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Global Contrast Media/Contrast Agent Market Size, Forecast: By Type: Iodinated Contrast Media, Gadolinium-Based Contrast Media, Microbubble Contrast Media, Barium-Based Contrast Media; By Modality: X-Ray/CT, Magnetic Resonance Imaging, Ultrasound; By Indication; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Contrast Media/Contrast Agent Market Outlook
The global contrast media/contrast agent market stood at a value of around USD 5.07 billion in 2023. The market is further expected to grow at a CAGR of 3.9% in the forecast period of 2024-2032 to attain a value of USD 6.48 billion by 2032.
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Heightened Usage of Iodinated Contrast Media to Aid the Global Contrast Media/Contrast Agent Industry Growth
Based on type, the iodinated contrast media segment is predicted to hold a significant market share in the contrast media/contrast agent industry. This growth can be attributed to the increased implementation of iodinated contrast media in X-ray and computer tomography (CT) scans. It is also used in fluoroscopy and venography.
In addition, the iodinated contrast agents, based on iodine, which is a naturally occurring element, are incredibly effective in image contrasting. Meanwhile, the barium-based contrast media are commonly taken orally and are available in powder, liquid, tablet, and paste forms. These factors are estimated to aid the overall market growth in the forecast period.
North America to Account for a Significant Market Share in the Global Contrast Media/Contrast Agent Industry
North America is estimated to hold a significant share of the contrast media/contrast agent industry in the forecast period. This increase can be attributed to the presence of the leading market players in the region. In addition, the rapid investments in the healthcare industry, along with the availability of state-of-the-art healthcare infrastructure, are also aiding the market growth. The growing availability of advanced diagnostic tools and the increased demand for diagnostic scanning and imaging technology are also predicted to bolster the industry growth. Furthermore, the rising incidences of chronic diseases are anticipated to provide a further boost to the overall market growth in the forecast period.
Contrast Media/Contrast Agent: Market Segmentation
Contrast media or contrast agents are materials used to enhance images of the inside of the body produced by X-Rays and MRI scans, among others. These substances help to create a contrast of solid structure and fluids present in the body. These materials are also crucial in determining normal and abnormal conditions in the image. In addition, these substances can be ingested, administered by enema, and injected into the blood vessels. In some situations, contrast agent makes the appearance of specific tissues in the body different, thus, helping to contrast between different spaces by accentuating certain areas of the body.
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By type, the market is divided into:
- Iodinated Contrast Media
- Gadolinium-Based Contrast Media
- Microbubble Contrast Media
- Barium-Based Contrast Media
On the basis of modality, the market can be segmented into:
- X-Ray/CT
- Magnetic Resonance Imaging
- Ultrasound
Based on indication, the industry can be distributed into:
- Cardiovascular Disorders
- Cancer
- Gastrointestinal Disorders
- Musculoskeletal Disorders
- Neurological Disorders
- Others
Based on end use, the market can be categorised into:
- Hospitals, Clinics, and Ambulatory Surgery Centres
- Diagnostic Imaging Centres
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rise in Demand for Image-Based Diagnostics to Augment the Global Contrast Media/Contrast Agent Industry
The increasing incidences of chronic diseases are anticipated to drive the contrast media/contrast agent industry growth in the coming years. According to the WHO statistics, approximately 10 million people succumbed to cancer in 2020, out of which the most common types include breast, lungs, colon and rectum, and prostate cancer. In this regard, image-guided diagnostic procedures are increasingly being used to help determine the location, size, and condition of the tumour, whether it is malignant or benign, thus, making efforts to reduce the mortality risk associated with cancer. Moreover, the growing geriatric population, with increased susceptibility to chronic diseases, is also anticipated to propel the demand for contrast media. Furthermore, the rising investments in the research and development of image-based diagnosis technologies to enhance their precision, processing, and applications are anticipated to aid the industry growth. These factors are estimated to positively impact the market growth in the forecast period.
