Global Contrast Media Market By Method (MRI, Ultrasound, and X-ray/CT), By Product Type (Barium-based, Iodinated, Microbubble, and Gadolinium-based), By Application (Cancer, Cardiovascular Disorders, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Contrast Media Market Overview:

The global contrast media market is estimated to reach USD 4,114 million by 2021. This number will increase at a CAGR of 3.65% between 2023-2032.

A growing number of complex comorbidities has resulted in an increase in diagnostic imaging tests. This includes X-rays and advanced imaging technology like MRI & CT scans. Clariscan, a contrast agent for macrocyclic MRI, was approved by the U.S. FDA. These products can help identify the need to perform perioperative scans and provide treatment for interventional procedures. This will likely boost the market growth.

Global Contrast Media Market Analysis

Method Analysis

Based on Method the X-ray/CT segment had the largest market share in 2021, with approximately 70%. High-resolution, 3D images of structures can be created using X-ray/CT contrast agents. For X-ray/CT techniques, both iodinated and barium-based contrast media are used. When contrast agents and iodine barium are administered in the body, they block X-rays and also do not allow the rays to pass through.

The appearance of organs and blood vessels as well as other tissues in the body, that temporarily contain barium or iodinated contrasting agents, can change in images. Multiple diseases can be treated using X-ray and CT. This market growth is expected to continue.

The fastest-growing segment in the future is ultrasound. To visualize microcirculation within the tissue, contrast agents for ultrasound imaging were developed.

Microbubbles are used for this Method. These microbubbles increase echogenicity and allow for visualization and assessment of large vessels and tissue vascularity. There are many advantages to ultrasound contrast agents over other imaging modalities, and they are expected to increase the market growth.

Ultrasonography is preferred for pediatric patients due to its lower radiation dose and ability to diagnose several diseases like heart disease, liver disease, and kidney disease. Despite its popularity, the segment of ultrasound contrast agents holds a smaller share of the market. This is due to the extended use of second-generation ultrasound comparison agents that were recently approved by regulatory authorities.

Product Type Analysis

In 2021, the iodinated market held the largest revenue share, due to the high penetration and availability of CT and X-ray procedures as well as the nonionic stability of iodinated drugs for improved diagnosis. Iodinated media are usually administered intravenously. In some instances, however, they may be replaced with barium-based contrast media for rectal administration and oral administration.

They can be used to increase visualization of the GI system, internal organs, and arteries & veins, as well as soft tissues and the brain. The wide range of uses for iodinated contrasted mediums includes neurological, gastrointestinal, and cardiovascular disorders, as well as cancer.

The fastest expected growth rate for the microbubble contrast medium segment will be over the forecast. Microbubbles are tiny bubbles of injectable gases. They are used most frequently for ultrasound imaging of the heart.

To visualize microcirculation within the tissue, contrast agents for ultrasound imaging were developed. They improve the echogenicity of blood and thus enhance visualization and assessment of tissue vessels and large vessels.

Contrast media made of microbubbles can reflect ultrasound waves, resulting in structures appearing brighter on the ultrasound. Contrast agents are used for ultrasound imaging in various healthcare settings, such as the CT suite, hospital, echo laboratory, etc. They can also be used in many other settings and can be used for a number of indications. For patients who are allergic to CT or MRI contrast mediums or those with kidney failure, microbubble contrast is a good option.

Application Analysis

In 2021, the market share held by neurological disorders was significant. Gadolinium-based contrast agents are used in approximately one-third of MRIs. They improve image clarity and help diagnose blood vessels, inflammation, tumors, and other conditions.

Provance is one of the most popular macrocyclic gadolinium contrast agents for diagnosing neurological disorders. They are recommended for intravenous use by adults and children 2 years and older to visualize lesions of abnormal vascularity in the brain, spine, and associated tissues.

The fastest-growing segment in the forecast period is cardiovascular disorders. Echocardiography or contrast-enhanced ultrasonography of the heart system is the most common method used for imaging the cardiovascular system of adult and children patients.

Key Market Segments

By Method

• Ultrasound
• MRI
• X-ray/CT

By Product Type

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

By Application

• Cancer
• Cardiovascular Disorders
• Gastrointestinal Disorders
• Neurological Disorders
• Other Applications

Market Dynamics

Senior adults have a higher prevalence of multiple comorbidities and chronic conditions. According to the National Council on Aging (NCA), nearly 80% suffer from at least 1 chronic condition.

The American Heart Association reports that heart failure is on the rise and is one of America’s leading causes of death. About 659,000 Americans died from cardiovascular disease in 2021. The number of people suffering from heart disease is projected to rise by 46.8% by 2032.

Due to the decrease in patient visits to hospitals, COVID-19 caused havoc on the contrast media industry. Healthcare systems were severely affected by the pandemic. In order to save healthcare resources for COVID-19 victims and to combat the spread of the disease, institutes, and healthcare providers were instructed to cease performing medical evaluations and elective surgeries.

The diagnosis of heart disease fell by approximately two-thirds during the initial months of the pandemic. This was due to patients and countries focusing on COVID-19. Similar results were seen in screenings for lung, breast, prostate, and colon.

The American College of Radiology, which represents over 40,000 radiologists in America, has recommended that CT scans and/or X-rays not be used first-line to diagnose COVID-19. This is because it is highly contagious. Many radiology departments noticed a drop in the number of imaging cases. With the exception of COVID diagnosis and contrast media, all other diagnostic procedures saw a substantial decline in 2021.

Market players employ strategies such as indication extension and mergers and acquisitions. Companies increase their geographical reach and portfolio strength by making acquisitions. Because it allows companies to gain the trust and confidence of select populations, disease indication extension is very popular in this market.

Approvals for specific indications allow companies to target niche patient populations and boost the product adoption. The market is also expected to grow due to the introduction of digital solutions that assist in contrast agent injection management.

Region Analysis

North America was the largest contrast media market with 46% in 2021. This was due to various strategic initiatives taken by key manufacturers to target niche patient subsets. These initiatives will accelerate market growth. This region has a lot of established healthcare facilities. It is also expected that there will be more inpatient exams due to the easy availability of modern technologies, disease management, and disease screening initiatives.

Healthcare reforms to implement criteria for the proper use and reduce unnecessary procedures could decrease the number.

The Asia Pacific also held a large market share in 2021. This is due to the existence of both established foreign and local manufacturers in the area. A GE Healthcare branch produces contrast media in China. This is expected to continue driving the regional market growth.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

It is important to involve key players in strategies like acquisitions & mergers, partnerships, and the launch of new products in order to increase their presence in contrast to media markets. In order to expand their market, share, and increase customer base, major players are entering mergers & acquisitions. The previously announced GE Healthcare acquisitions of BK Medical and GE Healthcare were completed in December 2021.

GE Healthcare’s pre-and post-operative ultrasonography capabilities will be enhanced to include real-time surgical view, a rapidly growing and relatively new field.

Маrkеt Кеу Рlауеrѕ:

• Bayer AG
• General Electric Company
• Bracco Diagnostic Inc.
• Nano Therapeutics Pvt. Ltd.
• iMax
• Trivitron Healthcare
• Guerbet
• Lantheus Contrast Media Inc.
• Other Key Players

For the Contrast Media Market research study, the following years have been considered to estimate the market size: