The increasing prevalence of various diseases leading to diagnostic tests, rising approvals to contrast agents by different healthcare setups and presence of various key players in the market is expected to drive the market widely.
Market Size – USD 4.93 Billion in 2019, Market Growth – CAGR of 3.6%, Market Trends– A huge ongoing research in the contrast media is leading to various new innovative products in the market.
According to Reports and Data, the Contrast Media market was valued at USD 4.93 billion in 2019 and is expected to reach USD 6.56 billion by the year 2027, at a CAGR of 3.6%. Contrast agent or contrast media allows to increase the contrast of structures or fluids within the body while conducting a medical imaging process through absorbing or altering external electromagnetism or ultrasound, which is different from radiopharmaceuticals, which emit radiation themselves. The rising prevalence of various chronic diseases, including cancer and cardiovascular diseases, is expected to drive the market widely. According to the estimates given by the World Health Organization (WHO), chronic diseases will account for three-quarters of global deaths and that 71% to 75% of deaths will be caused by heart diseases by 2020. Such conditions require various diagnostic imaging tests that guide the physicians to decide about the requirements of surgical interventions. Different diagnostic imaging methods, including ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), etc. can be used to determine and diagnose diseases. Additionally, rising research activities on contrast agents & their applications, and increasing volume of CT and MRI are the key areas of opportunity in this market. The market is expected to witness the surge in demand due to the increased product launches. For instance, in November 2019, GE Healthcare received a USFDA approval for their contrast agent Clariscan, used for Macrocyclic MRI. The injection is used intravenously and is used for MRI in brain, spine and associated tissues. Also, in 2017, GE Healthcare (US) launched a new Macrocyclic MRI contrast agent, Clariscan, in Europe. The role of these products in tests such as MRI which further helps identifying the need for treatment/ surgeries in interventional procedures and perioperative scans before surgeries will contribute significantly to the market growth.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Bayer AG, General Electric Company, Guerbet, Lantheus Medical Imaging, Inc., Bracco Diagnostic, Inc., Trivitron Healthcare, Nano Therapeutics Pvt. Ltd., and iMAX.
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The Contrast Media market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
By Product Outlook (Revenue in Million USD; 2017–2027)
- High osmolality contrast media
- Low osmolality contrast media
By Modality Outlook (Revenue in Million USD; 2017–2027)
By Application Outlook (Revenue in Million USD; 2017–2027)
- Cardiovascular Disorders
- Neurological Disorders
- Gastrointestinal Disorders
- Nephrological Disorders
- Musculoskeletal Disorders
Key Regions Analyzed in the Report include:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the Contrast Media market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Key Benefits of the Report:
- Comprehensive overview of the changing dynamics of competitive landscape
- Detail oriented futuristic prospects of factors driving and restraining growth of the market
- Valuable insights on key market growth driving trends and monetary competence in the forecast period
- Strategic recommendations to key players and new entrants to overcome barriers and challenges in the market
- Revenue forecasts for the period of 2021-2027
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