The report of the global contrast media market by Type (Intravenous contrast materials, Iodine-based contrast media agents, Others), Application (Nephrological disorders, Oncology, Cardiovascular disorders, Others), Administration (Injectable, Rectal, Oral), Indication (Cardiovascular Disorders, Oncology, Gastrointestinal Disorders, Musculoskeletal Disorders, Neurological Disorders, Nephrological Disorders), Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Bn by 2027, at a CAGR of 4.4% during a forecast period.
Growth in the market can primarily be attributed to factors such as the increasing number of approvals for contrast agents and the rising volume of CT and MRI examinations globally. The growing number of research & funding activities for contrast agents and their applications provide immense opportunities for players in the contrast media market.
However, with economies undergoing medical modifications affecting the sales of contrast agents and commercial slowdowns are some factors hampering the growth of the market.
The Iodinated contrast media segment is expected to grow at the highest CAGR of XX% during the forecast period.
Iodinated contrast media are the most commonly used injectable in radiology nowadays. Modern iodinated contrast agents can be used nearly anywhere in the body. Most frequently they are used intravenously but can be administered intra-arterial, intrathecally, and intraabdominal. They are generally safe, and adverse effects are normally mild and self-limiting. However, severe or life-threatening reactions can occur. The rapid development of percutaneous coronary and peripheral vascular interventional technologies, along with non-invasive computed tomography (CT)-based imaging systems, has led to an intense upsurge in the number of patients getting intravenous or intra-arterial contrast media (CM). It has been estimated that more than 80 Mn doses (8Mn liters) of contrast material are administered worldwide each year.
North America dominated the Global Contrast Media Market in 2019.
North America is anticipated to dominate the global contrast media market owing to the, technologically advanced infrastructure, upsurge in health care investment, and robust R&D in countries in the regions are the other factors thrusting the market.
The market in the Asia Pacific is developing at a rapid apace. Developed countries like Japan are favourable for the growth of the market. India and China are the potential markets for contrast media owing to the upsurge in population, and the upsurge in installations of capital equipment.
The key players operating in the global contrast media market are GE Healthcare, Bracco Imaging S.P.A., Bayer AG, Guerbet Group, Lantheus Medical Imaging, Inc., Daiichi Sankyo, Unijules Life Sciences, J.B. Chemicals and Pharmaceuticals Ltd., Sanochemia, Magnus Health, Taejoon Pharm, Jodas Expoim, Nano Therapeutics Pvt. Ltd., Kiran X-Ray, Interpharma Praha A.S., Imax Diagnostic Imaging Limited, Yangtze River Pharmaceutical Group (YRPG), Spago Nanomedical AB, Subhra Pharma Pvt. Ltd., M. Biotech Limited.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Contrast Media Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Contrast Media Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Contrast Media Market positioning of competitors.
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