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Future of Contrast Media Market: Size, Share & Forecasts to 2029
Contrast Media
What Is the Projected Market Size Valuation of the Contrast Media Market by 2025?
In recent times, there has been a consistent expansion in the market size of contrast media. The market is projected to increase from $4.68 billion in 2024 to $4.82 billion in 2025, representing a compound annual growth rate (CAGR) of 2.8%. The surge in growth during the historic period is linked to factors such as the rise in elderly population and their healthcare necessities, the proliferation of radiology and imaging centers, the boost in minimally invasive procedures, heightened occurrence of cardiovascular ailments, and the internationalization of healthcare services.
What Is the Estimated Market Growth Value for the Contrast Media Industry in 2029?
The size of the contrast media market is projected to experience consistent expansion in the upcoming years, potentially reaching $5.84 billion by the year 2029 with a compound annual growth rate (CAGR) of 5.0%. This expected growth during the projected period can be linked to several factors such as the rise of molecular imaging, the increase in diagnostic imaging modalities, the move towards personalized medicine, the worldwide prevalence of cancer, the expanding use of neuroimaging, and a shift to outpatient imaging services. Future trends anticipated during this period encompass advancements in imaging technologies, a concentrated focus on patient safety and diminished nephrotoxicity, a rise in the use of interventional radiology, further applications in oncology imaging, the introduction of low-osmolality contrast media and the use of microbubbles in ultrasound imaging.
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What Are the Growth Drivers and Opportunities in the Contrast Media Market?
The escalating occurrence of enduring illnesses and multifaceted comorbidities is projected to fuel the expansion of the contrast media market. When a single individual suffers from numerous diseases simultaneously, it is referred to as comorbidity. The process of using contrast medium (CM) in imaging accentuates the differences between human tissues in images. The best contrast medium sees high levels in tissues without causing any adverse effects, thereby pushing up demand. For instance, Oxford Academic, a UK-based university press of the University of Oxford, indicated in May 2022 that individuals with intellectual disabilities (ID) had a higher incidence of 2 or more comorbidities before the age of 65, whereas the rate was highest for those without intellectual disabilities (ID) after the age of 65. The surge in the incidence of 2 or more comorbidities was most prominent in the 55-59 age group for those with ID or Chronic obstructive pulmonary disease (COPD). Of those with ID and CVD, 17.6% were aged between 60-64 years and had 2 or more comorbidities. Therefore, the rising occurrence of enduring diseases and intricate comorbidities is propelling the growth of the contrast media market.
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What Are the Primary Segments Covered in the Global Contrast Media Market Report?
The contrast media market covered in this report is segmented -
1) By Type: Barium-Based Contrast Media, Iodinated Contrast Media, Gadolinium-Based Contrast Media, Microbubble Contrast Media
2) By Route Of Administration: Intravascular Route, Oral Route, Rectal Route, Other Route Of Administration
3) By Modality: X-Ray Or CT, MRI, Ultrasound
4) By Indication: Cardiovascular Disease, Oncology, Gastrointestinal Disorders, Neurological Disorders, Other Indications
5) By End User: Hospitals, Clinics
Subsegments:
1) By Barium-Based Contrast Media: Barium Sulfate Suspensions, Barium Tablets
2) By Iodinated Contrast Media: Non-Ionic Iodinated Contrast Media, Ionic Iodinated Contrast Media
3) By Gadolinium-Based Contrast Media: Macrocyclic Gadolinium Agents, Linear Gadolinium Agents
4) By Microbubble Contrast Media: Ultrasound Contrast Agents, Other Microbubble Formulations
What Are the Top Growth Trends in the Contrast Media Market?
The rise of technology is a prominent emerging trend in the contrast media market. Key players in this market are concentrating on introducing innovative tech-based solutions to consolidate their market position. One case in point is Germany's Bayer. In June 2022, the company, which operates in the contrast media market, introduced Calantic Digital Solutions. This innovative platform provides access to digital applications, such as AI-enabled programs for medical imaging. Such resources assist radiologists and their teams in enhancing lesion detection, prioritization, quantity measurement, and overall operational productivity. This revolutionary platform is designed to assist healthcare professionals at all points of their workflow, from diagnosis to patient treatment.
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Which Companies Are Shaping the Future of the Contrast Media Market?
Major companies operating in the contrast media market are Bayer AG, GE Healthcare, Guerbet Group, Lantheus Medical Imaging Inc., Unijules Life Sciences Ltd., J. B Chemicals and Pharmaceutical Ltd., Trivitron Healthcare Pvt. Ltd., Taejoon Pharm Co Ltd., Nano Therapeutics Pvt. Ltd., iMax Diagnostic Imaging Limited, Jodas Expoim Pvt Ltd., Livealth Biopharma Pvt. Ltd., SANOCHEMIA Pharmazeutika GmbH, Kiran Medical Systems Limited, Unispire Biopharma Private Limited, Daiichi Sankyo Company Limited, Bracco Diagnostics Inc., Jiangsu Hengrui Medicine Co. Ltd., Shanghai Xudong Haipu Pharmaceutical Co. Ltd., Spago Imaging AB, Curium Inc., Poly Pharmaceutical Co. Ltd., Zhejiang Starry Pharmaceutical Co. Ltd., Yangtze River Pharmaceutical Group, Wuhan Grand Hoyo Co. Ltd., China Resources Zizhu Pharmaceutical Co. Ltd., AMAG Pharmaceuticals Inc., Guerbet LLC
Which Region Holds the Largest Market Share in the Contrast Media Industry?
North America was the largest region in the contrast media market in 2024. Asia-Pacific is expected to be the fastest-growing region in the contrast media market report during the forecast period. The regions covered in the contrast media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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