imaging reagent products. The constant research activities is also assisting in advancing the utility of reagents and their related technologies in order to develop new and enhanced diagnostic applications. One of the major drivers which is expected to propel the growth of the global biologic imaging reagents market is the huge demand to establish the early detection methods for serious diseases such as several cancers and Alzhemier’s disease.
Biological imaging reagents attributes to the equipment used by medical experts or research workers to operate the research based or diagnostic practices. The biological imaging reagents offer substantial service in tracking down the biological processes at a microscopic level, as it plays a vital role in the healthcare field as well as other life science industries. Owing to which, the global biologic imaging reagents market is expected to grow rapidly in the near future. Along with that, the biological imaging reagents also help the medical specialists and doctors in acquiring diagnostic data for identifying and medical care of diseases particularly in the area of oncology, cardiovascular, and neurology, thereby supporting the growth of the global biologic imaging reagents market. Likewise, the growing incidence of cardiovascular ailments among the population is also majorly contributing to the positive growth of the global biologic imaging reagents market.
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Moreover, the rise in need of diagnostic imaging devices such as X-ray and MRI devices in hospitals and clinics persuaded by the advent of portable and electronic systems is also expected to create an upsurge in the growth of the global biologic imaging reagents market during the forecast period. Additionally, the rise in demand for home healthcare markets as well as point of care diagnostics across the globe is consequently increasing the count of diagnostic procedures performed using x-ray devices, ultrasound and MRI, together with contributing to the rising awareness and popularity of these devices among the population. Attributable to which, the global biologic imaging reagents market is projected to flourish further in the forthcoming future. Furthermore, the constant research and development activities together with adequacy funding from governments across the globe is also acting as a positive push to the growth of the global biologic imaging reagents market.
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MMC study identifies some of the key participating players in the biologic imaging reagents market globally are Bayer AG, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Guerbet, Lantheus Holdings, Inc., Bracco S.p.A., GE Healthcare, Becton, Dickinson and Company (BD), Siemens Healthineers, Luminex Corporation, among others.
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