Contrast Media Market offers huge growth opportunities for the future

Contrast Media Industry Overview

The global contrast media market size is anticipated to reach USD 7.57 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.33% from 2022 to 2030. The rising prevalence of chronic diseases is fueling the demand for diagnostic imaging treatments, which is propelling the market forward. Imaging studies, such as Magnetic Resonance Imaging (MRI), have become an important aspect of most disease diagnoses, and the widespread use of imaging technologies in healthcare has boosted the demand for contrast media globally.

 

Contrast Media Market Segmentation

Grand View Research has segmented the global contrast media market based on modality, product type, application, and region:

 

Based on the Modality Insights, the market is segmented into X-ray/CT, MRI and Ultrasound.

• Based on modality, the X-ray/CT segment held the largest market in 2021 with around 69.53%. X-ray/CT contrast agents help produce high-resolution 3D images of structures.
• The ultrasound segment is anticipated to witness the fastest growth rate over the forecast period. Contrast agents for ultrasound imaging have been developed for visualization of microcirculation in tissue.

 

Based on the Product Type Insights, the market is segmented into Iodinated, Barium-based, Gadolinium-based and Microbubble.

• The iodinated contrast media segment held the largest market in 2021 with around 66.61%, which can be attributed to the high penetration of X-ray and CT procedures as well as the availability of nonionic stable iodinated agents for improved diagnosis.
• The microbubble contrast media segment is anticipated to witness the fastest growth rate over the forecast period. Microbubble contrast media are minute bubbles of an injectable gas. They are most often administered for ultrasound imaging of the heart. Contrast agents for ultrasound imaging have been developed for the visualization of micro-circulation in tissue.
• Moreover, ultrasonography is preferred in pediatric patients as it requires lower ionizing radiation and is a well-known modality for diagnoses of several diseases, such as heart, liver, and kidney

Based on the Application Insights, the market is segmented into Cardiovascular Disorders, Neurological Disorders, Gastrointestinal Disorders, Cancer, Nephrological Disorders, Musculoskeletal Disorders, and Others.

• The neurological disorder segment held the largest market share in 2021 with around 29.45%. Diagnostic evaluation of CNS for neurological disorders boosts the adoption of MRI contrast media, as they provide better images of neural structures than computed tomography (CT).
• Gadolinium-based contrast agents are used in one in three MRIs to enhance image clarity, which improves diagnostic accuracy by enhancing the visibility of blood vessels, inflammation, and tumors. Gadavist, Dotarem, and Prohance are the most widely used macrocyclic gadolinium-based contrast agents used in the diagnosis of neurological disorders in the U.S.
• The cardiovascular disorders segment is anticipated to witness the fastest growth rate over the forecast period. Contrast-enhanced ultrasound imaging of the cardiovascular system or echocardiography is the most widely used modality for imaging of the cardiovascular system in adult and pediatric patients.

 

Contrast Media Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

Key Companies Profile & Market Share Insights

Key players are involved in adopting strategies such as acquisitions & mergers, partnerships, and launching new products to strengthen their foothold in the contrast media market.

Key players are entering into mergers & acquisitions to increase their market share and customer base across the globe. For instance, in December 2021, the previously announced GE Healthcare acquisition of BK Medical has been finalized.

Some prominent players in the global contrast media market include:

• Bayer AG
• General Electric Company
• Guerbet
• Bracco Diagnostic, Inc.
• Nano Therapeutics Pvt. Ltd.
• Lantheus Medical Imaging, Inc.
• iMax
• Trivitron Healthcare

 

Order a free sample PDF of the Contrast Media Market Intelligence Study, published by Grand View Research.