Cancer Contrast Media Market Size Worth $ 1,468.79 Million By 2032 | CAGR: 9.4%

The global cancer contrast media market size is expected to reach USD 1,468.79 million by 2032, according to a new study by Polaris Market Research. The report “Cancer Contrast Media Market Share, Size, Trends, Industry Analysis Report, By Product (Microbubble, Gadolinium-Based, Iodinated, and Barium-Based); By Modality; By End User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing use of contrast media in various imaging techniques, such as MRI (Magnetic Resonance Imaging) and CT (Computed Tomography) scans, for providing accurate and clear images of affected areas is driving the market’s growth. Additionally, growing research & development activities focused on improving the efficacy, safety, and specificity of contrast agents are further propelling the market’s growth.

For instance, in September 2023, Philips incorporated a new super-resolution contrast-enhanced ultrasound application in their EPIQ Elite ultrasound system. The new solution enables 3 times better spatial resolution compared to previous models and could also improve diagnostic accuracy.

Furthermore, the rapid shift towards personalized medicine and targeted therapies across the globe creates new opportunities for the development of new contrast agents that can be easily tailored to specific cancer types and help in providing more accurate and effective diagnostic solutions for each patient. Also, molecular imaging is becoming increasingly popular and used in several diseases worldwide, with a particular focus on cancer care.

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The potential of nanoparticles has grown drastically for the improvement of cancer diagnostics, therapeutics, and treatment management, as nanoparticles are serving as labels or even labeled carriers for better monitoring of drug delivery as well as serving as imaging agents for improved imaging contrast. Such qualities of nanoparticles offer lucrative opportunities for imaging agents in order to address the current limitations in oncologic imaging.

With the growing focus on key companies towards developing innovative cancer screening and clinical development programs that lead to early diagnosis with greater efficacy and safety, there is an increased demand for contrast media. For instance, in June 2023, Bayer announced that they had started the phase III clinical trial called QUANTI. This program mainly aims to evaluate the safety & efficacy of gadoquatrane, a next-generation contrast agent.

Cancer Contrast Media Market Report Highlights

• The iodinated segment accounted for a noteworthy share on account of its significant use in CT scans and X-rays to improve imaging procedures
• X-ray/compound tomography segment captured the largest share, which is attributed to its growing demand in contrast media for highlighting the anatomical features
• The hospitals & clinics segment led the industry market, owing to improvements in hospital infrastructure and the availability of advanced diagnostic tools in such modalities
• North America dominated the global market, that is due to the region’s growing aging population and easier access to innovative cancer diagnostic tools
• The key market players include Bracco Imaging, Bayer, Daiichi Sankyo, Hengrui Medicine, GE Healthcare, Subhra Pharma, and Lantheus Holdings

Polaris Market Research has segmented the cancer contrast media market report based on product, modality, end user, and region:

Cancer Contrast Media, Product Outlook (Revenue - USD Million, 2023 - 2032)

• Microbubble
• Gadolinium-Based
• Iodinated
• Barium-Based

Cancer Contrast Media, Modality Outlook (Revenue - USD Million, 2023 - 2032)

• Ultrasound
• Magnetic Resonance Imaging
• X-Ray/Computed Tomography

Cancer Contrast Media, End User Outlook (Revenue - USD Million, 2023 - 2032)

• Hospitals & Clinics
• Diagnostic Imaging Centers
• Research Institutes
• Others

Cancer Contrast Media, Regional Outlook (Revenue - USD Million, 2023 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Australia
• Malaysia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

Cancer Contrast Media Market Report Scope