According to research report the global contrast media market
is expected to reach USD 8.68 billion by 2027 from USD 4.56 billion in
2018, at a CAGR of 3.9%. The major factors driving the growth of the
contrast media/contrast agents market include increasing number of
research and funding activities for research of contrast agents and
their applications.
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North America to dominate the market in 2017
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the
regions considered for a geographic analysis of the global contrast
media/contrast agents market. North American contrast media/contrast
agents market is expected to account for the largest share of the global
contrast media/contrast agents market. However, the Asia Pacific
contrast media/contrast agents market is expected to grow at the highest
CAGR in the forecast period. This growth can be attributed to the
increasing R&D investments and favorable demographic scenario in
China, rising aging population and cancer incidence in Japan, growing
investments in the Indian radiology market, and growing focus of market
players & increasing government support in other APAC countries.
The prominent players in the global contrast media/contrast agents
market include GE Healthcare (US), Bracco Imaging S.p.A. (Bracco)
(Italy), Bayer HealthCare (Bayer) (Germany), and Guerbet Group (Guerbet)
(France).
By modality, the X-ray/CT segment is expected to account for the largest share of the market in 2017
On the basis of modality, the market is segmented into X-ray/CT, MRI,
and ultrasound procedures. In 2017, X-ray/CT procedures are expected to
command the largest share of the global contrast media market. However,
the ultrasound segment is expected to grow at the highest CAGR from 2017
to 2022. Growth in the ultrasound segment can largely be attributed to
several advantages offered by ultrasound contrast agents over other
contrast agents and the rising number of approvals for ultrasound
contrast agents in the US, Europe, and Japan.
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By type, the iodinated contrast media segment is expected to account for the largest share of the market in 2017
On the basis of type, the contrast media/contrast agents market is
segmented into iodinated contrast media, gadolinium-based contrast
media, barium-based contrast media, and microbubble contrast media. In
2017, the iodinated contrast media segment is estimated to account for
the largest share of the contrast media/contrast agents market, by type.
However, the microbubble contrast media segment is expected to grow at
the highest CAGR during the forecast period. The high growth of the
microbubble segment can be attributed to the large number of on-going
academic researches that are exploring various attributes of
microbubbles in off-label indications for diagnosis as well as drug
delivery.