The global contrast media market was valued at USD 4,847.0 million in 2018. Increase in demand for diagnostic imaging procedures, increase in prevalence and mortality associated with chronic diseases coupled with rapid technological advancements in imaging modalities are the key factors driving the global contrast media market.
Increase in demand for diagnostic imaging procedures and minimally invasive procedures will pave the way for early disease diagnosis and treatment. Minimal invasive surgeries are witnessing high demand across all disease areas due to the advantages offered such as smaller incisions, minimum blood loss, shorter hospitalization period, quick recovery, no post-operative side-effects and reduced costs. Hence, the demand for X-ray, computed tomography, MRI and ultrasound scans is rapidly increasing. This, in turn, will propel the demand for contrast media or agents that are used in these imaging procedures.
Moreover, rapid rise in chronic disorders including cancer, cardiovascular diseases, neurological disorders across the globe are expected to drive the demand for contrast media in the future. Contrast media are predominantly used in imaging procedures for early diagnosis of such chronic ailments. However, adverse reactions associated with gadolinium contrast media is expected to hinder the growth of the market over the forecast period.
The global contrast media market is categorized based on product, modality, application, route of administration, and region. Based on product, iodinated contrast media segment held the largest share of the market in 2018. On the basis of modality, X-ray/CT segment is dominated the global contrast media market in 2018. Application-wise, cardiovascular diseases segment grabbed majority of the share of the global contrast media market. On the basis of route of administration, intravascular route is anticipated witness lucrative growth over the forecast period. Geographically, North America dominated the global contrast media market in 2018, however, Asia Pacific is expected to be the fastest growing region by 2025.
Key players operating in the global contrast media market include Bracco Imaging S.p.A., Bayer AG, Guerbet Group, GE Healthcare, Diiachi Sankyo, Lantheus Medical Imaging, nano Therapeutics Pvt. Ltd., Trivitron Healthcare, Subhra Pharma Pvt. Ltd., CMC Contrast AB, and Spago Nanomedical AB among others.
Key Segments of the Global Contrast Media Market
Product Overview, 2015-2025 (USD Million)
- Iodinated contrast media
- Gadolinium-based contrast media
- Barioum-based Contrast Media
- Microbubble Contrast Media
Application Overview, 2015-2025 (USD Million)
- Cardiovascular Diseases
- Gastrointestinal Disorders
- Nephrological Disorders
- Neurological Disorders
- Musculoskeletal Disorders
Modality Overview, 2015-2025 (USD Million)
- Magnetic Resonance Imaging (MRI)
Route of Administration Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Increase in diagnostic and image-guided procedures
- Rapid technology advancements in imaging modalities
- Increase in demand for minimally invasive surgeries
- Rapid rise in prevalence of chronic disorders globally
What does the report include?
- The study on the global contrast media market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s Five Forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product, modality, application, and route of administration. Moreover, the study on contrast media market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global contrast media market is suitable for all the players across the value chain including raw material suppliers, hospitals, diagnostic laboratories, medical device manufacturers, cath labs, healthcare organizations, distributors, suppliers and technology geeks
- Venture capitalists and investors looking for more information on the future outlook of the global contrast media market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global contrast media market
Imaging-related medications, also known as contrast agents or contrast media are vital requirements during medical imaging procedures. Contrast media are commonly used in diagnostic imaging procedures to improve visualization of computed tomography (CT), radiographic, and magnetic resonance imaging (MRI) images. These contrast materials allows the radiologists to distinguish between normal and abnormal tissues and structures. These contrast agents help physicians to diagnose medical conditions by contrasting the selected areas of the body from surrounding tissues and improving the visibility of specific organs, blood vessels or tissues. There are various contrast media agents available in the market such as iodinated contrast media, barium-sulphate, and gadolinium-based contrast media. These are administered either orally, or by rectal, or by intravenous route. Rapid rise in chronic ailments such as cancer, cardiac diseases, neurological disorders will lead to increased demand for diagnostic image-guided procedures. This, in turn, is expected to drive the demand for contrast media in the future. Rapid technological advancements in imaging modalities will pave the way for the growth of the contrast media market in the future. Moreover, major industry players are also focused on emerging economies such as India and China in order to tap the untapped regions owing to presence of large patient pool, high prevalence of chronic diseases, and increasing radiological examinations. This will pave the way for the growth of contrast media market in the coming years.
The global contrast media market has been segmented based on product, modality, application, route of administration, and region. Based on product type, the global contrast media market is categorized into iodinated, gadolinium-based, barium-based and microbubble contrast media. Iodinated contrast media segment held largest share of the global market in 2018 owing to its widespread adoption in radiological procedures such as X-ray, CT scans, and ultrasound, high efficacy in diagnostic imaging procedures along with reduced toxicity issues.
On the basis of modality, the global contrast media market is segregated into X-ray/CT, magnetic resonance imaging (MRI), and ultrasound. X-ray/CT segment dominated the global contrast media market in 2018 owing to high adoption of contrast media agents in X-ray and CT imaging procedures for 3D imaging of a variety of tissue types and organ systems, such as the gastrointestinal tract, renal tract, cardiovascular system, lungs, liver, bone, cartilage, tumorous tissue. Moreover, CT imaging is time saving, less expensive, and more readily available than other medical imaging modalities such as MRI and positron emission tomography (PET). These factors will accelerate the demand for iodinated contrast media used majorly used in X-ray/CT imaging procedures.
On the basis of application, the global contrast media market is segmented into gastrointestinal disorders, cardiovascular diseases, cancer, neurological diseases, nephrological disorders, musculoskeletal disorders, and others. Cardiovascular diseases segment held majority of the market share in 2018 owing to wide adoption of contrast media agents in cardiac intervention procedures such as angioplasty and angiography.
On the basis of route of administration, contrast media or contrast agents are segmented into intravascular, oral, rectal route, and others. Intravascular route is used to deliver accurate measurements of contrast agents at a varying flow rate. It helps to improve blood and tissue perfusion and enhances the medical imaging procedure. These are majorly utilized in diagnosis of internal injuries, cancer, vascular disease, heart disease, and gastrointestinal disorders among others.
The global contrast media market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global contrast media market in 2018, however Asia Pacific is expected to grow at a highest pace through 2025.
High adoption of contrast media or agents in radiology procedures, increase in approval of contrast agents along with surging volume of minimally invasive surgeries performed in the U.S. are major factors expected to drive the contrast media market in the region. Furthermore, availability of advanced technologies and equipment, high volume of diagnostic imaging procedures, and presence of well-established healthcare infrastructure are other major factors likely to boost the growth of the market in North America.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. Increasing prevalence of chronic disorders such as cardiac diseases, cancer and high mortality associated with these diseases in China, India and Japan drives the demand for imaging procedures for early disease diagnosis and treatment. This will subsequently propel the demand for contrast media agents used in these imaging procedures. Moreover, growing awareness about contrast media used in radiological examinations along with increase in investments by industry players in the developing economies are major factors anticipated to drive the growth of the market in the region.