Contrast Media Agent Market Is Witnessing Significant Growth Due To Increasing Prevalence Of Long-Term Diseases & Complex Comorbidities Till 2025
The
global contrast media agents market size is estimated to
reach USD 5.96 billion by 2025, according to a new report by Grand View Research,
Inc., expanding at a CAGR of 3.8% during the forecast period. Increasing burden
of chronic diseases is augmenting diagnostic imaging procedure volumes, which
is providing a fillip to the market.
Competitive
strategies, such as acquisitions and indication extensions for existent
products, adopted by players are expected to trigger the growth of the market.
The companies stirring changes in the space is restricted to few in number.
Among these, Guerbet, GE Healthcare, and Bayer were the forerunners with
top-selling drugs in their respective portfolios and commanding more than 40%
share in 2016. Bayer holds a prominent position in the arena owing to its
leading MRI agent, Gadavist/Gadovist, a macrocyclic gadolinium agent. Guerbet
is giving a stiff competition to its contemporaries since it has joined forces
with Mallinckrodt. The acquisition has led to a streamlined portfolio of MRI
and x-ray/CT contrast materials, which now hold center position in this space.
GE competes with Omnipaque and Visipaque as a part of its suite of offerings,
which account for nearly 12.0% market share.
Along
with increasing incidence of chronic diseases, rising demand and use of
diagnostic imaging modalities is driven by advancements in the underlying
technologies. Equipment advancements include innovation such as syringeless
injectors, which help in achieving greater accuracy in dose delivery, shorter
examination time, and higher patient throughput.
Regionally,
North America will continue to dominate the contrast media agents market
throughout the forecast period. Presence of well-established healthcare
infrastructure, availability of advanced technologies as well as recent launch
of new contrast media agents for specific indications are contributing to the
growth of the region.
Browse full
research report on Contrast Media Agent Market: www.grandviewresearch.com/industry-analysis/contrast-media-contrast-agents-market
Further key
findings from the study suggest:
- In 2016, iodinated contrast agents registered
the highest sales in the market due to high penetration of contrast media
agents in x-ray and CT procedures, driven by availability of non-ionic
stable iodinated agents for improved diagnosis
- X-ray/CT modality technique led the market in
terms of revenue in 2016 due to its wide acceptance and utilization in the
market
- Gastrointestinal applications are anticipated
to register the fastest growth over the forecast period due to regulatory
approval of new products in the U.S. market. For instance, Tagitol V was
recently approved by the U.S. FDA for use in adult patients undergoing CTC
procedures
- On the regional front, North America captured
the highest revenue in 2016 owing to presence of well-established
healthcare infrastructure and availability of advanced technologies
- Europe was the second largest segment in 2016,
attributable to increasing usage of diagnostic imaging modalities such as
MRI, CT, and ultrasound in the region
- Key players in this space are Bayer AG, GE
Healthcare, Guerbet, Lantheus Medical Imaging, and Bracco Diagnostics
- Most of the key players are focusing on
entering untapped regions and expanding their product portfolios through
mergers and acquisitions.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/healthcare
Grand View Research has segmented the global contrast media agents market
on the basis of agent type, modality, application, and region:
Contrast
Media Agents Type Outlook (Revenue, USD Billion, 2016 - 2025)
- Iodinated
contrast media
- Barium-based
contrast media
- Gadolinium-based
contrast media
- Microbubble
contrast media
Contrast
Media Agents Modality Outlook (Revenue, USD Billion, 2016 - 2025)
- X-ray/CT
contrast agents
- MRI
contrast agents
- Ultrasound
contrast agents
Contrast
Media Agents Application Outlook (Revenue, USD Billion, 2016 - 2025)
- Cardiovascular
disorders
- Neurological
disorders
- Gastrointestinal
disorders
- Cancer
- Nephrological
disorders
- Musculoskeletal
disorders
- Others
Contrast
Media Agents Regional Outlook (Revenue, USD Billion, 2016 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- France
- Asia
- Japan
- India
- Row
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-contrast-media-contrast-agents-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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