The growth in the contrast media market can be attributed to the rising prevalence of chronic diseases, growing approvals of contrast agents, rising volume of CT and MRI examinations performed, growing number of diagnostic centers and hospitals, and availability of reimbursement. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, high cost and inaccessibility of advanced therapeutics may restrict market growth to a certain extent.
According to research report the global contrast media market size is projected to reach USD 5.9 billion by 2026 from USD 4.9 billion in 2021, at a CAGR of 3.7% during the forecast period.
Based on type, the contrast agents market is segmented into iodinated contrast media, gadolinium-based contrast media, microbubble contrast media, and barum-based contrast media. Iodinated contrast media account for the largest share of the contrast agents market. The large share of this segment can be attributed to the growing number of angioplasty procedures performed globally.
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Based on modality, contrast agents market can be segmented into X-ray/CT, MRI and Ultrasound. X-ray/CT account for the largest share of the contrast media market. The large share of this segment can be attributed to the increasing number of CT examinations across the globe, coupled with advancements in CT imaging technologies that majorly use injectable contrast media.
Based on routes of administration, the contrast media market is segmented into oral, intravascular, rectal, and other routes of administration. The intravascular route segment is expected to hold majority of market share and have the highest growth rate. The widespread use of injectable contrast media in most modern imaging modalities, such as CT and MRI scanning, is one of the major factors driving the growth of the intravascular segment.
Based on indication, the contrast agents market has been segmented into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders. Cardiovascular disorders accounted for the largest market share and highest growth rate. The large share of this segment can be attributed to the rising geriatric population and the increasing prevalence of CVD across the globe.
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Based on application, the contrast media market is segmented into radiology, interventional radiology, and interventional cardiology. The radiology applications segment commanded the largest share of the contrast media market. The large share of this segment can be attributed to the increasing use of medical imaging techniques, such as X-ray, CT, MRI, and ultrasound, in these applications.
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