Contrast Media Market by Type (Iodinated Contrast Media), Form (Liquid, Powder), Modality (X-ray, CT, MRI, Ultrasound), Route of Administration (Oral, Rectal), Indication (Cancer, Neurological, GI, Musculoskeletal Disorders) - Global Forecast to 2029
The contrast media market is valued at an estimated USD 6.3 billion in 2023 and is projected to reach USD 9.7 billion by 2029 at a CAGR of 7.5% during the forecast period. Contrast media are chemical reagents that are administered to patients undergoing radiology imaging procedures to gain enhanced images and better results of the procedure. Patients with chronic conditions often require require diagnosis, imaging forms a major part of their treatment. Hence, with an increase in the prevalence of chronic conditions, the procedures that need contrast media are also expected to increase, hence enabling market growth.
Scope of the Report
Years Considered for the Study
2021-2029
Base Year
2022
Forecast Period
2023-2029
Units Considered
Value (USD) Billion
Segments
Type, Form, Modality, Route of Administration, Indication, Application, and End User
Regions covered
North America, Europe, Asia Pacific, and Rest of the World
"Computed Tomography (CT) segment is projected to witness highest growth rate in the contrast media market, by modality, during the forecast period."
The contrast media market is segmented into X-ray, CT, MRI, and Ultrasound, on the basis of modality. The CT segment in contrast media is experiencing significant growth, owing to rise in the number of CT examinations that need the use of contrast media, coupled with its benefits such as, high resolution imaging, applications across broad areas such as CVD, cancer, GI diseases, and neurological conditions, among others.
"Interventional Radiology segment is projected to register highest growth rate in the contrast media market, by application, during the forecast period."
The global contrast media market is bifurcated into radiology, interventional radiology, and interventional cardiology, based on application. The interventional radiology segment is expected to grow at the highest rate within the contrast media market. The surge in demand for interventional radiology procedures is attributed to various factors such as introduction of sophisticated technologies among CT, MRI and ultrasound modalities, coupled with rise in the preference for minimally invasive procedures for the diagnosis of various medical conditions.
"Asia Pacific: The fastest-growing region contrast media market."
The global contrast media market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Emerging economies in the Asia Pacific region such as China and India have been significantly investing in the development of their existing healthcare infrastructure, coupled with the rising prevalence of chronic conditions. These factors are anticipated to provide growth opportunities for contrast media companies operating in this region.
The break-up of the profile of primary participants in the contrast media market:
By Company Type: Tier 1 - 35%, Tier 2 - 40%, and Tier 3 - 25%
By Designation: C-level - 45%, D-level - 29%, and Others - 26%
By Region: North America - 35%, Europe - 27%, Asia Pacific - 32%, Rest of the World- 6%
The key players in contrast media market are GE HealthCare (US), Bracco Imaging S.p.A. (Italy), Bayer AG (Germany), Guerbet (France), Lantheus Medical Imaging (US), Unijules Life Sciences Ltd. (India), JB Pharma (India), Sanochemia Pharmazeutika (Germany), TAEJOON PHARM Co., Ltd. (South Korea), Jodas Expoim (India), iMax Diagnostic Imaging Limited (Ireland), YZJ Group (China), Livealth Biopharma Pvt. Ltd. (India), Unispire Biopharma Private Limited (India), Acro Lifesciences (I) Pvt. Ltd. (India), Stanex Drugs & Chemical Pvt. Ltd. (India), Beijing Beilu Pharmaceutical Co., Ltd. (China), Rege Imaging & Cine Films Private Limited (India), K DIAM EXIM (India), Onko Ylac San. ve Tic. A.Þ. (Turkey), Fresenius Kabi (Germany), Biem Ilac San. ve Tic. A.S. (Turkey), and AdvaCare (US).
