Contrast Media/Contrast Agents Market Analysis, Sector / Industry Report & Analysis, 2027 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Contrast Media/Contrast Agents Market


The global Contrast Media/Contrast Agents market size is projected to reach US$ 6.66 billion by 2026, from US$ 5.42 billion in 2020, at a CAGR of 3.5% during 2021-2026. This growth is attributed to the nature of this space, which exhibits an oligopolistic structure with key companies like Bayer, GE Healthcare, Guerbet, Lantheus Medical Imaging, and Bracco Diagnostics holding more than 50% of the market share. These companies target for higher share through indication extension strategies in major countries like U.S. With approvals for specific indications, companies target niche patient cohorts and boost product adoption levels.

For instance, in 2017, GE healthcares Visipaque received U.S. FDA approval for use in coronary computed tomography angiography in adult and paediatric patients. This new indication grants CVD-afflicted patients with an alternative to the non-invasive stress test and the invasive, coronary angiography for diagnosis of coronary artery disease.Inorganic growth strategies, among others, remain prevalent in this arena.

Guerbet, since it took over Mallinckrodts products, is better placed in the market. With Dotarem under its turf, Guerbet is now challenging Bayers Gadavist/Gadovist sales. This is one of the strategies used by companies to increase their market share. Entry of new firms, such as Ascelia Pharma, is expected in the latter half of the forecast period as the firm is developing manganese-based contrast media products, which is a safer alternative to gadolinium-based agents.

Apart from competitive strategies, the underlying factor supporting this market is diagnostic procedure volumes, stemming from the growing burden of chronic diseases. According to WHO, by 2020, chronic diseases will account for three-quarters of global deaths and that 71-75% of deaths will be related to heart diseases. Chronic diseases are mainly preventable and can save patients if they are diagnosed at an early stage.

Market Segmentation, Outlook & Viewpoint: Global Contrast Media/Contrast Agents Market

Type Market Segmentation & Outlook (Revenue, USD Million, 2016 - 2025)

  
Iodinated
  
Barium-based
  
Gadolinium-based
  
Microbubble

Modality Market Segmentation & Outlook (Revenue, USD Million, 2016 - 2025)

  
X-ray/CT
  
MRI
  
Ultrasound

Application Market Segmentation & Outlook (Revenue, USD Million, 2016 - 2025)

  
Cardiovascular Disorders
  
Neurological Disorders
  
Gastrointestinal Disorders
  
Cancer
  
Nephrological Disorders
  
Musculoskeletal Disorders
  
Other Applications

Key Players, Recent Developments & Regional Insights: Global Contrast Media/Contrast Agents Market

Based on applications, the market is segmented into cardiovascular, neurological, gastrointestinal, nephrological, musculoskeletal disorders, and cancer. In 2017, neurological disorders accounted for the largest share, followed by cardiovascular disorders (CVDs) and cancer.

High applicability of imaging modalities and accessibility to recently-launched products for diagnosis of cancer and neurological and cardiovascular diseases support overall revenue growth. Cardiovascular applications are expected to experience the fastest CAGR over the forecast period. On the other hand, nephrological, musculoskeletal, and neurological disorders segments are expected to witness moderate growth.

Regional Insights

North America was the largest region in terms of revenue in 2017 and is estimated to expand further over the forecast years. Strategic initiatives undertaken by key manufacturers targeting select patient subsets in the region is projected to accelerate its growth in future. The presence of well-established healthcare facilities, availability of advanced technologies together, and demand for diagnostic procedures are some of the factors responsible for the regions continued dominance.

Europe and Asia followed North America in terms of revenue in 2017, supported largely by growing usage of diagnostic imaging modalities and increase in revenue from domestic companies in Asia in recent years.

Contrast Media/Contrast Agents Market Share Insights

Some of the key companies in the market are Bayer AG, GE Healthcare; Guerbet LLC; Lantheus Medical Imaging, Inc.; Bracco Diagnostics, Inc.; Daiichi Sankyo Co. Ltd.; and Fuji Pharma Co. Ltd.In an effort to increase market presence, Guerbet acquired Mallinckrodts contrast media and delivery systems business, resulting in an expanded portfolio of better products. With this acquisition, Guerbet successfully expanded its geographic reach. Similarly, others reigning in this space employ various market strategies to maintain their dominance.

Key Insights Covered: Global Contrast Media/Contrast Agents Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Contrast Media/Contrast Agents industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Contrast Media/Contrast Agents industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Contrast Media/Contrast Agents industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Contrast Media/Contrast Agents industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Contrast Media/Contrast Agents industry.

Research Methodology: Global Contrast Media/Contrast Agents Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other