Contrast Media/Contrast Agent Market - Forecast(2022 - 2027)

Report Code: HCR 0522 Report Format: PDF + Excel

Contrast Media/Contrast Agents Market Overview

The Contrast Media/Contrast Agents Market size is estimated to reach $5,871.2 million by 2027. Furthermore, it is poised to grow at a CAGR of 4.2% over the forecast period of 2022-2027. Internal body images obtained during an ultrasound, X-ray, MRI, and CT scans benefit from contrast media/contrast agents. It aids radiologists in determining the difference between aberrant and normal tissues. The opacity of the X-ray region of the electromagnetic spectrum is known as radiodensity. Contrast media/agent momentarily alters the way medical imaging equipment interact with the body and aid in distinguishing certain parts of the body from surrounding tissue. It helps to make blood arteries, specific tissues, and organs more visible. The rising prevalence of chronic diseases & gastrointestinal tract in the U.S. and Canada, as well as rising market advancements, are driving the expansion of Contrast Media Agents in the healthcare market. Furthermore, due to an increase in medical tourism, which increases demand for radiopharmaceuticals across the country, the market for contrast media agents in Mexico is expected to grow significantly. After the pandemic, the market for Contrast Media/Contrast Agent in healthcare is likely to rise significantly. Due to lockdowns, travel bans, and business shutdowns, COVID-19 has impacted economies and businesses in a number of countries. Many countries' public health systems have been overburdened as a result of the COVID-19 crisis, highlighting the critical need for long-term investment in health systems. As the COVID-19 epidemic spreads, the healthcare industry's growth is projected to slow. The life sciences industry is booming, thanks to the rising demand for in vitro diagnostic products and increased research and development efforts around the world. However, sales in the medical technology and imaging industry are declining as a result of fewer procedures being performed and equipment procurement being delayed or postponed.

Contrast Media/Contrast Agents Market Report Coverage

The report: “Contrast Media/Contrast Agents Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Contrast Media/Contrast Agents Industry.

By Media/Agent Type - Iodinated Contrast Media, Gadolinium-based Contrast Media, Micro bubble Contrast Media, Barium-based Contrast Media and Others.
By Medical Procedure - X-ray, Computed Tomography, Magnetic Resonance Imaging, Ultrasound, Catheterization Laboratory and Others.
By Indication - Cardiovascular Disorders, Cancer, Gastrointestinal Disorders, Musculoskeletal Disorders, Neurological Disorders, Nephrological Disorders and Others.
By Route of Administration - Oral Contrast Media, Injectable Contrast Media, Intravenous, Intra-arterial (Ia), Rectal Contrast Media and Urethral Contrast Media.
By Application Radiology, Interventional Radiology and Interventional Cardiology.
By End Users Hospital, Clinics, Ambulatory Surgery Centers, Diagnostic and Imaging Centers and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

  • Geographically, the North America segment will dominate the market pertaining to the Increasing technological breakthroughs in diagnostic imaging systems, rising healthcare spending, and growing penetration of various chronic diseases globally are all driving global market revenue growth.
  • During the forecast period 2022-2027, the market is also expanding as a result of rising demand for discovering geriatric disorders and rising prevalence of chronic diseases.
  • A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Contrast Media/Contrast Agents Market Report.

Contrast Media/Contrast Agents Market - Geography (%) for 2021

Contrast Media/Contrast Agents Market

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Contrast Media/Contrast Agents Market Segmentation Analysis- By Media/Agent Type

The Contrast Media/Contrast Agents market based on media/agent type can be further segmented into Iodinated Contrast Media, Gadolinium-based Contrast Media, and Micro bubble Contrast Media, Barium-based Contrast Media and Others. In 2021, the iodinated contrast media sector held the greatest market share. Iodinated contrast medium is a type of intravenous radio contrast (radiographic dye) that contains iodine and helps to make vascular systems and organs more visible during radiographic operations. The iodinated contrast has aided in the improvement of visibility in diseases such as cancer diagnosis. The chemical changes of the 2, 4, 6 tri-iodinated benzene ring is used in the current iodinated contrast media. The fact that iodine-based contrast media have high radio-opacity and are less toxic than other agents contributes to the expansion. Iodinated contrast media is used in almost all radiological exams that use injectable contrast media.

However, the micro bubble contrast media segment is projected to expand at the fastest rate of 4.3% from 2022 to 2027, owing to rising product demand. Micro bubble contrast media are very small (smaller than a red blood cell) and have the ability to reflect ultrasound waves for a high degree of echogenicity. Furthermore, contrast-enhanced ultrasonography is a low-cost method of improving blood flow imaging without the use of radiation. Patients with kidney problems or allergies to CT or MRI can benefit from it.

