Albany, NY -- (SBWIRE) -- 06/08/2018 -- According to the key insight from the latest market report published on the Market Research Hub (MRH) online research repository, the demand for contrast media in the healthcare industry is quite substantial. In addition to this, analysts have found that the global contrast media market is growing at a rapid pace, driven by increasing cases of cancer and cardiovascular diseases. To elaborate further on this market, the study titled "Contrast Media Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" has been crafted using primary and secondary research. This is a 191-page report, which analyzes the current and future prospects of the global contrast media market. Also, the report comprises an elaborate executive summary, including a market snapshot that provides overall information on various segments.
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The prime motive of the study is to offer recent updates about the market together with the market estimates, in terms of revenue (USD million) during the forecast period from 2018-2026. According to the study key findings, the global contrast media market was valued at US$ 4,600 Mn in 2017 and is projected to expand at a CAGR of 4% from 2018 to 2026 to reach over US$ 6,500 Mn by 2026. The above findings have been presented using a detailed qualitative analysis of factors responsible for driving and restraining the market and future opportunities for the market and the key players.
Factors Fueling Market Growth
Contrast media are basically the substances used to enhance the contrast of fluids and structures of the body during medical imaging. These are helpful for doctors to get a clear picture of the disease or infections to decide on the treatment. The analysts have identifies so many factors that are prompting the market growth of contrast media. In the present time, increasing technological advancements in contrast agents, rising number of installed base of CTs and MRIs, and rise in prevalence of chronic disease across the globe are the prime factors behind the market growth.
The report suggests that rise in awareness among people about pre-diagnosis of diseases such as cancer and cardiovascular is predictable to drive the global market during the forecast period. Further, the study analyses market scope around the world by focusing on some key regions, such as North America, Europe, Latin America, APAC and Middle East and Africa. As per the research, North America and Europe are anticipated to dominate the global contrast media market in the coming years.
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Moreover, the global contrast media market has been segmented based on type, route of administration, imaging modality, application. In terms of type, the market has been classified into barium sulfate-based compounds, iodine-based compounds, gadolinium-based compounds and microbubbles/microspheres. Based on imaging modality, the global contrast media market has been separated into CT/X-ray, ultrasound, MRI, and others. Amongst, the CT/X-ray segment held the largest share of the global market due to surge in installation of CT scanners globally. Major applications are oncology, cardiology, neurology, and others.
As the report completes, readers are offered information about the competitive landscape, which details about the numerous players active in the market. GE Healthcare, Lantheus Medical Imaging, Inc., Nanopet Pharma GmbH, Bayer AG, Guerbet Group, Bracco Diagnostic, Inc., Subhra Pharma Private Limited, and Spago Nanomedical AB are the prime companies mentioned in the study.
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