Contrast Media/Contrast Agent Market Growth, & Key Business Strategies by Leading Industry Players Lantheus Medical Imaging, GE Healthcare, Bayer HealthCare, Bracco Imaging S.p.A, NanoPET Pharma GmbH, Guerbet Group, CMC Contrast AB, Daiichi Sankyo, and Su

Contrast media or contrast agent is used in medical imaging to enhance the image of body parts generated through X-rays, magnetic resonance imaging (MRI), computed tomography (CT), and ultrasound. These substances are momentarily used to change the way imaging tools or x-rays interact with the body. Contrast media or contrast agent help the physicians to diagnose the medical conditions by improving the visibility of blood vessels or tissues and specific organs. These substances are added into the body prior to an imaging scan to help distinguish certain structures or tissues of interest from the surrounding tissue. Contrast media or contrast agent can be administered into the body in one of the four ways which include by enema (given rectally), orally, urethral, and by injecting into a blood vessel.

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Rise in the gas micro bubble technology in MRI imaging is expected to boost the growth of contrast media/contrast agent market

The major factors driving the growth of contrast Media/contrast agent are the use of advanced technology such as gas micro bubble technology in MRI imaging, rising incidence of chronic diseases such as cardiac diseases, gastrointestinal disorders, and cancer. Advancements in medical imaging technology and increasing demand for image guided procedures and diagnostics is fueling the growth of the market. According to the International Agency for Research on Cancer (IARC), in 2012, an estimated 14.1 million new cancer cases and 8.2 million cancer deaths were recorded worldwide and by 2030 the number is expected to escalate to 21.7 million for new cancer cases and 13 million cancer deaths. However, side effects of contrast agents such as kidney diseases and high cost associated with the contrast media injectors are some of the factors that are hindering the growth of contrast media/ contrast agent market.

The approval and launch of innovative agents with safety profile is expected to fuel the growth of contrast media market. For instance, in 2016, FDA approved Gadavist (gadobutrol) injection manufactured by Bayer AG for use with magnetic resonance angiography (MRA) to evaluate renal artery disease use in adult and pediatric patients. Also, in May 2017, the FDA expanded indication for GE Healthcare’s Visipaque (iodixanol) for use in coronary computed tomography angiography (CCTA) for diagnostic evaluation of adult and pediatric patients 12 years of age or older with suspected coronary artery disease.

On the basis of region, the global contrast media/contrast agent market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominates the contrast media/ contrast agent in the global market, followed by Europe. Improved MRI techniques in cardiovascular diseases, rise in the number of cancer and cardiac disorders, advancements in diagnostic technology, image guided surgical procedures are the factors that has propelled the growth of contrast media/contrast agent market in the North America region. According to the National Cancer Institute, in 2016, an estimated 1,685,210 new cases of cancer were diagnosed in the U.S. Also, according to the Centers for Disease Control and Prevention (CDC), 2017, an estimated 28.4 million heart cases were diagnosed in the U.S.

Key players operating in the market

In March, 2017, GE Healthcare has launched Clariscan, a gadolinium based contrast agent designed to support effective visualization of abnormalities in the spine, brain and associated tissues. Clariscan, also known to be a gold standard detection tool in MR imaging, allows prompt detection of abnormalities by helping in improving contrast between pathological and normal tissue.

The key players operating in the contrast media/contrast agent market include Lantheus Medical Imaging, GE Healthcare, Bayer HealthCare, Bracco Imaging S.p.A, NanoPET Pharma GmbH, Guerbet Group, CMC Contrast AB, Daiichi Sankyo, and Subhra Pharma Private Limited.

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Contrast Media/ Contrast Agent Market Taxonomy

Contrast Media/ Contrast Agent Market is segmented on the basis of media type, route of administration, indication, end user and geography.

On the basis of media type, contrast media/contrast agent market is segmented into:

Microbubble Contrast Media
Iodinated Contrast Media
Barium-Based Contrast Media
Gadolinium-Based Contrast Media
On the basis of route of administration, contrast media/contrast agent market is segmented into:

Oral
Rectal
Intravenous
Urethral
On the basis of indication, contrast media/contrast agent market is segmented into:

Neurological Disorders
Nephrological Disorders
Cardiovascular Disorders
Gastrointestinal Disorders
Oncology
Musculoskeletal Disorders
On the basis of end user, contrast media/contrast agent market is segmented into:

Hospitals
Ambulatory Surgical Centers
Diagnostic Clinics
Increasing incidence of cancer and cardiac disorders is expected to dominate North America region in contrast media/contrast agent market

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