Research Coverage:
This research report categorizes the contrast media market by type (iodinated contrast media, microbubble contrast media, gadolinium-based contrast media, and barium-based contrast media), form (liquid, powder, and other forms), modality (CT, X-ray, MRI, and ultrasound), route of administration (intravascular route, rectal route, oral route, and other routes of administration), indication (cancer, cardiovascular diseases, gastrointestinal disorders, neurological disorders, and musculoskeletal disorders, nephrological disorders), application (radiology, inteventional radiology, and interventional cardiology), end user (hospital, clinics, and ambulatory surgical centers, and diagnostics imaging centers), and region (North America, Europe, Asia Pacific, and Rest of the World). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the contrast media market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products offered, key strategies; acquisitions, and partnerships. new product launches, and recent developments associated with the contrast media market. This report covers the competitive analysis of upcoming startups in the contrast media market ecosystem.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall contrast media market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (rising prevalence of chronic diseases, rising volume of CT and MRI examinations performed, growing number of approvals of contrast media, and rising number of diagnostic centers and hospitals), restraints (Side-effects and risks of allergic reactions associated with contrast media), opportunities (development of generic contrast media and increasing research on contrast media), and challenges (preference of alternative modalities that do not need contrast media and dearth of trained professionals) influencing the growth of the contrast media market
Product Development/Innovation: Detailed insights on research & development activities, and new product launches and approvals in the contrast media market.
Market Development: Comprehensive information about lucrative markets - the report analyses the contrast media market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the contrast media market
Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like GE HealthCare (US), Bracco Imaging S.p.A. (Italy), Bayer AG (Germany), Guerbet (France), Lantheus Medical Imaging (US) among others in the contrast media market strategies.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS OF STUDY
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 CONTRAST MEDIA MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 MARKET STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 RESEARCH DESIGN
2.1.1 SECONDARY RESEARCH
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary sources
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
FIGURE 5 REVENUE SHARE ANALYSIS
FIGURE 6 CAGR PROJECTIONS: SUPPLY-SIDE ANALYSIS
2.2.2 TOP-DOWN APPROACH
FIGURE 7 CONTRAST MEDIA MARKET: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 DATA TRIANGULATION METHODOLOGY
2.4 MARKET SHARE ANALYSIS
2.5 STUDY ASSUMPTIONS
2.5.1 MARKET ASSUMPTIONS
2.5.2 GROWTH RATE ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.6.1 METHODOLOGY-RELATED LIMITATIONS
