With the emergence and long-term Impact of COVID-19, Global Contrast Media/Contrast Agent Market to reach USD 6.17 billion by 2027
Bizwit Research & Consulting LLP’s Recent Analysis on Global Contrast Media Market is poised to raise USD 6.17 billion by 2027. A contrast agent or contrast medium is an element used in increasing the contrast of structures within the body in medical imaging. In context to x-rays, contrast agents enhance the radiodensity target tissue or structure. The global Contrast Media/Contrast Agent market is being driven by rising prevalence of chronic diseases, growing approvals of contrast agents and rising volume of CT and MRI examinations performed. Furthermore, increasing research on contrast agent will provide new opportunities for the global Contrast Media/Contrast Agent industry. For instance, according to World Health Organization (WHO), in 2020, chronic diseases account for three-quarters of the total global deaths. Also, in 2021, Bracco received US FDA approval for ultrasound contrast agent which is 20-vial pack configuration of Lumason. As a result, rising prevalence of chronic diseases, growing approvals of contrast agents will serve as a catalyst for the Contrast Media/Contrast Agent industry in the future. However, side-effects and allergic reactions associated with contrast agents may impede market growth over the forecast period of 2021-2027.
Geographically, the global Contrast Media/Contrast Agent market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). The presence of key market players in the region and high prevalence of chronic disorders coupled with growing geriatric population makes the North America the leading region across the world in terms of market share. Whereas Europe is also anticipated to exhibit the highest growth rate the forecast period 2021-2027, due to rising adoption of minimally invasive procedures in the region.
The global Contrast Media/Contrast Agent market is highly competitive owing to the presence of several key manufacturers such as GE Healthcare, Bracco Imaging SpA, Bayer AG, Guerbet, Lantheus Medical Imaging, Unijules Life Sciences, J.B. Chemicals and Pharmaceuticals, Sanochemia Pharmazeutika and more.
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Global Contrast Media/Contrast Agent Market Size study, by Type (Iodinated contrast media, Gadolinium-based contrast media, Microbubble contrast media, Barium-based contrast media), by Modality (X-ray/CT, Magnetic resonance imaging, Ultrasound), by Indication (Cardiovascular Disorders, Cancer, Gastrointestinal disorders, Musculoskeletal disorders, Neurological disorders, Nephrological disorders), and Regional Forecasts 2021-2027
Key findings of the study suggest:
- Global Contrast Media/Contrast Agent Market is anticipated to grow with a healthy growth rate of more than 11.3% over the forecast period 2021-2027.
- In the Type segment, Iodinated contrast media emerged out as the leading market segment in 2021.
- In the Modality segment, X-ray/CT has emerged as the leading market segment in 2021.
- In the Indication segment, Neurological disorders has emerged as the leading market segment in 2021.
- North America is anticipated to drive regional growth Owing to presence of key market players in the region and high prevalence of chronic disorders coupled with growing geriatric population.
- Europe is expected to grow at a higher rate followed by North America during 2021-2027.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Iodinated contrast media
- Gadolinium-based contrast media
- Microbubble contrast media
- Barium-based contrast media
- Magnetic resonance imaging
- Cardiovascular Disorders
- Gastrointestinal disorders
- Musculoskeletal disorders
- Neurological disorders
- Nephrological disorders
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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