Contrast Media Market

Contrast Media Market Outlook (2024 to 2034)

Increasing at a CAGR of 4.1%, the global contrast media market size is projected to increase from a valuation of US$ 6.06 billion in 2024 to US$ 9.04 billion by the end of 2034, as revealed in this recently updated study by Fact.MR.

Extensive use of iodinated contrast media in angiography and fluoroscopy is expected to boost its demand over the coming 10 years. Contrast media is used in medical imaging to improve the contrast of body fluids and structures. X-ray, CT scan, angiography, and ultrasound imaging all use these substances. The rising popularity of nanosized agents is one of the notable contrast media market trends.

Demand for contrast media is increasing as a result of a surge in the number of installations of the aforementioned devices in healthcare set-ups. Other factors driving the contrast media market growth include rising cases of injuries, increasing number of radiology procedures using contrast media, surge in elderly population, and also the growing number of diagnostic imaging centers.

• The North American contrast media market size is forecasted to reach US$ 3.48 billion by 2034.
• Western Europe is estimated to hold 21.1% of the global contrast media market share in 2024.

Governments across the globe are subsidising diagnostic imaging services generously. Healthcare spending is increasing noticeably every year as a result of the expanding usage of diagnostic imaging in the domains of radiology and image-guided minimally invasive surgeries.

• Short Term (2024 Q2 to 2027): Immediate future of contrast media is expected to be influenced by its enhancing image quality for the diagnosis of tumors in radiology.
• Medium Term (2027 to 2030): Increasing popularity of contrast media in the North America region is expected for the medium term.
• Long Term (2030 to 2034): Growing research and funding by several governments across the globe to upgrade the safety parameters of contrast media will dictate long-term market growth.

Report Attributes	Details
Contrast Media Market Size (2024E)	US$ 6.06 Billion
Forecasted Market Value (2034F)	US$ 9.04 Billion
Global Market Growth Rate (2024 to 2034)	4.1% CAGR
South Korea Market Value (2034F)	US$ 394.2 Million
Barium-based Contrast Media Demand Growth (2024 to 2034)	4.3% CAGR
Key Companies Profiled	Spago Nanomedical AB FUJIFILM Corporation Guerbet Lantheus Medical Imaging, Inc. AMAG Pharmaceuticals SANOCHEMIA Pharmazeutika General Electric Company Trivitron Healthcare Bracco Diagnostic, Inc. Nano Therapeutics Pvt. Ltd. Daiichi Sankyo Co., Ltd.

Which Dynamics are Influencing Sales of Contrast Media Solutions?

“Contrast Agents Application High in Radiology Procedures to Minimize Human Errors”

Contrast media is experiencing rising use in radiology procedures and attention to minimizing human error and enhancing patient safety. It is also used to increase the diagnostic value and obtain image clearing. It aids in separating particular body parts from the nearby tissue. By increasing visibility, it becomes simpler for doctors to diagnose disease. Therefore, to come on any concluding statement for a specific ailment, healthcare specialists mandate to endure radiological examination with contrast media.

Growing variety of chronic illnesses and disorders, together with complex co-morbidities, is giving rise to several diagnostic imaging procedures, including CT scans and MRIs, where contrast media is frequently favored.

“Rising Use of Contrast Media Injectors in Diagnostic Imaging Treatment Procedures”

Rising prevalence of cardiovascular disorders and cancer due to unhealthy lifestyle choices and other causes is driving demand for the most cutting-edge diagnostic imaging modalities. For a clear image of internal organs or tissue, contrast media are frequently used during common imaging procedures such as MRI, CT scans, and X-rays.

Patients frequently receive contrast media injections to help medical practitioners distinguish between healthy and harmful environments. Contrast agents provide advanced viewing of biological processes and accurate acquisition of difficult-to-image anatomical regions. They help to eliminate radiologist perception errors, which often have an impact on how the underlying anatomy is really interpreted. As a result of the aforementioned advantages the demand for contrast media is expected to rise during the projected period.

What’s Hampering Progress of Contrast Media Manufacturers?

“High Cost Contrast Media and Certain Risks Related to Usage”

High cost of various contemporary imaging equipment and contrast media injectors as well as a lack of experienced professionals to run these modalities are expected to hamper the market growth. Some negative effects and allergic reactions connected to its use may also limit its use.