Contrast Media/Contrast Agents Market Segmentation Analysis- By Indication

The Contrast Media/Contrast Agents market based on indication industry can be further segmented into Cardiovascular Disorders, Cancer, Gastrointestinal Disorders, Musculoskeletal Disorders, Neurological Disorders, Nephrological Disorders and Others. Cardiovascular disorders had the largest market share and the fastest rate of increase. The growing geriatric population and the rising prevalence of CVD around the world account for a substantial part of this market. Increasing need for image-guided treatments and diagnostics, rising prevalence and mortality of cardiac disorders, and technological improvements in the medical imaging industry are all contributing to the market's growth.

During the projection period 2022-2027, the cancer category is estimated to rise at the highest rate over the projection period at a CAGR of 4.7%, owing to the growing demand for diagnostics as the disease's prevalence rises. In developed countries, colorectal cancer is the second leading cause of cancer-related death. Colorectal cancer is diagnosed using a variety of imaging modalities, including optical colonoscopy and computed tomography colonography (CTC).

Contrast Media/Contrast Agents Market Segmentation Analysis- By Geography

The Contrast Media/Contrast Agents market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. In 2021, North America generated the most revenue, accounting for more than 40.0 percent of total revenue, and is expected to continue to do so throughout the projection period. This supremacy is due to the presence of well-established healthcare facilities, the availability of advanced technology in combination, and the demand for diagnostic procedures. The first gadolinium-based contrast agent was approved in the U. S., and the industry has since been on a mission to create more efficient, accurate, and safe agents. In the future years, sales of contrast media are likely to rise in the U.S. As a result, sales of contrast media for ultrasound may see a significant increase. In North America, the U.S. is the largest consumer market for contrast media.

Contrast Media/Contrast Agents Market Drivers

The market value of contrast media/contrast agents is being driven by the rising pervasiveness of contrast agents.

As the global frequency of chronic diseases rises, so does the demand for diagnostic imaging procedures and, as a result, contrast media. Owing to the growing demand for imaging operations, contrast media manufacturers have invested much in R&D in order to bring new products to market and gain approval for new indications. Bracco, for example, got FDA approval for the 20-vial pack design of Lumason, an ultrasound contrast agent, in 2021. The market would be boosted by increasing technical developments in prenatal genetic screening.

In general, the demand for contrast test agents is becoming much more intense which is driving the market.

The growing number of ultrasound, MRI, and CT exams, as well as strengthening healthcare infrastructure by hospitals and diagnostic centers, are likely to fuel market expansion. Due to the patent expiration of branded contrast media products, competition in the contrast media industry is projected to heat up significantly. This will allow generic analogs, which are less expensive than commercially available branded agents, to enter the market. APIs are created locally in underdeveloped nations, which lowers the overall cost of creating contrast agents. The increasing number of technicians in this field will drive market growth. According to the US Bureau of Labor Statistics, radiology technicians may witness employment growth of about 7% between 2019 and 2029. As a result, the patent expiration of a number of branded pharmaceuticals, as well as lower production costs for contrast agents, are likely to present profitable prospects for generic players.

Contrast Media/Contrast Agents Market Challenges

High costs of the Contrast media devices are to limit the market growth.

For low-osmolar contrast media, moderate-to-severe immediate ADRs accounted for additional costs of €1524.2 and €5781.3, respectively hindering the market growth. During the forecast period of 2022 and 2027, the high cost of contrast media injectors, the mild and negative side effects associated with contrast media, and a shortage of experienced specialists to run the latest imaging equipment are likely to stymie worldwide market growth. Furthermore, the lack of advanced diagnostic methods in many developing nations is projected to limit the demand for contrast media in the future. However, rising investments by various public and private entities, as well as increased attention on producing cost-effective contrast media, are projected to drive market expansion in the future.

Contrast Media/Contrast Agents Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Contrast Media/Contrast Agents Market. The top 10 Contrast Media/Contrast Agents Market companies’ are-

  1. Bayer AG
  2. General Electric Company
  3. Guerbet
  4. Bracco Diagnostic Inc.
  5. Nano Therapeutics Pvt Ltd.
  6. Lantheus Medical Imaging Inc.
  7. iMax
  8. Trivitron Healthcare
  9. JB Chemicals and Pharmaceuticals Ltd.
  10. Unijules Life Sciences Ltd.

