New York, October 14, 2021 – Reports and Data has published its latest report titled “Contrast Media Market, By Product Type (Iodinated, Barium-based, Gadolinium-based, Microbubble, Others), By Modality (X-ray/CT, MRI, Ultrasound Imaging), By Application (Cardiovascular Disorders, Oncological Disorders, Neurological Disorders, Gastrointestinal Disorders, Nephrological Disorders, Musculoskeletal Disorders, Others), And Region – Global Forecast To 2028”
Rising prevalence of numerous chronic diseases around the world, increasing volumes of diagnostic tests, and increasing contrast media R&D activities are some of the key factors driving market growth
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According to Reports and Data, the global contrast media market size was USD 5.10 billion in 2020 and is expected to reach USD 6.79 billion in 2028 and register a revenue CAGR of 3.6% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Contrast media, also known as contrast agents, are used in medical imaging processes to increase the contrast of fluids or structures within the body. Contrast media play an integral role in radiological procedures and are widely used in imaging techniques such as magnetic resonance imaging (MRI), computed tomography (CT), and ultrasound imaging. Robust revenue growth of global contrast media market is attributed to increasing prevalence of chronic diseases including cancer, cardiovascular diseases, and neurological disorders, emergence of advanced medical imaging techniques, rising need for improved disease diagnosis, and increasing R&D activities in the healthcare sector to develop cutting-edge diagnostic and imaging solutions. Surging number of government approvals for new and advanced contrast agents, increasing volumes of MRI and CT examinations, rapid adoption of advanced diagnostic solutions in hospitals and diagnostic centers, and favorable government reimbursement policies further drive the global contrast media market growth.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Iodinated Product Type Segment to Account for Largest Revenue Share:
Based on product type, the global contrast media market is segmented into iodinated, gadolinium-based, barium-based, and microbubble. The iodinated contrast media segment is expected to account for the largest revenue share in the global market over the forecast period. Increasing number of angioplasty procedures and growing use of iodinated contrast media in these procedures are major factors driving growth of this segment to a significant extent.
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Cardiovascular Disorders Segment Dominated Other Application Segments in 2020:
Based on application, the global contrast media market is segmented into cardiovascular disorders, oncological disorders, gastrointestinal disorders, neurological disorders, nephrological disorders, and musculoskeletal disorders. The cardiovascular disorders segment dominated other application segments in terms of largest revenue share in 2020 due to many favorable factors. Rise in geriatric population across the globe, increasing inclination towards unhealthy lifestyles such as excessive intake of junk food and alcoholism, and rising prevalence of cardiovascular diseases are major factors prompting growth of this segment.
Asia Pacific to Lead in Terms of Revenue CAGR:
The contrast media market in Asia Pacific is projected to register the fastest revenue growth rate in the global market during the forecast period. Rising prevalence of chronic diseases including cardiovascular, oncological, gastrointestinal, and neurological disorders, increasing volumes of advanced medical imaging procedures such as MRI and CT scan, growing demand for minimally invasive procedures, and rapidly advancing healthcare infrastructure in the region are expected to bolster the Asia Pacific market growth. Presence of major industry players in the region, including Nano Therapeutics, Livealth Biopharma, Trivitron Healthcare, and Beijing Beilu Pharmaceutical, is another key driver for the regional market growth.
Major Companies in the Market Include:
- GE Healthcare
- Bracco Imaging SpA
- Bayer AG
- Lantheus Medical Imaging, Inc.
- Unijules Life Sciences
- B. Chemicals and Pharmaceuticals Ltd.
- SANOCHEMIA Pharmazeutika GmbH
- Taejoon Pharm
- Jodas Expoim
- Nano Therapeutics Pvt. Ltd.
- Kiran X-ray
- iMax Diagnostic Imaging Limited
- YZJ Group
- Livealth Biopharma Pvt. Ltd.
- Trivitron Healthcare Pvt. Ltd.
- Novalek Pharmaceuticals Pvt. Ltd.
- Unispire Biopharma Private Limited
- Acro Lifesciences (I) Pvt. Ltd.
- Congruent Pharmachem Private Limited
- Stanex Drugs & Chemical Pvt. Ltd.
- Beijing Beilu Pharmaceutical Co., Ltd.
- Rege Imaging & Cine Films Private Limited
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For the purpose of this report, Reports and Data has segmented the global contrast media market based on product type, modality, application, and region:
Product Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- High-osmolality contrast media
- Low-osmolality contrast media
Modality Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Ultrasound Imaging
Application Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Cardiovascular Disorders
- Oncological Disorders
- Neurological Disorders
- Gastrointestinal Disorders
- Nephrological Disorders
- Musculoskeletal Disorders
Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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