When contrast media is injected, air emboli can form and impede right ventricular outflow or obstruct pulmonary arterioles, leading to serious consequences such cardiovascular collapse. All such negative effects connected to contrast media are expected to impede the market players’ revenue growth.

Which Tactics are Set to Aid Start-Ups in This Business Space?

“Investments in R&D Leading to Production of Advanced Contrast Media”

New companies eager to enter the contrast media market should focus on investing in research and development efforts to enhance their product folios. By launching advanced contrast media products, new companies are set to attract wider consumer base and earn high profits.

Country-wise Analysis

What is the Sales Outlook for Contrast Media in the United States?

“Presence of Established Healthcare System Driving Sales of Contrast Agents”

Attribute	United States
Market Value (2024E)	US$ 1.87 Billion
Growth Rate (2024 to 2034)	4.7% CAGR
Projected Value (2034F)	US$ 2.97 Billion

Presence of established healthcare system and significant financial investments made by key firms in the development of effective contrast media are expected to boost the United States market growth during the next 10 years. Furthermore, factors such as the accessibility of cutting-edge technologies, the availability of healthcare facilities, the high demand for diagnostic procedures, and an increase in disease screening programs and illness management in the area are driving sales of contrast media.

What Makes China an Opportunistic Market for Contrast Media Suppliers?

“Rising Cases of Chronic Disorders Contributing to Increasing Use of Contrast Media Solutions”

Attribute	China
Market Value (2024E)	US$ 437.2 Million
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 795.2 Million

Increase in the use of radiopaque contrast media, the presence of highly progressive catheterization labs, the rise in use of MRI procedures for treating cardiovascular diseases, and the growing demand for minimally-invasive techniques are boosting the use of contrast agents in China. The rising need for high-tech imaging systems and a strong prominence on manufacturing more sophisticated contrast agents are other reasons that are driving the market growth of target product in China.

Category-wise Analysis

Which Type of Contrast Media is Exhibiting Increasing Demand?

“Iodinated Contrast Media Widely Used in Cancer Detection and Angioplasty Procedures”

Attribute	Iodinated Contrast Media
Segment Value (2024E)	US$ 2.67 Billion
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 3.97 Billion

Iodine-based compounds are set to hold a dominant global market share by 2034. Iodinated contrast media can be non-ionic and have a low osmolality, making them suitable for a variety of applications. Additionally, the rise in angioplasty procedures is anticipated to increase the need for iodinated contrast media.

During radiographic procedures, iodinated contrast media, an intravenous radiocontrast that contains iodine, improves the visibility of circulatory networks and organs. Iodinated contrast media have improved visibility for diseases such as cancer diagnosis.

Which Imaging Modality of Contrast Media is Highly Popular?

“Rising Cases Related to CT Scan Examinations Driving Use of X-ray/CT Contrast Media”

Attribute	X-ray/Computed Tomography (CT)
Segment Value (2024E)	US$ 2.77 Billion
Growth Rate (2024 to 2034)	4.2% CAGR
Projected Value (2034F)	US$ 4.2 Billion

X-ray/computer tomography (CT) scan procedures widely require contract media to detect health issues. Its strong acceptance rate and cost-effectiveness are driving the overall market growth. To discover numerous diseases and conditions, a CT scan uses X-rays and computer software to produce images of the bones, soft tissues, and blood arteries inside the body. Sales of X-ray/CT contrast media are predicted to increase due to rising popularity of CT scan examination procedures, surge in the usage of contemporary CT scan equipment, and a growing focus on upgrading previously existing products.

Competitive Landscape

Key players the contrast media market primarily rely on the introduction of new products based on cutting-edge technological developments, as well as on strategic expansion initiatives such as mergers & acquisitions, partnerships, and collaborations. These tactics are aiding leading companies to increase their profit shares and market reach.

• In 2023, the United States Food and Drug Administration approved the use of Bayer’s Ultravist (iopromide)-300, -370, iodine-based contrast agent, for contrast-enhanced mammography (CEM).

Key Segments of Contrast Media Market Research

• By Type :

  • Barium-based
  • Iodinated
  • Gadolinium-based
  • Microbubble

• By Imaging Modality :

  • X-ray/Computed Tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Ultrasound

• By Application :

  • Radiology
  • Interventional Radiology
  • Interventional Cardiology

• By End User :

  • Hospitals
  • Ambulatory Surgical Centers
  • Diagnostic Imaging Centers

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa