Worldwide medical imaging reagents market on the rise

The global market for medical reagents, including those used for molecular imaging purposes, is expected to grow substantially through 2016, according to a market report announced Feb. 5 from research firm TechNavio.

The business of medical reagents the world over is expected to increase at a compound annual growth rate of 7.95 percent from 2012 to 2016. TechNavio analysts attributed the increase to aging demographics and a spike in demand for radiopharmaceuticals.

The only major caveat mentioned was dampened reimbursement for medical imaging procedures, which could restrict growth for medical reagents in the future. The report noted major pharmaceutical giants Lantheus Medical Imaging, GE Healthcare, Covidien and Bracco as the top competitors in the market. Other mentionable organizations included PerkinElmer, IBA Molecular Imaging, Guerbet, Bayer and Aspect Imaging.

Data analysis of worldwide medical imaging reagents for this report was based on data for the Americas, Europe, the Middle East and Africa, as well as Asian-Pacific countries.