As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global contrast media market is anticipated to rise at a CAGR of 3.4% from 2022 to 2026.
Worldwide demand for Iodinated contrast media is projected to increase at a steady CAGR over the coming years owing to increasing iodinated agent approvals; extensive use of these agents in angiography, venography, and fluoroscopy; and rising investments to create superior iodinated contrast media.
Key drivers for market growth are the rise in the frequency of trauma cases, increasing number of radiology operations utilizing this media, ageing population, and expansion of diagnostic imaging centers across regions.
To increase the diagnostic value and obtain image clearing, contrast media is employed. It aids in separating certain body parts from the surrounding tissue. By making the disease more visible, it becomes simpler for doctors to diagnose it. As a result, medical professionals require that anyone making a final pronouncement about a specific condition prescribe a radiological examination using contrast material.
For patients with chronic conditions, accidents, or autoimmune diseases, a majority of hospitals and ambulatory surgical centers perform radiological treatments with contrast media. Most individuals prefer to visit hospitals for testing to have an accurate disease diagnosis. Therefore, the industry is boosted by the high number of radiological procedures using contrast media.
The availability of nonionic stable iodinated chemicals and the strong penetration of X-ray and CT techniques for enhanced diagnosis are driving the demand. They are utilized to improve the vision of the brain, GI tract, internal organs, arteries, and veins.
Increase in the usage of contrast media in radiology to improve picture quality for tumor diagnosis due to the rising incidence of cancer globally is the main factor anticipated to fuel market expansion over the coming years. The market is anticipated to increase rapidly as a result of both, rising number of nuclear imaging operations and growing utilization of contrast media injection sets for various types of diagnosis.
Key Takeaways from Market Study
- The global contrast media market currently stands at US$ 4.9 billion.
- The market in China is forecasted to expand at a CAGR of 4.5% through 2026.
- The global market is set to reach a valuation of US$ 5.6 billion by 2026.
[Source(s): Fact.MR, GlobeNewswire]