Contrast Agents Market Size by Segments, Share, Regulatory, Reimbursement, and Forecast to 2033
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Contrast Agents Market Report Overview
The contrast agents market size was valued at $3.57 billion in 2023. The contrast agents market will grow at a CAGR of more than 2% from 2023 to 2033. Contrast agents are used in radiology to get clearer visualizations of various medical conditions and pathologies. These agents are used with computed tomography (CT), magnetic resonance imaging (MRI), and ultrasounds, among other modalities.
Contrast Agents Market Outlook 2023-2033 ($ Billion)
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The contrast agents market research report offers insights on market behavior that will help identify market trends within diagnostic imaging therapeutic areas. The report has extensively covered regional-wise quantitative data, highlighting the number of contrast agents across labs, which will help in identifying untapped market opportunities. The contrast agents market model also discusses the detailed impact of COVID-19 on the contrast agents market for 2020 and beyond.
Market Size (2023) | $3.57 billion |
CAGR (2023-2033) | >2% |
Historic Period | 2015-2023 |
Forecast Period | 2023-2033 |
Key Segments |
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Key Regions |
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Key Companies |
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Contrast Agents Market Dynamics
Contrast agents are key for improving image quality in various CT, MRI, and ultrasound scanning procedures by clarifying hard-to-image structures within the body such as blood vessels. The market for contrast agents is driven by sales of diagnostic imaging systems such as MRI and CT scanners, which have been experiencing growth due to aging global populations and the rising prevalence of chronic diseases. The market for contrast agents is experiencing stable growth globally and high growth in emerging economies such as China and India whose health sectors are booming.
The growth of the contrast agents market will be driven by the increasing annual number of diagnostic imaging system purchases and growing contrast agent utilization, particularly in China and India. The market outlook for contrast agents is strongly driven by the increasing number of annual diagnostic systems across all diagnostic imaging modalities, especially CT. Increased scanning is due to growth in populations, disease burdens, and contrast utilization in emerging economies such as China and India.
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Contrast Agents Market Segments
The key segments in the contrast agents market are computed tomography (CT) contrast agents, magnetic resonance imaging (MRI) contrast agents, and ultrasound contrast agents (Microbubbles). In 2023, the computed tomography (CT) contrast agents segment dominated the market share. The segment will continue to dominate the market share throughout the forecast period.
Contrast Agents Market Analysis by Segments, 2023 (%)
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Contrast Agents Market Segmentation by Regions
The key regions in the contrast agents market are Asia-Pacific, Europe, the Middle East and Africa, North America, and South and Central America. In 2023, North America led the contrast agents market share and is expected to dominate the market throughout the forecast period.
The North American contrast agents market displays growth due to increased sales of MRI, ultrasounds, and CT scanners. Other factors that are helping the market grow include increased demand for contrast-enhanced imaging, rising populations of elderly patients with chronic and lifestyle-related disorders, and technological advancements. The US and Canada both have large aging populations, which not only boosts the size of the current contrast agents market but also provides strong potential for growth. The US has the largest contrast agents market, followed by Canada and Mexico.
Contrast Agents Market Analysis by Regions, 2023 (%)
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The key companies in the contrast agents market are Bayer AG, GE Healthcare, Guerbet SA, Bracco Imaging SpA, Lantheus Medical Imaging and Others. In 2023, Bracco Imaging SpA accounted for the highest contrast agents market share and value.
Contrast Agents Market Analysis by Companies, 2023 (%)
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Segments Covered in this Report.
Contrast agents Segment Outlook ($ Million, 2015-2033)
- Computed Tomography (CT) Contrast Agents
- Barium CT Contrast Agents
- Ionic Iodinated CT Contrast Agents
- Non-Ionic Iodinated CT Contrast Agents
- Magnetic Resonance Imaging (MRI) Contrast Agents
- Gadolinium-Based MRI Contrast Agents
- Macrocyclic Gadolinium-Based MRI Contrast Agents
- Ultrasound Contrast Agents (Microbubbles)
Contrast agents Regional Outlook ($ Million, 2015-2033)
- Asia-Pacific
- Europe
- Middle East and Africa
- North America
- South and Central America
Key Inclusions of the market model are:
Currently marketed Contrast agents and evolving competitive landscape:
- Insightful review of the key industry trends.
- Annualized total Contrast agents market revenue by segment and market outlooks from 2015-2033.
- Market-level data on units, average selling prices, and market values.
Global, Regional and Country level market specific insights:
- Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- SWOT analysis for the Contrast agents market.
- Competitive dynamics insights and trends provided for the Contrast agents market.
Get an in-depth understanding of consumer behavior through the market access segment and the overview of the healthcare system. The report also offers information on reimbursement policies and the regulatory landscape.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, the report helps determine market trends through real-world data sources including government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered: Bayer AG, GE Healthcare, Guerbet SA, Bracco Imaging SpA, Lantheus Medical Imaging and Others.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
This Market Model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. The model will benefit the following stakeholders:
- CMO executives who must have a deep understanding of the contrast agents marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives must understand crucial components of the supply base in order to make decisions about supplier selection and management.
Private equity investors that need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
- Understand the impact of COVID-19 on contrast agents.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving contrast agents.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the contrast agents market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in the global and country-specific contrast agents market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
Frequently asked questions
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What was the contrast agents market size in 2023?
The contrast agents market size was $3.57 billion in 2023.
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What will the CAGR of the contrast agents market be during 2023-2033?
The contrast agents will grow at a CAGR of more than 2% during 2023-2033.
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Which was the leading segment in the contrast agents market in 2023?
Computed tomography (CT) contrast agents segment was leading the contrast agents market in 2023.
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Which region held the largest share of the contrast agents market in 2023?
North America was the largest regional market for contrast agents in 2023.
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Which are the leading players in the contrast agents market?
The key companies in the contrast agents market are Bayer AG, GE Healthcare, Guerbet SA, Bracco Imaging SpA, Lantheus Medical Imaging and Others.
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