The global contrast media market is projected to grow at a CAGR of 4.23% to reach US$7,113.910 million by 2025 from US$5,548.198 million in 2019.
Cancer is considered a disease that has a significant impact on society and is considered the second leading cause of death globally according to the World Health Organization. Additionally, according to the WHO, approx. 70% of death occur in low and middle-income counties due to cancer, which is attributable to the fact that there is a lack of awareness among the people and most often they do not get routine checkups done. Individuals in the US for example, lead a sedentary and unhealthy lifestyle; indulge in the use of tobacco and alcohol, which increases their chances of contracting so e form of cancer. However, these trends are changing as they are changing as some individuals are preferring to go for full body checkups or routine checkups, once or twice annually to detect any serious diseases such as COPD, or a tumor that may result in cancer. This is leading to an increase in the demand for contrasting agents as they aid the doctors in analyzing the different test results from CT scans, MRIs, and X-ray exams effectively and accurately, and is thereby leading to a surge in the market growth over the forecast period.
Advancing exam and testing equipment available is encouraging the market players to improve their products
As the medical industry standards are improving and are forced to comply with the ANSI and ISO regulations, the market players are encouraged to provide enhanced products and advanced products with better properties. This is being done so that the contrast media can improve the clarity of the images produced by the machines and provide them with a more accurate diagnosis, which is also a factor contributing to the market growth.
Furthermore, to boost the market growth even further and to accelerate the development of better contrast media, the market players are taking essential steps such as upgrading their portfolios by launching new products and offering a variety of products.
Some of the examples of product offerings are as follows:
The North American region to hold a noteworthy share over the forecast period owing to rising cases of different types of cancer in the high-income countries such as the US and the Asia Pacific region is estimated to increase its share over the forecast period owing to the investments being made into the healthcare sector
The North American region is expected to hold a noteworthy market share over the forecast period owing to the fact many leading pharmaceutical companies are involved in providing contrast media products in this region and the well-established healthcare industry and infrastructure in the countries such as the US. In addition, there is faster adoption of solutions and reagents that are able to enhance the medical scanning images in the region owing to the rising cases of different types of cancer and other diseases among the individuals in the US, which is attributed to the sedentary lifestyle they lead.
Whereas, the Asia Pacific region is estimated to show promising growth prospects over the forecast period. This is attributable to the fact that several initiatives are being taken by the government and many investments are being poured in order to accelerate the development of the healthcare sector and healthcare sector in countries such as India, to make quality services available to the public.
|Market size value in 2019||US$5,548.198 million|
|Market size value in 2025||US$7,113.910 million|
|Growth Rate||CAGR of 4.23% from 2019 to 2025|
|Forecast Unit (Value)||USD Million|
|Segments covered||Media Type, Administration Route, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Bracco Diagnostic Inc., GENERAL ELECTRIC COMPANY, Lantheus Medical Imaging, Inc., Spago Nanomedical AB, Bayer, Jodas Expoim, Magnus Health, TAEJOON PHARM, Trivitron Healthcare|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the contrast media market size by 2025?
A1. The global contrast media market is projected to reach a market size of US$7,113.910 million by 2025.
Q2. What is the size of the global contrast media market?
A2. Contrast Media Market was valued at US$5,548.198 million in 2019.
Q3. What are the growth prospects for the contrast media market?
A3. The contrast media market is projected to grow at a CAGR of 4.23% over the forecast period.
Q4. How is the global contrast media market segmented?
A4. The global contrast media market has been segmented by media type, administration route, application, end-users, and geography.
Q5. Which region holds the largest market share in the contrast media market?
A5. The North American region is expected to hold a noteworthy market share in the contrast media market.
Bracco Diagnostic Inc.
GENERAL ELECTRIC COMPANY
Lantheus Medical Imaging, Inc.
Spago Nanomedical AB
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