Contrast Media Market Size

Statistics for the 2023 & 2024 Contrast Media market size, created by Mordor Intelligence™ Industry Reports. Contrast Media size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Contrast Media Industry

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Contrast Media Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 5.77 Billion
Market Size (2029) USD 6.59 Billion
CAGR (2024 - 2029) 7.44 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Contrast Media Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Contrast Media Market Analysis

The Contrast Media Market size is estimated at USD 5.77 billion in 2024, and is expected to reach USD 6.59 billion by 2029, growing at a CAGR of 7.44% during the forecast period (2024-2029).

Contrast media (CM) are used in imaging techniques to enhance the differences between body tissues in images. The ideal contrast medium should achieve a very high tissue concentration without adverse effects. The factors for the growth of the contrast media market include the increasing incidences of chronic diseases and the rising demand for image-guided procedures and diagnostics. For instance, according to the British Heart Foundation Report 2024, around 7.6 million people with heart and circulatory diseases live in the United Kingdom. Hence, the high prevalence of circulatory diseases is expected to increase the diagnosis rate, ultimately driving the studied market.

Additionally, as per the 2022 update from the International Diabetic Federation (IDF), approximately 537 million adults aged 20-79 had diabetes in 2022. The total number of people with diabetes is projected to rise to 783 million by 2045. Hence, the high prevalence of diabetes is expected to drive the studied market over the forecast period.

Similarly, according to the update from the National Cancer Institute, in March 2023, around 0.3 million new breast cancer cases were registered in the United States, and the new cases of colon and rectal cancer were 0.1 million and 46 thousand, respectively. The high prevalence of chronic diseases such as cancer, which led to an increasing need for diagnostic procedures and treatment, is expected to drive the growth of the contrast media market. The rising demand for image-guided procedures and diagnostics is also leading to market growth. For instance, according to an article published in Nanomaterials in July 2023, scientists put forward many research ideas to enhance the precision of observing diseased body parts by understanding the synergistic potential of MRI in combination with contrast agents (CAs). Hence, the broad application of contrast agents in image-guided procedures is expected to drive the demand for CAs, ultimately driving the studied market over the forecast period. Hence, factors such as the increasing prevalence of chronic diseases and rising demand for image-guided procedures that use contrast agents are expected to drive the studied market over the forecast period. However, side effects and allergic reactions associated with contrast agents are expected to restrain the market.

Contrast Media Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)