Medical Imaging Reagents and Analysis Equipment
- 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%.
BCC’s goal in conducting this study is to provide an overview of the current and future characteristics of the global market for medical imaging. The key objective is to present a comprehensive analysis of the current market and its future direction as an important tool for the diagnosis of various diseases.
This report explores present and future strategies within the imaging market, including reagents, equipment and systems used for imaging. The improvisation of the market, its setbacks and needs are discussed in this report. Comparisons, usage and the advantages and disadvantages of each imaging system are also discussed in this report.
A detailed analysis of the imaging industry structure has been conducted. This includes both the imaging reagents and the equipment used. Revenues are broken down by region. Sales figures are estimated for the 5 year period from 2009 through 2014.
Applications for imaging are also discussed separately in the report, with emphasis on its usage in cardiovascular, oncology, gastrointestinal and central nervous system diseases. The report also covers significant patents and their allotment in each category.
REASONS FOR DOING THIS STUDY
Medical imaging has seen major advances in modern medicine.The “compact revolution” is changing the market of imaging systems. R&D spending, along with increasing competition, patent expiries, new technologies, and an international marketplace are sending the market in new directions. Although the industry did see some setbacks in 2008 due to the economic downturn, new advancements and the need for diagnosis through imaging are helping the market to grow. This study looks at many of the systems affected by these factors.
Acquisition strategies and collaborations by companies are also covered in this report. This study also discusses the strength and weaknesses of each system/ technology in light of new technologies, growing competition, and changing customer needs.
This study contributes to the areas of market growth in diagnosis through imaging from the point of view of manufacturers and users. Analytical companies, physicians, the pharmaceutical and biopharmaceutical industries, hospitals and research institutes will find this study to be of interest.
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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.
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.
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.
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.