The new report by Expert Market Research titled, ‘Global Contrast media/contrast Agent Market Share, Size, Growth, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the global contrast media/contrast agent market, assessing the market based on its segments like type, modality, indication, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 3.9%
North America accounts for a significant share in the global contrast media/contrast agent market. Also, players like GE Healthcare and Lantheus Medical Imaging, Inc. are based in the region and have a strong position in North American as well as the global marketplace. For instance, GE Healthcare accounts for around one-third market share in the global contrast media market. The market for contrast media is likely to be propelled by the increasing demand for diagnostic scanning and imaging technology. Also, the rising incidence of chronic diseases is contributing to the growth of the global contrast media/contrast agent market.
Contrast Media/Contrast Agent Industry Definition and Major Segments
Contrast media or contrast agents are chemical substances used in medical X-ray, magnetic resonance imaging (MRI), angiography, computed tomography (CT), and occasionally ultrasound imaging to obtain high-quality images. The use of contrast media or contrast agents provides a clearer image of how the body is working and helps to identify the presence of disease or abnormality.
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Based on type, the contrast media/contrast agent market is bifurcated as:
- Iodinated Contrast Media
- Gadolinium-based Contrast Media
- Microbubble Contrast Media
- Barium-based Contrast Media
Depending on modality, the market is segmented as:
- Magnetic Resonance Imaging
Market by indication include the following sub-segments:
- Cardiovascular Disorders
- Gastrointestinal Disorders
- Musculoskeletal Disorders
- Neurological Disorders
By end-use, the market is divided into:
- Hospitals, Clinics, and Ambulatory Surgery Centres
- Diagnostic Imaging Centres
The regional markets for contrast media/contrast agents are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Contrast Media/Contrast Agent Market Trends
The market is witnessing several innovations and research and development activities. For instance, in 2017, GE Healthcare launched Clariscan™, a gadolinium-based contrast agent (GBCA) in Europe. Furthermore, in 2018, Guerbet launched Contrast&Care® 2.0, the new version of its digital solutions that manage the injection of contrast agents for medical imaging centres. Such innovations are supporting the growth of the contrast media/contrast agent market.
Key Market Players
The major players in the market are GE Healthcare, Bracco Imaging S.P.A, Bayer AG, Guerbet, and Nano Therapeutics Pvt. Ltd.. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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