Imaging Chemicals Market - Rising Demand from Medical Sector to Promote Growth | Technavio

Technavio has published a new market research report on the global imaging chemicals market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global imaging chemicals market is expected to grow at a CAGR of close to 6% during the period 2018-2022, according to a new market research study by Technavio.

The report categorizes the global imaging chemicals market by product (imaging agents and toners and developers) and by application (medical, textile, and mining). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: rising demand from the medical sector

The medical application held the highest market share in 2017. Imaging chemicals improve the imaging process by providing more clarity to images. The global imaging chemicals market for medical application is expected to experience significant growth rate. The growing geriatric population and the increasing rates of cancer and cardiac diseases are contributing to the growing demand for imaging chemicals in the medical sector. In addition, the rising level of awareness for health and the increasing government investments in the development of diagnostics are further fueling the demand for imaging chemicals. The diagnosis of diseases such as cancer and cardiac diseases require high-end imaging technology.

According to a senior analyst at Technavio for specialty chemicals research, “Medical imaging systems such as X-ray, magnetic resonance imaging, CT scan, and other imaging devices combine to form electromagnetic radiation that strikes a photosensitive surface. This produces an image that is processed using imaging chemicals. As the imaging chemicals are used in such diagnosis equipment to enhance the clarity of the images, it is estimated to drive the global imaging chemicals market.”

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Market trend: organic color developers and eco-friendly printing techniques

The imaging chemicals industry is evolving continuously. Consumers are shifting toward eco-friendly options free from health risks such as skin and respiratory diseases. Therefore, manufacturers are concentrating on the production of innovative imaging chemicals and the incorporation of organic compounds into finished products. Most of the printing devices these days use a technique that relies on toners, imaging agents, and ink in powdered form. This printing method allows high-quality, high-speed printing on any kind of paper. Manufacturers are continually pursuing different methods to develop toners that reduce environmental burdens by using just plant-based materials, reduced toner and energy consumption, and easy de-inking.

Market challenge: high cost of imaging systems

In the recent years, the imaging system has revolutionized images. But, these imaging systems are extraordinarily expensive. For instance, radiographic X-ray systems based on large area flat panel technology have advanced the digital X-ray radiographic images system. However, these active matrix flat panel imagers are very highly priced. Modern MRI systems comprise of several complexes of high-cost subsystems. The cost and complexity of these systems often make them unfeasible to be used as routine laboratory instruments, restraining their use to just hospitals and dedicated laboratories.

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Some of the companies in the global imaging chemicals market:

  • BASF
  • Kemira
  • DowDuPont
  • Tetenal
  • Kao Corporation
  • Vivimed Labs

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global imaging chemicals market is expected to grow at a CAGR of close to 6% during the period 2018-2022, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com