U.S. Cancer Contrast Media Market Size, Share & Trends Analysis Report By Type (Gadolinium-based Contrast Media, Iodinated Contrast Media), By Modality (Nuclear Imaging, CT scans), By Application (Breast Cancer, Lung Cancer), And Segment- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The U.S. cancer contrast media market size was estimated at USD 719.09 million in 2023 and is expected to surpass around USD 2,174.28 million by 2033 and poised to grow at a compound annual growth rate (CAGR) of 11.7% during the forecast period 2024 to 2033.

Key Takeaways:

• In 2023, the iodinated contrast media segment dominated the U.S. cancer contrast media with the market share of 40%.
• The radioactive agents segment is expected to grow at a highest CAGR over the forecast period. 
• The nuclear imaging segment held the largest share in the market in 2023 and is also expected to grow at the fastest CAGR over the forecast period.
• The others segment held the largest share in the U market in 2023.
• The lung cancer segment is expected to grow at the fastest CAGR over the forecast period.

U.S. Cancer Contrast Media Market Overview

The U.S. Cancer Contrast Media Market plays a crucial role in the diagnostic landscape, providing healthcare professionals with essential tools for accurate imaging and detection of cancerous conditions. This overview aims to delve into the key facets of this market, encompassing its current state, growth factors, challenges, and future prospects.

U.S. Cancer Contrast Media Market Growth

The growth of the U.S. Cancer Contrast Media Market is underpinned by several key factors. Firstly, technological advancements in diagnostic imaging have significantly enhanced the capabilities of contrast media, enabling more precise and detailed visualization of cancerous conditions. This technological evolution contributes to the market's expansion as healthcare providers increasingly adopt state-of-the-art imaging modalities. Additionally, the rising incidence of cancer cases in the U.S. amplifies the demand for effective diagnostic tools, positioning contrast media as a critical component in the early and accurate detection of tumors. Furthermore, the growing awareness among both healthcare professionals and the general population regarding the importance of early cancer diagnosis propels the market forward. As a result, the convergence of advanced technology, increasing cancer prevalence, and a heightened focus on early detection collectively drive the robust growth of the U.S. Cancer Contrast Media Market

U.S. Cancer Contrast Media Market Report Scope

U.S. Cancer Contrast Media Market Dynamics

Drivers

• Technological Advancements in Imaging Modalities: The continuous evolution and improvement in diagnostic imaging technologies, such as computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound, serve as a primary driver for the U.S. Cancer Contrast Media Market. Technological innovations enhance the sensitivity and specificity of these modalities, making them more effective tools for detecting and characterizing cancerous lesions.
• Rising Incidence of Cancer Cases: The increasing prevalence of cancer in the U.S. is a significant driver for the growth of the contrast media market. With a higher number of individuals being diagnosed with various forms of cancer, there is a corresponding surge in the demand for accurate and efficient diagnostic tools. Contrast media play a crucial role in enhancing the visibility of tumors during imaging, aiding in early and precise detection.

Restraints

• Potential Adverse Reactions and Safety Concerns: Despite advancements in contrast media formulations, concerns regarding potential adverse reactions and safety issues remain a restraint. While adverse events are relatively rare, the perception of risk can impact patient and clinician confidence. Manufacturers must address safety concerns through rigorous testing, education, and communication to mitigate potential restraints on market acceptance.
• Dependency on Imaging Equipment Manufacturers: The U.S. Cancer Contrast Media Market is dependent on the integration of contrast agents with imaging equipment. Any slowdown in the adoption or upgrading of imaging technologies, such as CT or MRI machines, can directly impact the demand for contrast media. Market participants face the challenge of aligning their product development strategies with the timelines and trends in the broader imaging equipment industry.

