Contrast Media Market Size, Growth and Trends Analysis By Type (Iodinated Contrast Media and Gadolinium-Based Contrast Media), By Form (Tablet, Powder, Liquid and Paste), Procedures (X-ray/Computed Tomography (CT) and Magnetic Resonance Imaging (MRI)), Application (Cardiovascular Disease, Oncology and Gastrointestinal Disorders), Route of Administration (Rectal, Oral and Injectable) and Region (the Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast 2027
|ID: VPR/HC/1104||Publishing Year: January 2022||Pages: 111||Format:|
Contrast Media Market Overview:
In the discipline of radiology, Contrast Agents are essential. Significant advancements in the composition of Contrast Agents have made them safer and more tolerated by patients during the last few decades, as evidenced by their usage in a variety of exams, mostly for severely ill patients. The sector has grown as the prevalence of chronic diseases such as cardiovascular disease, neurological disease, cancer, and several other disorders has increased. Industry growth is likely to be fueled by the increasing number of approvals granted by various government agencies. Several significant players want to spend in research and development in order to develop new revolutionary products that will deliver better benefits for patients with fewer adverse effects. Because of the existence of major key players in the industry, the North American segment holds a significant market share. Due to the existence of a large senior population and developing healthcare infrastructure, the Asia Pacific region is predicted to be the fastest-growing area in the market. Although the sector has a lot of room for expansion, considerations like side effects and allergies connected with contrast media could be a roadblock. Furthermore, the high cost of diagnostic imaging tests as well as a scarcity of educated specialists are two other problems that could stymie the sector.
- Bayer AG (Germany),
- Bracco Diagnostic Inc. (US),
- DAIICHI (Japan),
- NANOSCAN IMAGING (US),
- JodasExpoim (India),
- GE Healthcare (US),
- Guerbet Group (France),
- Lantheus Medical Imaging Inc. (US),
- Taejoon Pharm (Korea),
- Magnus Health (US),
- SpagoNanomedical AB (Germany)
As the global frequency of chronic diseases rises, so does the demand for diagnostic imaging procedures and, as a result, Contrast Media. Due to the growing demand for imaging operations, contrast media manufacturers have invested much in R&D in order to bring new products to market and gain approval for new indications. Bracco, for example, got FDA approval for the 20-vial pack design of Lumason, an ultrasound contrast agent, in 2021.
Contrast compounds are usually regarded safe to use in MRI and CT scans, among other diagnostic techniques. However, some of the adverse effects and allergic responses associated with their use may limit market expansion. Their side effects range from mild to severe; severe reactions are extremely rare, as are major allergic reactions to contrast materials.
Iodinated contrast media, gadolinium-based contrast media, microbubbleContrast Media, and barum-based contrast media are the four types of Contrast Media/ Contrast Agents available. The market for Contrast Media/Contrast Agents is dominated by iodinated contrast media. The expanding number of angioplasty operations conducted around the world accounts for the substantial proportion of this market.
Cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders are the indications for which the Contrast Media/Contrast Agents Market has been classified. Cardiovascular illnesses had the largest market share and the fastest rate of increase. The growing geriatric population and the rising prevalence of CVD around the world account for a substantial part of this market.
The Market for Radiographic Contrast Media has been segmented into four regions: the Americas, the Middle East and Africa, Europe, and Asia-Pacific. Due to rising demands for the diagnosis of people suffering from various health disorders such as intestinal ailments, spinal injuries, brain problems, cancer, and other diseases, the American region is predicted to dominate the Worldwide Contrast Agents Market. Furthermore, the Worldwide Contrast Media/Contrast Agent Market is expanding due to rising medical imaging demand.
The European area is expected to hold the second-largest share of the Contrast Media Market. Because of rising healthcare costs, the presence of more medical device businesses in the region, and the region's growing economy, product demand in this region is increasing. Aside from that, due to an increase in fractures, spinal difficulties, and health issues among the senior population, the Asia-Pacific region is expected to be the contrast agents market's fastest-growing area. It can be shown that as the patient pool grows, so does the population's demand for medical imaging, boosting the region's Global Market Growth.
After the pandemic, the market for Contrast Media Agents in Healthcare is likely to rise significantly. After the pandemic, the market for Contrast Media Agents in healthcare is likely to rise significantly. Due to lockdowns, travel bans, and business shutdowns, the COVID-19 has impacted economies and businesses in a number of countries. Many countries' public health systems have been overburdened as a result of the COVID-19 crisis, highlighting the critical need for long-term investment in health systems. As the COVID-19 epidemic spreads, the healthcare industry's growth is projected to slow. The life sciences industry is booming thanks to rising demand for in vitro diagnostic products and increased research and development efforts around the world. However, sales in the medical technology and imaging industry are declining as a result of fewer procedures being performed and equipment procurement being delayed or postponed. In addition, after the pandemic, virtual consultations with healthcare specialists are likely to become the standard way of care delivery. Digital health will continue to grow in the coming years as telehealth transforms care delivery. Disrupted clinical trials, as well as the resulting delays in medication introductions, are expected to pave the way for wholly virtual trials in the future. In the coming years, new technologies like as mRNA are predicted to emerge and disrupt the pharmaceutical sector, as well as greater vertical integration and collaborative partnerships.
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