Reports And Data

Market Size – USD 5.10 Billion in 2020, Market Growth – at a CAGR of 3.6%, Market Trends- Increasing focus on developing advanced contrast agents

NEW YORK, NY, UNITED STATES, April 14, 2022 /EINPresswire.com/ -- The global contrast media market is expected to reach USD 6.79 Billion in 2028 and register a steady revenue CAGR of 3.6% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rising prevalence of cardiovascular diseases, increasing awareness about early detection of asymptomatic heart diseases, and growing investments by various public and private sectors. 

Contrast media, also known as contrast material or contrast agents, are substances that are used to enhance the contrast resolution of imaging modalities such as ultrasound, CT scan, MRI, and X-rays and help healthcare professionals distinguish between abnormal and normal health conditions. Some of the commonly used contrast agents are iodinated, barium-based, gadolinium-based, and microbubble that are injected into the body through contrast media injectors via different routes of administration. High demand for various contrast agents is attributed to rising prevalence of various chronic diseases such as types of cancer, neurological diseases, and cardiovascular disorders. Other factors driving global market revenue growth are rapid advancements in image-guided diagnostic procedures, improving healthcare infrastructure, and rising number of hospitals, diagnostic centers, and ambulatory care services. Moreover, high focus on developing cost-effective and enhanced contrast agents and increasing investments in research and development activities are expected to fuel market revenue growth going ahead. 

However, increasing risks of mild to adverse side effects associated with contrast agents, lack of favorable reimbursement policies, and dearth of skilled professionals to operate advanced diagnostic equipment are key factors that can hamper global market growth during the forecast period. In addition, unavailability of latest healthcare facilities in some underdeveloped countries owing to budget constraints could restrain market revenue growth going ahead.

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Some Key Highlights from the Report:

Among the modality type, the ultrasound segment is expected to register rapid revenue growth over the forecast period owing to increasing prevalence of diseases related to liver, kidney, and cancer, availability of advanced ultrasound devices in many hospitals and diagnostic centers, and increasing number of ultrasound examinations.  

Based on application, the cancer segment is expected to register rapid revenue CAGR between 2021 and 2028 owing to increasing prevalence of cancer globally, increasing number of ultrasound and MRI examinations, rising awareness about early diagnosis, availability of advanced diagnostic modalities, and increasing approvals for cancer contrast agents.   

Based on end use, the hospital segment is expected to account for significantly large revenue share during the forecast period owing to increasing cases of chronic illnesses globally, increasing healthcare spending, and high demand for advanced imaging tools and equipment. 

The contrast media market in North America accounted for largest revenue share in 2020, owing to factors such as increasing prevalence of various chronic diseases, presence of well-developed healthcare systems, and rapid advancements in contrast agents and imaging tools. Rising number of product approvals, availability of advanced diagnostic equipment in hospitals, ambulatory care, and diagnostic centers, and increasing investments in research and development activities are other factors fueling North America market growth.

Asia Pacific market is expected to register rapid revenue CAGR over the forecast period. This growth is attributed to factors such as increasing cases of cardiovascular diseases, gastrointestinal diseases, neurological disorders, and cancer, rising healthcare spending, and improving healthcare infrastructure. Other factors such as increasing demand for advanced scanning and imaging modalities, rising disposable income, and increasing elderly population are fueling market growth in Asia Pacific. 

GE Healthcare, Bracco Imaging SPA, Bayer AG, Guerbet, Lantheus Medical Imaging, Inc., Unijules Life Sciences, J.B. Chemicals and Pharmaceuticals Ltd., Taejoon Pharmaceutical Co., Ltd., Jodas Expoim, Nano Therapeutics Pvt. Ltd., iMax Diagnostic Imaging Limited, Livealth Biopharma Pvt. Ltd., Trivitron Healthcare Pvt. Ltd., Novalek Pharmaceuticals Pvt. Ltd., Unispire Biopharma Private Limited, Congruent Pharmachem Private Limited, Stanex Drugs & Chemicals Pvt. Ltd., Beijing Beilu Pharmaceutical Co., Ltd., and Subhra Pharma Pvt. Ltd. are some key players profiled in the global contrast media market report.

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Contrast Media Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

Iodinated
Barium-based
Gadolinium-based
Microbubble

Modality Outlook (Revenue, USD Billion; 2018-2028)

X-ray/CT
MRI
Ultrasound

Route of Administration Outlook (Revenue, USD Billion; 2018-2028)

Intravascular Route
Oral Route
Rectal Route
Others

Application Outlook (Revenue, USD Billion; 2018-2028)

Cardiovascular Disorders
Neurological Disorders
Gastrointestinal Disorders
Cancer
Nephrological Disorders
Musculoskeletal Disorders
Others

End Use Outlook (Revenue, USD Billion; 2018-2028)

Hospitals
Clinics
Ambulatory Surgery Centers
Diagnostic Centers

Global Contrast Media Market Report: Regional Segmentation

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA

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Global Contrast Media Market: Table of Contents

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

       1.4.1. Primary Sources

       1.4.2. Secondary Sources

       1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

Chapter 3. Key Insights

Chapter 4. Global Pharma & Healthcare Market Segmentation 

4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis

4.2. Industrial Outlook

       4.2.1. Market indicators analysis

       4.2.2. Market drivers’ analysis

       4.2.3. Market restraints analysis

 4.3. Technological Insights

 4.4. Porter’s Five Forces Analysis

 4.5. Regulatory Framework

 4.6. Price trend Analysis

 4.7. Competitive Metric Space Analysis

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Frequently Asked Questions Answered in the Report:

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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