The report "Contrast Media Market by Type (Iodinated Contrast Media), Modality (X-Ray/CT, MRI, and Ultrasound), Application (Radiology), End User (Hospitals), Indication (Cancer), Route of Administration (Oral), Region - Global Forecast to 2027", is projected to USD 6.1 billion by 2027 from USD 5.1 billion in 2022, at a CAGR of 3.7% during the forecast period. Market is driven by factors such as rising number of contrast agents getting approvals with increasing number of diagnostic centers and hospitals across the globe. Rising number of research studies on contrast agent is anticipated to propel market growth opportunities. However, dearth of skilled professionals dealing with contrast media and recent withdrawal of gadolinion-baed contrast media is anticipated to hinder market development.
Browse 328 market data Tables and 39 Figures spread through 299 Pages and in-depth TOC on "Contrast Media/Contrast Agent Market by Type (Iodinated Contrast Media), Modality (X-Ray/CT, MRI, and Ultrasound), Application (Radiology), End User (Hospitals), Indication (Cancer), Route of Administration (Oral), Region - Global Forecast to 2027"
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The microbubble contrast media segment is expected to grow at the highest CAGR during the forecast period and iodinated contrast media accounted for the largest share in 2020.
Based on type, the contrast media/ contrast agents market is segmented into iodinated contrast media, gadolinium-based contrast media, microbubble contrast media, and barum-based contrast media. Iodinated contrast media account for the largest share of the contrast media/ contrast agents market. The large share of this segment can be attributed to the growing number of angioplasty procedures performed globally.
Iodinated contrast media in type segment to hold the highest market share during the forecast period
Based on the Product, the amniotic product is classified into barium-based contrast media, iodinated contrast media, gadolinium-based contrast media, and microbubble contrast media. The iodinated, segment is expected to dominate because of the high usage of iodinated contrast media in CT examinations and the fact that they can be used in almost all body parts.
North America was the largest regional market for the contrast media/ contrast agents market in 2020
The contrast media/ contrast agents market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa (MEA). North America was the largest regional market for contrast media/ contrast agents market in 2020. The large share of the North American market can be attributed to presence of major players in the region, high prevalence of chronic disorders, growing geriatric population, and the increasing adoption of minimally invasive procedures.
However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The rising prevalence of chronic diseases, the growing demand for quality medical care, increasing healthcare spending and government initiatives, rising disposable income, growth in the medical device industries, and improvements in healthcare infrastructure in Southeast Asian countries are the major factors driving the growth of the contrast media/ contrast agents market in the Asia Pacific.
Germany dominates the European Contrast media market.
Based on the Europe region, the Contrast media market is divided into Germany, UK, France, Italy, Spain, and Rest of the Europe. Germany is expected to dominate the Contrast media market. The well-developed healthcare infrastructure, high healthcare spending, and government initiatives to strengthen the healthcare system are the key factor driving market growth in the Germany.
The global contrast media/ contrast agents market is consolidated. The prominent players operating in this market include GE Healthcare (US), Bracco Imaging SPA (Italy), Bayer AG (Germany), Guerbet (France), J.B. Chemicals and Pharmaceuticals Ltd. (India), Lantheus Medical Imaging, Inc. (US), Unijules Life Sciences Ltd. (India), and SANOCHEMIA Pharmazeutika GmbH (Austria).
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