Global Markets for Medical Imaging Reagents and Analysis Equipment
Report Highlights
The global medical imaging market was valued at $25.4 billion in 2011 and should reach $26.7 billion in 2012. Total market value is expected to reach nearly $34.1 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 5%.
SCOPE OF THE STUDY
The scope of this study encompasses imaging technology in the field of medicine. BCC analyzes each imaging market and its applications, regulatory environment, technology, market projections and market shares. Technological issues include the latest trends and developments. The emerging market for enzyme inhibitors includes countries such as India, China, Japan, Korea, Taiwan, Canada, Africa, Australia and New Zealand, among others.
Analyst Credentials
Shalini Shahani Dewan focuses on pharmaceuticals and biotechnology and has been a BCC Research contributor since 2002 as both an analyst and project manager. She has explored a wide range of topics and companies, including working for Johnson & Johnson doing market surveillance. She has an undergraduate degree in pharmacy and master's degree in medicinal chemistry. She resides in the Bay Area.
Report Highlights
- Global revenue of the imaging market was worth approximately $21.8 billion in 2008, a figure that further increased to $22.6 billion in 2009. This is projected to reach $29 billion in 2014, at a CAGR of 5.1% between 2009 and 2014.
- The largest segment X-ray and computed tomography was nearly $9.2 billion in 2008; this further increased to $9.3 billion in 2009, this is projected to reach $11.3 billion in 2014, for a 5-year CAGR of 3.9%.
- The Second largest segment ultrasound was nearly $5 billion in 2008; this further increased to $5.1 billion in 2009, this is projected to reach $6.1 billion in 2014, for a 5-year CAGR of 3.4%.
Report Highlights
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The U.S. market for medical imaging reagents and analysis tools is valued at a little more than $4.9 billion in 2006 and is expected to grow at an average annual growth rate of 11.9% to reach over $8.4 billion in 2011.
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Imaging reagents currently comprise the largest segment with a value of $2.97 billion in 2006. Medical imaging reagents are expected to increase at an average annual rate of 10.5% to reach $4.9 billion in 2011. The market for imaging reagents is currently led by radiopharmaceuticals for nuclear medicine imaging. The market for these reagents was over $1 billion in 2006 and is expected to grow with an average annual rate of 11.8% to surpass $1.7 billion in 2011. Ultrasound imaging reagents are expected to experience the most significant growth with an average annual rate of 36% to reach $252.8 million in 2011.
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Within the image analysis market, tools for the analysis of ultrasound images were $190.5 million in 2006 and are expected to grow at an average annual rate of 13.6% to reach $360.6 in 2011.
Report Highlights
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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%.
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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.
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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.
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Sales of reagents for cardiovascular applications were $770 million in 2003 and are expected to rise at an AAGR of 7.0%.
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Reagents used in oncology and GIT are rising at AAGRs of 7.0% and 5.1%, respectively.