DUBLIN--(BUSINESS WIRE)--The "Medical Imaging Agents Global Market - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
Medical imaging agents market is expected to grow at mid-single-digit CAGR from 2019 to 2026 to reach $12,290.7 million by 2026.
Medical imaging agents global market by molecule/isotope segmented into contrast agents and nuclear medicine. According to the author, the contrast agents' global market is expected to grow at a mid-single-digit CAGR from 2019 to 2026.
Iodine-based contrast agents market held the largest market revenue in 2019 and the microbubble segment is the fastest-growing segment at double-digit CAGR from 2019 to 2026 due to expansion in disease indications. Based on ionicity, the Iodine-based contrast agent is segmented into ionic and non-ionic. Non-Ionic Iodine-based contrast agents market accounted for the largest share in 2019. Non-ionic iodine contrast agents are used more because of lower osmolality, they are better tolerated and another advantage is that they appear to have less toxicity. Ionic Iodine based contrasts are further segmented by its chemical structure into monomers and dimers.
Monomers market accounted for the largest share in 2019. Non-Ionic Iodine based contrasts are further segmented by its chemical structure into monomeric and dimeric. Monomerics market accounted for the largest share in 2019 and is projected to grow at a low single-digit CAGR from 2019 to 2026 as they are safer and tolerable when compared to ionic contrast agents and low osmolar agents do not dissociate into a particle in solution and helps in reducing the neurotoxicity.
The nuclear medicine global market is poised to grow at a mid single-digit CAGR from 2019 to 2026. Increased radioisotopes applications, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, the abundance of radiopharmaceuticals, advancement in imaging technology (hybrid imaging) is boosting the nuclear medicine market growth. Also, increasing need in emerging markets, production of radiopharmaceuticals from cyclotrons, efficient diagnosis and treatments, emerging radio isotopes and replacement of old/traditional equipment are the opportunities likely to propel the growth of nuclear medicine market.
The nuclear medicine global market by isotopes are segmented into Technetium (Tc-99m), Thallium (Tl-201), Gallium (Ga-67), Iodine (I-123), Xe-133, Samarium (Sm-153), Rhenium (Re-186), Fluorodeoxyglucose (18F-FDG), Gallium (Ga-68), Rubidium (Rb-82) and others. Technetium (Tc-99m) isotope market held largest revenue in 2019 and expected to grow at mid-single-digit CAGR from 2019 to 2026 and Fluorodeoxyglucose (18F-FDG) is projected to grow at a strong CAGR from 2019 to 2026 due to accuracy.
The Medical imaging agents market by modality is segmented into X-Ray/CT, MRI, Ultrasound, SPECT and PET. X-Ray/CT market held the largest market revenue in 2019 and the ultrasound segment is growing rapidly at high double-digit CAGR from 2019 to 2026 due to increased use in diagnostic procedures especially echocardiography, focal liver lesions and ultrasonography of urinary tract.
The Medical imaging agents market by applications is segmented into cardiovascular, cancer, gastrointestinal, musculoskeletal, neurology, nephrology, obstetrics & gynecology, pulmonary, hepatology and others which include the neck, bone, and salivary gland imaging.
The cardiovascular market accounted for the largest share in 2019 and cancer is the fastest growing market with projected single digit CAGR growth from 2019 to 2026 due to increasing in cancer imaging such as lung, thyroid and breast cancer imaging procedures using Iodine, Gadolinium and microbubble contrast agents and radiopharmaceuticals. Medical imaging agents market by route of administration is segmented into intravascular, oral, rectal and others, which include intraosseous, intrathecal and intravesical.
Intravascular accounted for the largest share in 2019 and is the fastest-growing market with projected mid-single-digit CAGR from 2019 to 2026 due to an increase in incidence and prevalence of cardiovascular, cancer, neurology, nephrology related conditions which require Iodine, Gadolinium, microbubble contrast agent and nuclear medicine to be administered intravascular.
Medical imaging agents market by imaging is segmented into diagnostics and interventional imaging. Diagnostic imaging commanded the largest revenue in 2019 and expected to grow at a CAGR low single-digit CAGR from 2019 to 2026. The interventional imaging segment is estimated to grow rapidly at double-digit CAGR from 2019 to 2026 due to an increase in image guide procedures and an increase in the aging population who usually opt minimally invasive procedures.
Medical imaging based on the end-user market is segmented into hospitals, diagnostic & ambulatory surgical centers and others which include academic and research institutes. Hospitals market accounted largest share in 2019, the rising demand for the diagnosis using CT or X-Ray, MRI, ultrasound, SPECT and PET imaging procedures due to an increase in incidence and prevalence of diseases, the ready availability of cyclotrons for the generation of isotopes and presence of trained technicians who can handle radioisotopes.
