Biologic Imaging Reagents Global Market Report 2024

The biologic imaging reagents market size has grown rapidly in recent years. It will grow from $16.69 billion in 2023 to $18.41 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The increase observed during the historical period can be credited to the upsurge in the prevalence of chronic diseases, heightened investments in research and development, a shift towards personalized medicine, emphasis on early disease detection, a growing geriatric population, and collaborative efforts in biomedical research.

The biologic imaging reagents market size is expected to see strong growth in the next few years. It will grow to $25.72 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth in the forecast period can be ascribed to the broadening applications in drug development, an increasing demand for molecular imaging, a concentration on non-invasive diagnostic methods, a global rise in cancer cases, and a shift towards value-based healthcare. Significant trends expected in the forecast period involve an upswing in the demand for contrast-enhanced imaging agents, the development of targeted molecular imaging agents, the application of nanoparticles in imaging, the emergence of fluorescent probes for in vivo imaging, and the integration of artificial intelligence in image analysis.

The rise in the prevalence of chronic diseases is expected to drive the growth of the biologic imaging reagents market. Chronic diseases, lasting one year or longer and necessitating continuous medical attention, often require biologic imaging reagents for the diagnosis and detection of diseases by visualizing affected organs and structures. In 2022, the American Cancer Society reported an estimated 1.9 million new cancer cases and 609,360 cancer deaths in the United States. Additionally, the IDF Diabetes Atlas Tenth Edition 2021 reported 537 million individuals with diabetes globally in 2021, projected to increase to 643 million by 2030 and 783 million by 2045. The escalating prevalence of chronic diseases is a key driver of the biologic imaging reagents market's growth.

The increasing demand for personalized medicine is anticipated to contribute to the growth of the biologic imaging reagents market. Personalized medicine tailors healthcare decisions and treatments to individual patient characteristics, utilizing biologic imaging reagents to visualize biological processes at the molecular and cellular level. In 2022, the Food and Drug Administration's Center for Drug Evaluation and Research approved 37 new molecular entities, with approximately 34% (12) classified as personalized medicines by the Personalized Medicine Coalition. This growing demand for personalized medicine is a significant factor driving the biologic imaging reagents market.

The high cost of laboratory reagents is expected to impede the growth of the biologic imaging reagents market. Elevated reagent costs may pose accessibility barriers and limit patient adoption due to financial constraints. In May 2021, laboratory reagent prices ranged from $47 to $1,250, according to Bimedis, an online medical equipment trading platform. The high cost of reagents can be a potential hindrance to the biologic imaging reagents market.

Major players in the biologic imaging reagents market are dedicating their efforts to the development of innovative reagents, particularly novel dye technology, providing a new tool for researchers and clinicians to enhance the sensitivity and specificity of biologic imaging. Novel dye technology involves the creation of new dyes for various applications, including biological imaging. In April 2022, Becton, Dickinson, and Company, a US-based medical device company, introduced BD Horizon RealYellow 586 Reagents and RealBlue Reagents. This new line of reagents enables researchers to obtain higher data resolution and more insights from samples compared to standard fluorochrome. The improvement is attributed to the incorporation of revolutionary dye technology and artificial intelligence (AI) supervision. The AI analyzed existing data from excitation and emission profiles of commercially available fluorochromes, determining optimal positions in laser lines for the development of novel dyes.

In September 2021, PerkinElmer Inc., a US-based technology and service solutions provider, completed the acquisition of BioLegend Inc. for $5.25 billion. Through this acquisition, PerkinElmer aims to broaden its product portfolio, reinforce its commitment to innovation, and facilitate the growth of its life science business to better serve customers and partners. BioLegend Inc., a US-based biotechnology company, specializes in providing antibodies, proteins, and other reagents for research and diagnostics.

Major companies operating in the biologic imaging reagents market report are Cardinal Health Inc., Johnson And Johnson Services Inc., Bayer Healthcare AG, Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Dickinson and Company (BD), Koninklijke Philips N.V., GE HealthCare Technologies Inc., Stryker Corporation, FluoroPharma Medical Inc., Lonza Group AG, Illumina Inc., PerkinElmer Inc., Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Bracco Diagnostics Inc., Leica Microsystems GmbH, Lantheus Medical Imaging Inc., Guerbet SA, Miltenyi Biotec B.V. and Co. KG, Promega Corporation, Abcam plc., Luminex Corporation, MILabs, LI-COR Biosciences, FUJIFILM VisualSonics Inc., Advanced Proteome Therapeutics Incorporated, BIOPRO Baden-Württemberg GmbH, ABX Advanced Biochemical Compounds GmbH.

North America was the largest region in the biologic imaging reagents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biologic imaging reagents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biologic imaging reagents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Biologic imaging reagents encompass substances or compounds employed in diverse imaging techniques to augment the visibility and contrast of biological structures, molecules, or processes. These reagents are specifically designed to interact with distinct biological targets, such as proteins, nucleic acids, or cellular structures, thereby enhancing their visibility and distinguishability during imaging.

The primary categories of products within biologic imaging reagents include contrast reagents, optical imaging reagents, and radiopharmaceuticals. Contrast reagents are substances utilized in medical imaging to amplify the visibility of specific tissues. This encompasses various modalities such as magnetic resonance imaging (MRI), ultrasound, x-ray, and computerized tomography (CT), nuclear, optical, and others, applied in various contexts, including in vitro and in vivo. Diagnostic laboratories, imaging centers, life science companies, research and academic institutes, and other entities make use of these reagents.

The biologic imaging reagents market research report is one of a series of new reports that provides biologic imaging reagents market statistics, including biologic imaging reagents industry global market size, regional shares, competitors with a biologic imaging reagents market share, detailed biologic imaging reagents market segments, market trends and opportunities, and any further data you may need to thrive in the biologic imaging reagents industry. This biologic imaging reagents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biologic imaging reagents market consists of sales of gadolinium-based contrast agents, iodinated contrast agents, microbubbles, nanoparticles, bioluminescent probes, immunohistochemistry reagents, optical imaging agents, paramagnetic agents and fluorescent dyes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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