Contrast Media Market Size, Share, And Growth Report 2032

Contrast Media Market Size

The global Contrast Media market size was worth around USD 6.31 billion in 2023 and is predicted to grow to around USD 7.87 billion by 2032 with a compound annual growth rate (CAGR) of roughly 2.48% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Contrast Media market on a global and regional level.

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Contrast Media Market: Overview

Contrast media, also known as contrast agents, are used to improve blood and tissue perfusion. This includes computed tomography (CT) based contrast based on iodine, MRI-based agents based on gadolinium, and ultrasound-used lipid bubble contrast agents. Contrast agents absorb or modify external electromagnetism or ultrasound that is distinct from radiopharmaceuticals that themselves emit radiation. Forx-rays, and contrast agents in a target tissue or structure improve radiodensity. In MRIs, contrast agents shorten (or in some cases increase) the duration of nuclei relaxation inside body tissues to adjust the contrast in the picture.

The growing need, as well as demand, for image refinement during surgery requires unique methods of data acquisition, processing, and display, as well as a full understanding of the imaging process and its therapy applications. This need is well served by image-guided procedures, resulting in increased demand for image-guided diagnostic and treatment procedures, and thus acting as a market growth factor.

The study includes drivers and restraints for the Contrast Media market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Contrast Media market on a global level. In order to give the users of this report a comprehensive view of the Contrast Media market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Type, Modality, application, route of administration, end user, and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

Contrast Media Market: Segmentation

The study provides a decisive view of the Contrast Media market by segmenting the market based on Type, Modality, end user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025.

Based on Type, the market is segmented into Barium-based Contrast Media, Iodinated Contrast Media, Gadolinium-based Contrast Media, and Microbubble Contrast Media. It is projected that the iodine contrast media segment will dominate the largest share of the contrast media market in 2023. Due to its heavy use in CT tests, coupled with the fact that it can be used in almost all body parts, the high proportion of this section can be attributed.

Based on Modality, the market is segmented into X-ray/Computed Tomography (CT), Magnetic Resonance Imaging (MRI), and Ultrasound. It is expected that X-ray / CT procedures will command the largest share of the global media contrast market in 2023. However, the segment of ultrasound is expected to grow at the highest CAGR. Ultrasound segment growth can be largely owing to several benefits offered by ultrasound contrast agents over other contrast agents and the growing number of sanctions for ultrasound contrast agents in Japan, Europe, and the U.S.

Based on route of administration, the market is segmented into Oral, Intravascular, Rectal, and Other Routes. In 2018, the segment of the intravascular route is projected to dominate the largest share of the contrast media market. It is also expected that this segment will grow at the highest CAGR. Growth in this segment can be attributed largely to advances in CT and MRI imaging technologies that mainly use the intravascular pathway to inject contrast media.

Based on Indication, the contrast media market is classified into Cardiovascular Disorders, Cancer, Gastrointestinal Disorders, Musculoskeletal Disorders, Neurological Disorders, Nephrological Disorders, and Others. In the forecast period, the category of cardiovascular disorders is projected to dominate the largest share and the highest growth rate. Some of the factors driving this segment are developments in cardiac MRI procedures in cath-laboratories, beneficial reimbursement policies used for cardiovascular diagnosis contrast media, and strong healthcare infrastructure in developed countries.

Based on the application segment, the market is bifurcated into radiology, interventional radiology, interventional cardiology, and others. It is anticipated that the radiology segment will dominate the largest share of the global media contrast market in 2023. Nonetheless, the segment of interventional cardiology is expected to grow at the fastest CAGR. Growth in the cardiology intervention segment can be largely attributed to factors such as increased demand for minimally invasive operations worldwide and increased cardiovascular disease burden.

Contrast Media Market: Report Scope

Contrast Media Market: Regional Analysis

The geographical segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The major share of the global contrast media market is expected to be the North American market. It is expected that the Asia Pacific market will grow in the prediction period at the highest CAGR. This rise can be attributed to growing investment in R&D and a positive demographic scenario in China.

Contrast Media Market: Competitive Players

Key players within the global Contrast Media market include:

• Bayer HealthCare
• Bracco Imaging
• Daiichi Sankyo
• GE Healthcare
• Guerbet
• J.B. Chemicals and Pharmaceuticals
• Lantheus
• Spago Nanomedicine
• Taejoon Pharm
• Unijules Life Sciences

The Global Contrast Media Market is segmented as follows:

Global Contrast Media Market: Type Segment Analysis

• Barium-based Contrast Media
• Iodinated Contrast Media
• Gadolinium-based Contrast Media
• Microbubble Contrast Media

Global Contrast Media Market: Modality Segment Analysis

• X-ray/Computed Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Ultrasound

Global Contrast Media Market: Route of Administration Segment Analysis

• Oral
• Intravascular
• Rectal
• Other Routes

Global Contrast Media Market: Indication Segment Analysis

• Cardiovascular Disorders
• Cancer
• Gastrointestinal Disorders
• Musculoskeletal Disorders
• Neurological Disorders
• Nephrological Disorders
• Others

Global Contrast Media Market: Application Segment Analysis

• Radiology
• Interventional Radiology
• Interventional Cardiology
• Others

Global Contrast Media Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa