Contrast Media / Contrast Agents Market Overview and Introduction

Global Contrast Media / Contrast Agents Market is estimated to be over US$ 4.7 Billion in 2018. It is anticipated to grow at a 3.8% CAGR from 2019 to 2030.

Contrast agents are chemical products used in diagnostic imaging procedures. Contrast agents provide better images of body structures and organs when they are visualized during medical procedures using as X-ray, computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound imaging modality. These chemicals provide better images and help in diagnosis of disorders

The growth global contrast media market can be attributed to increasing number of approvals for contrast agents by regulatory authority, rise in number of public and private diagnostic centers, and rapidly growing global cancer population. The increasing number of research and funding activities for research using contrast agents and their applications provides immense opportunities for companies in the market. However, factors such as the side effects, allergic reactions, and adverse effects associated with contrast agents in patients are likely to restrain the market to a certain extent.

Contrast Media / Contrast Agents Market by Modality

On basis of imaging modality, the market is segmented into X-ray/ CT, MRI, and ultrasound procedures. X-ray/ CT procedures are expected to command the largest share of the global contrast media market. However, the ultrasound segment is expected to grow at a higher CAGR during the forecast. Growth in the ultrasound segment can be attributed to the several advantages of ultrasound over conventional and rising number of approvals in U.S., Europe, and Japan related to ultrasound contrast agents.

Contrast Media / Contrast Agents Market by Route of Administration

Based on route of administration, the market is categorized into oral, intravascular, rectal, and other routes. The intravascular route for contrast media segment is expected to command the largest share of the contrast agents market. This segment is also expected to grow at the highest CAGR during the forecast. Growth in this segment can be attributed to advancements in CT and MRI imaging technologies that are major users of injectable contrast media.

Contrast Media / Contrast Agents Market by Indication

On basis of indication, the market is categorized into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders. The cardiovascular segment is expected to command both the largest share and highest CAGR during the forecast period of the contrast agents market. The largest share and highest CAGR of the segment can be attributed to technological advancements in cardiac MRI procedures, favorable reimbursement policies for contrast media used in cardiovascular diagnosis, and strong healthcare infrastructure in US, & European regions

Contrast Media / Contrast Agents Market by Application

Based on application, the market is segmented into radiology, interventional radiology, and interventional cardiology. Radiology is expected to command the largest share of the global contrast media market. However, the interventional cardiology segment is expected to grow at higher rate. Growth of the interventional cardiology segment can be attributed to factors such as rising number of patients with cardiovascular diseases and rising demand for minimally invasive surgical procedures across the globe.

Contrast Media / Contrast Agents Market by Regions

The global Contrast Media market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market, followed by Europe and Asia Pacific. North American market is expected to account for a largest share of the global contrast agents market. European market is expected to grow at the highest CAGR during the forecast period.

Contrast Media / Contrast Agents Market Prominent Players

The prominent players in the global contrast agent market are GE healthcare, Bayer, Bracco Diagnostics, Guerbet. Other prominent players in the market are Lantheus, J.B. Chemicals and Pharmaceuticals, Daiichi Sankyo, Taejoon Pharm, and Jodas among others