The Global Contrast Media Market is worth USD 4.3 Billion in 2016 and estimated to grow at a CAGR of 4.6%, to reach USD 5.38 billion by 2021
Hyderabad, India -- (SBWIRE) -- 02/15/2018 -- According to a new market research report "Contrast Media Market By Procedure (X-Ray/CT, MRI, & Ultrasound), By Type (Iodinated, Barium, & Microbubble), By Application (Radiology, Interventional Radiology, & Interventional Cardiology) - Global Forecast to 2021", published by MarketDataForecast™, the market is expected to reach USD 5.38 Billion by 2021 from USD 4.3 Billion in 2016, at a CAGR of 4.6%. Contrast medium is nothing but a distinction agent that can be a substance utilized in medical imaging to reinforce the distinction of fluids or structures within the body. These facilitate in higher imaging of anatomical structures and organs by increasing the image distinction. Hence, these are useful in diagnostic strategies such as CT scan and in some important surgeries. Growth in the Contrast Media Market will primarily be attributed to factors such as increasing variety of approvals for distinction agents and growing variety of public & non-public diagnostic centres. The increasing variety of analysis and funding activities for analysis of distinction agents and their applications are also fuelling the market.
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Based on application, the Contrast Media market is segmented into Radiology, Interventional Radiology, and Interventional Cardiology.
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The X-ray/CT segment is expected to dominate the market.
Based on the Procedure, the market is segmented into X-Ray/CT, MRI, & Ultrasound. The X-ray/CT segment accounts for the key market share. Increasing variety of CT examinations across the world, in addition to advancements in CT imaging technologies is driving this segment and thus increasing the market growth.
Iodinated Contrast Segment is estimated to command for the largest share of the market during the forecast period.
Based on the type, the market is segmented into Barium-Based Contrast Media, Iodinated Contrast Media, Gadolinium-Based Contrast Media, and Microbubble Contrast Media. Iodinated Contrast media phase is anticipated to account for the most important share of the distinction media market. The high share of this segment will be attributed owing to its high usage in CT examinations and the awareness about it will be employed in most body components.
North America is estimated to command the largest share of the market
Based on region, the Contrast Media Market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. North America is anticipated to account for the biggest share of the global contrast media market. The big share of North America within the world market is attributed to the increasing variety of diagnostic imaging units and examinations, growing aging population & rising prevalence of chronic conditions within the America, vital focus and government investments within the field of medical imaging, and increasing analysis activities in North American country.
Key players in the Contrast Media Market include CMC Contrast AB (Sweden), Daiichi Sankyo (Japan), Bayer HealthCare (Germany), GE Healthcare (U.S.), Guerbet Group (France), Bracco Imaging S.p.A. (Italy) in 2015. Lantheus Medical Imaging (U.S.), nanoPET Pharma GmbH (Germany), and Subhra Pharma Private Limited (India).
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The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter's Five Forces
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