Contrast Media Market (Modality - X-ray/CT, MRI, and Ultrasound; Product Type - Iodinated Contrast, Barium-based, Gadolinium-based, and Microbubble; Application - Cardiovascular Disorders, Neurological Disorders, Gastrointestinal Disorders, Cancer, Nephrological Disorders, Musculoskeletal Disorders, and Others; Route of Administration - Intravascular Route, Oral Route, and Rectal Route; End-use - Hospital, Clinics, & Ambulatory Surgery Centers, and Diagnostic Imaging Centers): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the contrast media market provides an in-depth analysis of segments and sub-segments in the global as well as regional contrast media market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional contrast media market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global contrast media market. According to the report, the global contrast media market is projected to grow at a CAGR of about 4% over the forecast period of 2022-2028, growing from nearly USD 4.2 billion in 2022 to about USD 5.3 billion in 2028. 

Market Insight

Diagnostic imaging procedures, including ultrasound, X-rays, and advanced imaging technologies like MRI and CT scans, are becoming more common due to the rising prevalence of complicated comorbidities and chronic diseases. Some of the key factors propelling the growth of the global contrast media market include the rise in the older population and the rise in the number of people being diagnosed with chronic conditions. The market is comprehensively evaluated in the study on the global contrast media market. 

The use of cutting-edge technology, such as gas microbubble technology in MRI imaging, and the increased prevalence of chronic diseases like cancer, gastrointestinal disorders, and heart diseases, are the main drivers fueling the expansion of contrast media and contrast agents. Worldwide, an estimated 14.1 million new cases of cancer and 8.2 million cancer deaths were reported in 2012, according to the International Agency for Research on Cancer (IARC), and by 2030, those numbers are projected to rise to 21.7 million new cases and 13 million cancer deaths. Also, as a result of improvements in medical imaging technology and rising demand for image-guided operations and diagnostics is also propelling the growth of the market. However, challenges that are impeding the growth of the contrast media/contrast agent market include the negative effects of contrast agents such as kidney disorders, and the high costs associated with contrast media injectors. Generic contrast media are expected to offer new opportunities in the market. 

The contrast media market is dominated by North America, which is anticipated to maintain a similar pattern without seeing substantial deviations during the projected period. In the US, the first gadolinium-based contrast agent was authorized. In the past ten years, only four agents have received approval in the United States, and as a result, there has been a significant tendency in the market to keep looking for agents that are more effective, more accurate, and safe. Over the upcoming years, the United States sales of contrast media are anticipated to increase. Sales of contrast media for the ultrasound industry are anticipated to develop quickly among the various imaging modalities. North America's largest consumer market for contrast media is the United States. The main reason fueling the market's expansion in the US is the rise in chronic diseases, such as cardiovascular and neurological conditions. 

Segment Covered

The report on the global contrast media market covers segments such as modality, product type, application, route of administration, and end-use. On the basis of modality, the sub-markets include X-ray/CT, MRI, and ultrasound. On the basis of product type, the sub-markets include iodinated contrast, barium-based, gadolinium-based, and microbubble. On the basis of application, the sub-markets include cardiovascular disorders, neurological disorders, gastrointestinal disorders, cancer, nephrological disorders, musculoskeletal disorders, and others. On the basis of the route of administration, the sub-markets include the intravascular route, oral route, and rectal route. On the basis of end-use, the sub-markets include hospitals, clinics, & ambulatory surgery centers, and diagnostic imaging centers. 

Companies Profiled:

The report provides profiles of the companies in the market such as Bayer AG, General Electric Company, Guerbet, Bracco Diagnostic, Inc., Nano Therapeutics Pvt. Ltd., Lantheus Medical Imaging, Inc., iMAX Diagnostic Imaging Limited, Trivitron Healthcare, Spago Nanomedical AB, and FUJIFILM Corporation. 

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the contrast media market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.