Key Industry Players in the Global Contrast Media/Contrast Agent Market
The report gives a detailed analysis of the following key players in the global contrast media/contrast agent market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- GE Healthcare
- Bracco Imaging S.P.A
- Bayer AG
- Guerbet
- Nano Therapeutics Pvt. Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Modality, Indication, End Use, Region |
| Breakup by Type | Iodinated Contrast Media, Gadolinium-Based Contrast Media, Microbubble Contrast Media, Barium-Based Contrast Media |
| Breakup by Modality | X-Ray/CT, Magnetic Resonance Imaging, Ultrasound |
| Breakup by Indication | Cardiovascular Disorders, Cancer, Gastrointestinal Disorders, Musculoskeletal Disorders, Neurological Disorders, Others |
| Breakup by End Use | Hospitals, Clinics, and Ambulatory Surgery Centres, Diagnostic Imaging Centres |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | GE Healthcare, Bracco Imaging S.P.A, Bayer AG, Guerbet, Nano Therapeutics Pvt. Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Contrast Media/Contrast Agent Market Analysis
8.1 Key Industry Highlights
8.2 Global Contrast Media/Contrast Agent Historical Market (2018-2023)
8.3 Global Contrast Media/Contrast Agent Market Forecast (2024-2032)
8.4 Global Contrast Media/Contrast Agent Market by Type
8.4.1 Iodinated Contrast Media
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Gadolinium-Based Contrast Media
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Microbubble Contrast Media
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Barium-Based Contrast Media
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Contrast Media/Contrast Agent Market by Modality
8.5.1 X-Ray/CT
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Magnetic Resonance Imaging
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Ultrasound
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Contrast Media/Contrast Agent Market by Indication
8.6.1 Cardiovascular Disorders
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Cancer
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Gastrointestinal Disorders
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Musculoskeletal Disorders
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Neurological Disorders
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Contrast Media/Contrast Agent Market by End Use
8.7.1 Hospitals, Clinics, and Ambulatory Surgery Centres
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Diagnostic Imaging Centres
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Contrast Media/Contrast Agent Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Contrast Media/Contrast Agent Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Contrast Media/Contrast Agent Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Contrast Media/ Contrast Agent Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.2 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Contrast Media/Contrast Agent Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Contrast Media/Contrast Agent Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 GE Healthcare
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Bracco Imaging S.P.A
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Bayer AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Guerbet
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Nano Therapeutics Pvt. Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Contrast Media/Contrast Agent Market: Key Industry Highlights, 2018 and 2032
2. Global Contrast Media/Contrast Agent Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Contrast Media/Contrast Agent Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Contrast Media/Contrast Agent Historical Market: Breakup by Modality (USD Billion), 2018-2023
5. Global Contrast Media/Contrast Agent Market Forecast: Breakup by Modality (USD Billion), 2024-2032
6. Global Contrast Media/Contrast Agent Historical Market: Breakup by Indication (USD Billion), 2018-2023
7. Global Contrast Media/Contrast Agent Market Forecast: Breakup by Indication (USD Billion), 2024-2032
8. Global Contrast Media/Contrast Agent Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Contrast Media/Contrast Agent Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Contrast Media/Contrast Agent Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Contrast Media/Contrast Agent Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Contrast Media/Contrast Agent Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Contrast Media/Contrast Agent Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Contrast Media/Contrast Agent Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Contrast Media/Contrast Agent Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Contrast Media/Contrast Agent Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Contrast Media/Contrast Agent Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Contrast Media/Contrast Agent Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Contrast Media/Contrast Agent Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Contrast Media/Contrast Agent Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Contrast Media/Contrast Agent Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Contrast Media/Contrast Agent Market Structure
Key Questions Answered in the Report
In 2023, the global contrast media/contrast agent market attained a value of nearly USD 5.07 billion.
The market is projected to grow at a CAGR of 3.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 6.48 billion by 2032.
The major drivers of the industry, such as the increased demand for advanced diagnostic procedures, increasing incidences of chronic disorders, rising geriatric population, and increasing investments in research and development of contrast agents by the leading manufacturers, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing availability of improved diagnostic facilities and the rise in demand for image-guided diagnostic procedures.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include iodinated contrast media, gadolinium-based contrast media, microbubble contrast media, and barium-based contrast media.
The significant segments, based on modality, include X-ray/CT, magnetic resonance imaging, and ultrasound.
The major segments, based on indication, include cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and others.
The significant end uses include hospitals, clinics and ambulatory surgery centres, and diagnostic imaging centres.
The major players in the industry are GE Healthcare, Bracco Imaging S.P.A, Bayer AG, Guerbet, and Nano Therapeutics Pvt. Ltd., among others.
Analyst Review
The global contrast media/contrast agent market attained a value of USD 5.07 billion in 2023, driven by the increased incidences of chronic disorders. Aided by the rising demand for image-guided diagnostics, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 3.9%. The market is projected to reach USD 6.48 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of type, the market can be distributed into iodinated contrast media, gadolinium-based contrast media, microbubble contrast media and barium-based contrast media. By modality, the industry can be segmented into X-ray/CT, magnetic resonance imaging, and ultrasound. Based on indication, the market can be categorised into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and others. On the basis of end use, the industry can be segregated into hospitals, clinics and ambulatory surgery centres, and diagnostic imaging centres. The major regional markets for contrast media/contrast agent are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include GE Healthcare, Bracco Imaging S.P.A, Bayer AG, Guerbet, Nano Therapeutics Pvt. Ltd., and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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