Redding, California, June 08, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Microbubbles/Ultrasound Contrast Agents Market by Application (Diagnostic Imaging [Cardiovascular, Renal, Abdominal, Breast] Therapeutics) Type (Lipid, Protein, Polymer) End User (Hospitals & Clinics, Diagnostics Laboratories)- Global Forecast to 2030,’ published by Meticulous Research®, the microbubbles/ultrasound contrast agents market is projected to reach $1.95 billion by 2030, at a CAGR of 15.2% from 2023 to 2030.
Ultrasound contrast agents are gas-filled microbubbles that are used to improve the capabilities of diagnostic imaging. They play an important role in ultrasound imaging and ultrasound-mediated therapy. Microbubble contrast agents are giving new avenues for therapeutic applications of ultrasound in drug delivery, gene therapy, and thrombolysis.
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The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry in the last three to four years. The global microbubbles/ultrasound contrast agents market has witnessed several strategic developments in recent years.
The high demand for image & diagnostics-guided procedures, the growing aging population, coupled with the rising prevalence of chronic diseases, technological advances in ultrasound imaging, and favorable reimbursement policies for contrast-enhanced procedures are driving the growth of this market. In addition, increasing microbubbles/ultrasound contrast agents-related research activities will likely offer better opportunities for market growth. However, the complexity involved in contrast-enhanced Ultrasound (CEUS) is expected to restrain the market's growth to some extent.
Aging Population Coupled with the Increasing Prevalence of Chronic Diseases to Drive the Demand for Microbubbles/Ultrasound Contrast Agents
Chronic diseases such as cardiovascular diseases, osteoarticular problems, sleep and mobility disorders, diabetes, and chronic ischemic heart disease is a major and common concern among the elderly population. They can lead to limitations in mental and physical abilities, hospitalization, and increased healthcare expenditures.
Osteoporosis is a common condition in the elderly population that can be detected using ultrasound. However, chronic diseases such as diabetes and cardiovascular disease can also affect bone health and may lead to false-positive results on ultrasound. Thus, it is important to consider the presence of chronic diseases in the elderly population when interpreting the ultrasound results.
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According to the World Population Ageing 2020 report released by the Department of Economic and Social Affairs, United Nations, globally, there were 727 million people aged 65 or above in 2020. It is estimated that by 2050 this number will reach 1.5 billion.
The aging population drives a rise in the number of people suffering from chronic diseases. Having an ultrasound near the bed is incredibly useful to older people who cannot move easily or may be anxious to travel to another setting. This increases the demand for ultrasound procedures for older adults. Ultrasound technology can be used for evaluating several disorders, such as bone health and diagnosing heart disease, which may lead to an increased demand for ultrasound in the geriatric population.
Hence, the aging population will likely increase the demand for microbubbles/ultrasound contrast agents due to growing utilization, the rising prevalence of chronic diseases, and the increased demand for healthcare services.
Microbubbles/Ultrasound Contrast Agents Market: Future Outlook
The microbubbles/ultrasound contrast agents market is segmented by type [lipid microbubbles, protein microbubbles, polymer microbubbles], application [diagnostics imaging {cardiovascular imaging, renal imaging, abdominal imaging, breast imaging, other diagnostics imaging applications}, therapeutic applications], end user (hospitals & clinics, diagnostics laboratories, other end users], and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Based on type, the microbubbles/ultrasound contrast agents market is segmented into lipid microbubbles, protein microbubbles, and polymer microbubbles. The lipid microbubbles segment is expected to account for the largest share of the market in 2023. Lipid-based microbubbles ultrasound imaging with contrast agents has become an essential tool in clinical diagnostics. It is applied in drug delivery systems which are the materials working for soft synthetic shells. These lipid shells offer several ways to support additional functions over increased contrast, such as minimally-invasive detection of biochemical signatures. Additionally, improved ultrasound imaging technology and safety & security support the largest share of the segment.
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Based on application, the microbubbles/ultrasound contrast agents market is segmented into diagnostics imaging and therapeutic applications. Diagnostic imaging is expected to account for the largest share of the microbubbles/ultrasound contrast agents market in 2023. The large market share of this segment is attributed to the technological developments in specialized application modalities, increasing awareness among people regarding early diagnosis, and the rising prevalence of chronic diseases, including cardiovascular diseases such as heart failure and coronary artery disease are the major causes of premature death every year. For instance, according to the Centers for Disease Control and Prevention, in 2020, about 523 million people had some form of cardiovascular disease and nearly 19 million deaths were caused globally.
Based on end user, in 2023, the hospitals & clinics segment is expected to account for the largest share of the microbubbles/ultrasound contrast agents market. People prefer visiting hospitals for treatment as hospitals or clinics have well-established infrastructure. Most people regained the accessibility of healthcare facilities and started visiting hospitals for routine checkups or testing, contributing to the large market share of the segment.
Based on geography, the microbubbles/ultrasound contrast agents market is segmented into North America, Europe, Asia-pacific, Latin America, and Middle East & Africa. In 2023, North America is expected to account for the largest share of the microbubbles/ultrasound contrast agents market. The large market share of this segment is primarily due to the aging population and increasing prevalence of chronic diseases, advanced healthcare systems in the U.S. and Canada, accelerated growth of economies and high adoption of advanced technologies.
Some of the key players operating in the microbubbles/ultrasound contrast agents market are Lantheus Holdings, Inc. (U.S.), GE HealthCare Technologies Inc. (U.S.), Bracco S.p.A. (Italy), Bristol-Myers Squibb Company (U.S.), Daiichi Sankyo Company, Limited (Japan), nanoPET Pharma GmbH (Germany), Leriva (Greece), Siemens Healthineers AG (Germany), Bayer AG (Germany), and Fujifilm Holdings Corporation (Japan).
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Scope of the Report:
Microbubbles/Ultrasound Contrast Agents Market Assessment - by Type
- Lipid Microbubbles
- Protein Microbubbles
- Polymer Microbubbles
Microbubbles/Ultrasound Contrast Agents Market Assessment - by Application
- Diagnostics Imaging
- Cardiovascular Imaging
- Renal Imaging
- Abdominal Imaging
- Breast Imaging
- Other Diagnostics Imaging Applications
- Therapeutics Applications
(Note: Other diagnostics imaging applications include cancer and ocular)
Microbubbles/Ultrasound Contrast Agents Market Assessment - by End User
- Hospitals & Clinics
- Diagnostics Laboratories
- Other End Users
(Note: Other end users include pharmaceutical & biotech companies, research & academic institutes, and government laboratories)
Microbubbles/Ultrasound Contrast Agents Market Assessment- by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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