Global Contrast Media Market to register a 6.3% CAGR during the forecast period of 2017 – 2023. Contrast Media is a substance that enhances the visibility of internal organs during radiography. Medical imaging plays a crucial role in diagnosis of diseases, like GI disorders, cancer diagnosis, and cardiovascular complications.
The World Health Organization (WHO) reported that by 2020, three-quarters of global deaths will be caused due to chronic diseases of which 71-75% of deaths will be due to cardiac related problems. Early detection of such ailments can help provide patients with better treatment. The increase in prevalence of chronic disease and cancer patients necessitates better diagnostic techniques provoking elevated use of contrast media. This is expected to bolster the contrast media market in the forecast period.
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Prominent companies in the contrast media market are
• AMAG Pharmaceuticals (US)
• Bracco Diagnostic Inc. (Italy)
• Lantheus Medical Imaging (U.S.)
• Covidien (Ireland)
• Mallinckrodt Pharmaceuticals (UK)
• Targeson (US)
• nanoPET Pharma GmbH (Germany)
• NanoScan Imaging (US)
• Medrad Inc. (US)
• Guerbet Group (France)
• Subhra Pharma Private Limited (India)
• GE Healthcare (US)
• CMC Contrast AB (Sweden)
• Daiichi (Japan)
• Bayer Healthcare Pharmaceuticals (Germany)
• Contrast Media Market Segmental Analysis
The contrast media market study is segmented into
• Route of application
Based on the type, the market is segmented into
• Intravenous contrast materials
• Iodine-based contrast media agents
Based on the application, the market is segmented into
• nephrological disorders
• cardiovascular disorders
Based on the route of administration, the market is segmented into
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Contrast Media Market Regional Insights:
MRFR’s regional analysis of the Contrast Media Market gives a holistic approach towards the demographic progress of the market in the forecast years. Based on the region, the contrast media market is segmented into Asia Pacific, North America, Europe, and the Rest-of-the-World (RoW).
North America is expected to dominate the market, holding a significant market share owing to its strong technological infrastructure. Increase in medical tourism, rise in the number of cancer patients and patients suffering from chronic disorders, and market players likely to deliver cost-competitive contrast media products are factors which are predicted to fuel the regional market growth.
Robust economic improvement, existence of influential market players, and technological advancements in the European region can augment the regional market proliferation.
The contrast media market in the Asia Pacific region, led by the rapidly proliferating healthcare sector and developing economy, has emerged as a promising market, globally. Increasing markets in countries, such as Japan, China, and India, are pushing up the growth in the regional market. Moreover, the APAC Contrast Media Market is driven by the rising population and the spreading awareness towards the functionalities of contrast media.
The rapidly growing healthcare industry and emerging economies like India, Japan, and China in the Asia Pacific region, a huge population, and increase in awareness towards benefits of contrast media are market dynamics expected to drive the regional market growth.
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