Contrast Media (Contrast Agents) Market Size – Quantitative Research By QYResearch Medical

The global contrast media (contrast agents) market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving contrast media (contrast agents) market revenue growth are increasing incidence of chronic infections and musculoskeletal diseases across the globe, rapid advancements in medical sector and imaging technology, increase in global geriatric population, and constant investments in research on contrast media.

Contrast media or also known as contrast agents are a group of chemical agents that help in amplifying the contrast resolution of an imaging modality. The contrast media/agent works by temporarily altering the way imaging tools interact with the body. These contrast agents are administered into the body via different routes such as intravascular, oral, and rectal among others before the imaging exam. This helps the medical practitioners to distinguish between damaged or abnormal areas from normal areas by enhancing the visibility of specific organs, blood vessels, or tissues. Different types of contrast agents such as iodinated, barium-based, gadolinium-based, and microbubble are used in various diagnostic imaging modalities such as CT-scan, X-ray, MRI, or ultrasound.

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The contrast media market is rapidly gaining traction over the recent past and is expected to significantly grow going ahead. With the rapid developments in the diagnostic imaging technology and interventional radiology, there has been a gradual increase in the demand for advanced and more effective contrast agents.

Major Factors Driving Growth Of The Global Contrast Media (Contrast Agents) Market: 

Revenue growth of the global contrast media market is driven by various factors such as rising patient pool across the globe, increasing incidence of road accidents, mishaps, fractures, and spinal problems, and increasing public awareness about importance of performing diagnostic imaging techniques before surgeries and treatments. Moreover, rising healthcare spending, improving healthcare systems and infrastructure in developing economies, and rising investments in research and development activities is expected to boost global market growth in the coming years.

Factors Restraining Growth Of The Global Contrast Media (Contrast Agents) Market:

The global contrast media market growth is substantially hampered by various unfavorable factors such as side effects and hypersensitivity reactions such as skin rashes, nausea, coughing, and dizziness caused due to certain contrast materials in rare cases and dearth of trained professionals to handle advanced imaging systems. Moreover, high-cost diagnostic investigations and inaccessibility to latest facilities especially in underdeveloped countries is expected to hamper market growth to a certain extent going ahead.

Opportunities For Players Operating In The Global Contrast Media (Contrast Agents) Market: 

High focus on developing enhanced diagnostic imaging modalities to cater to increasing demand and increasing investments by public and private sectors to develop and launch advanced technologies and products is expected to open lucrative business opportunities for key market players. Moreover, due to patent expiry of branded products, various market players are focusing on developing cost-effective, generic contrast media products.

Global Contrast Media (Contrast Agents) Market Revenue Led By Product Type Segment:

Based on product type, the iodinated segment is expected to register highest revenue growth between 2021 and 2032 owing to high usage of iodinated contrast agents in CT scanning, radiographic, angiographic, and fluoroscopic imaging and increasing investments in research and development activities. These contrast agents are most commonly administered through intravenous or intraosseous routes.

Global Contrast Media (Contrast Agents) Market Leading Application Segment:

Based on application, the cardiovascular segment is expected to account for significant revenue share throughout the forecast period. Increasing prevalence of various cardiovascular disorders like heart attack, pulmonary embolism, heart failure, coronary heart disease, and atherosclerosis, availability of advanced imaging modalities, increasing contrast media approvals for detecting cardiovascular diseases and high adoption of contrast agents in angiography procedures are key factors fueling segment revenue growth.

North America Accounts For Largest Revenue Share In Global Contrast Media (Contrast Agents) Market:

Among the regional markets, North America is expected to account for largest revenue share between 2021 and 2032 owing to high occurrence of chronic diseases, presence of well-established healthcare infrastructure and facilities, increasing approvals of contrast agents, and favorable reimbursement plans. Other factors such as ongoing research on contrast agents, rising funds, and rapid increase in CT scan and MRI examinations across the region are fueling market growth in North America.

Asia Pacific to Lead In Terms Of Revenue CAGR:

The contrast media market in Asia Pacific is expected to register highest revenue CAGR throughout the forecast period owing to factors such as increasing patient pool, increasing number of accidents, spinal problems, and fractures, rising disposable income, improving healthcare infrastructure, and increasing adoption of latest imaging modalities. In addition, growing elderly population, presence of key players, increasing healthcare expenditure, favorable government initiatives, and increasing investments to develop enhanced contrast media are other factors boosting Asia Pacific market growth.

Major Companies Profiled In The Report:

  • GE Healthcare
  • Bracco Imaging SPA
  • Bayer AG
  • Guerbet
  • Lantheus Medical Imaging, Inc.
  • Unijules Life Sciences
  • B. Chemicals and Pharmaceuticals Ltd.
  • Taejoon Pharm
  • Jodas Expoim
  • Nano Therapeutics Pvt. Ltd.
  • iMax Diagnostic Imaging Limited
  • Livealth Biopharma Pvt. Ltd.
  • Trivitron Healthcare Pvt. Ltd.
  • Novalek Pharmaceuticals Pvt. Ltd.
  • Unispire Biopharma Private Limited
  • Congruent Pharmachem Private Limited
  • Stanex Drugs & Chemical Pvt. Ltd.
  • Beijing Beilu Pharmaceutical Co., Ltd.
  • Subhra Pharma Pvt. Ltd.

 Strategies And Objectives Of Major Companies:

  • In December 2020, GE Healthcare received US FDA approval for 5ml glass vial packaging for Clariscan, a gadolinium-based contrast media used in MRI in brain, spine, and associated tissues in pediatric patients as well as adults.

What Our Report Provides And Why Our Offering Is Better:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country-level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

Detailed Segmentation In Our Report:

For the purpose of this report, the global contrast media (contrast agents) markets is segmented on the basis of product type, modality, route of administration, application, end-use, and region

Product Type Outlook (Revenue, USD Billion; 2023-2032)

  • Iodinated
  • Barium-based
  • Gadolinium-based
  • Microbubble

Modality Outlook (Revenue, USD Billion; 2023-2032)

  • X-ray/CT
  • MRI
  • Ultrasound

Route of Administration Outlook (Revenue, USD Billion; 2023-2032)

  • Intravascular Route
  • Oral Route
  • Rectal Route
  • Others

Application Outlook (Revenue, USD Billion; 2023-2032)

  • Cardiovascular Disorders
  • Neurological Disorders
  • Gastrointestinal Disorders
  • Cancer
  • Nephrological Disorders
  • Musculoskeletal Disorders
  • Others

End Use Outlook (Revenue, USD Billion; 2023-2032)

  • Hospitals
  • Clinics
  • Ambulatory Surgery Centers
  • Diagnostic Centers

Region Outlook (Revenue, USD Billion; 2023-2032)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
    • Middle East & Africa
  • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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