Contrast Media Market Size [2023-2030] | Industry Share, Revenue, Key Players, CAGR, Demand and Forecast

Pune, India, March 08, 2023 (GLOBE NEWSWIRE) -- The rising prevalence of cardiac diseases and cancer cases is expected to boost the global contrast media market expansion. Valuable market insights have been shared by Fortune Business Insights in its report, titled "Contrast Media Market Size, Share and Global Trend By Type (Barium-based Contrast Media, Iodinated Contrast Media, Gadolinium-based Contrast Media, Microbubble Contrast Media), By Route of Administration (Oral, Rectal, Intravenous, Ureteral), By Application (Oncology, Cardiology, Neurology), By Modality (X-ray/CT, MRI, Ultrasound), By End User (Hospitals, Clinics), and Geography Forecast till 2030." The report provides in-depth market analysis and a comprehensive evaluation of the key factors that will influence the development of the market until 2030.

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Report Scope

Key Takeaways:

• The high cost of contrast media injectors is some of the factors restraining the growth of the global contrast media market
• Emerging innovations, in contrast, media are some of the factors likely to boost the global contrast media market
• Major companies operating in the global contrast media market are amag pharmaceuticals, bayer ag, bracco diagnostic inc., daiichi sankyo company, limited., general electric company

A contrast medium (also known as a contrast agent or dye) is a substance that is introduced in the body to highlight and improve the visibility of specific blood vessels, organs, or tissues during radiology. They help the radiologist in determining the extent of damage or injury that has been borne. The most commonly used contrast media include iodine, gadolinium, barium sulfate, and gastrografin. They are administered either intravenously, through the rectum, or orally.

Rising Demand for Image-Guided Procedures to Boost the Market

The global contrast media market is slated to experience a sustained growth period owing to the rising demand for image-guided procedures such as Ultrasound and MRI. The main advantage of image-guided techniques is their minimally invasive nature and high accuracy, which makes them ideal for application in diagnostic procedures. Image-guided tools enable the physician to provide a more pinpointed prognosis and map out with greater accuracy the therapeutic procedure.

Increasing Incidence of Cancer to Aid Market Growth

People suffering from cancer need to frequently undergo imaging procedures. For example, a CT scan is required to determine the stage of cancer. A similar situation is seen for people having cardiovascular and neurological conditions. Contrast imaging enhances the problem areas of the affected region, which can, again, make diagnosis, prognosis, and surgery more accurate and effective. This bodes well for the global contrast media market size as increasing incidents of cancer cases and other life-threatening diseases will push up the demand for contrast media devices.

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Possible Side Effects May Restrain the Market

The global contrast media market may experience restricted growth during the forecast period owing to various side effects caused by imaging techniques. For example, radiographic contrast media can lead to severe hypersensitivity reactions such as abdominal cramps, cardiac failure, loss of consciousness, coronary artery spasms, seizures, and pulmonary oedema, to name a few. Similarly, iodinated contrast media, one of the most contrast media, can lead to hypo or hyperactive thyroidism. These factors can have a negative impact on the global contrast media, as patients may not readily accept treatments involving image-guided procedures.

Innovations and Partnerships to Drive Market Competition

Major players in the global contrast media market are ramping up the competition through partnerships and innovations to diversify their product portfolios in a bid to gain a competitive edge. For example, in May 2019, Lantheus collaborated with NanoMab to develop a novel biomarker to effectively manage immuno-oncology therapies. In April 2019, Guerbet received approval to launch SeQure and DraKon micro-catheters for the delivery of intra-arterial therapy and embolic materials into all peripheral vessels.

Some of the key players in the global contrast media market, as identified by Fortune Business Insights, include General Electrical Company, Bracco Diagnostic Inc., Lantheus Medical Imaging, Interpharma Praha, Spago Nanomedical AB., and a few others.

Robust Healthcare Infrastructure to Propel the Market in North America

North America is expected to hold a dominant market share in the global contrast media market during the forecast period. Key market players premise this on the region's well-structured healthcare infrastructure and growing investment in research and development. Moreover, the region is experiencing a rising number of cardiac diseases and cancer cases, which is accelerating the advancement of diagnostic imaging technologies.

In Europe and Asia-Pacific, the global contrast media market expansion is expected to occur at a significant pace on account of the growing adoption of image-guided diagnostic techniques in treating cardiovascular diseases, coupled with rising cases of cardiac disorders.

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Some of the Major Companies Operating In the Global Contrast Media Market Are

• Amag Pharmaceuticals,
• Bayer Ag,
• Bracco Diagnostic Inc.,
• Daiichi Sankyo Company, Limited.,
• General Electric Company,
• Lantheus Medical Imaging, Inc.,
• Guerbet, Nanoscan Imaging Llc,
• Sanochemia Pharmaceutical Ag,
• Spago Nanomedical Ab.,
• Interpharma Praha, A.S.

Market Segmentation:

By Type

• Barium-based Contrast Media
• Iodinated Contrast Media
• Gadolinium-based Contrast Media
• Microbubble Contrast Media

By Route of Administration

• Oral
• Rectal
• Intravenous
• Ureteral

By Application

• Oncology
• Cardiology
• Neurology
• Others

By Modality

• X-ray/CT
• MR
• Ultrasound

By End User

• Hospitals
• Clinics
• Ambulatory Surgery Centres
• Others

By Geography

• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and the Rest of Latin America)
• Middle East & Africa (South Africa, GCC, and the Rest of Middle East & Africa)

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