Contrast Media Agents Market Size, Trends and Growth Analysis by 2027

The worldwide market for contrast media agents is projected to grow significantly, reaching approximately US$ 6,860.6 million by 2027, up from US$ 4,855.2 million in 2018. This market is anticipated to expand at a compound annual growth rate (CAGR) of 4.0% during the period from 2019 to 2027.

Several factors are propelling the growth of the contrast media agents market, including the rising incidence of chronic diseases, advancements in diagnostic imaging technologies, an increase in the number of diagnostic procedures, and a growing number of approvals for various contrast agents. Conversely, challenges such as the potential side effects associated with these agents and the stringent regulations governing radiological imaging agents may hinder market expansion.

In a society characterized by an aging population, chronic diseases have become a predominant concern within healthcare systems. It is essential to implement technological innovations that maintain quality of life while ensuring affordability. Chronic diseases are defined as health conditions that persist for a year or longer, necessitating continuous medical care or restricting daily activities.

Conditions such as cancer, cardiovascular diseases, and musculoskeletal disorders are among the leading causes of mortality and disability, often requiring multiple imaging techniques for diagnosis and ongoing treatment assessment. The National Center for Chronic Disease Prevention and Health Promotion reports that chronic diseases account for an astounding US$3.3 trillion in annual healthcare expenditures.

The increasing prevalence of musculoskeletal disorders is a significant driver of market growth. For example, the Arthritis Foundation reported that in 2017, around 54 million adults were diagnosed with arthritis, and nearly 300,000 children were affected by arthritis or related rheumatic conditions. Osteoarthritis, the most common form of arthritis, impacts approximately 31 million Americans. Projections indicate that by 2040, over 78 million individuals will be diagnosed with arthritis by a healthcare professional.

The global market for contrast media agents is categorized based on type, imaging modality, indication, and route of administration. The type segment includes iodinated contrast media, gadolinium-based contrast media, barium-based contrast media, and microbubble contrast media. In terms of imaging modalities, the market is divided into X-Ray/CT, magnetic resonance imaging (MRI), and ultrasound. The indications for use are classified into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders. Additionally, the market is segmented by route of administration, which includes intravascular, oral, and rectal methods.

Key primary and secondary sources utilized in the analysis of the contrast media agents market include reputable organizations such as the World Health Organization, Dubai Health Authority, Canadian Cancer Society, Canadian Agency for Drugs and Technologies in Health, American Cancer Society, CBI Ministry of Foreign Affairs, Cancer Organization Soutien, Global Burden of Diseases, and Entabeni Pretoria in South Africa, among others.