Contrast Media Market is Slated to Expand at a High 7.4% CAGR through 2031

Contrast Media Market size was valued at USD 6.55 billion in 2023 to USD 11.60 billion by 2031, growing at a CAGR of 7.4% during the forecast period (2024-2031)
[https://www.skyquestt.com/report/contrast-media-market] size was valued at USD 6.55 billion in 2023 to USD 11.60 billion by 2031, growing at a CAGR of 7.4% during the forecast period (2024-2031). Growing demand for diagnostic imaging and advancements in imaging technologies are forecasted to bolster the demand for contrast media over the coming years. The growing incidence of chronic diseases and rising number of CT scans and MRI procedures around the world are also expected to favor contrast media market growth in the future.

Contrast media companies are expected to focus on expanding their product portfolio to stay competitive in the global market. Launching new and advanced contrast media with better features than products available in the market will also help companies boost their revenue generation potential. Targeting developed countries with increasing demand for imaging will pay off big time for contrast media market players in the future.

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New Contrast Media Launches - Key Revenue Generator for Contrast Media Providers

Contrast media companies are investing heavily in the research and development of new products to stand out in the global landscape. Launching new contrast media for specific diagnostic imaging applications will also provide lucrative opportunities for contrast media companies in the future. Mergers, partnerships, and acquisitions will also be highly lucrative strategies that will improve business scope for all contrast media providers in the long run. Targeting developing and underdeveloped countries will also provide lucrative opportunities for contrast media market players in the long run. Gaining approvals for new contrast media from regulatory bodies will also be major area of interest for all contrast media providers.

In April 2023, a new contrast agent for Magnetic Resonance Imaging (MRI) applications was launched. GE HealthCare was behind the launch of Pixxoscan, which helped it expand its range of contrast media. The new contrast media is suitable for use in patients of all age groups ranging from children to seniors.

Back in July 2022, a range of new contrast media was launched in the United States market. Fresenius Kabi, a renowned name in the contrast media market started off this range by launching the FDA-approved generic contrast media agent called Iodixanol Injection, USP.

In August 2022, the United States Food and Drug Administration granted an import discretion for Iomeron (iomeprol injection) citing the shortage of iodinated contrast media in the country. Bracco Diagnostics Inc. was responsible for providing the said contrast media in the country under this import discretion. '

In October 2022, in an effort to strengthen its stance in the global contrast media market, GE Healthcare signed a long-term agreement with Sociedad Quimica y Minera de Chile S.A. (SQM). Through this move, GE secured the supply of Iodine for its contrast media product portfolio as the shortage of iodinated contrast media keeps on increasing.

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This report covers following segments:

Type

Iodinated Contrast Media

Gadolinium-Based Contrast Media

Microbubble Contrast Media

Barium-Based Contrast Media

Form

Liquid Contrast Media

Powder Contrast Media

Other Forms

Modality

X-RAY

CT

MRI

Ultrasound

Route of Administration

Intravascular Route [Intravenous (IV) route, Intra-arterial (IA) route]

Oral Route

Rectal Route

Other Routes

Indication

Cardiovascular Disease

Cancer

Gastrointestinal Disorders

Musculoskeletal Disorders

Neurological Disorders

Nephrological Disorders

Application

Radiology

Interventional Radiology

Interventional Cardiology

End User

Hospitals

Clinics

Ambulatory Surgery Centers

Diagnostic Imaging Centers

This report covers following key players:

GE Healthcare (US)

Bracco Imaging S.p.A. (Italy)

Bayer AG (Germany)

Guerbet (France)

Lantheus Medical Imaging (US)

Unijules Life Sciences Ltd. (India)

J.B. Chemicals & Pharmaceuticals Limited (India)

Taejoon Pharm Co., Ltd. (South Korea)

Jodas Expoim (India)

Imax Diagnostic Imaging Limited (Ireland)

Yangtze River Pharmaceutical Group (China)

Livealth Biopharma (India)

Beijing Beilu Pharmaceutical Co., Ltd. (China)

Unispire Biopharma Private Limited (India)

Arco Lifesciences (I) Pvt. Ltd. (India)

Stanex Drugs & Chemicals Pvt. Ltd. (India)

Rege Imaging & Cine Films Private Limited (India)

K Diam Exim (India)

Onko Ilac San. ve Tic. A.S. (Turkey)

Fresenius Kabi (Germany)

Biem Ilac San. ve Tic. A.S. (Turkey)

Advacare Pharma (US)

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Innovation and Product Launches Remain Top Priority for All Market Players

New product launches will remain the preferred and mainstay strategy for almost all contrast media companies. Securing the supply of raw materials required for contrast media production will also be a major trend for all contrast media companies going forward. Staying innovative and managing demand and supply cycles will ensure success for almost all contrast media providers in the long run.

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