Global contrast agents in MRI market accounted for approximately USD 4,353.2 million in 2018 and is expected to grow at a CAGR of 4.0 % during the forecast period, 2019–2026

Contrast Agents in MRI Market

MRI contrast agents are used to improve the visibility of internal body structures in magnetic resonance imaging (MRI). It is widely used in compounds for contrast enhancement are gadolinium-based. Furthermore, the company spends millions of dollars on R&D to find appropriate agents. For instance, GE Healthcare and Schering AG spend approximately 10%–15% of the total MRI contrast agent’s sales revenue on its research & development. Thus, any company can increase the profit margin on the products by decreasing the cost of bringing a drug to the market.

The Major Players Covered in this Report:
Unijules Life Sciences Ltd.(India), Spago Nanomedical AB(Sweden), Lantheus Medical Imaging, Inc.(U.S.) , J.B. Chemicals and Pharmaceuticals Limited(India), Guerbet LLC(France), GE Healthcare(U.S.), Daiichi Sankyo Company, Limited(Japan), Bracco Imaging S.p.A.( Italy), Bayer Healthcare AG(Germany), Jodas Expoim(India), Magnus Health(India). 

Global contrast agents in MRI market accounted for approximately USD 4,353.2 million in 2018 and is expected to grow at a CAGR of 4.0 % during the forecast period, 2019–2026.

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By Type: Barium Based, Iodinated, Gadolinium Based, Microbubble, Surgical Centers, Others

By Application: Oncology, Cardiology, Neurology, Inflammations, Others

Segmental Insights

The global contrast agents for magnetic resonance imaging (MRI) market is segmented on the basis of type and application. 

 Based on type, the market is segmented into barium-based contrast media, iodinated contrast media, gadolinium-based contrast media, and micro bubble contrast media. Iodinated contrast media valued USD 1,889.4 million in 2017 and is projected to dominate the market in the coming years. Barium-based contrast media segment is expected to grow at the highest CAGR of 4.3% during the forecast period 2018–2025. Barium-based contrast media is commonly used in the diagnostic examinations of the diseases related to stomach, esophagus, small intestine, large intestine, and pharynx. For the diagnostic tests of diseases related to the gastrointestinal tract, barium-based contrast media is administered rectally by enema.

 In the basis of application, market is bifurcated into radiology, interventional radiology, and interventional cardiology. Cardiology is the fastest growing segment and is expected to reach USD 1521.2 million by 2025 at a healthy CAGR of 4.2%. This is attributed to increasing prevalence of cardiac diseases, growing incidences of sudden cardiac arrests and increasing complexity of congenital heart diseases are positively influencing the growth of the cardiology segment. For instance, according to the American Heart Association, the global number of patients suffering from cardiac diseases is expected to reach 23.6 million by 2030.

Regional Analysis For Contrast Agents in MRI Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Contrast Agents in MRI are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the Contrast Agents in MRI in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

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