The global contrast media market is expected to reach USD 6.79 billion in 2028 and register a steady revenue CAGR of 3.6% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are growing elderly population, rising number of diagnostic centers and hospitals, and increasing number of UD FDA approvals for contrast media.
Contrast media, also known as contrast agents are commonly used to improve diagnostic value of imaging modalities such as ultraviolet, CT scan, and MRI by increasing the contrast of structures and fluids within the human body. These contrast agents distinguish between abnormal conditions and normal health conditions. Some of the commonly used contrast media are iodinated, barium-based, gadolinium-based, and microbubble and are administered using contrast media injectors via different routes such as oral, intravascular, and rectal. One of the key factors surging demand for contrast agents is increasing prevalence of cancer, cardiovascular diseases, neurological disorders. Other factors such as improving healthcare infrastructure, rising adoption of advanced diagnostic systems by hospitals and diagnostic centers, and increasing number of ultrasound, MRI, and CT examinations are expected to continue to drive market growth. In addition, increasing focus on developing cost-effective contrast media and rising investments by various public and private organizations are expected to drive market growth going ahead.
However, high cost of contrast media injectors, mild and adverse side effects associated with contrast media, and lack of skilled professionals to operate latest imaging systems are key factors expected to hamper global market growth between 2021 and 2028. In addition, unavailability of advanced diagnostic systems in many developing countries is expected to hamper demand for contrast media to a certain limit going ahead.
Some key highlights of the report:
- Among the type of contrast media, the microbubble segment is expected to register rapid revenue CAGR over the forecast period. Increasing prevalence of various chronic diseases globally, rising demand for ultrasound imaging, high usage of microbubble contrast media in diagnostic modalities, and increasing focus on developing more enhanced microbubble contrast agents are key factors fueling revenue growth of the segment.
- Based on application, the cardiovascular disorders segment is expected to account for significantly larger revenue share between 2021 and 2028. Factors such as high prevalence of various cardiovascular diseases, increasing geriatric population, availability of various contrast agents, and rising demand for latest cardiovascular imaging modalities are driving revenue growth of the segment.
- Based on end use, the diagnostic centers segment is expected to register highest revenue CAGR during the forecast period owing to high patient pool, increasing number of diagnostic centers globally, rising healthcare expenditure, and increasing adoption of latest diagnostic systems and equipment in diagnostic centers.
- The contrast media market in Europe is expected to register steady revenue growth over the forecast period owing to increasing prevalence of chronic illnesses, increasing geriatric population, high adoption of latest imaging modalities and contrast agents, and presence of well-developed healthcare facilities and infrastructure. Other factors such as increasing awareness about early detection, high number of road accidents, and increasing RD investments are fueling Europe market growth.
- Asia Pacific market revenue is expected to register rapid CAGR between 2021 and 2028 owing to high prevalence of chronic illnesses, increasing elderly population, and increasing cases of fractures, accidents, and spinal injuries. In addition, improving healthcare infrastructure, rising disposable incomes, increasing demand for latest imaging systems, increasing healthcare spending, and high focus on developing more enhanced contrast agents are fueling market growth in Asia Pacific.
- GE Healthcare, Bracco Imaging SPA, Bayer AG, Guerbet, Lantheus Medical Imaging, Inc., Unijules Life Sciences, J.B. Chemicals and Pharmaceuticals Ltd., Taejoon Pharmaceutical Co., Ltd., Jodas Expoim, Nano Therapeutics Pvt. Ltd., iMax Diagnostic Imaging Limited, Livealth Biopharma Pvt. Ltd., Trivitron Healthcare Pvt. Ltd., Novalek Pharmaceuticals Pvt. Ltd., Unispire Biopharma Private Limited, Congruent Pharmachem Private Limited, Stanex Drugs Chemicals Pvt. Ltd., Beijing Beilu Pharmaceutical Co., Ltd., and Subhra Pharma Pvt. Ltd. are some key players profiled in the global contrast media market report.
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For the purpose of this report, Reports and Data has segmented the global contrast media market on the basis of product type, modality, route of administration, application, end use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Iodinated
- Barium-based
- Gadolinium-based
- Microbubble
Modality Outlook (Revenue, USD Billion; 2018-2028)
- X-ray/CT
- MRI
- Ultrasound
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Intravascular Route
- Oral Route
- Rectal Route
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Cardiovascular Disorders
- Neurological Disorders
- Gastrointestinal Disorders
- Cancer
- Nephrological Disorders
- Musculoskeletal Disorders
- Others
End Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Diagnostic Centers
Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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