Gadoquatrane Market Size, Share, Growth Analysis, By Applications(Screening and Diagnosis), By End User(Hospital, Diagnostic Centres) - Industry Forecast 2024-2031

Gadoquatrane Market was valued at USD 1.84 Billion in 2022 and is poised to grow from USD 1.94 Billion in 2023 to USD 2.92 Billion by 2031, at a CAGR of 5.28% during the forecast period (2024-2031).

Currently there is only one company operating in the market. However, with the growing usage and awareness of the product, other competitors may enter the market. 'Bayer AG', 'Pfizer Inc.', 'Novartis International AG', 'Merck & Co., Inc.', 'GlaxoSmithKline plc (GSK)', 'Roche Holding AG', 'Johnson & Johnson', 'Sanofi', 'AstraZeneca plc', 'Bristol Myers Squibb', 'AbbVie Inc.', 'Eli Lilly and Company', 'Teva Pharmaceutical Industries Ltd.', 'Amgen Inc.', 'Gilead Sciences, Inc.', 'Novo Nordisk A/S', 'Takeda Pharmaceutical Company Limited', 'Biogen Inc.', 'Boehringer Ingelheim International GmbH', 'Celgene Corporation'

Gadoquatrane is a brand-new, extremely powerful mGBCA for MRI usage. The demand for MRI contrast media agents is increasing for several factors such as growing prevalence of chronic diseases, Aging population and Non-invasive diagnostic procedures. Also, technological advancements and rising healthcare expenditure are also some of the factors propelling the market demand for MRI agents. According to the report published by Investigative Radiology, Gadolinium-based contrast agents (GBCAs) have been proven to be effective and clinically useful in contrast-enhanced magnetic resonance imaging (CE-MRI) for many years. The number of treatments employing GBCAs performed globally to date has over 620 million, and the number of procedures performed annually using CE-MRI is roughly 30 million. Contrast-enhanced MRI offers significant improvements in neurological, cardiac, breast, abdominal, musculoskeletal, and vascular imaging as well as important advantages for the management of disease. The most efficient choice for MRI signal augmentation is paramagnetic gadolinium (Gd3+), which contains the greatest amount of unpaired electrons of any stable ion. In conclusion, gadoquatrane is an excellent candidate for further clinical development. Thus, the demand for MRI contrast media agents such as gadoquatrane is increasing.

Gadolinium-based contrast agents have been linked to rare but serious side effects, particularly in patients with kidney problems. As a result, there is increasing interest in the development of gadolinium-free contrast agents, such as iron oxide nanoparticles and manganese-based agents.

The North America region is anticipated to dominate the market. Imaging analysis is in demand due to the region's rising prevalence of chronic diseases like breast cancer, cardiology, and neurological conditions. Throughout the projection period, the region is anticipated to continue to dominate. Throughout the projection period, technological advancements and the rising prevalence of chronic illnesses are expected to stimulate growth.