Market Summery
Market
Research Future (MRFR) predicts the Global Contrast
Media Market size is projected to grow USD 4.2 billion at a CAGR 4.01%
during the forecast period of 2023 – 2030. Contrast Media is a substance that enhances
the visibility of internal organs during radiography. Medical imaging plays a crucial role in
diagnosis of diseases, like GI disorders, cancer diagnosis, and cardiovascular
complications.
The World Health
Organization (WHO) reported that by 2020, three-quarters of global deaths will
be caused due to chronic diseases of which 71-75% of deaths will be due to cardiac
related problems. Early detection of such ailments can help provide patients
with better treatment. The increase in
prevalence of chronic disease and cancer patients necessitates better
diagnostic techniques provoking elevated use of contrast media. This is
expected to bolster the contrast media market in the forecast period.
Medical
imaging techniques like, computed tomography (CT) and magnetic resonance
imaging (MRI), extensively use contrast media for deriving images of internal
organs of a body. The increase in the number
of both public and private diagnostic centres availing such sophisticated
medical imaging techniques is another factor identified to propel the market
expansion. Owing to technical advancements, the burgeoning healthcare industry
is expected to largely influence the contrast media market.
For
example, in 2017, GE Healthcare received its FDA approval for
Visipaque™ (iodixanol) Injection, a imaging agent that can be used in coronary
CT angiography. Ascelia
Pharma, in 2018 announced that it will develop manganese-based
contrast media products, which would likely be a safer alternative to
gadolinium-based contrast media agents. Designing syringeless contrast media
injectors to improve the route of
administration of contrast media, for better patient compliance. Such medical
advancements are providing a platform for launching innovative products. MRFR
forecast that launch of new products can have a positive impact on the global
contrast media market growth in the near future.
Key players
Prominent companies in
the contrast media market are
AMAG Pharmaceuticals
(US)
Bracco Diagnostic Inc.
(Italy)
Lantheus Medical Imaging
(U.S.)
Covidien (Ireland)
Mallinckrodt
Pharmaceuticals (UK)
Targeson (US)
nanoPET Pharma GmbH
(Germany)
NanoScan Imaging (US)
Medrad Inc. (US)
Guerbet Group (France)
Subhra Pharma Private
Limited (India)
GE Healthcare (US)
CMC Contrast AB (Sweden)
Daiichi (Japan)
Bayer Healthcare
Pharmaceuticals (Germany)
Segmental Analysis
The segmental study of the Global Contrast Media Market gives a compendious market overview
that highlights key points of the market that benefits our clients to identify
growth opportunities of the market. The contrast media market study is
segmented into type, procedure, application, and route of application.
Based on the type, the market is segmented into
intravenous contrast materials, iodine-based contrast media agents, and others.
Based on the application, the market is segmented into
nephrological disorders, oncology, cardiovascular disorders, and others.
Based on the route of administration, the market is
segmented into injectable, rectal, and oral.
Regional Insights
MRFR’s
regional analysis of the Contrast Media Market gives a holistic approach
towards the demographic progress of the market in the forecast years. Based on
the region, the contrast media market is segmented into Asia Pacific, North America, Europe,
and the Rest-of-the-World (RoW).
North
America is expected to dominate the market, holding a significant market share
owing to its strong technological infrastructure. Increase in medical tourism,
rise in the number of cancer patients and patients suffering from chronic
disorders, and market players likely to deliver cost-competitive contrast media
products are factors which are predicted to fuel the regional market growth.
Robust
economic improvement, existence of influential market players, and
technological advancements in the European region can augment the regional
market proliferation.
The contrast media market in the Asia Pacific region,
led by the rapidly proliferating healthcare sector and developing economy, has
emerged as a promising market, globally. Increasing markets in countries, such
as Japan, China, and India, are pushing up the growth in the regional market.
Moreover, the APAC Contrast Media Market is driven by the rising population and
the spreading awareness towards the functionalities of contrast media.
The
rapidly growing healthcare industry and emerging economies like India, Japan,
and China in the Asia Pacific region, a huge population, and increase in
awareness towards benefits of contrast media are market dynamics expected to
drive the regional market growth.
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reports-
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About US:
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