Contrast Media Market Overview
Contrast media used as a part of therapeutic imaging are grouped on the principle of imaging modalities. The two most usually utilized contrast media are iodine-containing contrast medium and gadolinium contrast medium. The shade of structures in the body varies when pictures are caught with contrast media in the body. The delicate tissues are viewed as dim, while the bones look as a light dark. The contrast media enhances the contrast between different parts of the body and classifies between a variety of parts of the body that have comparative pieces.
The market for Contrast Media is needed to witness noteworthy development amid the guess forecast period because of increasing in the number of aging population, rising research and development activities in the field of imaging modalities, demand image-guided techniques, and raise in the incidence of chronic diseases. However difficult reactions of contrast media on the body and huge costs involved limit the growth of the market.
Contrast Media Market Forecast Report (2018-2023)
The Global Contrast Media Market worth was USD 4.7 Billion in 2018 and estimated to grow at a CAGR of 4.6%, to reach USD 5.89 billion by 2023.
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Contrast Media Market Segmentation
The Global Contrast Media Market is classified on the basis of procedure, application, route of administration, indication, type, and region. Based on the procedure, the market is classified into X-ray/Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound. The ultrasound segment is likely to have the high CAGR during the given forecast period. Development of microbubble contrast media for an ultrasound, a more number of approvals for ultrasound contrast media in the U.S., Europe, and Japan are some of the main factors driving the growth of this segment.
Based on application, the market is classified into Radiology, Interventional Radiology, and Interventional Cardiology. Based on the route of administration, the market is classified into Oral Contrast Media, Injectable Contrast Media, Rectal Contrast Media, and Urethral Contrast Media. Based on an indication, the market is classified into Cardiovascular Disorders, Oncology, Gastrointestinal Disorders, Musculoskeletal Disorders, Neurological Disorders, Nephrological Disorders. Based on the type, the market is classified into Barium-Based Contrast Media, Iodinated Contrast Media, Gadolinium-Based Contrast Media, Microbubble Contrast Media.
Contrast Media Market Geographical Analysis
Geographically, the Contrast Media market is classified into North America, Europe, Asia-Pacific, Latin America and Middle East Asia. North America is estimated to constitute the large share of this market, while the Asia Pacific region is expected to witness the quick growth and overtake North America, being the second large shareholder for the market during the forecast period.
Key Developments in the Market
- January 2018: The Guerbet has acquired the Accurate Medical Therapeutics. The acquisition will fuel Guerbet’s growth in interventional radiology and make stronger its current portfolio.
- March 2017: The GE Healthcare expanded the MRI contrast media product range in Europe with macrocyclic agent Clariscan.
Some of the key players in the Contrast media market are
- CMC Contrast AB (Sweden),
- Daiichi Sankyo (Japan),
- Bayer HealthCare (Germany),
- GE Healthcare (U.S.),
- Guerbet Group (France),
- Bracco Imaging S.p.A. (Italy) in 2015.
- Lantheus Medical Imaging (U.S.),
- nanoPET Pharma GmbH (Germany),
- Subhra Pharma Private Limited (India).
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