Contrast Media/Contrast Agent Market Size Is Projected to Rise $5.6 Billion by 2030, At a CAGR of 3.5% | Drivers, Restraints, and Emerging Opportunities for Growth from 2022 to 2030

Dallas, TX, March 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Contrast Media/Contrast Agent Market By Modality (X-Ray/CT, MRI, And Ultrasound), By Product Type (Iodinated, Barium-Based, Gadolinium-Based, And Microbubble), By Application (Cardiovascular Disorders, Neurological Disorders, Gastrointestinal Disorders, Cancer, Nephrological Disorders, Musculoskeletal Disorders, And Others), By Route Of Administration (Intravascular Route, Oral Route, Rectal Route, And Others), By End Use (Hospital, Clinics, Ambulatory Surgery Centers And Diagnostic Imaging Centers) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Contrast Media/Contrast Agent Market size & share in terms of revenue was valued at USD 4.1 billion in 2021 and it is expected to surpass around USD 5.6 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 3.5% during the forecast period 2022 to 2030.”

What is Contrast Media/Contrast Agent? How big is the Contrast Media/Contrast Agent Industry?

Contrast media, also known as contrast agents, are substances used to improve the visibility of internal organs and tissues during medical imaging procedures such as X-rays, CT scans, MRI, and ultrasound. They are typically injected into the patient's bloodstream or ingested orally, and their unique physical properties help to differentiate between different types of tissue, enhancing the clarity of the resulting images.

Report Overview:

The global contrast media/contrast agent market size was worth around USD 4.1 Billion in 2021 and is predicted to grow to around USD 5.6 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.5% between 2022 and 2030.

In medical imaging, a contrast medium or contrast agent is used to improve the contrast of internal body structures or fluids. As the picture contrast is enhanced, the anatomical organs and structures are imaged more clearly. As a result, it is highly useful in major surgeries as well as diagnostic procedures like CT scans. With a rise in surgical operations and imaging diagnosis, the market for contrast media, also known as contrast agents, is expanding quickly.

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Global Contrast Media/Contrast Agent Market: Growth Factors

Although the contrast media market is currently in its development stage, it will grow over the next few years. The rise in image-guided surgical procedures, improvements in diagnostic technologies, an increase in diagnostic imaging, and an increase in the prevalence of cancer and heart problems are some of the factors contributing to the market's expansion. The market is expanding as a result of factors including the increased acceptance of contrast agents and the rise in the number of diagnostic centers that have enhanced diagnostic imaging services.

Advanced methods, such as the use of a gas microbubble in MRI imaging, are projected to accelerate market expansion. However, the side effects and allergies related to the contrast agent pose a major challenge to the market growth during the forecast period.

The market growth is driven by factors such as the increasing prevalence of chronic diseases, rising demand for minimally invasive diagnostic procedures, and the increasing use of imaging techniques in cancer diagnosis and treatment. The market is also expected to benefit from the introduction of new and advanced contrast media formulations that offer improved safety, efficacy, and convenience for patients and healthcare providers.

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Report Scope

Contrast Media/Contrast Agent Market: Segmentation Analysis

The global contrast media/contrast agent market is segmented based on modality, product type, application, mode of administration, end-use, and region.

Based on the modality, the global market is bifurcated into X-ray/CT, MRI, and Ultrasound. The X-ray/CT segment accounted for the largest market share in 2021 and is expected to show its dominance during the forecast period. High-resolution 3D pictures of structures are produced with the aid of X-ray/CT contrast agents. In X-ray and CT procedures, barium-based and iodinated contrast fluids are used. When supplied or injected into the body, barium, and iodine contrast agents block X-rays and prevent the rays from passing through. Images of the body's organs, blood vessels, and other tissues that momentarily contain barium- or iodinated-based contrast agents alter as a result.

