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Contrast Media/Contrast Agent Market Report Scope & Overview:

The Contrast Media/Contrast Agent Market Size was valued at USD 6.25 billion in 2023 and is expected to reach USD 11.56 billion by 2031 and grow at a CAGR of 8% over the forecast period 2024-2031.

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.

Contrast Media/Contrast Agent Market Revenue Analysis

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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.

MARKET DYNAMICS:

DRIVERS

  • The factors that encourage product development

  • Gaining popularity

RESTRAINTS

  • Associated side effects and allergic responses

OPPORTUNITIES

  • Introducing new technologies

  • Manufacture locally which brings price down

CHALLENGES

  • 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.

By Type

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.

By Modality

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.

By Application

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.

By Indication

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:

By Type

  • Iodinated Contrast Media

  • Gadolinium-based Contrast Media

  • Microbubble Contrast Media

  • Barium-based Contrast Media

By Route of Administration

  • Oral Route

  • Intravascular Route

  • Rectal Route

  • Other Route of Administration

By Modality

  • X-ray/CT

  • Ultrasound

  • MRI

By Application

  • Interventional Radiology

  • Radiology

  • Interventional Cardiology

By Indication

  • Cardiovascular Disorders

  • Gastrointestinal Disorders

  • Cancer

  • Neurological Disorders

  • Musculoskeletal Disorders

  • Nephrological Disorders

By End-User

  • Diagnostic Imaging Centers

  • Hospital, Clinics, & Ambulatory Surgery Centers

REGIONAL ANALYSIS:

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.

Contrast Media/Contrast Agent Market By Region

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REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The 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

Key Players:

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

Company Landscape Analysis

Contrast Media/Contrast Agent Marke Report Scope:
Report Attributes Details
Market Size in 2023  US$ 6.25 Billion
Market Size by 2031  US$ 11.56 Billion
CAGR  CAGR of 3.8% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
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

Frequently Asked Questions

Ans: The Contrast Media/Contrast Agent Market size was valued at US$ 6.25 billion in 2023.

Ans: The Contrast Media/Contrast Agent Market is to grow at a CAGR of 8% over the forecast period 2024-2031.

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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 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

9.4 Other

10. Contrast Media/Contrast Agent Market Segmentation, By Modality

10.1 X-ray/CT

10.2 Ultrasound

10.3 MRI

11. Contrast Media/Contrast Agent Market Segmentation, By Application

11.1 Interventional Radiology

11.2 Radiology

11.3 Interventional Cardiology

12. Contrast Media/Contrast Agent Market Segmentation, By Indication

12.1 Cardiovascular Disorders

12.2 Gastrointestinal Disorders

12.3 Cancer

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

14.1 Introduction

14.2 North America

142.1 USA

142.2 Canada

142.3 Mexico

14.3        Europe

14.3.1 Germany

14.3.2 UK

14.3.3 France

14.3.4 Italy

14.3.5 Spain

14.3.6 The Netherlands

14.3.7 Rest of Europe

14.4        Asia-Pacific

14.4.1 Japan

14.4.2 South Korea

14.4.3 China

14.4.4 India

14.4.5 Australia

14.4.6 Rest of Asia-Pacific

14.5 The Middle East & Africa

14.5.1 Israel

14.5.2 UAE

14.5.3 South Africa

14.5.4 Rest

14.6 Latin America

14.6.1 Brazil

14.6.2 Argentina

14.6.3 Rest of Latin America

15. Company Profiles

15.1 Bayer AG

15.1.1 Financial

15.1.2 Products/ Services Offered

15.1.3 SWOT Analysis

15.1.4 The SNS view

15.2 Spago Nanomedical AB

15.3 DAIICHI

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

17. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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