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With ~20% CAGR | Ultrasound Contrast Agents Market | Grow by Outlook 2030

Ultrasound Contrast Agents Market

Ultrasound Contrast Agents Market

The ultrasound contrast agents market is expected to grow with a high CAGR of ~20% during the forecast period, i.e., 2022-2030.

NEW YORK CITY, NEW YORK, UNITED STATES, October 31, 2022 / -- Research Nester released a report titled “Ultrasound Contrast Agents Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global ultrasound contrast agents market in terms of market segmentation by therapeutic area, applications, end-user and region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global ultrasound contrast agents market is projected to grow with a high CAGR of ~20% during the forecast period, i.e., 2022-2030 on account of the increasing elderly population and the rising prevalence of chronic diseases, including cancer and cardiovascular diseases. According to the data by WHO, cancer is the leading cause of deaths globally, and is responsible for about 10 million deaths per year. Globally, about 1 in 6 deaths is due to cancer.
Moreover, the growing necessity for modification of imaging technology for surgeries, has led to the development of unique methods of processing, data acquisition, and display of the images. This is further estimated to drive the market growth.

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The global ultrasound contrast agents market is segmented by therapeutic area into cardiovascular diseases, renal associated diseases, and others. Among these segments, the cardiovascular disease segment is expected to witness significant growth by the end of 2030 in the ultrasound contrast agents market as a result of the increasing prevalence globally. According to the World Health Organization, in 2019, 17.9 million deaths were caused by CVDs, representing 32% of all global deaths. Out of these, 85% were caused by heart attack and stroke. The global prevalence of stroke was 104.2 million. Increasing number of cardiovascular diseases across the globe are expected to drive the segment growth.

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the market in the Asia Pacific is expected to grow at the highest CAGR over the forecast period, owing to the large share of geriatric population, along with development in the healthcare sector. The North American market is foreseen to hold the largest market share by the end of 2022. This can be attributed to the presence of leading healthcare service providers in the region, particularly in the United States, who are extensively involved in the innovation of new products by investing in research and development. Moreover, rising incidence of cancer and other chronic diseases in the region is anticipated to boost the market growth in the region. According to the report published by the National Cancer Institute, in 2020, 1.8 million new cancer cases were registered in the United States.

Increasing Prevalence of Cardiovascular Disease and Growing Number of ultrasound Examinations to Drive Market Growth

According to the American Heart Association, in 2017, 868,662 deaths occurred in the United States due to cardiovascular diseases (CVDs), and it has been listed as one of the underlying causes of death in the region. In 2018, across the United States, coronary heart disease accounted for 42.1% of deaths, followed by stroke 17%, high blood pressure 11%, heart failure 9.6%, disease of arteries 2.9%, and other CVDs 17.4% in 2018.

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Increasing demand for better diagnostic procedure to diagnose chronic diseases at an early stage, and the rise of new screening technologies are some of the vital factors that drive the growth of the global ultrasound contrast agents market. However, the allergic reaction and side effects of ultrasound contrast agents and their short life span are estimated to restrain market growth in the near future.

This report also provides the existing competitive scenario of some of the key players of the global ultrasound contrast agents market which includes company profiling of Bristol-Myers Squibb, GE Healthcare, Lantheus Holdings, Inc., Bracco Diagnostic Inc., Siemens Healthcare GmbH, Mindray Medical International Limited, Merck & Company, Inc., AstraZeneca Plc. Daiichi Sankyo Company, Nano Therapeutics Pvt Ltd, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ultrasound contrast agents market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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