The global contrast media market size is expected to reach USD 5.33 billion by 2028 according to a new study by Polaris Market Research. The report “Contrast Media Market Share, Size, Trends, Industry Analysis Report, By Application (Cardiovascular Disorders, Neurological Disorders, Gastrointestinal Disorders, Cancer, Nephrological Disorders, Musculoskeletal Disorders, Others); By Product; By Modality; By Regions; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Contrast media are used to improve internal images produced by MRI, CT scans, X-rays and allows radiologists to the difference between normal and diseased tissues. These are the substances, which significantly increase the quality of the image, without reacting to body tissues. They contrast the selected areas of the human body surrounding tissues, thereby, improving the image quality and visibility of blood vessels and other tissues.
In 2020, the neurological market segment dominated with the largest share. The rising prevalence of neurological disorders and high adoption of imaging systems in the advanced economies are largely responsible for the market growth for contrast media. The diagnostic evaluation of such disorders boosted the adoption of MRI-based contrast media to provide better images of neurons and associated malignancies.
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The cancer market segment is projected to witness a lucrative growth rate over the study period. This is due to rising cancer cases all over the globe and the increasing necessity for early diagnosis to start medication. Colorectal cancer is one of the largest cancer-causing diseases having a high mortality rate, particularly in developed nations. Moreover, different techniques such as optical colonoscopy, and CT scans are used to diagnose colorectal and other cancer forms, before they metastasize to other places.
Asia Pacific contrast media demand is projected to grow at a lucrative rate over the assessment period. This high market growth rate is attributed to the deep-rooted existence of relations with foreign companies with local players through collaborations and partnerships, in the emerging nations.
For instance, General Electric has its subsidiary in China manufacturing world-class contrast media products in the market. Moreover, the region comprises of most populous nations India and China, having significant cancer suffering patients, which ultimately driving the market growth in both countries.
Market participants such as Lantheus Medical Imaging, Inc., Bayer AG, General Electric, Nano Therapeutics Pvt. Ltd., Guerbet, Bracco Diagnostic, Inc., iMax, and Trivitron Healthcare are some of the key players operating in the global market for contrast media.
Polaris Market research has segmented the contrast media market report on the basis of product type, modality, application, and region:
Contrast Media, Product Outlook (Revenue - USD Million, 2016 - 2028)
Contrast Media, Modality Outlook (Revenue - USD Million, 2016 - 2028)
Contrast Media, Application Outlook (Revenue - USD Million, 2016 - 2028)
Contrast Media, Regional Outlook (Revenue - USD Million, 2016 - 2028)