- Gadolinium-based contrast media
- Iodinated contrast media
- Barium-based contrast media
- Microbubble contrast media
Contrast Media Market size was valued at USD 5.2 billion in 2022 and is expected to reach a value of USD 6.1 billion by 2029, witnessing a CAGR of 3.8% from 2023-2029. Contrast media are the agents used in medical imaging techniques for improving the contrast of structures or fluids in the body to help the better image of anatomical structures. Contrast media are commonly used in various imaging techniques such as Computerized Tomography (CT), X-ray, MRI scans, and ultrasound techniques. The most commonly used contrast media are iodine and gadolinium-containing contrast media. An increase in the prevalence of cardiovascular, neurological, cancer, and other chronic diseases, a rise in technological advancements in the Contrast Media Market such as syringeless power injectors, and growing usage of MRI, CT, and echocardiogram in the diagnosis of various diseases are anticipated to fuel the contrast media market over the forecast period. Moreover, approvals of the novel contrast agents, a rise in the public-private partnership for establishing diagnostic centers, product pipeline (In May 2016, Dotarem sponsored by Guerbet is in Phase 3 clinical trials), an increase in R&D activities for developing various contrasting agents also expected to boost the contrast media market. However, the adverse effects associated with the contrast media, lower adoption in underdeveloped economies, and lack of reimbursement policies are the factors hindering the growth of the contrast media market.
Fastest Growing Market
Contrast media market is growing at a significant CAGR owing to increase in the prevalence of chronic diseases and upsurge in the adoption of various diagnostic techniques such as CT, MRI, X-ray and ultrasound in the wide range of applications. Companies are focusing on the R&D activities for the development of newer contrast agents for improving the contrast of the images. Acquisitions and mergers, product approvals, and product launchings are the strategies followed by the companies for increasing their revenue. For instance, in May 2016, FDA approved the Gadavist injection manufactured by Bayer used with magnetic resonance angiography of the supra-aortic artery. Moreover, in 2015, Guerbet has acquired Mallinckrodt’s contrast media and delivery systems for the diversification of business segment.
The contrast media market size was valued at USD 5.2 billion in 2022
The contrast media market key players are: GE Healthcare (U.S.), Bayer AG (Germany), Guerbet Group (France), Daiichi Sankyo (Japan), Bracco Imaging S.p.A. (Italy), Medtronic plc. (Ireland), Spago Nanomedical AB (Sweden), nanoPet Pharma GmbH (Germany), and Lantheus Medical Imaging Inc. (U.S.)
The contrast media market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.