Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- The "MRI Contrast Media Agents Market Size, Share & Trends Analysis Report By Product (Paramagnetic Agents, Superparamagnetic Agents), By Application, By End-use, By Type, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global MRI contrast media agents market size is expected to reach USD 3.42 billion by 2030, registering a CAGR of 7.15% during the forecast period.
The factors anticipated to propel the growth include the rising prevalence of chronic diseases and the rising demand for early diagnosis. It is anticipated that the increasing number of clinical trials to determine the efficacy and efficiency of MRI contrast media agents in various clinical applications will spur market expansion.
According to WHO, chronic diseases will account for three-quarters of all deaths worldwide by 2020. Prevention of chronic diseases is possible if patients are diagnosed and treated early. However, to date, only four companies, Bayer AG, GE Healthcare LLC, Guerbet GmbH, and Bracco Imaging SpA are actively involved in the manufacture of MRI contrast agents, which creates tremendous opportunities for small businesses as well as the largest organization.
The early diagnosis of chronic diseases, such as cancer, cardiac diseases, and neurological disorders, significantly increases prognosis by enabling on-time treatment. Cancer and cardiovascular diseases together result in the highest global mortality rate. This has captured the attention of various governments & healthcare organizations and is driving them to work toward creating awareness regarding these diseases.
Companies like Miltenyi Biotec B.V. & Co. Kg, Reveal Pharma, and others have developed contrast media agents and are currently in the preclinical stage. The efficacy, safety, and in vivo compatibility of contrast agent makes them critical for receiving FDA approval. Several government initiatives to develop modern healthcare centers and also provide financial support for new MRI machines are driving the growth of the MRI contrast media agents industry. However, the reduction in diagnostic scans during the COVID-19 pandemic, the halt of logistics, and the development of generic products contributed to a decline in the market in 2020 and 2021. However, it is expected to bounce back by late 2022.
MRI Contrast Media Agents Market Report Highlights
- The adoption of advanced imaging technologies is augmenting the growth of the MRI and MRI contrast media agents industry
- Paramagnetic agents are anticipated to be the fastest-growing segment during the forecast period due to the efficiency and wide adoption of these agents by radiologists
- MRI contrast media agents for neurological imaging dominated the market in 2022, due to the growing number of neurological diseases and increased demand for less invasive diagnostic procedures
- Hospital accounted for the largest share of the end-use segment in 2022, due to the treatment of chronic illnesses in the hospitals and high financial support
- Clinical research accounted for the largest share based on type, in 2022
- In 2022, North America dominated the global space with the largest revenue share, owing to continuous research and high adoption of advanced diagnostic techniques in the region
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.98 Billion |
| Forecasted Market Value (USD) by 2030 | $3.42 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.2 Penetration & Growth Prospect Mapping
3.2.1 Reimbursement framework
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Rising patient population
3.3.1.2 Technological advancement
3.3.1.3 Increasing awareness regarding early diagnosis
3.3.2 Market Restraint Analysis
3.3.2.1 High cost of MRI contrast media agents
3.4 Magnetic Resonance Imaging Market Analysis Tools
Chapter 4 Type Business Analysis
4.1 Definitions and Scope
4.1.1 Paramagnetic agents
4.1.2 Superparamagnetic agents
4.2 Product Market Share Analysis
4.3 Segment Dashboard
4.4 Global Magnetic Resonance Imaging Market by Product
4.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.6 Paramagnetic agents
4.7 Superparamagnetic agents
Chapter 5 Type Business Analysis
5.1 Definitions and Scope
5.1.1 Clinical
5.1.2 Preclinical
5.2 Type Market Share Analysis
5.3 Segment Dashboard
5.4 Global Magnetic Resonance Imaging Market by Type
5.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.5.1 Clinical
5.5.2 Preclinical
Chapter 6 Application Business Analysis
6.1 Definitions and Scope
6.2 Application Market Share Analysis
6.3 Segment Dashboard
6.4 Global Magnetic Resonance Imaging Market by Application
6.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.5.1 Gastrointestinal
6.5.2 Intravenous
6.5.3 Hepatobiliary
6.5.4 Neurological Imaging
6.5.5 Others
Chapter 7 End-use Business Analysis
7.1 Definitions and Scope
7.2 Type Market Share Analysis
7.3 Segment Dashboard
7.4 Global Magnetic Resonance Imaging Market by End-use
7.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.5.1 Hospitals
7.5.2 Imaging centers
Chapter 8 Magnetic Resonance Imaging Market: Regional Market Analysis, 2018 - 2030 (Value & Volume) (USD Million)
Chapter 9 Magnetic Resonance Imaging Market: Competitive Market Analysis
Companies Mentioned
- GE Healthcare
- Bayer AG
- Guerbet GmbH
- Bracco Imaging Spa
- Vitalquan, LLC
- Miltenyi Biotec B.V. & Co. Kg
For more information about this report visit https://www.researchandmarkets.com/r/3oigun
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