The Rising prevalence of chronic diseases, growing approvals of contrast agents, growing number of diagnostic centers and hospitals, rising volume of CT and MRI examinations performed and availability of reimbursement are the major factors driving the growth of the contrast agents market.
According to the new market research report Contrast Media Market is projected to $5.9 billion by 2026, at a CAGR of 3.7% during the forecast period.
North America was the largest regional market in 2020. The contrast media market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa (MEA). The large share of the North American market can be attributed to presence of major players in the region, high prevalence of chronic disorders, growing geriatric population, and the increasing adoption of minimally invasive procedures.
Based on type, the contrast media market is segmented into iodinated contrast media, microbubble contrast media, gadolinium-based contrast media and barum-based contrast media. Iodinated contrast media account for the largest share of the market. The large share of this segment can be attributed to the growing number of angioplasty procedures performed globally.
The global contrast media market is consolidated. The prominent players operating in this market include GE Healthcare (US), Guerbet (France), Bracco Imaging SPA (Italy), Bayer AG (Germany), J.B. Chemicals and Pharmaceuticals Ltd. (India), Lantheus Medical Imaging, Inc. (US), Unijules Life Sciences Ltd. (India), and SANOCHEMIA Pharmazeutika GmbH (Austria).
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