Contrast media/contrast agents market is projected to grow at a CAGR of 3.8%

NEW YORK, Dec. 18, 2019 /PRNewswire/ -- Contrast media/contrast agents market is projected to grow at a CAGR of 3.8%.

The global contrast media/contrast agents market is projected to reach USD 6.0 billion by 2024 from an estimated USD 5.0 billion in 2019, growing at a CAGR of 3.8% during the forecast period. The contrast media market has witnessed various advancements in products and their approvals to meet the needs of patients and radiologists worldwide.

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Growth in the market can primarily be attributed to factors such as the increasing number of approvals for contrast agents and the rising volume of CT and MRI examinations globally. The growing number of research & funding activities for contrast agents and their applications provide immense opportunities for players in the contrast media market.

The X-ray/CT procedures segment to hold the largest contrast media market share in 2019.
Based on modality, the market is segmented into X-ray/CT, MRI, and ultrasound procedures.In 2019, X-ray/CT procedures segment is expected to command the largest share of the global contrast media market.

The large share of this segment can be attributed to the increasing number of CT examinations across the globe, coupled with advancements in CT imaging technologies.

The cardiovascular disorders segment is projected to grow at the highest CAGR during the forecast period.
Based on the indication, the contrast media market is categorized into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders.The cardiovascular disorders segment is expected to grow at the highest CAGR during the forecast period.

Improvements in cardiac MRI procedures in cath labs, favorable reimbursement policies for contrast media used in cardiovascular diagnosis, and strong healthcare infrastructure in developed countries are some of the factors driving this segment.

Asia Pacific to witness the highest growth during the forecast period.
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2019–2024. Factors such as increasing R&D investments and favorable demographic scenario in China, rising aging population and cancer incidence in Japan, growing investments in the Indian radiology market, and growing focus of market players & increasing government support in other APAC countries are driving the growth of the contrast media market in this region.

Break of primary participants was as mentioned below:
• By Company Type: Tier I: 55%, Tier II: 25%, Tier III: 20%
• By Designation: C-Level Executives: 43%, Directors: 32%, Others: 25%
• By Region: North America: 38%, Europe: 23%, Asia Pacific : 29%, RoW: 10%

GE Healthcare (US), Bracco Imaging (Italy), Bayer HealthCare (Germany),Guerbet (France), Lantheus (US) were the leading players in the contrast media market.

Research Coverage
This report studies the Contrast Media/Contrast Agents market based on product, application, modality, indication, route of administration and region.The report also studies the different factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.

It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.

Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market shares of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the Contrast Media/Contrast Agents market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the contrast media market and garner greater market shares.

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