USD 6.9 billion
Contrast Media Market Size, Share, and Growth Analysis
Contrast Media Market By Type (Iodinated Contrast Media, Gadolinium-based Contrast Media), By Form (Liquid Contrast Media, Powder Contrast Media), By Modality(X-RAY, CT, MRI, Ultrasound), By Route of Administration (Intravascular Route, Oral Route, Rectal Route), By Indication(Cardiovascular Disease, Cancer), By Application(Radiology, Interventional Radiology, Interventional Cardiology), By End User, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35B2070 |
Region:
Global |
Published Date: September, 2024
Pages:
260
|Tables:
91
|Figures:
75
Format -
Contrast Media Market Insights
Contrast Media Market size was valued at USD 6.9 billion in 2023 and is poised to grow from USD 7.46 billion in 2024 to USD 13.91 billion by 2032, growing at a CAGR of 8.1% during the forecast period (2025-2032).
Contrast media market is impacted by the growing incidences of chronic diseases, improvements in imaging modalities, and increasing diagnostic imaging procedures. Nonetheless, the market is restrained by factors like concerns for adverse reactions and safety including allergic reactions. Another key restraining factor witnessed in the market includes significantly priced contrast agents, which may impede its adoption in the developing regions. Yet, the market will grow progressively due to improvements in the development of contrast agents, growing integration of technologies, and flourishing markets.
US Contrast Media Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
X-ray/CT
Fastest Growth
ultrasound
Growth Rate
8.1% CAGR
Global Contrast Media Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Contrast Media Market Segments Analysis
Global Contrast Media Market is segmented by Type, Form, Modality, Route of Administration, Indication, Market, By Application and region. Based on Type, the market is segmented into Iodinated contrast media, Gadolinium-based contrast media, Microbubble contrast media and Barium-based contrast media. Based on Form, the market is segmented into Liquid, Powder and Other forms. Based on Modality, the market is segmented into X-ray, Computed tomography (CT), Magnetic resonance imaging (MRI) and Ultrasound. Based on Route of Administration, the market is segmented into Intravascular route, Oral route, Rectal route and Other routes of administration. Based on Indication, the market is segmented into Cardiovascular disease, Cancer, Gastrointestinal disorders, Musculoskeletal disorders, Neurological disorders and Nephrological disorders. Based on Market, By Application, the market is segmented into Radiology, Interventional radiology, Interventional cardiology, Market, By End User, Hospitals, clinics, and ASCs and Diagnostic imaging center. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Modality
Based on modality, the contrast media market is categorized into X-ray, CT, MRI, Ultrasound. The CT or computed tomography segment held a notable share of the market in 2023 and is expected to lead over the forecast period as well owing to its best diagnostic accuracy, mounting demand for emergency imaging widespread availability. Computed tomography scans offer cross-detailed pictures that increases their significance for treating and diagnosing diverse conditions, mainly for internal injuries and cancers. They are widely preferred owing to effectiveness and speed propelling the demand of contrast media. CT equipment are also easily available in clinics and hospitals, thus increasing their accessibility to the large population.
On the other hand, the ultrasound segment is projected to grow considerably over the forecast period owing to its increased preference by patients due to non-invasiveness, real-time imaging, and mounting applications. Ultrasound is painless imaging techniques, due to which it is highly preferred for clinicians and patients. It offers better quality real-time imaging, which is demanded for improved guidance, examinations, and surgeries, mainly in vascular and obstetrics. The growing use of ultrasound in multiple medical domains like oncology, cardiology, and emergency medicine, raises the need for contrast agents.
Analysis by End User
Based on end user, the market is segmented into hospitals, clinics, and ambulatory surgery centers, diagnostic imaging centers. The hospitals segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to the increasing patient admissions and availability of comprehensive services and improved technologies. Hospitals manage large patient volume on a daily basis, demanding increased more diagnostic procedures that need contrast media. These setting offer broad range of services like x-ray, MRI, CT scans and more which use contrast agent. They are equipped with latest equipment and technologies, allowing complex procedures that use contrast media, thus driving the segmental growth.
On the other hand, the diagnostic imaging centers segment will hold a notable market share in the forthcoming years owing to the availability and accessibility to improved technologies and growing popularity among outpatients. Since a greater number of individuals are preferring outpatient care, these centers are gaining prominence for routing imaging, impacting the need for contrast agents. Most imaging centers are heavily investing in advanced technologies like CT and MRI equipment, which increases the services range. These diagnostic centers are also more easily accessible than hospitals, offering convenient locations for individuals to obtain imaging facilities, thus driving the segment's growth.
Global Contrast Media Market By modality 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Contrast Media Market Regional Insights
Region-wise, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the presence of advanced healthcare infrastructure, growing demand for diagnostic imaging, and robust research and development. North America brags about its well-developed healthcare infrastructure equipped with superior imaging facilities and technologies. Furthermore, the growing patient volume that demands imaging procedures is notably impacted by the rising cases of chronic diseases and emphasis on early diagnosis. Key biotechnology and pharmaceutical companies are increasing investing in research and development, resulting in advanced and modernized contrast agents. The leading players profiled in the region include GE Healthcare, Lantheus Medical Imaging, Advacare Pharma, Bracco Diagnostics, Bayer, and more.
Asia-Pacific is the fastest-growing region in global contrast media market due to the speedy expansion of healthcare, growing urbanization and population, and increasing disposable income of consumers. Major investments in medical infrastructure and rising accessibility to diverse services and facilities are demanding diagnostic imaging technologies. Speedily growing population and urbanization is also fueling the demand for diagnostic services due to growing cases of chronic illnesses. Moreover, developing economies is resulting in high disposable income, enabling a large patient population to access advanced diagnostic services.
