According to a new report published by KD Market Insights, titled, “Contrast Media Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global contrast media market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The Growing occurrence of chronic illnesses, the growing demand for minimally invasive diagnostic techniques, the growing healthcare infrastructure in developing areas and the introduction of intelligence (AI) and machine learning which are the major factors augmenting the growth of the global contrast media market. The global contrast media market is anticipated to grow at a low CAGR of 3.7% from 2023 to 2032. The market's revenue surged to $5.1 billion in 2022, and it is expected to further accelerate, reaching a notable $7.3 billion by 2032.

Growing occurrence of chronic illnesses, along with most cancers and cardiovascular disorders, advancements in clinical imaging technology, are further expected to create ample growth opportunities for the global contrast media market during the forecast period i.e., 2023-2032. Moreover, the growing demand for minimally invasive diagnostic techniques offers enormous increase ability, has propelled market expansion. The growing healthcare infrastructure in developing areas, is expected to contribute towards the market growth during the period.

The North America region accounted for the largest share in the global contrast media market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the well-established healthcare infrastructure and growing investments in research activities.

According to type, the iodinated contrast media segment accounted for the largest market share in the contrast media market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.

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The global contrast media market is segmented into type, modality, route of administration, indication, application, end-users and region. Based on type, the market is bifurcated into iodinated contrast media, gadolinium-based contrast media, microbubble contrast media, barium-based contrast media. Based on modality, it is classified into X-RAY/CT, MRI, and ultrasound. Based on route of administration, it is classified into intravascular route, oral route, rectal route, other route of administration. Based on indication, it is classified into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, nephrological disorders. Based on application, it is classified into radiology, interventional radiology, interventional cardiology. Based on end-users, it is classified into hospital, clinics, & ambulatory surgery centers, diagnostic imaging centers.

The global contrast media market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

Key Insights of Contrast Media Market

·        On the basis of type, the iodinated contrast media segment accounted for the largest market share in the contrast media market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.

·        On the basis of region, North America accounted for the largest share in the global contrast media market in 2022. The region is further projected to continue dominating in the market during the forecast period.

·        On the basis of region, Europe is estimated to account for the second largest share in the market during the forecast period.

Some of the major contrast media companies profiled in the report include Bayer AG, Bracco Diagnostic Inc., GE Healthcare, Guerbet Group, Lantheus Medical Imaging Inc., Spago Nanomedical AB, FUJIFILM Corporation, Beijing Beilu Pharmaceutical Co. Ltd, and Taejoon Pharm.

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