The global contrast media/contrast agent market is expected to grow at a moderate pace over the forecast period. Contrast media are vital for the contrasting and imaging of body structure and organs and hence leads to easy recognition of any dysfunctionality in the body.
Growing incidence of diseases and increasing median age of the global population along with the occurrence of chronic problems such as cardiac diseases and cancer are major factors that are anticipated to fuel industry growth over the next seven years. Emerging technology has also led to improved imaging and diagnostic thus driving the contrast media market. Rising technological advancement in ultrasound different agent technology is also anticipated to contribute towards industry development over the next eight years.
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X-ray contrast agent accounted for the highest share regarding revenue in 2014 and is projected to witness profitable growth over the forecast period. The ultrasound contrast agent market is also expected to grow at a significant rate over the next eight years owing to the rising investments and innovations.
The neurological disorder market is also anticipated to witness substantial growth rate as it is a possible means of examining blood vessels with identifying and analyzing therapeutic radiopharmaceuticals which lead to treatment of Alzheimer’s disease. This factor is expected to fuel industry growth over the next eight years. The overall reported adverse reactions caused owing to contrast agents in magnetic resonance imaging vary between 2.0% to 4.0%.
The global contrast media/contrast agent market is segmented by route of administration, products, medical procedure, and indication. By system, it can be segmented into X-ray, catheterization laboratory (cath lab), magnetic resonance imaging (MRI), ultrasound, and computed tomography (CT).
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By administration, it can be segmented into injection, oral, rectal, and urethral. Injection is classified into intravenous and intra-arterial.
By products, the market can be segmented into iodinated contrast media, barium-based contrast media, and gadolinium-based contrast media. Iodinated contrast media can further be categorized into low-osmolar contrast media (LOCM) and high-osmolar contrast media (HOCM). Indication segment includes musculoskeletal anomalies, gastrointestinal disorders, neurological disorders, nephrological disorders, cardiovascular disorders, and oncology (tumor detection).
Interventional radiology, interventional cardiology, and radiology are several applications of contrast agent market. Maximum contrast agents used in magnetic resonance imaging (MRI) mostly use these products that comprise paramagnetic gadolinium chelates. Around 90 million doses of gadolinium chelates have been sold globally. The gadolinium bases are of 2 types namely, non-specific extracellular contrast and distinct intracellular contrast agents. They only differ in their chelating portion. However, gadolinium based contrast agents are preferred over iodinated contrast agents as they are much safer. It is expected to have a positive impact on the industry over the next eight years.
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