As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global contrast media market is anticipated to rise at a CAGR of 3.4% from 2022 to 2026.
Worldwide demand for Iodinated contrast media is projected to increase at a steady CAGR over the coming years owing to increasing iodinated agent approvals; extensive use of these agents in angiography, venography, and fluoroscopy; and rising investments to create superior iodinated contrast media.
Key drivers for market growth are the rise in the frequency of trauma cases, increasing number of radiology operations utilizing contrast media, ageing population, and expansion of diagnostic imaging centers across regions.
To increase the diagnostic value and obtain image clearing, contrast media is employed. It aids in separating certain body parts from the surrounding tissue. By making the disease more visible, it becomes simpler for doctors to diagnose it. As a result, medical professionals require that anyone making a final pronouncement about a specific condition prescribe a radiological examination using contrast material.
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Key Takeaways from Market Study
- The global contrast media market currently stands at US$ 4.9 billion.
- The market in China is forecasted to expand at a CAGR of 4.5% through 2026.
- The global market for contrast media is set to reach a valuation of US$ 5.6 billion by 2026.
Competitive Landscape
Contrast media manufacturers are concentrating on developing new products and using a variety of tactics, including partnerships, license agreements, and alliances to make a mark in the industry.
For instance :
- In 2021, the initially disclosed purchase of BK Medical by GE Healthcare was completed. With this acquisition, GE Healthcare expanded the real-time surgical viewing capability of its pre- and post-operative ultrasound capabilities to include this rapidly developing and comparatively young field.
Explore Fact.MR's Coverage on the Healthcare Domain-
Contrast Media Consumables Market - Contrast media or contrast agents are used by patients who are supposed to undergo imaging test for the diagnosis of various diseases or disorders. Contrast media consumables are vastly used for different clinical diagnosis to improve the diagnostic performance of medical imaging test.
Contrast Media Injectors Market - With a Y-o-Y growth rate of 7.1%, the global contrast media injectors market is estimated at US$ 1.5 Billion in 2022, as against US$ 1.4 Billion in 2021. With the growing prevalence of cancer and rising investments, the 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.
Medical Plastics Market - Global medical plastic sales have reached US$ 22 billion in 2022 and are anticipated to increase at a CAGR of 5% through 2026. As such, the medical plastics market is expected to reach US$ 27 billion by the end of 2026.