2.6.2 SCOPE-RELATED LIMITATIONS
2.7 RISK ASSESSMENT
TABLE 1 RISK ASSESSMENT ANALYSIS
2.8 RECESSION IMPACT
3 EXECUTIVE SUMMARY
FIGURE 9 CONTRAST MEDIA MARKET, BY TYPE, 2023 VS. 2029 (USD BILLION)
FIGURE 10 CONTRAST MEDIA MARKET, BY FORM, 2023 VS. 2029 (USD BILLION)
FIGURE 11 CONTRAST MEDIA MARKET, BY MODALITY, 2023 VS. 2029 (USD BILLION)
FIGURE 12 CONTRAST MEDIA MARKET, BY ROUTE OF ADMINISTRATION, 2023 VS. 2029 (USD BILLION)
FIGURE 13 CONTRAST MEDIA MARKET, BY INDICATION, 2023 VS. 2029 (USD BILLION)
FIGURE 14 CONTRAST MEDIA MARKET, BY APPLICATION, 2023 VS. 2029 (USD BILLION)
FIGURE 15 CONTRAST MEDIA MARKET, BY END USER, 2023 VS. 2029 (USD BILLION)
FIGURE 16 GEOGRAPHICAL SNAPSHOT OF CONTRAST MEDIA MARKET
4 PREMIUM INSIGHTS
4.1 CONTRAST MEDIA MARKET OVERVIEW
FIGURE 17 RISING PREVALENCE OF CHRONIC DISEASES TO DRIVE MARKET
4.2 NORTH AMERICA: CONTRAST MEDIA MARKET, BY END USER & COUNTRY (2022)
FIGURE 18 HOSPITALS, CLINICS, & AMBULATORY SURGERY CENTERS ACCOUNTED FOR LARGEST SHARE OF NORTH AMERICAN MARKET IN 2022
4.3 CONTRAST MEDIA MARKET: REGIONAL MIX
FIGURE 19 ASIA PACIFIC TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
4.4 CONTRAST MEDIA MARKET: DEVELOPED VS. DEVELOPING MARKETS
FIGURE 20 DEVELOPING MARKETS TO REGISTER HIGHER GROWTH DURING FORECAST PERIOD
4.5 CONTRAST MEDIA MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
FIGURE 21 CHINA AND INDIA TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 CONTRAST MEDIA MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising prevalence of chronic diseases
TABLE 2 CANCER INCIDENCE, BY REGION, 2020 VS. 2030 VS. 2040 (MILLION)
TABLE 3 PROJECTED INCREASE IN GLOBAL NUMBER OF CANCER PATIENTS, 2020 VS. 2030 VS. 2040
5.2.1.2 Growing number of approvals of contrast media
5.2.1.3 Rising volume of CT and MRI examinations performed
TABLE 4 NUMBER OF MRI EXAMS PERFORMED PER 1,000 INHABITANTS, BY COUNTRY, 2019-2021
TABLE 5 NUMBER OF CT EXAMS PERFORMED PER 1,000 INHABITANTS, BY COUNTRY, 2019-2021
5.2.1.4 Growing number of diagnostic centers and hospitals
5.2.1.5 Availability of reimbursement
5.2.1.6 Increasing demand for early disease diagnosis
5.2.1.7 Increasing funding by public-private organizations
TABLE 6 LIST OF BENEFICIARY HOSPITALS OF NHS WALES
5.2.2 RESTRAINTS
5.2.2.1 Side-effects and risks of allergic reactions associated with contrast media
TABLE 7 LIST OF SIDE-EFFECTS/REACTIONS TO CONTRAST MEDIA
5.2.3 OPPORTUNITIES
5.2.3.1 Generic contrast media
5.2.3.2 Increasing research on contrast media
TABLE 8 INDICATIVE LIST OF RESEARCH STUDIES
5.2.3.3 Growth opportunities in emerging economies
5.2.3.4 Increasing demand for minimally invasive imaging procedures
5.2.4 CHALLENGES
5.2.4.1 Preference for alternative modalities of imaging that do not require contrast media
5.2.4.2 Restriction of linear gadolinium-based contrast media and product recalls
5.2.4.3 Dearth of trained professionals
TABLE 9 US: METROPOLITAN AREAS WITH HIGH EMPLOYMENT LEVELS FOR RADIOLOGY TECHNOLOGISTS AND TECHNICIANS, 2022
5.2.4.4 Shortage of contrast media
5.3 VALUE CHAIN ANALYSIS
FIGURE 23 VALUE CHAIN ANALYSIS: CONTRAST MEDIA MARKET
5.4 SUPPLY CHAIN ANALYSIS
FIGURE 24 SUPPLY CHAIN ANALYSIS: CONTRAST MEDIA MARKET
5.5 TECHNOLOGY ANALYSIS
5.6 PORTER'S FIVE FORCES ANALYSIS
5.6.1 THREAT OF NEW ENTRANTS
