Contrast Media Market is Expected to Reach $9.7 Billion | MarketsandMarkets™

Chicago, March 11, 2024 (GLOBE NEWSWIRE) — Contrast Media market in terms of revenue was estimated to be worth $6.3 billion in 2023 and is poised to reach $9.7 billion by 2029, growing at a CAGR of 7.5% from 2023 to 2029 according to a latest report published by MarketsandMarkets™. Factors such as the rising volume of CT and MRI examinations performed, the rising prevalence of chronic diseases, and the increasing demand for early diagnosis are driving the growth of the contrast media market globally. Contrast media are a group of agents developed to help characterize pathology by enhancing the contrast resolution of an imaging modality. Specific contrast media are designed for structural imaging modalities like X-ray, MRI, CT, and ultrasound.

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Contrast Media Market Scope:

Report Coverage Details
Market Revenue in 2023 $6.3 billion
Estimated Value by 2029 $9.7 billion
Growth Rate Poised to grow at a CAGR of 7.5%
Market Size Available for 2021–2029
Forecast Period 2023–2029
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Form, Modality, Route of Administration, Indication, Application, and End User
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Increasing research on contrast media
Key Market Driver Increasing prevalence of chronic medical conditions

Increasing patient awareness about the benefits of early disease diagnosis is a significant factor driving the global demand for diagnostic imaging procedures. The early detection of disease conditions helps treat the condition at an early stage. Conditions such as breast cancer, Parkinson’s disease, Alzheimer’s disease, and coronary heart disease, when detected in the early stages, are more easily managed with early medications or even completely cured in the early stages. The increasing demand for the early-stage diagnosis of any disease condition using imaging technologies has led to the rising number of CT and MRI examinations conducted.

The contrast media market is segmented based on type into iodinated contrast media, gadolinium-based contrast media, microbubble contrast media, and barium-based contrast media. Iodinated contrast media account for the largest share of the contrast media market. The large share of this segment can be attributed to the growing number of cardiovascular procedures performed globally.

Based on form, the contrast media market is segmented into liquid, powder, and other forms of contrast media. Liquid contrast media account for the largest share of the contrast media market. Ease of use and better administration are anticipated to support the market’s growth.

The contrast media market is segmented based on modality into X-ray, CT, MRI, and Ultrasound. CT accounts for the largest share of the contrast media market in 2022. The large share of this segment can be attributed to the increasing number of CT procedures globally, along with the advancements in imaging technologies that require injectable contrast media.
Based on the route of administration, the contrast media market is segmented into intravascular, oral, rectal, and other routes of administration. The intravascular route segment is expected to hold a significant share and have the highest growth rate. The use of injectable contrast media across imaging modalities is one of the major factors driving the growth of the intravascular segment.

Based on indication, the contrast media market has been segmented into cardiovascular diseases, cancer, gastrointestinal disorders, neurological disorders, musculoskeletal disorders, and nephrological disorders. Cardiovascular disorders accounted for the largest market share and highest growth rate. The large share of this segment can be attributed to the increasing prevalence of CVD across the globe.

Based on application, the contrast media market is segmented into interventional cardiology, radiology, interventional radiology, and. The radiology applications segment commanded the largest share of the contrast media market. The share of this segment can be attributed to the increasing use of medical imaging techniques, such as MRI, X-ray, CT, and ultrasound, across the applications mentioned above.

Based on end users, the contrast media market is segmented into hospitals, clinics, ASCs, and diagnostic imaging centers. Hospitals, clinics, and ASCs account for the largest share of the contrast media market. The large share is attributed to the rise in the number of hospitals and diagnostic imaging centers across the globe.

The global contrast media market is segmented into four major regions: North America, Europe, the Asia Pacific, and the Rest of the World. The Asia Pacific market is estimated to experience the highest CAGR during the forecast period. Countries in the Asia Pacific region, including China, Japan, and India, have been experiencing steady growth in healthcare expenditure. Besides, there has been a significant rise in the target populations in Asian countries. Such factors are expected to support the region’s growth in the contrast media market.

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Contrast Media market major players covered in the report, such as:

  • GE HealthCare (US)
  • Bracco Imaging S.p.A. (Italy)
  • Bayer AG (Germany)
  • Guerbet (France)
  • Lantheus Medical Imaging (US)
  • Unijules Life Sciences Ltd. (India)
  • JB Pharma (India)
  • Sanochemia Pharmazeutika (Germany)
  • TAEJOON PHARM Co., Ltd. (South Korea)
  • Jodas Expoim (India)
  • iMax Diagnostic Imaging Limited (Ireland)
  • YZJ Group (China)
  • Livealth Biopharma Pvt. Ltd. (India)
  • Unispire Biopharma Private Limited (India)
  • Acro Lifesciences (I) Pvt. Ltd. (India)
  • Stanex Drugs & Chemical Pvt. Ltd. (India)
  • Beijing Beilu Pharmaceutical Co., Ltd. (China)
  • Rege Imaging & Cine Films Private Limited (India)
  • K DIAM EXIM (India)
  • Onko Ýlaç San. ve Tic. A.Þ. (Turkey)
  • Fresenius Kabi (Germany)
  • Biem İlaç San. ve Tic. A.Ş. (Turkey)
  • AdvaCare (US)
  • and Among Others

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This research report categorizes the Contrast Media Market into the following segments and subsegments:

Regional Split

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Type Split

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

Form Split

  • Liquid
  • Powder
  • Other Forms

Modality Split

  • X-ray
  • Computed Tomography
  • Magnetic Resonance Imaging
  • Ultrasound

Route of Administration Split

  • Intravascular Route
  • Oral Route
  • Rectal Route
  • Other Routes of Administration

Indication Split

  • Cardiovascular Diseases
  • Cancer
  • Gastrointestinal Disorders
  • Musculoskeletal Disorders
  • Neurological Disorders
  • Nephrological Disorders

Application Split

  • Radiology
  • Interventional Radiology
  • Interventional Cardiology

End User Split

  • Hospital, Clinics, and Ambulatory Surgical Centers
  • Diagnostic Imaging Centers

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Key Market Stakeholders:

  • Senior Management
  • End User
  • Finance/Procurement Department
  • R&D Department

Report Objectives:

  • To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To define, describe, segment, and forecast the contrast media market by type, form, modality, route of administration, indication, application, end user, and region
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall contrast media market
  • To forecast the size of the contrast media market in four main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific and Rest of the World
  • To profile key players in the contrast media market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments, such as product launches and approvals; expansions; and collaborations, of the leading players in the contrast media market
  • To benchmark players within the contrast media market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy

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