SEATTLE, July 05, 2021, (MEDGADGET) — Contrast media or contrast agent is used in medical imaging to enhance image of body parts generated through X-rays, magnetic resonance imaging (MRI), computed tomography (CT), and ultrasound. These substances are momentarily used to change the way imaging tools or x-rays interact with the body. Contrast media or contrast agent help the physicians to diagnose medical conditions by improving visibility of blood vessels or tissues and specific organs. These substances are added into the body prior to an imaging scan to help distinguish certain structures or tissues of interest from the surrounding tissue. Contrast media or contrast agent can be administered into the body in one of the four ways, which include enema (given rectally), orally, urethral, and by injecting into a blood vessel.
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Rising gas micro bubble technology in MRI imaging is expected to boost growth of the contrast media/contrast agent market
Major factors that are expected to drive growth of the contrast media/contrast agent include usage of advanced technology such as gas micro bubble technology in MRI imaging, rising incidence of chronic diseases such as cardiac diseases, gastrointestinal disorders, and cancer. Advancements in medical imaging technology and increasing demand for image guided procedures and diagnostics are expected to fuel growth of the market. According to the International Agency for Research on Cancer (IARC), in 2012, around 14.1 million new cancer cases and 8.2 million cancer deaths were recorded worldwide and by 2030 the number is expected to increase to 21.7 million for new cancer cases and 13 million cancer deaths. However, side effects of contrast agents such as kidney diseases and high cost associated with the contrast media injectors are some of the factors that are expected to hinder growth of the contrast media/ contrast agent market.
Approvals and launches of innovative agents by market players with safety profile are expected to fuel growth of the contrast agent market. For instance, in 2016, FDA approved Gadavist (gadobutrol) injection manufactured by Bayer AG for use with magnetic resonance angiography (MRA) to evaluate renal artery disease in adult and pediatric patients. Moreover, in May 2017, the FDA expanded indication for GE Healthcare’s Visipaque (iodixanol) for use in coronary computed tomography angiography (CCTA) for diagnostic evaluation of adult and pediatric patients 12 years of age or older with suspected coronary artery disease.
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Rising product launches and adoption of inorganic growth strategies such as acquisitions and collaborations by market players are expected to boost the contrast media/contrast agent market
Key players are focused on product approvals and launches, in order to gain major market share, which are expected to drive the contrast media/contrast agent market growth. For instance, in September 2019, Bayer HealthCare launched Medrad Stellant Flex CT injection system, in order to offer user-driven system, individualized patient protocols and personalized imaging. Moreover, in July 2019, Bracco Diagnostics Inc., a subsidiary of Bracco Imaging S.p.A., launched an interactive and customizable media kit for enhancing the user experience and increasing physician referrals. The media kit includes customizable press release, patient brochure, and letter and referrers brochure.
In July 2019, Bayer HealthCare, received the U.S. Food and Drug Administration approval for its Gadavist (gadobutrol) injection to be used as the first contrast agent for cardiac magnetic resonance (MR) imaging in the patients suspected to suffer from the coronary artery disease.
In March, 2017, GE Healthcare launched Clariscan, a gadolinium-based contrast agent designed to support effective visualization of abnormalities in the spine, brain and associated tissues.
Additionally, increasing adoption of mergers and acquisition strategies by the market players are expected to drive the market growth. For instance, in December 2014, nanoPET Pharma GmbH and Boehringer Ingelheim Corporation entered into partnership. Under the partnership nanoPET led the development of contrast agents for studies in both basic and pre-clinical research.
North America is expected to hold dominant position in the market, owing to increasing incidence of cancer and cardiac disorders
North America is expected to hold a dominant position in the contrast media/contrast agent in the global market, followed by Europe. Improved MRI techniques in cardiovascular diseases, rise in the number of cancer and cardiac disorders, advancements in diagnostic technology, and image guided surgical procedures are the factors that are expected to propel the growth of contrast media/contrast agent market in the North America region. For instance, according to the National Cancer Institute, in 2016, around 1,685,210 new cases of cancer were diagnosed in the U.S. Moreover, according to the Centers for Disease Control and Prevention (CDC), 2017, around 28.4 million heart cases were diagnosed in the U.S.
Key Players
Key players operating in the contrast media/contrast agent market include Lantheus Medical Imaging, GE Healthcare, Bayer HealthCare, Bracco Imaging S.p.A, NanoPET Pharma GmbH, Guerbet Group, CMC Contrast AB, Daiichi Sankyo, and Subhra Pharma Private Limited
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Contrast Media/ Contrast Agent Market Taxonomy
Contrast media/ contrast agent market is segmented on the basis of media type, route of administration, indication, end user, and region.
On the basis of media type, contrast media/contrast agent market is segmented into:
- Microbubble Contrast Media
- Iodinated Contrast Media
- Barium-based Contrast Media
- Gadolinium-based Contrast Media
On the basis of route of administration, contrast media/contrast agent market is segmented into:
- Oral
- Rectal
- Intravenous
- Urethral
On the basis of indication, contrast media/contrast agent market is segmented into:
- Neurological Disorders
- Nephrological Disorders
- Cardiovascular Disorders
- Gastrointestinal Disorders
- Oncology
- Musculoskeletal Disorders
On the basis of end-user, contrast media/contrast agent market is segmented into:
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Clinics
On the basis of geography/region, contrast media/contrast agent market is segmented into:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Table of Content
Global Contrast Media/Contrast Agent Market Research Report
Section 1: Global Contrast Media/Contrast Agent Industry Overview
Section 2: Global Economic Impact on Contrast Media/Contrast Agent Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Contrast Media/Contrast Agent Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Contrast Media/Contrast Agent Market Forecast
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