According to a new market research report Blood Contrast Media/Contrast Agent Market is expected to reach a value of USD 5.44 Billion by 2021, from an estimated value of USD 4.46 Billion in 2016, at a CAGR of 4.1%.
Contrast Media/Contrast Agent Market by Type (Iodinated, Gadolinium, Barium, & Microbubble), Procedure (X-Ray/CT, MRI, & Ultrasound) & Application (Radiology, Interventional Radiology, & Interventional Cardiology) - Global Forecasts to 2021
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The global Contrast Media/Contrast Agents Market has been segmented on the basis of type, route of administration, indication, procedure, application, and region. Based on type, the Contrast Media/Contrast Agents Market is segmented into iodinated contrast media, gadolinium-based contrast media, barium-based contrast media, and microbubble contrast media. In 2016, the iodinated contrast media segment is estimated to account for the largest share of the Contrast Media/Contrast Agents Market, by type. However, the microbubble contrast media segment is expected to grow at the highest CAGR during the forecast period. The high growth of the microbubble segment can be attributed to the large number of on-going academic researches that are exploring various attributes of microbubbles in off-label indications for diagnosis as well as drug delivery.

Based on procedure, the Contrast Media/Contrast Agents Market is segmented into X-ray/computed tomography, magnetic resonance imaging, and ultrasound. Based on route of administration, the Contrast Media/Contrast Agents Market has been segmented into oral, injectable, rectal, and urethral routes. In 2016, the injectable segment is expected to account for the largest share of the Contrast Media/Contrast Agents Market. Growth in the injectable contrast media segment can be attributed to advancements in CT and MRI imaging technologies, which majorly use injectable contrast media.
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Based on indication, the Contrast Media/Contrast Agents Market is segmented into cardiovascular disorders, oncology, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders. In 2016, the cardiovascular disorders segment is estimated to account for the largest share of the global Contrast Media/Contrast Agents Market. Improvements in cardiac MRI procedures in cath labs, favorable reimbursement policies for contrast media used in cardiovascular diagnosis, and strong healthcare infrastructure in countries like the U.S., Canada, the U.K., and Germany are some of the factors driving the growth of this segment.
Based on procedure, the global Contrast Media/Contrast Agents Market is segmented into X-ray/CT, MRI, and ultrasound. In 2016, the X-ray/CT segment is expected to account for the largest share of the Contrast Media/Contrast Agents Market. However, the ultrasound segment is expected to register the highest CAGR during the forecast period. Development of microbubble contrast media for ultrasound, and large number of approvals for ultrasound contrast media in major markets such as the U.S., Europe, and Japan are some of the key factors driving the growth of this segment.

Based on application, the global Contrast Media/Contrast Agents Market has been segmented into radiology, interventional radiology, and interventional cardiology. In 2016, the radiology segment is estimated to account for the largest share of the Contrast Media/Contrast Agents Market. The large share of this segment can be attributed to the growing number of diagnostic procedures/centers, coupled with the increasing disease burden on countries.
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North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the regions considered for a geographic analysis of the global Contrast Media/Contrast Agents Market. In 2016, North America is estimated to account for the largest share of the market, followed by Europe and Asia-Pacific. However, the European market is expected to grow at the highest CAGR during the forecast period, and will also serve as a revenue pocket for companies offering contrast media/contrast agents in the near future.

The prominent players in the global Contrast Media/Contrast Agents Market include Bayer HealthCare (Germany), GE Healthcare (U.S.), Guerbet Group (France), and Bracco Imaging S.p.A. (Italy). These companies hold a dominant position in the Contrast Media/Contrast Agents Market mainly due to their well-established presence in the field of genomics, presence in over 50 countries, high R&D investments, and strong sales and distribution force. Other players operating in this market include Lantheus Medical Imaging (U.S.), nanoPET Pharma GmbH (Germany), CMC Contrast AB (Sweden), Daiichi Sankyo (Japan), and Subhra Pharma Private Limited (India).

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