Contrast Media/Contrast Agent Market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market, followed by Europe and Asia Pacific.
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The global contrast media / contrast agent market is largely governed by prominent players such as
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As per Market Industry Reports (MIR) research findings with innovative contrast media/contrast agent and rise in diagnostic centers, are set to open new growth avenues for stakeholders.
Growth prospects in the global contrast media/contrast agent market looks favorable in coming years. Increasing funding activities for research and development of the contrast agents for their applications, also rise in number of public and private diagnostic centers and rapidly growing global cancer population are expected to boost the global market.
Increasing number of approvals for contrast agents by regulatory authority provides immense growth opportunities for companies in the market. For instance, in 2017, GE healthcare’s Visipaque contrast media received U.S. FDA approval for use in coronary computed tomography angiography in adult and pediatric patients.
“Key players are aiming to building their contrast media/contrast agent portfolio to serve each market segment. Along with the inorganic growth strategies such as acquisition by the major companies is also helping in the expansion and growth of the market by expanding the geographic reach.” said Trupti, Senior Analyst, Healthcare at MIR.
MARKET ECOSYSTEM/CLASSIFICATION
BY TYPE
BY MODALITY
BY INDICATION
BY ROUTE OF ADMINISTRATION
BY APPLICATION
Side Effects, Allergic Reactions, and Adverse Effects Associated With Contrast Agents
Many patient and physician have recorded adverse effect related to contrast media/contrast agent. According to a paper published in Journal of Radiology it was observed that varied levels of residual gadolinium were accumulated in the brain. This may be toxic to patients administrated by gadolinium based contrast. Moreover, patients have suffered from itching delayed allergic reactions, anaphylactic reactions, and cutaneous reactions. Furthermore, FDA has recalled various contrast media/contrast agent products owing to their side effects and new guidelines are placed to curb these problems. These adverse effects, side effects and allergic reaction are restraining the growth of the market to a certain extent.
From a regional perspective, North America dominated the market, followed by Europe and Asia Pacific, whereas Europe is expected to grow at the fastest CAGR during the forecast period. Factors such as growing usage of diagnostic imaging modalities and increase in revenue from domestic companies in Europe in recent years are contributing to the growth of the market in these regions.
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