Global Contrast Media Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Contrast Media Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Contrast Media market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global contrast media market size was estimated at USD 5.23 billion in 2019 and is anticipated to expand at a CAGR of 3.6% over the forecast period. An increase in the prevalence of long-term diseases and complex comorbidities has led to a rise in the number of diagnostic imaging tests. These include ultrasound, X-rays, and advanced imaging technology such as Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans. The role of these tests in identifying the need for treatment/ surgeries in interventional procedures and perioperative scans before surgeries is anticipated to boost the usage of contrast media in imaging procedures.

The oligopolistic nature of the contrast agent market can be attributed to the market growth. Key companies like Bayer, GE Healthcare, Guerbet, Lantheus Medical Imaging, and Bracco Diagnostics hold significant share of the market for clinical trials. These companies target for higher share through indication extension strategies in major countries like U.S. With approvals for specific indications, they target niche patient cohorts and boost product adoption levels.

The fundamental factor supporting market growth is diagnostic procedure volumes, stemming from the growing burden of chronic diseases. As per the World Health Organization (WHO), by 2020, chronic diseases will account for three-quarters of global deaths and that 71% to 75% of deaths will be caused by heart diseases. Chronic diseases are preventable and can save patients’ lives if they are diagnosed at an early stage.

Contrast media are used to improve the inside images of the body produced by ultrasound, MRI, x-ray, and CT scans. It allows radiologists to distinguish among normal and abnormal tissues. They are not the dyes that discolor the internal organs permanently. Instead, they are the substances that temporarily change the way imaging tools interact with the body. They help contrast the selected areas of the body from the surrounding tissue, thereby improving the visibility of specific tissues, blood vessels, and organs.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Contrast Media market are included as given below:

Some of the players operating in the contrast media/contrast agents market are Bayer AG; General Electric Company; Guerbet; Lantheus Medical Imaging, Inc.; Bracco Diagnostic, Inc.; Trivitron Healthcare; Nano Therapeutics Pvt. Ltd.; and iMAX. The market players aim for higher share through indication extension strategies in major countries like U.S. They target niche patient cohorts, with approvals for specific indications and boost product adoption levels.

For example, in 2017, GE healthcare’s Visipaque received U.S. FDA approval for use in coronary computed tomography angiography in adult and pediatric patients. This novel indication grants CVD-afflicted patients with a substitute for the non-invasive stress test and the invasive, coronary angiography for the diagnosis of coronary artery disease.

The global Contrast Media market has been segmented as below:

• Product Type

  • Iodinated

  • Barium-based

  • Gadolinium-based

  • Microbubble

• Modality

  • X-ray/CT

  • MRI

  • Ultrasound

• Application

  • Cardiovascular Disorders

  • Neurological Disorders

  • Gastrointestinal Disorders

  • Cancer

  • Nephrological Disorders

  • Musculoskeletal Disorders

  • Others

• Global Contrast Media Market by Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Reasons to Purchase this Report:

Estimates Contrast Media development trends with SWOT analysis

• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects