Report Scope & Overview:
The Contrast Media/Contrast Agent Market Size was valued at USD 4.35 billion in 2022 and is expected to reach USD 5.87 billion by 2030 and grow at a CAGR of 3.8% over the forecast period 2023-2030.
In medical imaging, a chemical known as a contrast agent (or contrast medium) is used to enhance the contrast of bodily structures or fluids. Contrast agents, as opposed to radiopharmaceuticals, which themselves produce radiation, absorb, or modify external electromagnetic or ultrasound. Contrast compounds increase the radiodensity of a target tissue or structure during x-ray imaging. In order to change the contrast in the picture during magnetic resonance imaging, contrast agents reduce (or, in some cases, increase) the relaxation times of nuclei within bodily tissues. Over the past century, contrast agents have seen a significant transformation from the barium- and iodine-based ones that radiologists and medical professionals first utilised. In the future, sophisticated methods like targeted MRI imaging and ultrasonic gas microbubble technologies will prove to be essential forces behind the widespread usage of contrast agents.
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The growing need for diagnostic and image-guided operations, technical developments in the contrast media market, rising cancer and heart disease incidence and death rates, and the development of medical imaging technologies in emerging economies are the industry's key growth drivers. However, the contrast media market is constrained by the global economic slump and key nations implementing healthcare reforms. Older people are more likely to have chronic diseases with many comorbidities. The National Council on Ageing estimates that by 2030, there will be nearly 79.0 million people in the United States who are 60 or older, with nearly 82% of those people having at least one chronic condition and nearly 72% of Medicare beneficiaries having more than two.
Furthermore, heart failure is one of the major causes of mortality in the United States and is becoming increasingly common there, according to a report from the American Heart Association. About 662,000 Americans passed away in 2020 as a result of cardiovascular disorders. According to estimates, there will be 48% more people suffering from heart disease by 2030. The demand for diagnostic imaging treatments and, consequently, contrast media has significantly increased as a result of the growing incidence of chronic illnesses worldwide. In order to provide new goods to the market and get the contrast media authorized for new indications, contrast media makers have been doing substantial R&D as a consequence of the rising demand for imaging operations.
Due to the expiration of patents on branded contrast media products, the competition in the market for contrast media is anticipated to increase significantly over the next several years. This will open the door for generic alternatives, which are often less expensive than commercially available branded agents.
The factors that encourage product development
Associated side effects and allergic responses
Introducing new technologies
Manufacture locally which brings price down
Scarcity of qualified professionals
Rise in price and side effect.
IMPACT OF COVID-19
Due to fewer patient visits to hospitals, the COVID-19 outbreak had a detrimental influence on the contrast media/contrast agent industry. Medical services frameworks have been seriously stressed because of the pandemic. To prevent the spread of the disease and conserve healthcare resources for COVID-19 patients, healthcare organizations and providers were told to halt performing optional surgical operations and medical evaluations. Accordingly, the volume of imaging cases in numerous radiology divisions dropped decisively. The contrast media/ contrast agent market has been impacted by decreased use of contrast media/ contrast agents due to a decline in the volume of elective and non-essential procedures, lower use of routine testing, lower capital spending by clients, and an abatement in research action because of lab terminations and decreased clinical testing. Many countries have begun to recover their economy, however the utilization rate of contrast media/contrast agents will take time to return to pre-pandemic levels. Moreover, any increase in COVID-19 infections could lead to further lockdowns, quarantine requirements, or other limitations in order to slow the spread of COVID-19, which could have a detrimental influence on market growth.
The contrast media/ contrast agent market has been impacted by lower use of contrast media/ contrast agents due to a decline in the volume of elective and non-essential procedures, lower utilization of routine testing, diminished capital spending by customers, and a reduce in research activity due to laboratory closures and reduced clinical testing. Many countries have started to recover their economies, but it will take time for the use of contrast media and contrast agents to return to pre-pandemic levels. Furthermore, any return in COVID-19 infections could result in further lockdowns, quarantine requirements, or other limitations in order to slow the spread of COVID-19, which could have a detrimental influence on market growth.
The contrast media/ contrast agent market has been impacted by decreased use of contrast media/ contrast agents due to a decline in the quantity of elective and non-essential procedures, lower usage of routine testing, diminished capital spending by clients, and an abatement in research movement because of lab terminations and decreased clinical testing. Many countries have begun to recover their economies, but it will take time for contrast media/contrast agents utilization rates to return to pre-pandemic levels. Moreover, any increase in COVID-19 infections could result in further lockdowns, quarantine measures, or other limitations to slow COVID-19's spread, which could stifle market growth.
By Route of Administration
Oral, intravascular, rectal, and other modes of administration make up the contrast media/contrast agent industry. The vascular route is predicted to account for the majority of market share and grow at the fastest rate.
Radiology, interventional radiology, and interventional cardiology are the three segments of the contrast media/contrast agent market. The contrast media/contrast agent market was dominated by the radiology applications segment.
Cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders are all segments of the contrast media/contrast agent industry. Cardiovascular illnesses had the largest market share and the fastest rate of increase.
By End User
Hospitals, clinics, ASCs, and diagnostic imaging centers make up the contrast media/contrast agent industry. The contrast media/contrast agent industry is dominated by hospitals, clinics, and ASCs. The increasing number of hospitals around the world is responsible for the large share.
Key Market Segments:
Iodinated Contrast Media
Gadolinium-based Contrast Media
Microbubble Contrast Media
Barium-based Contrast Media
By Route of Administration
Other Route of Administration
Diagnostic Imaging Centers
Hospital, Clinics, & Ambulatory Surgery Centers
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Europe (Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of Asia Pacific), Latin America, and the Middle East and Africa North America, followed by Europe, dominated the global contrast media/contrast agent market in 2020. The existence of prominent companies in the region, the high prevalence of chronic illnesses, the growing elderly population, and the increasing use of minimally invasive procedures all contribute to the North American market's size.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
There are some major key players are as follows: Bayer AG, Spago Nanomedical AB, DAIICHI, Magnus Health, Bracco Diagnostic Inc., Jodas Expoim, GE Healthcare, Taejoon Pharm, Guerbet Group, Lantheus Medical Imaging Inc., NANOSCAN IMAGING, and Other Players.
Magnus Health-Company Financial Analysis
|Market Size in 2022||US$ 4.35 Billion|
|Market Size by 2030||US$ 5.87 Billion|
|CAGR||CAGR of 3.8% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Application (Dental Implantology, Oral and Maxillofacial Surgery, Orthodontics, Endodontics, General Dentistry, Temporomandibular Joint (TMJ) Disorders, Periodontics, Forensic Dentistry)
• By Patient Position (Standing Position, Seated Position, Supine Position)
• By End-Use (Hospitals & Others, Dental Clinics)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Bayer AG, Spago Nanomedical AB, DAIICHI, Magnus Health, Bracco Diagnostic Inc., Jodas Expoim, GE Healthcare, Taejoon Pharm, Guerbet Group, Lantheus Medical Imaging Inc., NANOSCAN IMAGING|
|DRIVING FACTORS||• The factors that encourage product development
• Gaining popularity
|Restraints||• Associated side effects and allergic responses|
Ans: The Contrast Media/Contrast Agent Market size was valued at US$ 4.35 billion in 2022.
Ans: The Contrast Media/Contrast Agent Market is to grow at a CAGR of 3.8% over the forecast period 2023-2030.
The market is divided into six segments and the segments are By Type, By Route of Administration, By Modality, By Application, By Indication, and By End User
The challenges faced by contrast media/contrast agent Market is Scarcity of qualified professionals, and Rise in price and side effect.
key drivers of the contrast media/contrast agent Market is the factors that encourage product development, and Gaining popularity
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Contrast Media/Contrast Agent Market Segmentation, by Type
8.1 Iodinated Contrast Media
8.2 Gadolinium-based Contrast Media
8.3 Microbubble Contrast Media
8.4 Barium-based Contrast Media
9. Contrast Media/Contrast Agent Market Segmentation, by Route of Administration
9.1 Oral Route
9.2 Intravascular Route
9.3 Rectal Route
10. Contrast Media/Contrast Agent Market Segmentation, By Modality
11. Contrast Media/Contrast Agent Market Segmentation, By Application
11.1 Interventional Radiology
11.3 Interventional Cardiology
12. Contrast Media/Contrast Agent Market Segmentation, By Indication
12.1 Cardiovascular Disorders
12.2 Gastrointestinal Disorders
12.4 Neurological Disorders
12.5 Musculoskeletal Disorders
12.6 Nephrological Disorders
13. Contrast Media/Contrast Agent Market Segmentation, By End User
13.1 Diagnostic Imaging Centers
13.2 Hospital, Clinics, & Ambulatory Surgery Centers
14. Regional Analysis
14.2 North America
14.3.6 The Netherlands
14.3.7 Rest of Europe
14.4.2 South Korea
14.4.6 Rest of Asia-Pacific
14.5 The Middle East & Africa
14.5.3 South Africa
14.6 Latin America
14.6.3 Rest of Latin America
15. Company Profiles
15.1 Bayer AG
15.1.2 Products/ Services Offered
15.1.3 SWOT Analysis
15.1.4 The SNS view
15.2 Spago Nanomedical AB
15.4 Magnus Health
15.5Bracco Diagnostic Inc.
15.6 NANOSCAN IMAGING
15.7 GE Healthcare
15.8 Jodas Expoim
15.9 Taejoon Pharm
15.10 Guerbet Group
15.11 Lantheus Medical Imaging Inc.
16. Competitive Landscape
16.1 Competitive Benchmark
16.2 Market Share Analysis
16.3 Recent Developments
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