Contrast Media Agents Market to 2027- Global Analysis and Forecasts By Type (Iodinated Contrast Media, Gadolinium Based Contrast Media, Barium-Based Contrast Media, Microbubble Contrast Media); Imaging Modality (X-Ray/CT, Magnetic Resonance Imaging, Ultrasound); Indication (Cardiovascular Disorders, Cancer, Gastrointestinal Disorders, Musculoskeletal Disorders, Neurological Disorders, Nephrological Disorders); Route of Administration (Intravascular, Oral, Rectal), and Geography
The global contrast media agents market is expected to reach US$ 6,860.6 Mn in 2027 from US$ 4,855.2 Mn in 2018. The contrast media agents market is estimated to grow with a CAGR of 4.0% from 2019-2027.
The market is driven by the factors such as, increasing prevalence of chronic diseases, development in diagnostic imaging modalities coupled with rising numbers of diagnostic test procedures and increasing numbers of approvals for contrast agents. However, the factors such as side effects associated with contrast media agents and stringent regulations for radio imaging agents are expected to restrain the growth of market.
In an aging society where chronic diseases is a leading factor in the health system, technical advancements are necessary to preserve the quality of life through keeping the affordable prices. Chronic diseases can be defined as medical conditions that lasts for one year or more and requires ongoing medical attention or limit activities of daily living.
Chronic diseases such as cancer, heart diseases, musculoskeletal diseases, and others are the leading causes of death and disability that requires several imaging modalities for diagnostic and treatment monitoring purposes. According to the National Center for Chronic Disease Prevention and Health Promotion, chronic diseases takes up US$3.3 trillion in annual health care costs.
The rising prevalence of musculoskeletal diseases are the major factors of the market growth. For instance, according to Arthritis Foundation, in 2017, approximately 54 million adults have been diagnosed with arthritis. Almost 300,000 babies and children have arthritis or a rheumatic condition. The common type of arthritis is osteoarthritis, which affects approximately 31 million Americans. By the end of 2040, number of people expected to have doctor-diagnosed arthritis will be above 78 million.
Global contrast media agents market was segmented by type, imaging modality, indication and route of administration. The type segment was classified as iodinated contrast media, gadolinium based contrast media, barium-based contrast media, microbubble contrast media. Based on the imaging modality the market is classified as X-Ray/CT, magnetic resonance imaging and ultrasound. On the basis of indication the market is classified as cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, nephrological disorders. And based on the route of administration the market is divided into intravascular, oral and rectal.
Some of the major primary and secondary sources included in the report for the contrast media agents market are World Health Organization, Dubai Health Authority, Canadian Cancer Society, Canadian Agency for Drugs and Technologies in Health, American Cancer Society, CBI Ministry of Foreign Affairs, Cancer Organization Soutien, Global Burden of Diseases, Entabeni Pretoria, South Africa and others.
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