Press release
Contrast Media/Contrast Agents Market is anticipated to grow up to USD 7.3 billion by 2031 | Bracco Imaging SPA (Italy), Bayer AG (Germany), Guerbet (France), Lantheus Medical Imaging, Inc. (US)
Global Contrast Media/Contrast Agents Market report from Global Insight Services is the single authoritative source of intelligence on Contrast Media/Contrast Agents Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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A contrast agent referred to as a contrast medium, is a substance used to increase the contrast of structures of fluids in the body during medical imaging. Contrast agents improve the visibility of the targeted tissues, structures or blood vessels. Contrast agents alter or absorb external electromagnetism or ultrasound, which further emits radiation themselves. Barium-based contrast media, iodinated contrast media, gadolinium-based contrast media, and microbubble contrast media are commonly used contrast agents during MRI and ultrasound. The rising prevalence of cancer, neurological and cardiovascular diseases, growing partnerships and acquisitions among players to launch new products, and emerging innovations in contrast media are some of the factors likely to boost the global contrast media market during the projection period.
Market Trends and Drivers
The growing approval of contrast agents is propelling the growth of the contrast media market. The increasing global prevalence of chronic diseases has resulted in a significant increase in the demand for diagnostic imaging procedures and, in turn, contrast media. The rising demand for imaging procedures has resulted in extensive R&D by contrast media manufacturers to launch novel products in the market and to get the contrast media approved in new indications. For example, in 2021, Bracco received US FDA approval for the 20-vial pack configuration of Lumason, which is an ultrasound contrast agent.
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Contrast Media/Contrast Agents Market Segmentation
The report analyses the global contrast media/contrast agents market based on the type, modality, route of administration, indication, application, end user, and region.
Contrast Media/Contrast Agents Market by Modality
By modality, it is segmented into X-ray/CT, MRI, and Ultrasound. The X-ray segment is likely to dominate the market during the forecast period. The key factors such as the rising prevalence of chronic diseases coupled with growing approvals of contrast agents are propelling the growth of the market.
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Contrast Media/Contrast Agents Market by Application
By application, it is segmented into radiology, interventional radiology, and interventional cardiology. The radiology segment is likely to dominate the market during the forecast period. The key factors such as the rising volume of CT and MRI examinations performed coupled with the availability of reimbursement are boosting the growth of the market.
Contrast Media/Contrast Agents Market by End Users
By end user, it is segmented into hospitals, clinics, & ambulatory surgery centers, and diagnostic imaging centers. The hospital, clinics & ambulatory surgery centers segment is likely to dominate the market during the forecast period. The rising geriatric population and the increasing prevalence of CVD across the globe are boosting the growth of the market.
Geographical Analysis of Contrast Media/Contrast Agents Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is likely to dominate the market during the forecast period. The key factors such as the presence of major players in the region, high prevalence of chronic disorders, growing geriatric population, and the increasing adoption of minimally invasive procedures are boosting the growth of the region.
Players in Contrast Media/Contrast Agents Market
The key players studied in the global contrast media/contrast agents are GE Healthcare (US), Bracco Imaging SPA (Italy), Bayer AG (Germany), Guerbet (France), Lantheus Medical Imaging, Inc. (US), Unijules Life Sciences (India), J.B. Chemicals and Pharmaceuticals Ltd. (India), SANOCHEMIA Pharmazeutika GmbH (Austria), Taejoon Pharm (South Korea), Jodas Expoim (India), Nano Therapeutics Pvt. Ltd. (India), Kiran X-ray (India), iMax Diagnostic Imaging Limited (Ireland), Livealth Biopharma Pvt. Ltd. (India), Trivitron Healthcare Pvt. Ltd. (India), Novalek Pharmaceuticals Pvt. Ltd. (India), Unispire Biopharma Private Limited (India), Acro Lifesciences (I) Pvt. Ltd. (India), Congruent Pharmachem Private Limited (India), Stanex Drugs & Chemical Pvt. Ltd. (India), Beijing Beilu Pharmaceutical Co., Ltd. (China), Onko Ýlaç San. ve Tic. A.Þ. (Turkey), and Subhra Pharma Pvt. Ltd. (India).
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