What is the global market size of the Contrast Media Market?

Global Contrast Media Market size was valued at USD 2.98 billion in 2021 and is poised to grow from USD 3.1 billion in 2022 to USD 4.2 billion by 2030, growing at a CAGR of 4.01% in the forecast period (2023-2030).

Who are the key vendors in the Global Contrast Media Market?

To increase their market share in the market, major firms are implementing tactics including collaborations, acquisitions, and mergers. They are also introducing new goods. ' GE Healthcare ', ' Bayer AG ', ' Bracco Imaging S.p.A. ', ' Lantheus Medical Imaging ', ' Daiichi Sankyo Company, Limited ', ' Guerbet LLC ', ' Nanopet Pharma GmbH ', ' Unijules Life Sciences Ltd. ', ' Taejoon Pharm Co., Ltd. ', ' J.B. Chemicals & Pharmaceuticals Ltd. ', ' Jiangsu Hengrui Medicine Co., Ltd. ', ' Nordion Inc. ', ' Subhra Pharma Private Limited ', ' Unison Pharmaceuticals Pvt. Ltd. ', ' Zydus Cadila Healthcare Ltd. ', ' Jodas Expoim ', ' Nano Therapeutics Pvt Ltd ', ' Sino Radiopharmaceuticals Co., Ltd. ', ' MALLINCKRODT PHARMACEUTICALS '

Contrast Media Market Size, Share, Growth Analysis, By Type(Iodinated Contrast Media, Gadolinium-based Contrast Media, Microbubble Contrast Media, Barium-based Contrast Media), By Form(Liquid Contrast Media, Powder Contrast Media, Other Forms), By Modality(X-RAY, CT, MRI, Ultrasound), By Route of Administration(Intravascular Route [Intravenous (IV) route, Intra-arterial (IA) route], Oral Route, Rectal Route), By Indication(Cardiovascular Disease, Cancer, Gastrointestinal Disorders, Musculoskeletal Disorders), By Application(Radiology, Interventional Radiology, Interventional Cardiology), By End User(Hospitals, Clinics, And Ambulatory Surgery Centers, Diagnostic Imaging Centers), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35B2070 | Region: Global | Published Date: September, 2024
Pages: 260 | Tables: 91 | Figures: 75

Contrast Media Market Dynamics

Contrast Media Market Drivers

Rise in Chronic Illness to Bring Lucrative Opportunities during Forecast Period

The demand for diagnostic imaging treatments and, consequently, contrast media has significantly increased as a result of the growing incidence of chronic illnesses throughout the world. In order to provide new goods to the market and get the contrast media authorized for new indications, contrast media makers have been doing substantial R&D as a consequence of the rising demand for imaging operations. For instance, the 20-vial pack design of the ultrasound contrast agent Lumason was approved by the US FDA in 2021 for use by Bracco.

Contrast Media Market Restraints

Allergic Reaction caused by Contrast Media to Hinder its Market Growth

Contrast agents can be used safely in a variety of diagnostic techniques, including MRI and CT scans. However, some of the adverse effects and allergic responses linked to their usage might somewhat restrain market expansion. Their negative reactions might range from moderate to severe; nevertheless, severe reactions and major allergic reactions to contrast agents are quite infrequent.

Contrast Media Market Report Snapshots

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Global Contrast Media Market size was valued at USD 6.10 billion in 2022 and is poised to grow from USD 6.55 billion in 2023 to USD 11.60 billion by 2031, growing at a CAGR of 7.4% during the forecast period (2024-2031).

To increase their market share in the market, major firms are implementing tactics including collaborations, acquisitions, and mergers. They are also introducing new goods. 'GE Healthcare (US) ', 'Bracco Imaging S.p.A. (Italy) ', 'Bayer AG (Germany) ', 'Guerbet (France) ', 'Lantheus Medical Imaging (US) ', 'Unijules Life Sciences Ltd. (India) ', 'J.B. Chemicals & Pharmaceuticals Limited (India) ', 'Taejoon Pharm Co., Ltd. (South Korea) ', 'Jodas Expoim (India) ', 'Imax Diagnostic Imaging Limited (Ireland) ', 'Yangtze River Pharmaceutical Group (China) ', 'Livealth Biopharma (India) ', 'Beijing Beilu Pharmaceutical Co., Ltd. (China) ', 'Unispire Biopharma Private Limited (India) ', 'Arco Lifesciences (I) Pvt. Ltd. (India) ', 'Stanex Drugs & Chemicals Pvt. Ltd. (India) ', 'Rege Imaging & Cine Films Private Limited (India) ', 'K Diam Exim (India) ', 'Onko Ilaç San. ve Tic. A.S. (Turkey) ', 'Fresenius Kabi (Germany) ', 'Biem Ilaç San. ve Tic. A.S. (Turkey) ', 'Advacare Pharma (US)'

The demand for diagnostic imaging treatments and, consequently, contrast media has significantly increased as a result of the growing incidence of chronic illnesses throughout the world. In order to provide new goods to the market and get the contrast media authorized for new indications, contrast media makers have been doing substantial R&D as a consequence of the rising demand for imaging operations. For instance, the 20-vial pack design of the ultrasound contrast agent Lumason was approved by the US FDA in 2021 for use by Bracco.

A kind of intravenous radiocontrast (radiographic dye) called iodinated contrast medium makes vascular systems and organs more visible during radiographic operations. The iodinated contrast has aided in the identification of disorders like cancer by improving visibility. The 2, 4, and 6 tri-iodinated benzene rings were chemically modified to create the iodinated contrast media that are currently in use.

North America held the largest share of the global contrast media market in 2021. It was roughly 44.44%. This is expected to change as a result of numerous strategic initiatives done by important manufacturers to target certain patient subgroups in this area. GE Healthcare, Guerbet, Lantheus, and Bracco Diagnostics are some of the major market participants.

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Contrast Media Market Dynamics

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