According to a new report Global Contrast Media Market, published by KBV Research, The Global Contrast Media Market size is expected to reach $6.3 billion by 2025, rising at a market growth of 3.52% CAGR during the forecast period. The rise in long-term disease prevalence and complicated comorbidities has resulted in an increase in the number of diagnostic imaging tests. These include ultrasound, X-rays, and advanced imaging technologies like Magnetic Resonance Imaging (MRI) scans and CT scans. In order to boost the use of contrast media in imaging procedures, the role of these tests in determining the need for treatment/surgeries in interventional procedures and perioperative scans before surgeries are expected.
Neurological disorder recorded a dominating market position in 2018. CNS diagnostic testing for neurological disorders promotes the use of MRI contrast agents as they provide clearer neural structure images as compared to CT. The Cancer market is expected to witness a CAGR of 4% during (2019 - 2025).
Iodinated contrast agents accounted for the largest market share in 2018. This can be explained by the fact that iodine-based contrast media have exceptional radioopacity and low toxicity compared to other agents. Typically, all radiological tests performed using the injected contrast media include iodinated contrast media. Microbubble contrast agents are expected to grow at the highest CAGR of 9.32% during the forecast period, due to increasing product demand as they are very small (smaller than a red blood cell) and capable of expressing ultrasound waves or a high degree of echogenicity.
North America achieved a dominant market share in the regional market in 2019 and is expected to remain dominant even during the forecast period. The prevalence of well-established healthcare facilities, the advent of advanced technologies together and demand for diagnostic procedures are some of the factors that have fueled the demand in the region. Europe witnessed a rapid growth rate of 3.1% during the forecast period. The adoption of diagnostic imaging techniques, such as CT, MRI, and ultrasound, has rapidly increased in Europe over the last decade. Additionally, The Asia Pacific market is poised to grow at a CAGR of 4.9% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/contrast-media-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bayer AG, General Electric (GE) Co. (GE Healthcare), The Guerbet Group, Lantheus Holdings, Inc., Bracco S.p.A., Trivitron Healthcare Pvt. Ltd., Nano Therapeutics Pvt. Ltd., Magnus Health, LLC (Veracross LLC), Imax Diagnostic Imaging Limited, and Daiichi Sankyo Company, Limited.
Global Contrast Media Market Segmentation
By Product Type
- Neurological disorders
- Cardiovascular disorders
- Gastrointestinal disorders
- Nephrological disorders
- Musculoskeletal disorders
- Other Applications
- Rest of North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Bayer AG
- General Electric (GE) Co. (GE Healthcare)
- The Guerbet Group
- Lantheus Holdings, Inc.
- Bracco S.p.A.
- Trivitron Healthcare Pvt. Ltd.
- Nano Therapeutics Pvt. Ltd.
- Magnus Health, LLC (Veracross LLC)
- Imax Diagnostic Imaging Limited
- Daiichi Sankyo Company, Limited
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AUTOR: KBV Research