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Global Contrast Media Market Growth Continues

In several radiology procedures, iodinated and gadolinium-based contrast media are used frequently. These agents are often crucial to providing an accurate diagnosis and are almost always effective and safe when properly administered.

Gadolinium contrast media (sometimes referred to as an MRI contrast media, chemicals, or “dyes”) are chemical compounds used in MRI scans. When the gadolinium contrast medium is inserted into the body, it strengthens and boosts the accuracy of the MRI pictures (or images). It helps the radiologist to report more precisely on how the body works and whether there is any illness or abnormality present.

The global contrast media market size is expected to reach $6.3 billion by 2025, rising at a market growth of 3.52% CAGR during the forecast period, according to a report from ResearchAndMarkets.com.

“The contrast media market is still in the growing phase but will evolve significantly in the years to come. The factors attributing to market growth include an increase in image-guided surgical procedures, improvements in medical technology, an increase in diagnostic imaging and an increase in cancer and cardiac disorder rates,” according to the report.

“Various factors such as the rise in acceptability for contrast agents and the increasing number of diagnostic centers that have expanded diagnostic imaging services contribute to the growth of the market,” the report continues. “Several advanced methods, such as the technologies used in MRI imaging is a gas microbubble, are likely to boost the market growth. Factors including growing investments in the contrast media market and the changes in the radiopharmaceuticals and health care sector are fueling the market growth.”

A report from MarketsandMarkets also predicts growth.

“The global contrast media market size is expected to reach $6.0 billion by 2024 from an estimate of $5.0 billion in 2019, growing at a CAGR of 3.8% during the forecast period,” according to the report. “Growth in the market can primarily be attributed to the increasing number of approvals of contrast agents, the rising volume of CT and MRI examinations globally, and the rapidly growing cancer and CVD population across the globe. Rising research activities on contrast agents and their applications are the key areas of opportunity in this market. On the other hand, factors such as side effects and allergic reactions, as well as the adverse effects associated with contrast agents are expected to limit market growth to a certain extent.”

Based on indication, the market is categorized into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders and nephrological disorders. The cardiovascular disorders segment is expected to command the largest share and highest growth rate during the forecast period, according to MarketsandMarkets.

“Improvements in cardiac MRI procedures in cath labs, favorable reimbursement policies for contrast media used in cardiovascular diagnosis and robust health care infrastructure in developed countries are some of the factors driving this segment,” the report states.

Some leading players in the market include GE Healthcare, Bayer AG, Guerbet Group, Bracco Imaging S.p.A and Lantheus Medical Imaging.

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