According to the research report titled ‘Global Biologic Imaging Reagents Market Size study, by Product (Contrast Reagents, Optical Imaging Reagents, Radiopharmaceuticals), by Application (Research and Development, Diagnostics, Drug Discovery and Development) and Regional Forecasts 2020-2027’, available with Market Study Report, global biologic imaging reagents market  generated revenues worth USD 14.7 billion in the year 2019 and is expected to grow with a CAGR of 9% during 2020-2027.
 

Growing demand for medical imaging systems such as X-ray and MRI devices is one of the key factors driving the growth of global biologic imaging reagents market.
 

For those uninitiated, biologic imaging reagents play an important role in life sciences as well as other healthcare institutes. It is typically used by researchers or medical practitioners while researching or for developing diagnostic methods.
 

Biologic imaging reagents offer significant assistance during biological exposure procedures at a molecular level. Moreover, these imaging reagents also help clinicians to acquire diagnostic information for detection and treatment of chronic diseases, especially in fields of oncology, cardiovascular and neurology.
 

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Thus, increased pervasiveness of chronic disorders including cardiovascular and neurological diseases is adding traction to the expansion of global biologic imaging reagents industry. In fact, the WHO (World Health Organization) considers cardiovascular disease as one of the major causes of death across the globe.
 

The AHA (American Heart Association) also claims that the worldwide mortality numbers owing to cardiovascular disorders exceeded 1r7 million in the year 2016 and is expected to reach 23.6 million by 2030. Likewise, according to CDC (Center for Disease Control & Prevention), 655,000 deaths occur in the United States annually owing to heart conditions.
 

Thus, rising prevalence of various chronic conditions has fostered the demand for biologic imaging reagents, thereby stimulating the industry outlook. However, high implementation costs may act as a restraining factor to the expansion of the market.
 

From the regional point of view, North America currently holds the majority share in worldwide biologic imaging reagents market and is likely to showcase similar expansion trends in the subsequent years, primarily due to high healthcare expenditure and availability of advanced medical infrastructure.
 

Meanwhile, Asia-Pacific biologic imaging reagents industry is set to witness noticeable growth in the upcoming years. High occurrence of chronic disorders and improving healthcare resources, especially India and China, are favoring the regional market outlook.
 

BIOPRO Baden-Württemberg GmbH, Bayer AG, Bracco Diagnostic Inc., Promega Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Cardinal Health Inc., Beckman Coulter Inc., PerkinElmer Inc., and Thermo Fisher Scientific Inc. are the key participants in global biologic imaging reagents market.