Contrast Media Market to Hit US$ 9.04 Billion with a 4.1% CAGR by 2034: Fact.MR Report

Innovations in contrast media packaging such as multi-dose, polymer, and bulk containers contributing to overall market growth

ROCKVILLE, MD, UNITED STATES, December 10, 2024 /EINPresswire.com/ -- Rising need for accurate diagnostics is driving the adoption of contrast agents. Fact.MR, a market research and competitive intelligence provider, reveals in its recently updated report that the global contrast media market is approximated at a value of US$ 6.06 billion in 2024 and is forecasted to reach US$ 9.04 billion by 2034.

Increasing prevalence of chronic disorders such as cancer and cardiac diseases are leading to a surge in diagnostic procedures. Contrast agents are widely employed in radiology, cardiology, and magnetic resonance imaging to identify the disorder and determine accurate treatment procedure for patients. The contrast agents are majorly used to detect gastrointestinal, cancer, and neurological diseases.

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Barium-based, iodinated, gadolinium-based, and microbubble are some of the types of contrast media. Iodine-based or iodinated contrast media solutions are widely used due to their effectiveness in enhancing the clarity of X-ray images and computed tomography scans. These agents also aids in improving the visualization of central nervous system and other internal organs. Iodinated contrast media basically is a form of radiographic dye containing iodine.

North America is one of the key markets for contrast media. The United States was the first country to approve gadolinium-based contrast agent. Furthermore, the presence of advanced healthcare infrastructure is driving the contrast media market growth in North America.

Key Takeaways from Market Study

Global demand for contrast media is projected to increase at a CAGR of 4.1% during the forecast period (2024 to 2034).
The United States market is evaluated at US$ 1.87 billion in 2024.
Demand for contrast media in South Korea is estimated to rise at a CAGR of 4.3% during the next 10 years.
Iodinated contrast agent sales are projected to reach US$ 3.97 billion by 2034.
“Rising demand for nanosized contrast agents is creating lucrative opportunities for leading market players,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Contrast Media Market:

Spago Nanomedical AB, FUJIFILM Corporation, Guerbet, Lantheus Medical Imaging, Inc., AMAG Pharmaceuticals, SANOCHEMIA Pharmazeutika, General Electric Company, Trivitron Healthcare, Bracco Diagnostic, Inc., Nano Therapeutics Pvt. Ltd., Daiichi Sankyo Co., Ltd.

Winning Strategy

In recent years, the acquisition strategy highly helped industry leaders to maintain a strong position in the market and increase their product folios. In the long-term scenario, key manufacturers of contrast media are set to invest in research and development activities to introduce improved contrast agents. This tactic is also expected to attract a wider consumer base.

Country-wise Analysis

"Sales of Contrast Agents Are Driven by the Existence of an Established Healthcare System"

Over the next ten years, the United States market is anticipated to grow more rapidly due to the country's well-established healthcare system and the substantial financial efforts made by major companies in the creation of efficient contrast media. Additionally, contrast media sales are being driven by a number of variables, including the availability of healthcare facilities, the high demand for diagnostic procedures, the accessibility of cutting-edge technology, the growth of disease screening programs, and the management of illness in the area.

Contrast Media Industry News:

The use of Bayer's Ultravist (iopromide)-300, -370, an iodine-based contrast agent, for contrast-enhanced mammography (CEM) was authorized by the US Food and Drug Administration in 2023.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global contrast media market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on type (barium-based, iodinated, gadolinium-based, microbubble), imaging modality (X-ray/computed tomography (CT), magnetic resonance imaging (MRI), ultrasound), application (radiology, interventional radiology, interventional cardiology), and end user (hospitals, ambulatory surgical centers, diagnostic imaging centers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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