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Contrast Media - Global Market Trajectory & Analytics

  • ID: 4804626
  • Report
  • April 2021
  • Region: Global
  • 513 pages
  • Global Industry Analysts, Inc
The global market for Contrast Media is projected to reach US$5.3 billion by 2025, driven by the growing number of imaging procedures such as X-Rays, MRI, CT, and Ultrasound supported by the prevalence of chronic diseases among the growing global population and the ensuing diagnostic burden and demand for imaging services. The global burden of chronic diseases can be put into perspective by the fact that it is the leading cause of death and disability in the world. Although easily preventable, chronic diseases such as heart disease, stroke, cancer, type-2 diabetes, obesity, thyroidism, and arthritis push up healthcare costs and also demand for healthcare services. By 2030, chronic diseases will emerge to be the most costly and prevalent killer worldwide. As a result, healthcare spending is forecast to reach a mind-bending US$19 trillion by the year 2040. A major portion of this expenditure will be spent on medical imaging procedures such as X-Rays, CT scan (computed tomography scan), MRI (magnetic resonance imaging), ultrasound, and nuclear medicine imaging, including positron-emission tomography (PET), among other emerging hybrid imaging technologies. As an extremely important aspect of medical practice, imaging has and still continues to revolutionize the world of healthcare. Medical imaging helps in early detection and diagnosis of diseases at a stage when they can be easily treated and of late has been assuming even greater importance as the world healthcare migrates to the tenets of preventative care. Better diagnosis has a direct and a positive impact on therapy procedures and treatment planning. The rise of imaging based surgical strategies to safely handle complicated surgeries is also helping push up the importance of medical imaging.

A key element of the ongoing healthcare reforms and the migration to value based care is medical imaging. Technologies such as nuclear medicine (imaging), molecular imaging, and contrast enhanced radiology procedures are benefiting significantly for the simple reason that there can be no value based care without value based imaging activities. Medical imaging remains very crucial in healthcare as it plays a decisive role in enabling low-cost effective patient care. The starting point for effective treatment is high-performance imaging and accurate diagnosis. Replacing low-value imaging with high performance imaging reduces costs and enhances effectiveness of treatment. In this regard, contrast enhanced imaging and the benefits offered are a perfect value creation. Contrast agents help in advanced visualization of biological structures; and helps capture hard-to-image anatomical regions. They help eliminate errors caused by radiologist's perception which tends to influence interpretation of the true structure of the underlying anatomy. Oral, intravenous, rectal, and intrathecal contrast agents are indispensable today in the practice of radiology for their most primary benefit which is enhanced visibility of internal structures. Efficiency of contrast media over the years have evolved from high-osmolar contrast media (HOCM) which have limited utility and higher side-effects to low-osmolality contrast agents. The development of nonionic compounds marked a major step forward. The most recent type of contrast agent developed is the iso-osmolar contrast media (IOCM) which is composed of dimers, a molecule with two benzene rings and 3 iodine atoms. The United States and Europe represent large markets worldwide with a combined share of 66.9% of the market. China ranks as the fastest growing market with a CAGR of 5% over the analysis period supported by the remarkable progress made by the country in developing its primary health-care system. Access to and affordability of healthcare services have improved significantly over the last decade. Improving access to timely care is helping drive demand for imaging services in the country.

Select Competitors (Total 45 Featured):
  • AMAG Pharmaceuticals, Inc.
  • Bayer AG
  • Daiichi Sankyo Co., Ltd.
  • GE Healthcare
  • Guerbet Group
  • Starpharma Holdings Limited
Note: Product cover images may vary from those shown

  • Influencer Market Insights
  • Impact of Covid-19 and a Looming Global Recession
  • Prevalence of Chronic Diseases Among the Growing Global Population Pushes Up the Diagnostic Burden & Demand for Imaging
  • Exhibit 1: Rising Prevalence of Chronic Diseases Amplifies the Volume of Imaging Procedures, Driving Opportunities for Imaging Agents: Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
  • Exhibit 2: The US$ 37 Billion Robustly Growing Medical Imaging Market Provides Lucrative Opportunities for Contrast Agents for Advanced Visualization: Global Medical Imaging Market (In US$ Billion) for the Years 2018, 2020 and 2022
  • Aging Population, a Demographic Catalyst Driving Demand for Imaging Services
  • Rapidly Aging Population & the Challenges Associated With Geriatric Imaging Spurs Demand for Contrast Imaging Agents: Global Population of 65+ Individuals (In 000s) by Region for the Years 2015, 2020 & 2025
  • Rise of Nuclear Medicine, the Cornerstone for the Growth for Radioactive Tracers
  • Exhibit 3: Improving Quality & Value of Nuclear Medicine Bodes Well for Radioactive Contrast Agents: Global Market for Nuclear Imaging (US$ Billion) for the Years 2018, 2020, 2022 and 2025 by Type
  • Short Supply of Technetium-99m Threatens to Impact Nuclear Imaging Services
  • Exhibit 4: Plagued by the Risk of Reactor Decommissioning & Unplanned Maintenance Shutdowns, Fragile Supply of Mo-99 Will Remain a Cause for Concern: Global Mo-99 Production Capacity (In Curies (Ci) Per Week) by Producer for the Years 2016 through 2022
  • AMAG Pharmaceuticals, Inc. (USA)
  • Bayer Healthcare LLC (USA)
  • Bracco Imaging SpA (Italy)
  • GE Healthcare (USA)
  • Genovis AB (Sweden)
  • Guerbet Group (France)
  • J.B. Chemicals & Pharmaceuticals Ltd. (India)
  • Jodas Expoim (India)
  • Lantheus Medical Imaging, Inc. (USA)
  • Magnus Health (India)
  • Medtronic Plc. (Ireland)
  • nanoPET Pharma GmbH (Germany)
  • Sanochemia Pharmazeutika AG (Austria)
  • Spago Nanomedical AB (Sweden)
  • Taejoon Pharm Co., Ltd. (South Korea)
  • Unijules Life Sciences Ltd. (India)
  • Migration to Value Based Care Throws the Focus on Quality & Value of Imaging & Its Ability to Improve Patient Care by Providing Better Quality Images
  • Exhibit 5: With “Value” being the new Currency in Healthcare Markets Worldwide, Value Based Imaging Will Positively Impact Contrast Enhanced Imaging Procedures: % of Value-Based Reimbursement (VBR) & Fee-For-Service Structured Healthcare Organizations for the Years 2016, 2018 and 2022
  • Growing Preference for Non-Ionizing Radiation-Based Radioimaging Drives Demand for Contrast Enhanced MRI
  • Commercially Available MRI Contrast Agents
  • Exhibit 6: Spurred by Safety & Efficiency Benefits, Growing MRI Procedures & Parallel Increase in MRI Machines to Benefit Demand for MRI Contrast Agents: Global MRI Equipment Market (In US$ Billion) for the Years 2018, 2020, 2022 and 2024
  • Exhibit 7: Equipment Density Correlates With Number of Imaging Procedures: Magnetic Resonance Imaging (MRI) Units in Select Countries (Per Million Population) for the Year 2019
  • Evolving Clinical Applications of Contrast-Enhanced Ultrasound (CEUS) Drive Demand for Ultrasound Contrast Agents
  • Clinically Available Ultrasound Contrast Agents
  • Growing Use of CEUS in Emergency and Critical Care
  • Special Focus on Microbubble Contrast Agents for Ultrasound Imaging
  • Clinical Applications of Microbubbles
  • Oscillating Microbubbles: To Revolutionize Ultrasound
  • Exhibit 8: Growing Market for Ultrasound Equipment Pushes Up the Number of CEUS Procedures Performed: Global Market for Ultrasound Equipment (In US Billion) for the Years 2017, 2019, 2022 and 2024
  • Continued Value of CT Imaging in Cardiology Despite Risk of Radiation Exposure Drives Demand for Contrast-Enhanced CT
  • Contrast Agents Used in CT Imaging by Class: A Snapshot
  • CCTA Gaining Traction in Coronary Arteries Imaging
  • List of Iodine-Containing Contrast Agents for Coronary CT Angiography
  • Exhibit 9: Growing Access to CT Imaging Bodes Well for CT Contrast Agents: Density of CT Scanners in Select Countries (Per Million Population) for the Year 2019
  • Rise in Image Guided Surgeries Drives Demand for Contrast Agents
  • Emergence of Molecular-Targeted Fluorescent Tracers
  • Select Potential “always-on” Targeted Tracers for Fluorescence Image-Guided Surgery (FIGS)
  • The Use of Gold Nanoclusters as Contrast Agent for IGS of Head and Neck Tumors
  • Exhibit 10: Better Surgical Outcome Drives the Number of Image Guided Surgeries Performed Worldwide Along with Demand for Contrast Agents: Global Market for Image Guided Surgical Devices (In US$ Billion) for the Years 2018, 2020, and 2022 by Imaging Type
  • Stringent Guidelines & Implementation of Best Practices for Safe Use of Contrast Agents to Encourage Patient Acceptance of Contrast Enhanced Imaging
  • Safety Issues with Iodinated Agents, Gadolinium BCA and Microbubbles
  • Symptoms of Reaction to Administration of Iodinated Contrast Media Agents
  • Innovations Remain Crucial to Growth
  • A Review of Advancements in Contrast Media Injector Technology
  • Development of New Contrast Agents
  • Key Challenges Confront the Market
  • Advances in Imaging Technology Reduce Contrast Media Use
  • Product Recalls and Side Effects of Contrast Media Challenge Growth
  • A Snapshot of Side Effects, Allergic and Adverse Reactions with Contrast Agents

  • Total Companies Profiled: 45
Note: Product cover images may vary from those shown