The widespread use of X-rays and CT for a variety of disorders is anticipated to propel market expansion. On the other hand, the ultrasound segment is expected to grow at the fastest CAGR during the forecast period. To see tissue microcirculation, contrast agents for ultrasound imaging have been created. Microbubbles are typically used as the modality's agents because they improve the blood's echogenicity, allowing for better imaging and evaluation of tissue vascularity, major veins, and heart cavities. The significant advantages that ultrasound contrast agents have over other imaging modalities are expected to drive the market's expansion.

Based on the product type, the global contrast media/contrast agent market is categorized into iodinated, barium-based, gadolinium-based, and microbubble. The iodinated segment is projected to hold the largest market share over the forecast period. The segment growth is attributed to the availability of nonionic stable iodinated chemicals as well as the strong penetration of X-ray and CT techniques that allow for enhanced diagnosis. Although iodinated contrast agents are often injected intravenously, barium-based agents may rarely be used instead for rectal and oral delivery. CT and X-ray images are enhanced using contrast materials with an iodine base.

They are utilized to improve the vision of the brain, GI tract, internal organs, arteries, and veins. Iodinated contrasting media are frequently used for several reasons, including cancer, gastrointestinal, cardiovascular, musculoskeletal, neurological, and nephrological problems.

Based on the application, the global contrast media/contrast agent is divided into cardiovascular disorders, neurological disorders, gastrointestinal disorders, cancer, nephrological disorders, musculoskeletal disorders, and others. The neurological disorders segment is expected to dominate the market during the forecast period. The use of MRI contrast agents is encouraged by the diagnostic assessment of the CNS for neurological disorders because they offer superior images of neural structures than CT.

Gadolinium-based contrast agents are used to see demyelinated, inflammatory, and neoplastic lesions. One in three MRIs include gadolinium-based contrast agents to improve picture quality, which increases diagnostic precision by making blood arteries, inflammation, and tumors more visible.

The most frequently utilized macrocyclic gadolinium-based contrast agents in the United States for the diagnosis of neurological diseases are Gadavist, Dotarem, and Prohance. To identify lesions with aberrant vascularity in the brain, spine, and related tissues, they are authorized for intravenous use in adults and pediatric patients, 2 years of age or older.

Based on the route of administration, the global market is segmented into an intravascular route, oral route, rectal route, and others.

Based on the end-use, the market is segmented into hospitals, clinics, ambulatory surgery centers, and diagnostic imaging centers.

The global Contrast Media/Contrast Agent market is segmented as follows:

By Modality

• X-ray/CT
• MRI
• Ultrasound

By Product Type

• Iodinated
• Barium-based
• Gadolinium-based
• Microbubble

By Application

• Cardiovascular Disorders
• Neurological Disorders
• Gastrointestinal Disorders
• Cancer
• Nephrological Disorders
• Musculoskeletal Disorders
• Others

By Route of Administration

• Intravascular Route
• Oral Route
• Rectal Route
• Others

By End Use

• Hospital
• Clinics
• Ambulatory Surgery Centers
• Diagnostic Imaging Centers

Browse the full “Contrast Media/Contrast Agent Market By Modality (X-ray/CT, MRI, and Ultrasound), By Product Type (Iodinated, Barium-based, Gadolinium-based, and Microbubble), By Application (Cardiovascular Disorders, Neurological Disorders, Gastrointestinal Disorders, Cancer, Nephrological Disorders, Musculoskeletal Disorders, and Others), By Route of Administration (Intravascular Route, Oral Route, Rectal Route, and Others), By End Use (Hospital, Clinics, Ambulatory Surgery Centers and Diagnostic Imaging Centers) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/contrast-media-contrast-agent-market

Competitive Landscape

Some of the main competitors dominating the global Contrast Media/Contrast Agent market include - 

• Bracco Imaging Spa
• CMC Contrast AB
• GE Healthcare
• Guerbet Group
• Nanopet Pharma GmbH.
• Sanochemia Pharmazeutika AG
• Subhra Pharma Private Ltd.
• Covidien
• Daiichi Sankyo Co. Ltd.
• Genovis AB
• Lantheus Medical Imaging Inc.
• Nanoscan Imaging LLC.
• Spago Imaging AB
• Taejoon Pharm Co. Ltd.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Contrast Media/Contrast Agent market is likely to expand at a CAGR of around 3.5% during the forecast period (2022-2030).
• In terms of revenue, the Contrast Media/Contrast Agent market size was valued at around US$ 5.6 billion in 2021 and is projected to reach US$ 4.1 billion by 2030.
• The rise in the prevalence of chronic diseases, the rising need for image-guided treatments and diagnostics, and the significant number of approvals for contrast agents are the main drivers of the expansion of the contrast media market.
• Based on the modality, the X-ray/CT segment accounted for the largest market share in 2021.
• Based on the product type, the iodinated segment is projected to hold the largest market share over the forecast period.
• Based on the application, the neurological disorders segment is expected to dominate the market during the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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• What is the market size and growth rate forecast for Contrast Media/Contrast Agent industry?
• What are the main driving factors propelling the Contrast Media/Contrast Agent Market forward?
• What are the leading companies in the Contrast Media/Contrast Agent Industry?
• What segments does the Contrast Media/Contrast Agent Market cover?
• How can I receive a free copy of the Contrast Media/Contrast Agent Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Modality, By Product Type, By Application, By Route of Administration, By End Use, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The contrast media market is dominated by North America, which is anticipated to maintain a similar pattern without experiencing substantial deviations during the projected period. In the US, the first gadolinium-based contrast agent was authorized. In the past ten years, only four agents have received approval in the United States, and as a result, there has been a significant tendency in the market to keep looking for agents that are more effective, more accurate, and safe. Over the upcoming years, the United States sales of contrast media are anticipated to increase.

Sales of contrast media for the ultrasound industry are anticipated to develop quickly among the various imaging modalities. The greatest consumer market for contrast media in North America is found in the United States. The main reason fueling the market's expansion in the US is the rise in chronic diseases, such as cardiovascular and neurological diseases. For instance, according to the New York State Department of Health, In the United States, heart disease claims the lives of about 697,000 people annually or 1 in every 5 fatalities.

The most prevalent form of heart disease, coronary heart disease (CHD), claims the lives of over 382,820 people each year. Around 805,000 Americans experience a heart attack each year. 605,000 of these result in a first-time heart attack, while 200,000 are caused by previous heart attacks.

Besides, the Asia Pacific is expected to grow at the highest CAGR over the forecast period. The growth in the region is attributed to the presence of both established local and international manufacturers. For instance, one of the largest contrast media production facilities of GE Healthcare is General Electric Pharmaceuticals (Shanghai) Co., Ltd., a division of GE that manufactures diagnostic pharmaceuticals (CT/MR contrast media) in China. Moreover, the growing prevalence of various chronic diseases such as cancer, heart, and others.

For instance, According to research by the Indian Council for Medical Research on the "Burden of cancer in India," seven cancers accounted for more than 40% of the overall disease burden: lung (10.6%), breast (10.5%), esophagus (5.8%), mouth (5.7%), stomach (5.2%), liver (4.6%), and cervix uteri (4.3%). The number of cancer patients in India is expected to rise from 26.7 million in 2021 to 29.8 million in 2025.

The Northeast and the North had the highest incidence last year (2,408 patients per 100,000). (2,177 per 100,000). Men had a higher rate of it. Thus, the aforementioned facts drive the market growth over the forecast period.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

In July 2022, Fresenius Kabi announced the availability of a portfolio of generic contrast media agents in the United States, beginning with the sale of Iodixanol Injection, USP, a medicine listed as in low supply by the U.S. Food and Drug Administration (FDA). Iodixanol Injection, USP is the first generic iso-osmolar, dimeric iodinated contrast media agent approved by the FDA for use in diagnostic x-ray imaging such as computed tomography (CT) scans.

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