The market is projected to reach USD 10.53 billion by 2021, and is growing at a CAGR of 7.4% during the forecast period from 2016 to 2021. Contrast media are chemical substances, which enhance and improve the visibility of blood vessels and gastrointestinal tract.
Contrast media used in medical imaging are classified on the basis of imaging modalities. The two most commonly used contrast media are iodine-containing contrast medium and gadolinium contrast medium. The color of structures in the body changes when images are captured with contrast media in the body. The soft tissues are seen as dark grey, while the bones look light grey. The contrast media improves the contrast between different parts of the body and helps to categorize between different parts of the body that have similar compositions.
The Global Contrast Media Market is segregated on the basis of Imaging Techniques (Computed Tomography, Magnetic Resonance Imaging, Ultrasound, X-Ray), Type of Media (Iodinated Contrast Media, Ionic Iodinated Contrast Media Lymphatic Staining Agents, Non-Iodinated Contrast Media, Non-Ionic Iodinated Contrast Media), Route of Administration (Rectal, Oral, Urethral, Injectable), and Application (Cardiology, Neurology, Radiology). The report is also segmented on the basis of geography into North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Italy, Spain), Asia-Pacific (India, China, Japan, Australia), and the Rest of the World. The U.S. is considered to be the largest market for contrast media due to the increase in the number of diagnostic procedures owing to the rise in the incidences of cancer.
Growing research and development activities in the field of imaging modalities, rise in the number of aging population, demand for image-guided techniques, and increase in the incidences of chronic diseases are some of the reasons that are augmenting the contrast media market growth.
However, the risk of side effects, adverse reactions of contrast media on the body, and reimbursement issues are some of the reasons hindering the growth of this market.
The major players in this market are GE Healthcare, Covidien, Guerbet, Amag Pharma, Bayer, Nanoscan Imaging, Targeson, Daiichi Pharma, and Star Pharma among others.
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