Medical Imaging Reagents

Report Highlights

• The total U.S. market for imaging reagents was $2.8 billion in 2003 and is expected to grow to $ 3.9 billion by 2008 at an AAGR (average annual growth rate) of 6.9%.
• While currently the largest market, the x-ray segment appears stagnant, increasing at a very low rate, while the ultrasound market is rising rapidly with many new developments.
• The MRI reagent market is the prime market for today since a good number of products are available and many more are in the pipeline.
• Sales of reagents for cardiovascular applications were $770 million in 2003 and are expected to rise at an AAGR of 7.0%.
• Reagents used in oncology and GIT are rising at AAGRs of 7.0% and 5.1%, respectively.

INTRODUCTION

The imaging market is changing due to demands for safe and less costly reagents. The key, current objective focuses on the use of nonionic reagents. Available alternatives and preferences for using various reagents for imaging have made the industry acutely aware of the related issues and economic characteristics.

This timely BCC study looks at almost all the types of imaging markets affected by these factors. The rapid development of the technologies, major changes in market behavior, and the high impact that imaging technology has upon healthcare expenses all justify focusing on this segment. The report provides a comprehensive overview of the imaging reagent market and its future direction, with emphasis on reagents used in imaging technology.

Cardiovascular reagents have a large share of the imaging reagent market. More reagents are being discovered for the use in imaging technology with an emphasis on enhancers that provide more precise images. A bright future is foreseen for central nervous system and gastrointestinal imaging reagents over the next few years.

The growth of acquisition strategies and collaborations by companies to gain better market share also is covered in the report. This study discusses strengths and weaknesses of reagents on the market in light of new technologies, growing competition and changing customer needs.

SCOPE OF STUDY

The report contains:

• Discussion of the basic principles behind all types of imaging including x-rays, ultrasound, magnetic resonance, radiopharmaceuticals and ionic and nonionic
• Discussion of the regulations governing their use
• Analysis of medical imaging reagent markets over a five-year period with forecasts through 2008
• Overviews of the companies selling these products
• Analysis of the factors affecting markets for these products, and how those markets are likely to change.

METHODOLOGY

A comprehensive literature and patent search was conducted. The literature included technical newsletters and journals, as well as many other sources. The data was collected through interviews/mails of various analytical/chemical and pharmaceutical companies. This data was complied and the projections were based on such estimates such as the current number of end users, potential end users, likely unit prices, rates of consumption and the market trends.

INFORMATION SOURCES

BCC surveyed many companies to obtain data for this study. Included were manufacturers and the end users of the imaging reagents. We gathered the data from these industries, also spoke with officials of these industries, consulted newsletters, company literature, product literature, a host of technical articles, journals, indexes, and abstracts. Exhaustive investigations of databases by key terminology were performed. In addition, data was compiled from current financial and trade information and government sources.

AUTHOR'S CREDENTIALS

Shalini Shahani holds a Masters degree in Pharmaceutical Chemistry. Among the research topics she has covered are: Studies on Compounds of Potential and Pharmaceutical Interest from Ibuprofen and 2-Naphthyl Acetic acid. Shahani was awarded a Gold medal by the Prime Minister of India for her work and has worked with top companies in India and in the U.S. Some of her other reports with BCC are "Reagents of Chromatography", "Spectroscopy, an Enduring Market" and "Advanced Drug Delivery Systems".