The global contrast media/agents market size is valued to be USD 4,979.4 million in 2021 and is projected to witness a CAGR of 3.98 % during the forecast period. Increasing incidence of cancer and cardiovascular diseases (CVDS) worldwide is a key driver for the growth of the global contrast media/agents market. Additionally, growth in demand related to prompt diagnosis and increase in number of CT and MRI examinations and development in favorable initiatives taken by government are some of the other drivers propelling the market growth. However, side-effects and allergic reactions to patients related with contrast agents and constraints and extraction of linear gadolinium-based contrast agents are expected to restrain the global market growth
Based on modality, the market is segmented into ultrasound, X-ray/Computed Tomography (CT), and Magnetic Resonance Imaging (MRI). In 2021, the X-ray/computed tomography (CT) segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is attributed to the widespread use of these products as they include barium-based and iodinated contrast agents that find application in various diagnostic procedures for several diseases worldwide. The MRI segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to the extensive use of contrast agents to augment the contrast alteration between normal and abnormal tissues.
Based on product, the market is segmented into iodinated contrast media/contrast agents, barium-based contrast media/contrast agents, microbubble contrast media/contrast agents, and gadolinium-based contrast media/contrast agents. In 2021, the iodinated contrast media/contrast agents segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is attributed to this product finding high application in CT examinations along with the fact that it can be used in nearly all body parts worldwide. Barium-based contrast media/contrast agents segment is projected to grow at a profitable CAGR during the forecast period. This is attributed to the increase in application of barium-based contrast media/contrast agents in imaging technology.
Based on application, the market is sub segmented as interventional cardiology, radiology, and interventional radiology. In 2021, the radiology segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is due to the rising use of various contrast media/agents in the radiology segment to get a better diagnosis of various diseases worldwide. The interventional cardiology segment is anticipated to grow at a profitable CAGR during the forecast period, due to the increase in demand for minimally invasive surgical processes globally and rise in cases of cardiovascular diseases.
Based on route of administration, the market is categorized into intravascular, oral, rectal, and other routes. In 2021, the intravascular segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is due to developments in CT and MRI imaging technologies that are majorly used in the intravascular route to inoculate contrast media worldwide. The oral segment is anticipated to grow at a profitable CAGR during the forecast period due to the launch of new products and shift towards oral drugs are the key factors driving the market.
Based on indications, the market is bifurcated as cardiovascular disorders, cancer, musculoskeletal disorders, neurological disorders, gastrointestinal disorders, and nephrological disorders. In 2021, the neurological disorders segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is due to diagnostic assessment of CNS for neurological disorders, which is expected to boost the acceptance of MRI contrast media worldwide. The cancer segment is anticipated to grow at a profitable CAGR during the forecast period, due to the increase in need for prompt diagnosis owing to the rise in occurrence of the disease globally.
In 2021, North America held the highest revenue share in the global market and is projected to sustain its dominance during the forecast period. This is attributed to the presence of major manufacturers in the region, increase in the share of healthcare expenditure in the per capita income, increase in research & development of new contrast agents in the market, and accessibility of technologically advanced products in the region. Asia Pacific market is expected to grow at the fastest CAGR over the forecast period owing to the less stringent regulations related to new product launches, growing government and corporate investment in healthcare sector, increasing travel tourism in the developing economies, and mergers & acquisitions by major market players in emerging economies. Competitor Insights Some of the key players in the contrast media/agents market are GE Healthcare (U.S.); Bracco Imaging (Italy); Bayer HealthCare (Germany); Guerbet (France); Lantheus (U.S.); Daiichi Sankyo (Japan); Unijules Life Sciences (India); J.B. Chemicals and Pharmaceuticals (India); Sanochemia (Austria); Taejoon Pharm (South Korea); Jodas (India); and Magnus Health (India). The leading players operating in the contrast media/agents industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The contrast media/agents market report is categorized into the following segments and subsegments:
Contrast Media/Agents Market, By Modality (Revenue, USD Million, 2021 - 2029)
By Modality
Based on modality, the market is segmented into ultrasound, X-ray/Computed Tomography (CT), and Magnetic Resonance Imaging (MRI). In 2021, the X-ray/computed tomography (CT) segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is attributed to the widespread use of these products as they include barium-based and iodinated contrast agents that find application in various diagnostic procedures for several diseases worldwide. The MRI segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to the extensive use of contrast agents to augment the contrast alteration between normal and abnormal tissues.
By Product
Based on product, the market is segmented into iodinated contrast media/contrast agents, barium-based contrast media/contrast agents, microbubble contrast media/contrast agents, and gadolinium-based contrast media/contrast agents. In 2021, the iodinated contrast media/contrast agents segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is attributed to this product finding high application in CT examinations along with the fact that it can be used in nearly all body parts worldwide. Barium-based contrast media/contrast agents segment is projected to grow at a profitable CAGR during the forecast period. This is attributed to the increase in application of barium-based contrast media/contrast agents in imaging technology.
By Application
Based on application, the market is sub segmented as interventional cardiology, radiology, and interventional radiology. In 2021, the radiology segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is due to the rising use of various contrast media/agents in the radiology segment to get a better diagnosis of various diseases worldwide. The interventional cardiology segment is anticipated to grow at a profitable CAGR during the forecast period, due to the increase in demand for minimally invasive surgical processes globally and rise in cases of cardiovascular diseases.
By Route of Administration
Based on route of administration, the market is categorized into intravascular, oral, rectal, and other routes. In 2021, the intravascular segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is due to developments in CT and MRI imaging technologies that are majorly used in the intravascular route to inoculate contrast media worldwide. The oral segment is anticipated to grow at a profitable CAGR during the forecast period due to the launch of new products and shift towards oral drugs are the key factors driving the market.
By Indications
Based on indications, the market is bifurcated as cardiovascular disorders, cancer, musculoskeletal disorders, neurological disorders, gastrointestinal disorders, and nephrological disorders. In 2021, the neurological disorders segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is due to diagnostic assessment of CNS for neurological disorders, which is expected to boost the acceptance of MRI contrast media worldwide. The cancer segment is anticipated to grow at a profitable CAGR during the forecast period, due to the increase in need for prompt diagnosis owing to the rise in occurrence of the disease globally.
Regional Insights
In 2021, North America held the highest revenue share in the global market and is projected to sustain its dominance during the forecast period. This is attributed to the presence of major manufacturers in the region, increase in the share of healthcare expenditure in the per capita income, increase in research & development of new contrast agents in the market, and accessibility of technologically advanced products in the region. Asia Pacific market is expected to grow at the fastest CAGR over the forecast period owing to the less stringent regulations related to new product launches, growing government and corporate investment in healthcare sector, increasing travel tourism in the developing economies, and mergers & acquisitions by major market players in emerging economies. Competitor Insights Some of the key players in the contrast media/agents market are GE Healthcare (U.S.); Bracco Imaging (Italy); Bayer HealthCare (Germany); Guerbet (France); Lantheus (U.S.); Daiichi Sankyo (Japan); Unijules Life Sciences (India); J.B. Chemicals and Pharmaceuticals (India); Sanochemia (Austria); Taejoon Pharm (South Korea); Jodas (India); and Magnus Health (India). The leading players operating in the contrast media/agents industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The contrast media/agents market report is categorized into the following segments and subsegments:
Contrast Media/Agents Market, By Modality (Revenue, USD Million, 2021 - 2029)
- Ultrasound
- X-ray/Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Iodinated Contrast media/contrast agents
- Barium-based Contrast media/contrast agents
- Microbubble Contrast media/contrast agents
- Gadolinium-based Contrast media/contrast agents
- Interventional Cardiology
- Radiology
- Interventional Radiology
- Intravascular
- Oral
- Rectal
- Other Routes
- Cancer
- Cardiovascular Disorders
- Musculoskeletal Disorders
- Gastrointestinal Disorders
- Neurological Disorders
- Nephrological Disorders
North America
U.S.- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
South Africa- Saudi Arabia
- Rest of MEA
Table of Contents
1. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Contrast Media/Agents Market
7. Market Analysis by Modality
8. Market Analysis by Product
9. Market Analysis by Application
10. Market Analysis by Route of Administration
11. Market Analysis by Indication
12. Regional Market Analysis
13. North America Contrast Media/Agents Market
14. Europe Contrast Media/Agents Market
15. Asia Pacific Contrast Media/Agents Market
16. Latin America Contrast Media/Agents Market
17. MEA Contrast Media/Agents Market
18. Competitor Analysis
19. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- GE Healthcare (U.S.)
- Bracco Imaging (Italy)
- Bayer HealthCare (Germany)
- Guerbet (France)
- Lantheus (U.S.)
- Daiichi Sankyo (Japan)
- Unijules Life Sciences (India)
- J.B. Chemicals and Pharmaceuticals (India)
- Sanochemia (Austria)
- Taejoon Pharm (South Korea)
- Jodas (India)
- Magnus Health (India)