Opportunities

• Development of Novel Contrast Agents: The U.S. Cancer Contrast Media Market presents a ripe opportunity for the development of novel contrast agents. Investing in research and development to create innovative formulations with improved efficacy and safety profiles can give companies a competitive edge. Novel agents catering to specific imaging modalities or addressing unmet clinical needs have the potential to capture a significant market share.
• Integration of Artificial Intelligence (AI) in Imaging: The integration of artificial intelligence (AI) in diagnostic imaging represents a promising opportunity. AI technologies can enhance the accuracy and efficiency of cancer diagnosis, and contrast media play a crucial role in supporting these advanced algorithms. Developing contrast agents that synergize with AI-based diagnostic tools can revolutionize the precision and speed of cancer detection and characterization.

Challenges

• Concerns about Adverse Reactions and Safety: Despite advancements in contrast media formulations, concerns about potential adverse reactions and safety issues persist. These concerns can lead to hesitancy among both healthcare professionals and patients, impacting the widespread acceptance and use of contrast agents. Manufacturers must proactively address safety concerns through comprehensive testing, education, and communication efforts.
• Dependency on Imaging Equipment Manufacturers: The U.S. Cancer Contrast Media Market is closely tied to the adoption and upgrading of imaging technologies. Any slowdown or stagnation in the advancements of imaging equipment, such as CT or MRI machines, can directly impact the demand for contrast media. Market participants must navigate this challenge by closely aligning their strategies with the trends and developments in the broader imaging equipment industry.

Segments Insights:

Type Insights

In 2023, the iodinated contrast media segment dominated the U.S. cancer contrast media with the market share of 40%. Computed tomography procedures with intravenous iodinated contrast agents serve as the main imaging technique for identifying, planning treatment, and monitoring post-treatment progress in the case of most cancers. Normally, iodinated contrast media is administered through an intravenous injection. However, in specific instances, barium-based contrast agents may be employed for either rectal or oral administration. The use of iodine-based contrast media significantly enhances the quality of CT and X-ray images, facilitating the clear visualization of the gastrointestinal tract, internal organs, arteries and veins, soft tissues, and the brain. Also, all the radiological examinations involving injected contrast utilize iodinated contrast media. Such factors propel the segment growth.

Moreover, the industry key players are involved in gaining regulatory approval for the novel product launch which has a positive impact on the market. For instance, in June 2023 , Bayer AG recently obtained approval from the FDA for its Ultravist injection (a nonionic iodinated contrast agents), specifically designed for Contrast-Enhanced Mammography (CEM). CEM seamlessly combines digital mammography with the incorporation of a contrast agent. Such initiatives drive the iodinated contrast media segment growth.

The radioactive agents segment is expected to grow at a highest CAGR over the forecast period. Nuclear medicine uses radioactive agents, radioisotopes for the study of specific organs of the body and disease diagnosis. Radiotherapy is essential in treating chronic disorders such as cancer by using radiation to focus on and remove specific cells.

Radioisotopes are also used to sterilize medical equipment following strict rules and adhering to standardized procedures which is crucial for making sure healthcare practices are safe. Moreover, researchers are involved in developing improved radiopharmaceuticals to capture clearer images inside the body. Their goal is to make these substances last longer by enhancing the half-life, target specific cancer types more precisely, and reduce the amount of radiation exposure for patients.

Also, the theragnostic agents which are primarily radioactive agents are used in diagnostic imaging and therapeutic purposes. Thus, there is increasing demand among the healthcare professionals for using these substances in nuclear medicine for cancer treatment. For instance, in June 2023 , the researchers found a new substance called CB-2PA-NT, which shows promising results in treating and diagnosing diseases. CB-2PA-NT has the ability to stick to tumors, adhere for a long time, and create clear images when tested with the animals. The substance targets neurotensin receptors found in different types of cancers, which could open new possibilities for treating specific kinds of diseases. This exciting research was shared in 2023 at the Society of Nuclear Medicine and Molecular Imaging Annual Meeting. Therefore, the increasing number of clinical trials for radioactive agents for their application in cancer diagnosis boost the segment growth in near future.

Modality Insights

The nuclear imaging segment held the largest share in the market in 2023 and is also expected to grow at the fastest CAGR over the forecast period. Nuclear imaging can detect small tumors hidden in the body, which helps physicians with better and more precise diagnosis. Nuclear imaging has transformed the approach to cancer detection and treatment, with the application of special contrast agents the enhance the accuracy and clarity of cancer imaging, enabling medical professionals to gain insights into the presence, location, & extent of tumors within the body. This is crucial for devising the most effective strategies to manage and treat cancer propelling the segment growth.

One notable method is Single Photon Emission Computed Tomography (SPECT), which utilizes radioactive substances called radiotracers to generate detailed 3D images of internal structures. These radiotracers are frequently designed to attach particular molecules to cancer cells, enabling accurate identification and description of malignant growths. Also, the Positron Emission Tomography (PET) plays a crucial role in nuclear imaging for cancer contrast agents. In PET scans, the body is introduced to biologically active molecules labeled with radioactive isotopes. This medical imaging technique provides high sensitivity. According to information from GE Healthcare in 2022 , the rising incidence of cancer has led to a growing demand for PET technology, driving the expansion of the market for PET/CT scanner devices. Thus, the rising number of cancer cases increases the demand for nuclear imaging diagnosis which has a positive impact for market expansion.

Application Insights

The others segment held the largest share in the U market in 2023. The segment includes revenues generated from contrast media products used for other cancer types, such as brain cancer, kidney cancer, and pancreatic cancer. The geriatric population is more prone for developing pancreatic cancer. Thus, the increasing elderly population, increasing use of cigarette smoking among the people, rising cases of diabetes are the factors resulting in the growing number of pancreatic cancer cases in U.S. Thus, the demand for contrast agents for disease diagnosis increases, driving the market growth.  

For instance, in December 2023, as per the data reported by Society Of Nuclear Medicine & Molecular Imaging, PET imaging using 68Ga-FAPI is more effective in detecting pancreatic cancer when compared to 18F-FDG imaging or contrast-enhanced CT. In a direct comparison, 68Ga-FAPI identified a higher number of pancreatic tumors per lesion, per patient, or per region, resulting in significant adjustments to the clinical management of patients. Beyond its improved accuracy in detecting pancreatic cancer, 68Ga-FAPI imaging also opens possibilities for targeted radiopharmaceutical therapies in the future. Furthermore, the increasing application of contrast agents in pancreatic cancer diagnosis with rising cancer cases boosts the segment growth.

The lung cancer segment is expected to grow at the fastest CAGR over the forecast period. Lung cancer ranks among the leading cause of cancer-related fatalities. Inhaling air pollutants such as particulate matter, chemical toxins, and carcinogens has been associated with an increased risk of developing lung cancer. Additionally, residing in urban areas with higher pollution levels may also raise the chances of encountering lung cancer. For instance, as per the data reported by American Cancer Society in 2023 , in U.S. approximately 238,340 new cases of lung cancer were estimated, with 117,550 affecting men and 120,790 affecting women. Tragically, there were around 127,070 deaths attributed to lung cancer, with 67,160 occurring in men and 59,910 in women. Contrast media is essential for diagnosing lung cancer as it improves the detection of abnormalities in lung tissue during imaging procedures.

Improved imaging aids in evaluating lymph nodes for potential cancer spread by highlighting abnormal nodes that exhibit increased contrast agents absorption. Thus, the market is significantly influenced by the growing cases of lung cancer cases in U.S.

