Soaring Demand Set to Propel MRI Contrast Media Market to $2.11 Billion by 2029

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What Is the Expected CAGR for the MRI Contrast Media Market Through 2025?
The size of the mri contrast media market has seen substantial growth recently. Projected to rise from $1.56 billion in 2024 to $1.66 billion in 2025, it exhibits a compound annual growth rate (CAGR) of 6.4%. Factors contributing to this impressive growth during the past period include heightened need for early disease detection, improved diagnostic precision and patient outcomes, increased public understanding, the evolution of combined imaging methods, and the discovery of innovative applications for contrast agents.

What's the Projected Size of the Global MRI Contrast Media Market by 2029?
The market size of MRI contrast media is projected to witness robust expansion in the upcoming years. It is set to escalate to a worth of $2.11 billion by 2029, increasing at a compound annual growth rate (CAGR) of 6.1%. Factors propelling the growth during the forecast period include the surging incidence of cancer, escalating prevalence of chronic illnesses, a rise in research and development investment and undertakings, an increase in healthcare expenditure, and broadening applications of MRI. Foreseeable trends during the forecast span include advancement through cooperative research, technological progress, product evolution, the development of safer and more potent contrast agents, and product innovations by pharmaceutical and biotech firms.

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Top Growth Drivers in the MRI Contrast Media Industry: What's Accelerating the Market?
The MRI contrast media market is predicted to expand due to increasing incidence of cancer. Influencing factors contributing to the prevalence of this disease range from lifestyle and environmental factors, to genetic and healthcare-related conditions. MRI scans are enhanced by gadolinium-based compounds that are used as contrast agents. These compounds improve the imagery by modifying tissue magnetic properties which aid in tumor detection, measurement, and characterisation, as well as evaluating the extent of their invasion into other tissues. For example, in February 2024, the World Health Organization, a Switzerland-based international organization, reported that the global estimated count of new cancer cases had reached 20 million by 2022, resulting in approximately 9.7 million deaths. Future estimates indicate a substantial rise in cancer cases by 2050, with over 35 million new cases foreseen, representing a 77% increase from the projected 20 million cases in 2022. Thus, cancer's growing prevalence is a catalyst for the growth of the MRI contrast media market.

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What Trends Will Shape the MRI Contrast Media Market Through 2029 and Beyond?
Leading corporations in the MRI contrast media market are prioritizing the creation and distribution of high-end products like macrocyclic gadolinium-based contrast agents (GBCA) to improve the preciseness and safety of MRI scans. Macrocyclic gadolinium-based contrast agents serve as significant elements in medical imaging, specifically in magnetic resonance imaging. For example, Guerbet, a French MRI contrast media company, introduced Elucirem (gadopiclenol) injection in February 2023. What sets the Elucirem (gadopiclenol) injection apart is its remarkably stable macrocyclic gadolinium-based contrast agent that possesses the highest relaxivity in its class for MRI scanning. This pioneering blend of gadopiclenol is crucial for identifying and illustrating lesions with irregular vascularity across different areas of the central nervous system like the brain, spine, and related tissues, as well as parts of the body including the head, neck, thorax, abdomen, pelvis, and musculoskeletal system.

What Are the Main Segments in the MRI Contrast Media Market?
The mri contrast media market covered in this report is segmented -

1) By Product: Extracellular Contrast Agents, Blood-Pool Agent, Hepatobiliary Agents
2) By Application: Neurological Disorders, Musculoskeletal Disorders, Cardiovascular Disorders, Cancer Detection, Other Applications
3) By End-User: Hospitals, Diagnostic And Imaging Centers, Research Institutes, Other End Users

Subsegments:
1) By Extracellular Contrast Agents: Gadolinium-Based Contrast Agents (GBCA), Non-Gadolinium-Based Contrast Agents
2) By Blood-Pool Agent: Macromolecular Agents, Nanoparticle-Based Agents
3) By Hepatobiliary Agents: Hepatocyte-Specific Agents, Biliary-Specific Agents

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Which Top Companies are Driving Growth in the MRI Contrast Media Market?
Major companies operating in the MRI contrast media market are Bayer AG, GE Healthcare Technologies Inc., Fresenius Kabi AG, Fujifilm Holdings Corporation, JB Chemicals and Pharmaceuticals Ltd., Jiangsu Hengrui Pharmaceutical Co. Ltd., Bracco S.p.A., Miltenyi Biotec B.V. & Co. KG, Lantheus Medical Imaging Inc., Guerbet LLC, Curium Pharma, Spago Nanomedical AB, AMAG Pharmaceuticals Inc., Nanopet Pharma GmbH, Trivitron Healthcare, Beijing Beilu Pharmaceuticals Company Limited, Unijules Life Sciences Ltd., Taejoon Pharm Co. Ltd., Mediso USA LLC, Nano Therapeutics Pvt. Ltd., Livealth Biopharma Pvt Ltd., BioPAL Inc., Vitalquan LLC, Shubhra Biotech Pvt Ltd., Rege Imaging & Cine Films Private Limited, Polarean Inc.

Which Regions Will Dominate the MRI Contrast Media Market Through 2029?
North America was the largest region in the MRI contrast media market in 2024. The regions covered in the MRI contrast media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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