Diagnostic & Ambulatory surgical centers are the fastest-growing market and are estimated to grow at mid-single-digit CAGR from 2019 to 2026 due to increase in the number of diagnostic procedures related to musculoskeletal (arthroscopy, imaging of spine), gastrointestinal (imaging of the abdomen, GI tract) and obstetrics & gynecology (hysterosalpingography).
Geographically, the North America region commanded the largest revenue in 2019 due to favorable reimbursement coverage, technological advancement in equipment, increased utilization of fusion imaging and an increase in incidence and prevalence of disease conditions due to changes in lifestyle, obesity has led the market growth in this region. However, the Asia-Pacific region is the fastest-growing market and is expected to grow at double-digit CAGR from 2019 to 2026 due to increased healthcare awareness, improved economic growth, large patient pool, and rising aged population.
The Medical imaging agents' global market is a competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares and also acquiring companies for product expansion.
Factors Influencing Market
Drivers And Opportunities
- Increasing Demand For Imaging Agent-Assisted Diagnostic Procedures
- Production Of Radiopharmaceuticals From Cyclotrons
- The Growth Of Medical Imaging Technologies In Emerging Markets
- Usage Of Hybrid Imaging
- Favorable Reimbursement
Restraints And Threats
- Side Effect Associated With Medical Imaging Agents
- The Shorter Half-Life Of Radiopharmaceuticals
- Shortage Of Radiologist And Qualified Technicians
- High Cost And Supply Shortage Of Isotopes
- Stringent Regulations For Manufacturing And Marketing Of Medical Imaging Agents
Major Player Profiles
- Bayer Group
- Bracco Group
- Cardinal Health Inc.
- Curium Pharma
- Fujifilm Holdings Corporation
- Fujipharma Co Ltd
- GE Company (Ge Healthcare)
- Jubilant Lifesciences
- Lantheus Medical Imaging Inc.
- Novartis (Advance Accelerator Applications S.A.)
Other Companies Mentioned
- Avid Radiopharmaceuticals, Inc (Eli Lilly and Company)
- Advanced Accelerator Applications Sa (Novartis Co.)
- Australian Nuclear Science and Technology Organization
- Bayer Group
- Beijing Beilu Pharmaceuticals Company Limited
- Biem Pharmaceuticals
- Bracco Imaging S.P.A.
- BV Cyclotron
- Canadian Isotope Innovations Corp.
- Cardinal Health
- Center of Molecular Research
- Centre For Probe Development And Commercialization
- China National Nuclear Corporation (China Isotope & Radiation Corporation)
- Curium Pharma
- Daihan Pharma Co Ltd
- Dongkook Lifescience
- Eckert & Ziegler Strahlen
- Eczacibasi-Monrol Nuclear Products
- Fluoro Pharma
- Fujifilm Corporation
- Fujipharma Co Ltd
- Futurechem Co. Ltd
- Galenica Senese S.R.L
- GE Healthcare
- Graton Pharma
- Hana Pharm Co., Ltd
- Harmony Life Sciences
- Huayi Technology Co., Ltd (Huayi Isotopes Co)
- Imax Diagnostic Imaging Limited
- Institute Of Isotopes
- International Isotopes Inc.
- Iso-Analytical Ltd.
- Isorad Ltd
- Iso-Tex Diagnostics Inc.
- Isotopia Molecular Imaging Ltd.
- I-Themba Labs
- JB Chemicals And Pharmaceuticals Ltd
- Jodas Expoim Pvt. Ltd
- JSC Isotope
- Jubilant Lifescience
- Lantheus Medical Imaging
- Magnus Health
- Medical Isotopes
- Nano Therapeutics
- National Institute For Radioelements (Ire)
- Nihon Medi Physics Co Ltd
- Nuclear Research And Consultancy Group (Nrg)
- Otsuka Pharmaceutical Co., Ltd
- Pars Isotope
- Perma-Fix Medical S.A.
- Pharmalucence Inc.
- Rege Imaging & Cinefilms Private Limited
- Rotop Pharmaka Gmbh
- Samyoung Unitech
- Shine Medical Technologies, Inc
- Solcom Limited
- South African Nuclear Energy Corporation (Ntp Radioisotopes Soc Ltd)
- Stryker(Novadaq Technologies)
- Swan Isotopen AG
- Taejoon Pharm Co. Ltd.,
- Trivitron Healthcare
- Unijules Life Sciences Ltd
- Unimark Remedies
- Zag Zyklotron AG
- Zhejiang Starry Pharma
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