Diagnostic imaging is a technique of producing visual representation of internal parts of the body. The diagnostic imaging technique is used for visualization of the function of internal organs, clinical analysis, and medical interventions. Diagnostic imaging helps to reveal internal picture hidden by the bones and skin and is used widely for diagnosing diseases and disorders. Radiology is a branch of medical science that uses diagnostic imaging to diagnose diseases within the human body. There are many imaging techniques such as X-ray radiography, computed tomography (CT), ultrasound, magnetic resonance imaging (MRI), and nuclear medicine, including positron emission tomography (PET). Diagnostic imaging agent is a substance administered to enhance contrast in the inside images of the body obtained using X-rays, gamma rays, sound waves, radio waves (MRI), or radioactive particles in order to diagnose diseases. The diagnostic imaging agents are commonly referred as contrast agents. Diagnostic imaging lacks visualization clarity which is peculiar, considering contrast agents have long been used with all imaging techniques. In general, the contrasting agent works on the principle with determining echo scattering in all cases of diagnostic imaging techniques.
Developed and introduced microbubble contrast agents are safe and effective in clinical practice, which are likely to open new opportunities for the global diagnostic imaging agents market. In addition, increase in number of diagnostic procedures with growing medical infrastructure is anticipated to drive the global market during the forecast period. Omnipaque, Visipaque, Iopamiron, Ultravist, and Cardiolite are the highest selling diagnostic imaging agents present in the market. Ideally, imaging agents should have characteristics such as selectivity for biochemical targets, good ratio of specific to non-specific binding, better safety profile, and signal amplification capabilities. However, high costs and significant break in the development of imaging agents for commercialization are estimated to limit the growth of the global market. The market growth is likely to get slower as long as the issue of commercialization of diagnostic imaging agents are not addressed.
The global diagnostic imaging agents market has been segmented on the basis of type, route of administration, procedure, application, and geography. In terms of type, the market is classified into ionic and nonionic imaging agents which consist of barium-based imaging agents, iodinated imaging agents, gadolinium-based imaging agents, and microbubble contrast media. The iodinated imaging agents segment is estimated to drive the growth of the market owing to high volume globally. Based on route of administration, the global market is classified into oral, rectal, urethral, and parenteral. Increase in use of injectable in various procedures such as X-ray, CT scan, MRI, and ultrasound are expected to drive this segment of the market. Based on procedure, the global diagnostic imaging agents market has been classified into X-ray imaging agents, CT scan imaging agents, MRI imaging agents, and ultrasound imaging agents. The high number of approvals for ultrasound contrast media in various markets is a key factor driving the growth of this segment. Based on application, the global market has been divided into radiology, interventional cardiology, and interventional radiology. The radiology segment is estimated to contribute a high share of the market owing to increase in number of diagnostic procedures.
Geographically, the global diagnostic imaging agents market is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is estimated to dominate the global diagnostic imaging agents market during the forecast period owing to developed health care infrastructure and high number of diagnostic procedures. Europe is expected to be the second leading market during the forecast period globally. India, China, and Japan are the developing countries in Asia Pacific, and hence fuel the growth of the Asia Pacific market.
The major players operating in the global diagnostic imaging agents market include GE Healthcare, Bayer HealthCare, Daiichi Sankyo Company, Limited, Eisai Co., Ltd., Aytu BioSciences, Inc., Guerbet Group, and Bracco Imaging S.p.A.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.