Contrast Media Market Analysis
The global contrast media market is growing pervasively over the past few years. The market growth attributes to notable product developments and their approvals. Besides, rising demand for accurate diagnosis and increasing chronic diseases drive the growth of the market. Moreover, the burgeoning healthcare sector and technological advances in medical imaging techniques escalate the market growth to furthered height.
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Also, the Coronavirus pandemic has significantly changed market conditions over the past few months, which is estimated to continue for an unforeseen period. The epidemic is expected to increase the market gains considerably, creating a massive demand for innovative diagnostics. According to Market Research Future (MRFR), the valuation of global contrast media market had reached USD 4.96 MN in 2018, which is predicted to further appreciate at 3.5% CAGR over the forecast period (2019 – 2025).
Advances in imaging technologies are significant tailwinds for the growth of the market. Such improvements have introduced enhanced utilization of existing contrast media agents while presenting new innovative media. Also, rising regulatory approvals act as a key driving force for the growth of the market. Additionally, increasing uses of contrast media in medical imaging to enhance the visibility of GI tract and blood vessels are supporting the market growth.
Furthermore, augmented expectations of radiologists are creating substantial market demand. Simultaneously, the rising occurrences of myriads of chronic diseases such as GIT, cardiac conditions, cancer, and the increasing public as well as private diagnostic centers are allowing the market to garner exponential traction. Also, the demand for improved diagnostic imaging techniques and various diagnostic imaging modalities are creating colossal market demand.
Conversely, the risk of side / adverse effects of the contrast media is restricting the growth of the market. Nevertheless, technological innovations would support market growth, bringing improvements in the functionalities of these media. Moreover, a range of contrast agents brought by the market players is paving the way for market growth. Syringeless contrast media injector is the latest trend in the market which is boosting the market growth. These injectors minimize the wastage of media and enhance the usages of devices further.
Contrast Media Market – Segmentations
The Contrast Media Market report is segmented into five market dynamics to widen the scope of understanding,
By Type: Intravenous Contrast Materials and Iodine-based, among others.
By Procedure: Computed Tomography, X-ray, Ultrasound, and Magnetic Resonance Imaging, among other procedures.
By Application: Cardiovascular Disorders, Nephrological Disorders, and Oncology, among others.
By Administration Route: Injectables, Oral, and Rectal.
By Regions: Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global Contrast Media Market – Geographical Analysis
North America leads the global contrast media market. The largest market share attributes to the advancements in the medical and imaging technologies. Besides, factors such as the rising cases of GI disease and uptake of advanced diagnostic techniques. Moreover, the presence of notable players and advanced healthcare infrastructures foster the growth of the regional market.
The European region holds the second-largest share in the global contrast media market. This market is driven by the increasing per capita healthcare expenditures and the adoption of advanced diagnostics. Additionally, the presence of many global players and their R&D investments boost the growth of the regional market.
The Asia Pacific contrast media market is growing continually. Factors such as the growing healthcare spending and increasing healthcare sectors in the region push the growth of the regional market. The rapidly developing economy plays a causal role in the development of the regional market. Besides, the ever-increasing population and the spreading awareness for contrast media functionalities positively impact the market growth. Japan, China, and India are major contrast media markets in the APAC region.
Contrast Media Market – Competitive Analysis
Fiercely competitive, the contrast media market appears fragmented due to the presence of several well-established players. Industry players make substantial investments to drive R&D and to meet their expansion plans. To gain a larger competitive share, these players initiate strategic partnerships and collaborations. They acquire promising companies from emerging regions to expand their global footprints.
Contrast Media Market Major Players:
Players active in the contrast media market include DAIICHI (Japan), Bayer AG (Germany), Nanoscan Imaging (US),Bracco Diagnostic Inc. (US), Guerbet Group (France), GE Healthcare (US), Jodas Expoim (India), Magnus Health (US), Lantheus Medical Imaging Inc. (US), Taejoon Pharm (Korea), and Spago Nanomedical AB (Germany), among others.
Contrast Media Industry, Innovation & Related News
June 27, 2019 –– Bracco Imaging S.p.A. (Italy), a leading global diagnostic imaging company, announced the acquisition of a leading molecular imaging diagnostics company in the UK Blue Earth Diagnostics. In addition to expanding its personalized diagnostics portfolio, the purchase would improve the company’s expertise adding Blue Earth’s clinical development and commercialization of innovative nuclear medicine products. It’s first commercially available product – Axumin, a novel molecular imaging agent has approved in the US and European Union territory for use in PET imaging and diagnosis of biochemical recurrence for detecting and localizing prostate cancer in men.
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Table Of Contents
1. REPORT PROLOGUE
2. MARKET INTRODUCTION
2.2. Scope Of The Study
2.2.1. Research Objective
3. RESEARCH METHODOLOGY
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
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