5.6.2 INTENSITY OF COMPETITIVE RIVALRY
5.6.3 BARGAINING POWER OF BUYERS
5.6.4 BARGAINING POWER OF SUPPLIERS
5.6.5 THREAT OF SUBSTITUTES
5.7 REGULATORY LANDSCAPE
TABLE 10 INDICATIVE LIST OF REGULATORY AUTHORITIES GOVERNING CONTRAST MEDIA MARKET
5.7.1 EU REGULATIONS
5.7.2 FDA REGULATIONS
5.7.3 JPMA REGULATIONS
5.8 PATENT ANALYSIS
FIGURE 25 PATENT ANALYSIS: IODINATED CONTRAST MEDIA
FIGURE 26 PATENT ANALYSIS: GADOLINIUM-BASED CONTRAST MEDIA
5.9 KEY CONFERENCES & EVENTS IN 2024-2025
TABLE 11 LIST OF CONFERENCES & EVENTS IN CONTRAST MEDIA MARKET
5.10 PRICING ANALYSIS
TABLE 12 AVERAGE SELLING PRICE OF CONTRAST MEDIA
5.11 TRADE ANALYSIS
TABLE 13 IMPORT DATA FOR OPACIFYING PREPARATIONS FOR X-RAY EXAMINATIONS AND DIAGNOSTIC REAGENTS FOR ADMINISTRATION TO PATIENTS, BY COUNTRY, 2018-2022 (USD MILLION)
TABLE 14 EXPORT DATA FOR OPACIFYING PREPARATIONS FOR X-RAY EXAMINATIONS AND DIAGNOSTIC REAGENTS FOR ADMINISTRATION TO PATIENTS, BY COUNTRY, 2018-2022 (USD MILLION)
5.12 ECOSYSTEM ANALYSIS
FIGURE 27 ECOSYSTEM ANALYSIS: CONTRAST MEDIA MARKET
TABLE 15 ROLE IN ECOSYSTEM
FIGURE 28 KEY PLAYERS OPERATING IN CONTRAST MEDIA MARKET
5.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END USERS
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END USERS (%)
5.14.2 BUYING CRITERIA
FIGURE 30 KEY BUYING CRITERIA FOR TOP END USERS
TABLE 17 KEY BUYING CRITERIA FOR END USERS
6 CONTRAST MEDIA MARKET, BY TYPE
6.1 INTRODUCTION
TABLE 18 CONTRAST MEDIA MARKET, BY TYPE, 2021-2029 (USD MILLION)
6.2 IODINATED CONTRAST MEDIA
6.2.1 HIGH DEMAND FOR IODINATED CONTRAST MEDIA DUE TO HIGHER DOSAGE REQUIRED IN CT SCANS-KEY FACTOR DRIVING MARKET GROWTH
TABLE 19 IODINATED CONTRAST MEDIA MARKET, BY REGION, 2021-2029 (USD MILLION)
TABLE 20 IODINATED CONTRAST MEDIA MARKET, BY COUNTRY, 2021-2029 (USD MILLION)
6.3 GADOLINIUM-BASED CONTRAST MEDIA
6.3.1 SUSPICION REGARDING SAFETY PROFILE TO CHALLENGE MARKET GROWTH
TABLE 21 GADOLINIUM-BASED CONTRAST MEDIA MARKET, BY REGION, 2021-2029 (USD MILLION)
TABLE 22 GADOLINIUM-BASED CONTRAST MEDIA MARKET, BY COUNTRY, 2021-2029 (USD MILLION)
6.4 MICROBUBBLE CONTRAST MEDIA
6.4.1 EXTREMELY POPULAR AMONG PHYSICIANS WORLDWIDE
TABLE 23 MICROBUBBLE CONTRAST MEDIA MARKET, BY REGION, 2021-2029 (USD MILLION)
TABLE 24 MICROBUBBLE CONTRAST MEDIA MARKET, BY COUNTRY, 2021-2029 (USD MILLION)
6.5 BARIUM-BASED CONTRAST MEDIA
6.5.1 ADVERSE EFFECTS ASSOCIATED WITH USE TO NEGATIVELY IMPACT MARKET
TABLE 25 BARIUM-BASED CONTRAST MEDIA MARKET, BY REGION, 2021-2029 (USD MILLION)
TABLE 26 BARIUM-BASED CONTRAST MEDIA MARKET, BY COUNTRY, 2021-2029 (USD MILLION)
7 CONTRAST MEDIA MARKET, BY FORM
7.1 INTRODUCTION
TABLE 27 CONTRAST MEDIA MARKET, BY FORM, 2021-2029 (USD MILLION)
7.2 LIQUID
7.2.1 INCREASING ADOPTION OF EASY-TO-USE LIQUID FORM OF CONTRAST MEDIA ACROSS HOSPITALS AND DIAGNOSTIC CENTERS TO DRIVE MARKET
TABLE 28 LIQUID CONTRAST MEDIA MARKET, BY REGION, 2021-2029 (USD MILLION)
7.3 POWDER
7.3.1 EASE OF HANDLING, STORAGE, AND TRANSPORTATION TO FAVOR ADOPTION
TABLE 29 POWDER CONTRAST MEDIA MARKET, BY REGION, 2021-2029 (USD MILLION)
7.4 OTHER FORMS
TABLE 30 CONTRAST MEDIA MARKET FOR OTHER FORMS, BY REGION, 2021-2029 (USD MILLION)
8 CONTRAST MEDIA MARKET, BY MODALITY
8.1 INTRODUCTION
TABLE 31 NUMBER OF PROCEDURES PERFORMED, BY MODALITY, 2017-2020