Recent Developments

• In November 2023, the American Cancer Society expanded its Get Screened program to boost rates of lung cancer screening. In order to accomplish this goal, the organization collaborated with local health systems and ensure that information about cancer screenings is distributed effectively, prioritizing a proper, safe, and equitable approach.
• In September 2023 , Koninklijke Philips N.V. introduced a cutting-edge ultrasound application CEUS (Contrast-Enhanced Ultrasound), aimed at enhancing diagnostic reliability for individuals with cancer. This innovative technique uses micro-bubble contrast agents instead of the usual iodinated ones. These tiny bubbles, generated by a non-reactive gas exhaled by the patient, significantly enhance the clarity of the images. The company rolled out an innovative imaging technology named Microvascular Imaging Super Resolution Contrast-Enhanced Ultrasound (CEUS) on the EPIQ Elite system. This advancement showcased an impressive 200% improvement in spatial resolution when compared to its earlier versions.
• In May 2023 , Guerbet revealed that Elucirem (gadopiclenol) was categorized as a Group II agent by the ACR Committee on Drugs and Contrast Media, based on the most recent scientific and clinical findings. This cutting-edge GBCA by Guerbet belongs to the advanced generation, boasting a remarkably stable macrocyclic gadolinium-based contrast agent (GBCA) with the highest relaxivity in its class for magnetic resonance imaging (MRI). Its approval for usage extends to both adults and children aged 2 years and older. Notably, Elucirem necessitates only half the gadolinium dose compared to conventional non-specific GBCAs, effectively addressing practitioners' concerns regarding gadolinium exposure.
• In December 2022 , On Target Laboratories, Inc. revealed that the U.S. FDA approved the extended usage of CYTALUX in the treatment of lung cancer. CYTALUX, recognized as the pioneering targeted molecular imaging agent, uniquely lights up both lung and ovarian cancer during surgery, facilitating the identification and removal of a greater extent of cancerous tissue. This expanded approval empowered surgeons to seamlessly incorporate CYTALUX into their treatment strategies for adult patients diagnosed with or suspected of having lung cancer, broadening its application from its previous approval solely for adults with ovarian cancer.
• In September 2022, Guerbet announced that the U.S. FDA has granted approval to Elucirem (Gadopiclenol) following a priority review. This innovative gadolinium-based contrast agent (GBCA) could be used in contrast-enhanced magnetic resonance imaging (MRI).

Key Companies & Market Share Insights

Some of the key players operating in the market include Bayer AG; Bracco GE HealthCare; and Guerbet

• Bayer AG is a publicly held company founded in 1863. is actively involved in exploring, creating, producing, and bringing to market a range of products that cater to both human health and agriculture. The company is dedicated to offering medications addressing cardiovascular diseases, women's health issues, cancer, hematology, ophthalmology, and various other health conditions.
• Bracco designs and manufactures diagnostic imaging solutions to improve the effectiveness of diagnostics, ensure patient safety, and achieve cost-effectiveness. The product portfolio includes agents, procedures, and devices, reinforced by data to guarantee the safety and effectiveness of patient care. This helps healthcare organizations enhance their overall patient care services.
• Nano Therapeutics Pvt. Ltd., IMAX Diagnostic Imaging are some of the emerging market participants in the market.
• Nano Therapeutics Pvt. Ltd. is a medical equipment manufacturing company. The company is dedicated to offering products for the cardiovascular sector. It also manufactures contrast media and vascular medical devices.
• IMAX Diagnostic Imaging manufactures generic drugs, active pharmaceutical ingredients, and various drug products.

Key U.S. Cancer Contrast Media Companies:

• Bayer AG
• Bracco
• Guerbet
• Lantheus
• Cardinal Health
• Telix Pharmaceuticals Limited
• GE HealthCare
• Nano Therapeutics Pvt. Ltd.
• IMAX Diagnostic Imaging

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. Cancer Contrast Media market.

By Type 

• Gadolinium-based Contrast Media
• Iodinated Contrast Media
• Radioactive Agents
• Others

By Modality 

• Nuclear Imaging
• CT scans
• Mammography
• MRI scans
• Ultrasound

By Application 

• Breast Cancer
• Lung Cancer
• Prostate Cancer
• Colorectal Cancer
• Bladder Cancer
• Others