Contrast Media Agents Market is expected to reach US$ 6,860.6 Mn with a CAGR of 4.0% Till-2027 By General Electric, Bayer AG, Bracco, Guerbet, Lanthus Medical Imaging Inc., nanoPET Pharma GmbH, Unijules Life Sciences Ltd., Magnus Health Management Pvt. Lt

According to The Insight Partners market research study titled ‘Contrast Media Agents Market to 2027 – Global Analysis and Forecasts by Type, Imaging Modality, Indication, Route of Administration and Geography. The Global Contrast Media Agents Market is expected to reach US$ 6,860.6 Mn in 2027 from US$ 4,855.2 Mn in 2018. The market is estimated to grow with a CAGR of 4.0% from 2019-2027. The report highlights the trends prevalent in the global contrast media agents market and the factors driving the market along with those that act as challenges to its growth.

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Market Insights

Developments in Diagnostic Imaging Modalities Coupled with Rising Number of Diagnostic Tests Procedures

Medical imaging has become essential to medical care and treatment across the globe. Rising awareness regarding early diagnosis of diseases have led to increase in the total number of diagnostic tests procedures performed across the globe. In 2012, Canadians underwent 1.7 million magnetic resonance imaging (MRI) exams and 4.4 million computed tomography (CT) exams. This represents nearly double the number of such exams performed in 2003. In 2014-15, the national rate for CT scans was 126 per 1,000 people. Rates ranged from highs of 209 (New Brunswick) and 170 (Newfoundland and Labrador) to lows of 88 (Alberta) and 93 (Prince Edward Island). Moreover, according to the National Health Services (NHS) UK, there were 4.1 million imaging tests reported in England in the 12 months from February 2016 to January 2017. Of these, 3.49 million imaging tests were reported to have taken place in January 2017.

Growth Opportunities in The Developing Nations

The number of chronic non-communicable disease are rising across the globe, the prevalence is significantly rising among the developing nations across the globe. The incidences are rising due to the shift in the lifestyle and the other health conditions sue to the change in the adoption of the modernized facilities. The modernized facilities reduced the physical activities, the stress level among the people are also rising. This is expected to be a leading factor to support rising demand for the contrast media agents, with generating patient awareness regarding taking preventive measures as well as benefits of early diagnosis. The developing nations are significantly developing their healthcare facilities and services and are heading towards the technological advancements. With increasing costs of manufacturing against their practices, the medical device manufacturers are struggling to generate enough revenue to please their investors. The emerging markets in the developing economies are expected to be the crucial factor offering better and lucrative growth opportunities for the major players to expand their business and geographic reach.

End User Insights

The global contrast media agents market by route of administration segments was led by intravascular segment. In 2018, the intravascular held a largest market share of 80.3% of the contrast media agents market, by route of administration. This segment is also expected to be the fastest growing segments of the market in 2027 owing to wide use of the contrast media injection and its advantages of delivering injection at any part of the body which is becoming the major factor for the growth of the contrast media agents market.

Strategic Insights

Organic and inorganic growth strategies were observed in global contrast media agents industry. For instance, in April, 2019, Lantheus Medical Imaging, Inc. entered into a strategic collaboration with Cerevast Medical, Inc. identify new applications for its microbubble franchise and expand into new disease areas, such as ocular diseases. Thus, the inorganic strategy has enabled the company to grow its business in the market.

Global contrast media agents market was segmented by type, imaging modality, indication and route of administration. The type segment was classified as iodinated contrast media, gadolinium based contrast media, barium-based contrast media, microbubble contrast media. Based on the imaging modality the market is classified as X-Ray/CT, magnetic resonance imaging and ultrasound. On the basis of indication the market is classified as cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, nephrological disorders. And based on the route of administration the market is divided into intravascular, oral and rectal.

The market for contrast media agents is expected to grow significantly due to factors such as increasing prevalence of chronic diseases, development of diagnostic imaging modalities, rising number of diagnostic tests performed, and increasing number of approvals for contrast agents are expected to accentuate the growth of the market. However, the factors such as rigorous regulations for radio-imaging agents and side effects associated with contrast media leading to adverse health conditions are likely to act as restraining factors for the contrast media agents market.

The major players operating in the contrast media agents market include, General Electric, Bayer AG, Bracco, Guerbet, Lanthus Medical Imaging Inc., nanoPET Pharma GmbH, Unijules Life Sciences Ltd., Magnus Health Management Pvt. Ltd, j. B Chemicals and Pharmaceutical Ltd and Jodas Expoim. The market has carried out various organic growth strategies in the market which has assisted in strengthening their product offering in the market.

The report segments the global contrast media agents market as follows:

Global Contrast Media Agents Market – By Type

Iodinated Contrast Media
Gadolinium Based Contrast Media
Barium Based Contrast Media
Microbubble Contrast Media

Global Contrast Media Agents Market – By Imaging Modality

X-ray/CT
Magnetic Resonance Imaging
Ultrasound

Global Contrast Media Agents Market – By Indication

Cardiovascular Disorders
Cancer
Gastrointestinal Disorders
Musculoskeletal Disorders
Neurological Disorders
Nephrological Disorders

Global Contrast Media Agents Market – By Route of Administration

Intravascular
Oral
Rectal

Global Contrast Media Agents Market – By Geography

North America
U.S
Canada
Mexico
Europe
France
Germany
U.K
Italy
Spain
Asia Pacific
China
India
Japan
Australia
South Korea
Middle East & Africa
Saudi Arabia
UAE
South Africa
South & Central America
Brazil
Argentina

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