Recent Developments

  • In December 2020, Bracco Imaging SpA received approval from the US FDA for its product ProHance, which is an MRI contrast agent for use in neonates and pediatric patients under two years of age.
  • In March 2020, GE Healthcare Pharma Limited acquired the ownership of Daiichi Sankyo’s four diagnostic agents in Japan. Under the terms of the agreement, Daiichi Sankyo, which has collaborated with GE Healthcare for over 30 years, is to continue the distribution of products to drug wholesalers until March 2022, ensuring supply and delivery to medical facilities is unchanged.
  • In November 2019, Guerbet partnered with InterSystems to optimize the combination of contrast media injection management solutions into IT systems of hospitals and medical imaging centers.

Relevant Titles

Report Code: HCR 0378

Report Code: CMR 0597

Report Code: CMR 0503

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1. Contrast Media/Contrast Agents Market Overview
    1.1 Definitions and Scope
2. Contrast Media/Contrast Agents Market Executive Summary
3. Contrast Media/Contrast Agents Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Company Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Contrast Media/Contrast Agents Market - Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Contrast Media/Contrast Agents Market - Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Contrast Media/Contrast Agents Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Contrast Media/Contrast Agents Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Contrast Media/Contrast Agents Market- By Media/Agent Type (Market Size -$Million/$Billion)
    8.1 Iodinated Contrast Media
    8.2 Gadolinium-based Contrast Media
    8.3 Micro bubble Contrast Media
    8.4 Barium-based Contrast Media
    8.5 Others
9. Contrast Media/Contrast Agents Market- By Medical Procedure (Market Size -$Million/$Billion)
    9.1 X-ray
    9.2 computed tomography
    9.3 magnetic resonance imaging
    9.4 ultrasound
    9.5 Catheterization laboratory
    9.6 Others
10. Contrast Media/Contrast Agents Market- By Indication (Market Size -$Million/$Billion)
    10.1 Cardiovascular Disorders
    10.2 Cancer
    10.3 Gastrointestinal Disorders
    10.4 Musculoskeletal Disorders
    10.5 Neurological Disorders
    10.6 Nephrological Disorders
    10.7 Others
11. Contrast Media/Contrast Agents Market- By Route of Administration (Market Size -$Million/$Billion)
    11.1 Oral Contrast Media
    11.2 Injectable Contrast Media
    11.3 Intravenous (Iv)
    11.4 Intra-arterial (Ia)
    11.5 Rectal Contrast Media
    11.6 Urethral Contrast Media
12. Contrast Media/Contrast Agents Market- By Application (Market Size -$Million/$Billion)
    12.1 Radiology
    12.2 Interventional Radiology
    12.3 Interventional Cardiology
13. Contrast Media/Contrast Agents Market- By End Users (Market Size -$Million/$Billion)
    13.1 Hospital
    13.2 Clinics
    13.3 Ambulatory Surgery Centers
    13.4 Diagnostic and Imaging Centers
    13.5 Others
14. Contrast Media/Contrast Agents Market- By Geography (Market Size -$Million/$Billion)
    14.1 North America
        14.1.1 U.S.
        14.1.2 Canada
        14.1.3 Mexico
    14.2 Europe
        14.2.1 U.K.
        14.2.2 Germany
        14.2.3 Italy
        14.2.4 France
        14.2.5 Spain
        14.2.6 Russia
        14.2.7 Rest of Europe
    14.3 Asia-Pacific
        14.3.1 China
        14.3.2 Australia
        14.3.3 Japan
        14.3.4 South Korea
        14.3.5 India
        14.3.6 Rest of Asia-Pacific
    14.4 South America
        14.4.1 Brazil
        14.4.2 Argentina
        14.4.3 Chile
        14.4.4 Argentina
        14.4.5 Others
    14.5 Rest of the World
        14.5.1 Middle East
        14.5.2 Africa
15. Contrast Media/Contrast Agents Market Entropy
16. Contrast Media/Contrast Agents Market- Industry/Segment Competition landscape Premium Premium
    16.1 Market Share Analysis
        16.1.1 Market Share by Country- Key companies
        16.1.2 Market Share by Region- Key companies
        16.1.3 Market Share at Global Level- Key companies
    16.2 Competition Matrix
    16.3 Best Practices for Companies
17. Contrast Media/Contrast Agents Market- Key Company List by Country Premium Premium
18. Contrast Media/Contrast Agents Market Company Analysis
    18.1 Company 1
    18.2 Company 2
    18.3 Company 3
    18.4 Company 4
    18.5 Company 5
    18.6 Company 6
    18.7 Company 7
    18.8 Company 8
    18.9 Company 9
    18.10 Company 10
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