Contrast Media Market Worth $9.7 Billion | MarketsandMarkets(TM).

CHICAGO, Feb. 20, 2024 /PRNewswire/ -- 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 new report by MarketsandMarkets(TM). Growth in the contrast media market is mainly driven by the rising number of diagnostic centers and hospitals, growing approvals of contrast media, and availability of reimbursement. Increasing research on contrast media and growth opportunities in emerging economies also contribute to the growth of the market. In addition, emerging markets such as India and China are expected to offer growth opportunities for players operating in the contrast media market during the forecast period. However, side effects associated with the use of contrast media are restricting the growth of this market.

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Browse in-depth TOC on "Contrast Media Market"

    --  253 - Tables
    --  41 - Figures
    --  278 - Pages

Contrast Media Market Scope:

                 Report Coverage 

      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  

     Forecast Period            

     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 Opportunities   
     Increase in number of clinical trials

      Key Market Drivers         
     Growing preference of digital data collection and analysis

In 2022, the iodinated contrast media segment held the largest share of the contrast media market, by type segment.

Based on type, the global contrast media market is categorized 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 procedures that require the use of iodinated contrast media, owing to benefits such as their versatility and their capacity to be used across multiple modalities such as X-ray and CT.

In 2022, the cardiovascular diseases segment held the largest share of the contrast media market, by indication segment.

By indication, the contrast media market has been segmented into cardiovascular diseases, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders. The large share of cardiovascular diseases indication is attributed to factors rising prevalence of CVD diseases across the globe, coupled with the rise in awareness regarding early diagnosis of diseases.

North America dominates the global contrast media market.

Based on the region, the contrast media market is segmented into North America, Europe, Asia Pacific, and Rest of the world. In 2022, North America accounted for the largest contrast media market share. The large share of the region in the global market can be attributed to the increasing prevalence of chronic conditions and rising healthcare spending. Moreover, presence of key players and number of developments undertaken are helping the region gain a reasonable share in the market.

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Contrast Media Market Dynamics:


1. Increasing prevalence of chronic medical conditions


1. Side effects associated with the use of contrast media


1. Increasing research on contrast media


1. Dearth of trained professionals

Key Market Players of Contrast Media Industry:

The major players operating in this market are 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 Ilaç San. ve Tic. A.S. (Turkey), and AdvaCare (US).

The break-up of the profile of primary participants in the contrast media market:

    --  By Company Type: Tier 1 - 35%, Tier 2 - 40%, and Tier 3 - 25%
    --  By Designation: C-level - 45%, D-level - 29%, and Others - 26%
    --  By Region: North America - 35%, Europe - 27%, Asia Pacific - 32%, Rest
        of the World- 6%

Recent Developments of Contrast Media Industry:

    --  In October 2023, The European Commission granted Guerbet marketing
        authorization (MA) for Elucirem (Gadopiclenol) following the positive
        opinion from the European Medicines Agency's Committee for Medicinal
        Products for Human Use (CHMP).
    --  In April 2023, GE HealthCare expanded its contrast media portfolio by
        introducing Pixxoscan (gadobutrol), a macrocyclic, non-ionic magnetic
        resonance imaging (MRI) gadolinium-based contrast agent (GBCA).
        Pixxoscan underwent regulatory review via a decentralized procedure
        (DCP), securing marketing authorization in Austria.
    --  In September 2022, The company received FDA approval for the VUEWAY
        Gadopiclenol contrast media injection for use in adult and pediatric
        patients aged two years and older during magnetic resonance imaging
        (MRI) scans.
    --  In December 2021, Bracco Diagnostics entered into a collaboration
        agreement with Guerbet for the production and research related to
        Gadopiclenol, a high-relaxivity macrocyclic contrast agent.
    --  In March 2021, Guerbet and Bracco Imaging entered into a global
        strategic collaboration agreement for Gadopiclenol. The companies will
        collaborate on manufacturing, research, and development for potential
        future indications. Upon regulatory approval, they will independently
        commercialize Gadopiclenol, an investigational GBCA, under separate

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Contrast Media Market - Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall contrast media market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

    --  Analysis of key drivers (rising prevalence of chronic diseases, rising
        volume of CT and MRI examinations performed, growing number of approvals
        of contrast media, and rising number of diagnostic centers and
        hospitals), restraints (Side-effects and risks of allergic reactions
        associated with contrast media), opportunities (development of generic
        contrast media and increasing research on contrast media), and
        challenges (preference of alternative modalities that do not need
        contrast media and dearth of trained professionals) influencing the
        growth of the contrast media market
    --  Product Development/Innovation: Detailed insights on research &
        development activities, and new product launches and approvals in the
        contrast media market.
    --  Market Development: Comprehensive information about lucrative markets -
        the report analyses the contrast media market across varied regions.
    --  Market Diversification: Exhaustive information about new products,
        untapped geographies, recent developments, and investments in the
        contrast media market
    --  Competitive Assessment: In-depth assessment of market shares, growth
        strategies and service offerings of leading players like GE HealthCare
        (US), Bracco Imaging S.p.A. (Italy), Bayer AG (Germany), Guerbet
        (France), Lantheus Medical Imaging (US) among others in the contrast
        media market strategies.

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