Global Contrast Media Market By Geography, 2021-2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Contrast Media Market Dynamics
Contrast Media Market Drivers
Growing Acceptance and Awareness
-
Growing patient awareness regarding the significance of diagnostic imaging in disease management and detection is resulting in growing demand for contrast agents. The market growth is also propelled by the growing healthcare professional advocacy. Medical professionals are largely recognizing the significance and advantages of contrast-enhanced imaging for precise diagnosis and results, resulting in a greater number of prescriptions.
Healthcare Globalization to Fuel Market Growth
-
Increased mobility and growth of medical tourism are majorly fueling the growth of the contrast media market. Growing globalization of healthcare, comprising cross-border healthcare facilities is resulting in increased demand for developed imaging techniques. This comprises the adoption of contrast media. As more individuals are preferring medical facilities and treatment abroad, the medical tourism is increasing considerably, impacting the use of contrast media.
Contrast Media Market Restraints
Low Awareness in the Developing Regions
-
In most developing markets, the number of healthcare professionals and availability of improved technologies and facilities may be restricted, which could majorly limit the market growth. There may also be low awareness for the advantages and uses of contrast media, hindering the market growth. lack of training for medical experts for the operation of contrast agents and improved imaging modalities may restrict its adoption.
Alternate Imaging Techniques
-
Improvements in imaging technologies like magnetic resonance imaging and ultrasound that do not demand contrast agents may also slow down its demand, which may lessen the need for customary contrast media. Moreover, the development of novel diagnostic techniques that are not dependent on contrast agents may be a challenge for the market growth.
Request Free Customization of this report to help us to meet your business objectives.
Contrast Media Market Competitive Landscape
The global contrast media market is progressing remarkably due to the strengthening competition by prominent players like GE Healthcare, Bracco Imaging S.p.A., Lantheus Medical Imaging, J.B. Chemicals & Pharmaceuticals Limited, and Unijules Life Sciences Ltd. who are engaged in expanding their product portfolio, geographic reach, and investments. The market is witnessing notable improvements in imaging technologies supported by efforts by new product developments, and collaborations and strategic partnerships. Overall, focus on enhancing imaging quality and patient outcomes will transform the competitive landscape in the future.
Top Players in Contrast Media Market
- Bayer AG (Germany)
- GE Healthcare (USA)
- Bracco Imaging S.p.A. (Italy)
- Guerbet (France)
- Lantheus Holdings, Inc. (USA)
- Merck KGaA (Germany)
- FUJIFILM Corporation (Japan)
- Taejoon Pharm Co., Ltd. (South Korea)
- Beijing Beilu Pharmaceutical Co., Ltd. (China)
- Nano Therapeutics Pvt. Ltd. (India)
- CMC Contrast AB (Sweden)
- Imax Diagnostic Imaging (Canada)
- Trivitron Healthcare (India)
- Fresenius Kabi (Germany)
- Sanochemia Pharmazeutika AG (Austria)
- J.B. Chemicals & Pharmaceuticals Ltd. (India)
- Jodas Expoim Pvt. Ltd. (India)
- Livealth Biopharma (China)
- Spago Nanomedical AB (Sweden)
- Subhra Pharma Pvt. Ltd. (India)
Contrast Media Market Recent Developments
- In November 2023, Bracco Imaging S.p.A. and ulrich GmbH Co KG announced a fresh long-term alliance that will help the supply of Bracco’s proprietary improved MR injector in the USA. This distribution will be done under selected private label procedure.
- In January 2023, Bayer announced that it received approval for Ultravist™-300, -370, an iodine-enabled contrast agent for CEM (contrast-enhanced mammography), without or with ultrasound, or as a substitute when MRI is not available or is contraindicated.
- In December 2023, Guerbet declared that it received approval for marketing Elucirem™ (Gadopiclenol) in the European Union. This is a GBCA (macrocyclic gadolinium-based contrast agent) that will be essentially used in contrast-enhanced MRI with high level relaxivity.
Contrast Media Key Market Trends
- Improved Safety Profiles: The current research and studies in gadolinium contrast agents has emphasized on lowering the threat of NSF (nephrogenic systemic fibrosis) and associated ill-effects. The novel agents that contain comparatively less gadolinium retention and enhanced safe profiles, are increasingly being preferred and developed. Also, non-ionic low osmolar are majorly being used in computed tomography to reduce side-effects, mainly in individuals with renal function issues.
- Novel Contrast Agents: There is an increased interest in developing new agents that are dedicated to specific diseases states or tissues. For example, targeted agents that comply with certain markers or receptors in tumors. Nanoparticles are also being widely studied and explored for their capabilities to offer improved imaging proficiency with less side-effects and better targeting.
Contrast Media Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the contrast media market is considerably progressing due to the growing innovations in contrast agents like introduction of safe and non-ionic agents, rising number of strategic acquisitions and alliances, and simplified standards and approvals. However, the market is restrained by the challenges associated with logistics, growing environmental concerns, and patient factors like patient refusal due to concerns for adverse effects. North America is anticipated to lead the market owing to improved healthcare infrastructure, supportive regulatory environment, and robust research and development. Nonetheless, a few opportunities for the growth of the contrast media market include increasing education and awareness, emphasis on management of chronic diseases, and heavy integration of telemedicine.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.9 billion |
| Market size value in 2032 | USD 13.91 billion |
| Growth Rate | 8.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Contrast Media Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Contrast Media Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Contrast Media Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Contrast Media Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Contrast Media Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Contrast Media Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Contrast Media Market Report Snapshots
REQUEST FOR SAMPLE
Want to customize this report?
REQUEST FREE CUSTOMIZATION
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
