In 2018, the Contrast Media Market was estimated to increase at USD 4.96 Billion. Further, the global market is expected to generate a 3.5% CAGR for the forecast period of 2025. Contrast media are extensively used to distinguish normal conditions from the abnormal conditions of the patients. Contrast media are also known as contrast agents. Before imaging the examination, the contrast agents are used as the chemical components that are introduced into the patient’s body to understand the health condition.
The global contrast media in radiology market has been segregated into procedures, type, form, route of administration, and application. If looking into the various regions of the global market, it has segmented into different countries. The American region of the Contrast Media Market has been further divided into Latin America and North America. Moreover, the Contrast Media Industry of North America has further sub-segmented into Canada and the US. The market of the European region has been classified into Eastern Europe and Western Europe. Moreover, Western Europe has been further sub-divided as the UK, Germany, France, Spain, Italy, and the rest of Western Europe. Along with that, the Contrast Media Market of the Asia-Pacific region has been classified into India, Japan, China, Australia, Latin Korea, and the rest of Asia-Pacific. Further, the Middle East & African region of the global market has been divided into the Middle East and African countries.
The MRI contrast agents market report highlighted the recent growth and developments of the global market. Recently, in November 2019, the Food and Drug Administration (FDA) of the US has approved GE Healthcare for intravenous use with the gadolinium macrocyclic-based and Clariscan (adulterate meglumine) anionic contrast agent injection. In addition, in September 2019, the Medrad Stellant Flex CT injection system was introduced by Bayer AG to manage contrast dose. Along with that, the products demands are increasing due to the purchasing power of the intended audience. These intended audiences are Hospitals and diagnostic centers, ambulatory surgery centers, medical device manufacturing companies, Academic centers, distributors and suppliers of medical devices, and Venture capitalists.
COVID-19 Impact Analysis
The global COIVID-19 has impacted the global Contrast Media Market due to the global lockdown in different regions. The people avoided visiting the health sectors for medical imaging, which has reduced the demand for the global market.
But the continuous efforts of the global key players have lifted the demands for the global market in the pandemic situation.
The growing prevalence of cardiac disease, accidental cases, and cancer are increasing the requirements for medical imaging. This medical imaging is used especially to examine different stages of treatment for the patient. Hence, the increasing use of medical imaging is increasing the demand for the global Contrast Media Market and driving the growth of the global market.
Moreover, the key players are giving more focus on the growth driving factors to develop the products.
The demand for the global Market is increasing due to the different diagnostic imaging modalities, and improved diagnostic imaging services demand among the audiences, which is bringing lucrative opportunities for the global market.
Moreover, the marketing companies of the global Contrast Media Industry are introducing new advanced technologies and quality products with advanced features. This can bring more opportunities for the global market.
The major factors like side effects, allergic reactions, or adverse reactions such as diarrhea, stomach cramps, nausea, constipation, and vomiting might hamper the growth of the global Contrast Media Industry.
Hence, the global market is employing professional manufacturers to look into these major restraints.
The global Contrast Media Industry might face challenges due to the rising cost and side effects.
Hence, the global key players are working on these emerging challenges to combat this in a very short period.
If looking into the 2018 report, the global contrast media market has generated a higher contrast media market size, and further, it has aimed to achieve its goal of increasing more market size for the forecast period.
The regions like North America, European regions are contributing higher to the global Contrast Media Market, which shows the increasing regional growth will bring more opportunities for the global key players of the market.
On the basis of type segment, the types of contrast media are gadolinium-based contrast media, iodinated contrast media, barium-based contrast media, and microbubble contrast media.
The different types of contrast media are having a different role in the contrast media market.
The global Market has been classified into liquid, tablet, powder, and paste based on the form segment.
These all forms are preferred by the intended audiences according to the requirements of the products.
They discussed important procedures that are increasing the demands for the global Contrast Media Industry.
On the basis of application segment, the Market has been classified into oncology, cardiovascular disease, neurological disorders, gastrointestinal disorders, and other indications.
Hence, the contrast media manufacturers are getting more opportunities with the increasing applications.
On the basis of route of administration segment, the Market has been classified into injectable, rectal, and oral.
Among these, the injectable route of administration is aimed to grow the global Contrast Media Industry.
The radiographic contrast media market has been divided into various regions such as the Americas, the Middle East & Africa, Europe, and Asia-Pacific. Among these, the American region is expected to rule the global contrast agents market due to the growing preferences for the diagnosis of people suffering and various health conditions like intestinal diseases, spinal injury, brain problems, cancer, and other diseases. Moreover, the growing demands for medical imaging are bringing scope for the global contrast media/contrast agent market.
The European region is predicted to register the Contrast Media Market in the second-largest position. This region is growing the product demands due to the growing healthcare expenditure, the presence of more medical device companies in the region, and the increasing economy of the region. Apart from that, the Asia-Pacific region is estimated to be the contrast agents market’s fastest-growing region due to the growing fractures, spinal problems, and health issues among the geriatric population. Here, it shows that the increasing patient pool is growing the medical imaging demands among the population and enhancing the global market growth in the region. Further, the Middle East & African region is predicted to generate very little of the market shares. However, this region might drive the growth of the Contrast Media Market for the upcoming years due to the increasing number of hospitals, diagnostic centers, and clinics in the region.
Source: Centers for Disease Control and Prevention (CDC), Eurostat, White Papers, Company Presentations, and Annual Reports
The Contrast Media Market has significant major players across various parts of the countries. These significant key players are:
These contrast media companies are the pillar of the global contrast media market. These key players are creating better outcomes by implying different marketing strategies and methods.
The contrast media injectors market report is comprised of both qualitative and quantitative analysis to understand the performance of the Contrast Media Industry. Here, the report has given the focus on the market revenue, market size, and market value to understand the present growth aspects of the global market. Along with that, the report has also given an overview of the COVID-19 situation to understand the positive and negative impact of the pandemic on the global market.
Further, the report has given emphasis on the market segmentation, market overview, and market dynamics to explain the details of the current challenges, restraints, competitions, and growth of the global Contrast Media Industry.
|Market Size||Significant Value|
|CAGR||3.5% CAGR (2019-2025)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Form, Procedures, Application and Route of Administration,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||DAIICHI (Japan), NANOSCAN IMAGING (US), Bayer AG (Germany), Bracco Diagnostic Inc. (US), GE Healthcare (US), Guerbet Group (France), Jodas Expoim (India), Lantheus Medical Imaging Inc. (US), Magnus Health (US), Spago Nanomedical AB (Germany), and Taejoon Pharm (Korea)|
|Key Market Opportunities||Demand for improved diagnostic imaging services and various diagnostic imaging modalities are creating substantial market demand.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global contrast media market had reached to a valuation of USD 4.96 BN in 2018.
The global contrast media market is estimated to grow at 3.5% CAGR during the forecast period (2017-2023).
Increasing prevalence of chronic diseases and accident cases,
North America holds the largest share in the global contrast media market followed by Europe and Asia Pacific, respectively.
Daiichi (Japan), GE Healthcare (US), Bayer Healthcare Pharmaceuticals (Germany), NanoScan Imaging (US), AMAG Pharmaceuticals (US), Medrad Inc. (US), Guerbet (Japan), Targeson (US), Bracco Diagnostic Inc. (Italy), Covidien (Ireland), Guerbet Group (France), Lantheus Medical Imaging (U.S.), Subhra Pharma Private Limited (India), Bracco Imaging S.p.A. (Italy), nanoPET Pharma GmbH (Germany), Mallinckrodt Pharmaceuticals (UK), and CMC Contrast AB (Sweden), are some of the major players operating in the global contrast media market.