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Contrast Media Market to Hit US$ 9.04 Billion with a 4.1% CAGR by 2034: Fact.MR Report

Contrast Media Market

Innovations in contrast media packaging such as multi-dose, polymer, and bulk containers contributing to overall market growth

ROCKVILLE, MD, UNITED STATES, December 10, 2024 /EINPresswire.com/ -- Rising need for accurate diagnostics is driving the adoption of contrast agents. Fact.MR, a market research and competitive intelligence provider, reveals in its recently updated report that the global contrast media market is approximated at a value of US$ 6.06 billion in 2024 and is forecasted to reach US$ 9.04 billion by 2034.

Increasing prevalence of chronic disorders such as cancer and cardiac diseases are leading to a surge in diagnostic procedures. Contrast agents are widely employed in radiology, cardiology, and magnetic resonance imaging to identify the disorder and determine accurate treatment procedure for patients. The contrast agents are majorly used to detect gastrointestinal, cancer, and neurological diseases.

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Barium-based, iodinated, gadolinium-based, and microbubble are some of the types of contrast media. Iodine-based or iodinated contrast media solutions are widely used due to their effectiveness in enhancing the clarity of X-ray images and computed tomography scans. These agents also aids in improving the visualization of central nervous system and other internal organs. Iodinated contrast media basically is a form of radiographic dye containing iodine.

North America is one of the key markets for contrast media. The United States was the first country to approve gadolinium-based contrast agent. Furthermore, the presence of advanced healthcare infrastructure is driving the contrast media market growth in North America.

Key Takeaways from Market Study

Global demand for contrast media is projected to increase at a CAGR of 4.1% during the forecast period (2024 to 2034).
The United States market is evaluated at US$ 1.87 billion in 2024.
Demand for contrast media in South Korea is estimated to rise at a CAGR of 4.3% during the next 10 years.
Iodinated contrast agent sales are projected to reach US$ 3.97 billion by 2034.
“Rising demand for nanosized contrast agents is creating lucrative opportunities for leading market players,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Contrast Media Market:

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.

Winning Strategy

In recent years, the acquisition strategy highly helped industry leaders to maintain a strong position in the market and increase their product folios. In the long-term scenario, key manufacturers of contrast media are set to invest in research and development activities to introduce improved contrast agents. This tactic is also expected to attract a wider consumer base.

Country-wise Analysis

"Sales of Contrast Agents Are Driven by the Existence of an Established Healthcare System"

Over the next ten years, the United States market is anticipated to grow more rapidly due to the country's well-established healthcare system and the substantial financial efforts made by major companies in the creation of efficient contrast media. Additionally, contrast media sales are being driven by a number of variables, including the availability of healthcare facilities, the high demand for diagnostic procedures, the accessibility of cutting-edge technology, the growth of disease screening programs, and the management of illness in the area.

Contrast Media Industry News:

The use of Bayer's Ultravist (iopromide)-300, -370, an iodine-based contrast agent, for contrast-enhanced mammography (CEM) was authorized by the US Food and Drug Administration in 2023.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global contrast media market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on type (barium-based, iodinated, gadolinium-based, microbubble), imaging modality (X-ray/computed tomography (CT), magnetic resonance imaging (MRI), ultrasound), application (radiology, interventional radiology, interventional cardiology), and end user (hospitals, ambulatory surgical centers, diagnostic imaging centers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

Check out More Related Studies Published by Fact.MR Research:

The Contrast Media Injectors market is expected to garner US$ 3.1 Billion in 2032, reflecting a CAGR of 7.4% from 2022 to 2032. The market is anticipated to yield absolute dollar growth of US$ 1.6 Billion by 2032.

The global serum-free media market size is projected to increase from a size of US$ 1.97 billion in 2024 to US$ 4.08 billion by the end of 2034, rising at a CAGR of 7.6% from 2024 to 2034.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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Tel: +1 (628) 251-1583
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S. N. Jha
Fact.MR
+ +1 628-251-1583
sales@factmr.com

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