High prevalence of breast cancer and colorectal cancer globally, growing geriatric population, increasing technological advancements in imaging modalities, and improving healthcare infrastructure are key factors fueling global market revenue growth
The global contrast media market is expected to reach USD 6.79 Billion in 2028 and register a steady revenue CAGR of 3.6% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rising prevalence of cardiovascular diseases, increasing awareness about early detection of asymptomatic heart diseases, and growing investments by various public and private sectors.
Contrast media, also known as contrast material or contrast agents, are substances that are used to enhance the contrast resolution of imaging modalities such as ultrasound, CT scan, MRI, and X-rays and help healthcare professionals distinguish between abnormal and normal health conditions. Some of the commonly used contrast agents are iodinated, barium-based, gadolinium-based, and microbubble that are injected into the body through contrast media injectors via different routes of administration. High demand for various contrast agents is attributed to rising prevalence of various chronic diseases such as types of cancer, neurological diseases, and cardiovascular disorders. Other factors driving global market revenue growth are rapid advancements in image-guided diagnostic procedures, improving healthcare infrastructure, and rising number of hospitals, diagnostic centers, and ambulatory care services. Moreover, high focus on developing cost-effective and enhanced contrast agents and increasing investments in research and development activities are expected to fuel market revenue growth going ahead.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
GE Healthcare, Bracco Imaging SPA, Bayer AG, Guerbet, Lantheus Medical Imaging, Inc., Unijules Life Sciences, J.B. Chemicals and Pharmaceuticals Ltd., Taejoon Pharmaceutical Co., Ltd., Jodas Expoim, Nano Therapeutics Pvt. Ltd., iMax Diagnostic Imaging Limited, Livealth Biopharma Pvt. Ltd., Trivitron Healthcare Pvt. Ltd., Novalek Pharmaceuticals Pvt. Ltd., Unispire Biopharma Private Limited, Congruent Pharmachem Private Limited, Stanex Drugs Chemicals Pvt. Ltd., Beijing Beilu Pharmaceutical Co., Ltd., and Subhra Pharma Pvt. Ltd.
Market Segmentation by Types:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Iodinated
- Barium-based
- Gadolinium-based
- Microbubble
Modality Outlook (Revenue, USD Billion; 2018-2028)
- X-ray/CT
- MRI
- Ultrasound
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Intravascular Route
- Oral Route
- Rectal Route
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Cardiovascular Disorders
- Neurological Disorders
- Gastrointestinal Disorders
- Cancer
- Nephrological Disorders
- Musculoskeletal Disorders
- Others
End Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Diagnostic Centers
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Contrast Media market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Some Key Highlights from the Report:
- Among the modality type, the ultrasound segment is expected to register rapid revenue growth over the forecast period owing to increasing prevalence of diseases related to liver, kidney, and cancer, availability of advanced ultrasound devices in many hospitals and diagnostic centers, and increasing number of ultrasound examinations.
- Based on application, the cancer segment is expected to register rapid revenue CAGR between 2021 and 2028 owing to increasing prevalence of cancer globally, increasing number of ultrasound and MRI examinations, rising awareness about early diagnosis, availability of advanced diagnostic modalities, and increasing approvals for cancer contrast agents.
- Based on end use, the hospital segment is expected to account for significantly large revenue share during the forecast period owing to increasing cases of chronic illnesses globally, increasing healthcare spending, and high demand for advanced imaging tools and equipment.
- The contrast media market in North America accounted for largest revenue share in 2020, owing to factors such as increasing prevalence of various chronic diseases, presence of well-developed healthcare systems, and rapid advancements in contrast agents and imaging tools. Rising number of product approvals, availability of advanced diagnostic equipment in hospitals, ambulatory care, and diagnostic centers, and increasing investments in research and development activities are other factors fueling North America market growth.
- Asia Pacific market is expected to register rapid revenue CAGR over the forecast period. This growth is attributed to factors such as increasing cases of cardiovascular diseases, gastrointestinal diseases, neurological disorders, and cancer, rising healthcare spending, and improving healthcare infrastructure. Other factors such as increasing demand for advanced scanning and imaging modalities, rising disposable income, and increasing elderly population are fueling market growth in Asia Pacific.
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