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Medical imaging reagents market to become a breeding ground for investors in coming years

The global medical imaging reagents market was valued at $10,772 million in 2016, and is estimated to reach $18,587 million by 2023, registering a CAGR of 8.0% from 2017 to 2023.

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Medical imaging reagents are chemicals used in imaging and detection technologies to visualize organs or structures. These reagents enable physicians to diagnose and detect diseases, thus playing a vital role in the healthcare and medical industry.

The modern approach involves using these reagents in animal research before their reaction can be evaluated on humans. These reagents have addressed the increasing need for better therapeutics as they assist in detecting changes at the molecular level with the aid of X-ray and ultrasound.

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The global medical imaging reagents market is driven by rise in cases of chronic diseases such as cancer and cardiovascular diseases, increase in technological advancements, and high unmet medical and diagnostic imaging procedure needs. In addition, rise in geriatric population, increase in expenditure on healthcare, and growth in demand for effective procedures and safe medication are expected to fuel the market growth.

However, lack of reagent suppliers and strict government regulations restrict this growth in developing regions.

The global medical imaging reagents market is segmented based on class, technology, application, and geography. Based on class, it is divided into contrast reagents, optical reagents, and nuclear reagents.

The technology segment includes nanoparticles, fluorescent dyes & probes, radiopharmaceuticals, fluorescent proteins, and quantum dots. Based on application, the market is categorized into diagnostics, drug discovery & development, and R&D.

Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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KEY BENEFITS FOR STAKEHOLDERS

  • This report offers a detailed quantitative analysis of the current market trends of the global medical imaging reagents market from 2016 to 2023 to identify the prevailing opportunities.
  • The market estimations are based on comprehensive analysis of the key developments in the industry.
  • In-depth analysis based on geography facilitates in analyzing the regional market to assist in strategic business planning.
  • The development strategies adopted by key manufacturers are enlisted to understand the competitive market scenario.

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