Biologic Imaging Reagents Market To Double

According to a new technical market research report, the global market for biologic imaging reagent technology is expected to be worth US$5.8 billion in 2008. This will increase to over $9.5 billion in 2013, for a compound annual growth rate (CAGR) of 10.2%.

The market report, from BCC Research (Wellesley, MA, USA), is broken down into contrast reagents, optical reagents, and nuclear reagents. Of these, contrast reagents have the largest share of the market, worth an estimated $2.6 billion in 2008. This should increase to $3.7 billion in 2013, for a CAGR of 7.2%.

Nuclear reagents have the second largest market share, generating an estimated $2.1 billion in 2008. This is expected to increase at a CAGR of 12.5% to reach $3.7 billion in 2013. The third largest share of the market belongs to optical reagents, with sales of over $1.2 billion in 2008. This should reach $2.1 billion in 2013, for a CAGR of 12.1%.

Biologic imaging reagents play a fundamental role in current medical, pharmaceutical, and biotechnology industries. Optical imaging reagents allow life sciences researchers and drug developers to visualize and detect biologic processes at the molecular level and to perform key genomics, proteomics and cellular analysis assays. Nuclear and contrast reagents provide important diagnostic information to physicians, enabling the early detection and treatment of disease conditions in cardiology, neurology and oncology.

Technology and market forces are creating a key shift in biologic imaging reagents toward highly specific, multifunctional reagents, according to BBC Research analysts. This shift is creating opportunities for reagent manufacturers to address strategic market opportunities in genomics, proteomics, live cell imaging, early detection of cancers and neurological disorders, drug development, and hybrid imaging/therapeutic reagents.

A main competitive strategy for achieving success in biologic imaging reagents businesses has been acquiring unique technology in fluorescent proteins, fluorescence dyes and probes, quantum dots, and nanotechnology. A second route to gaining technologic competitive advantage is through strategic industry alliances.

BCC Research is a publisher of market research reports and technical publications.

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