Contrast Media Agents Market 2019: Key Growth Drivers and Current Industry Trends | Top Key Players like General Electric, Bayer, Bracco, Guerbet, Lanthus Medical Imaging, nanoPET Pharma, Unijules Life Sciences, Magnus Health Management

The global contrast media agents market accounted to US$ 4,855.2 Mn in 2018 and is expected to grow at a CAGR of 4.0% during the forecast period 2019 – 2027, to account to US$ 6,860.6 Mn by 2027.

The market for contrast media agents is expected to grow significantly due to factors such as increasing prevalence of chronic diseases, development of diagnostic imaging modalities, rising number of diagnostic tests performed, and increasing number of approvals for contrast agents are expected to accentuate the growth of the market. However, the factors such as rigorous regulations for radio-imaging agents and side effects associated with contrast media leading to adverse health conditions are likely to act as restraining factors for the contrast media agents market.

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The major players operating in the contrast media agents market include, General Electric, Bayer AG, Bracco, Guerbet, Lanthus Medical Imaging Inc., nanoPET Pharma GmbH, Unijules Life Sciences Ltd., Magnus Health Management Pvt. Ltd, j. B Chemicals and Pharmaceutical Ltd and Jodas Expoim. The market has carried out various organic growth strategies in the market which has assisted in strengthening their product offering in the market.

Intravascular segment is expected to grow the market for contrast media agents over the forecast period by route of administration segment.

Global contrast media agents market was segmented by type, imaging modality, indication and route of administration. The type segment was classified as iodinated contrast media, gadolinium based contrast media, barium-based contrast media, microbubble contrast media. Based on the imaging modality the market is classified as X-Ray/CT, magnetic resonance imaging and ultrasound. On the basis of indication the market is classified as cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, nephrological disorders. And based on the route of administration the market is divided into intravascular, oral and rectal.

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Growth Opportunities in The Developing Nations

The number of chronic non-communicable disease are rising across the globe, the prevalence is significantly rising among the developing nations across the globe. The incidences are rising due to the shift in the lifestyle and the other health conditions sue to the change in the adoption of the modernized facilities. The modernized facilities reduced the physical activities, the stress level among the people are also rising. This is expected to be a leading factor to support rising demand for the contrast media agents, with generating patient awareness regarding taking preventive measures as well as benefits of early diagnosis. The developing nations are significantly developing their healthcare facilities and services and are heading towards the technological advancements. With increasing costs of manufacturing against their practices, the medical device manufacturers are struggling to generate enough revenue to please their investors. The emerging markets in the developing economies are expected to be the crucial factor offering better and lucrative growth opportunities for the major players to expand their business and geographic reach.

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