U.S. Contrast Media Market Size, Share & Trends Analysis Report By Type (Gadolinium, Iodinated), By Application (Cardiovascular, Neurological Disorders), By Modality (MRI, X-ray/CT Scan), And Segment Forecasts, 2022 - 2030

U.S. Contrast Media Market Size, Share & Trends Analysis Report By Type (Gadolinium, Iodinated), By Application (Cardiovascular, Neurological Disorders), By Modality (MRI, X-ray/CT Scan), And Segment Forecasts, 2022 - 2030

U.S. Contrast Media Market Growth & Trends

The U.S. contrast media market is anticipated to reach USD3.36 billion by 2030, registering a CAGR of 4.12% over the forecast period, according to a new report by Grand View Research, Inc. The increasing burden of chronic diseases is creating a demand for diagnostic imaging procedures, which, in turn, is driving the market growth. Imaging tests, such as MRI, have become an integral part of the diagnosis for most diseases, and large-scale penetration of imaging technology in healthcare has increased the demand for contrast media in the U.S. market. Chronic diseases, such as cancer and diabetes, are rapidly becoming a major public health concern and are among the leading causes of death across the U.S., resulting in the need for early diagnostic tools and effective treatment options.

Hence, the increasing prevalence of complex comorbidities and long-term diseases is one of the major drivers of imaging tests and contrast agents; thus, contributing to the market growth. The COVID-19 outbreak had a negative impact on the market due to decreased patient visits to hospitals. Many radiology departments experienced a rapid decline in imaging case volume. However, many states in the U.S. have begun to reopen their economies; however, it will take time for the utilization rate of contrast media to reach pre-pandemic levels. In addition, with the launch of COVID-19 vaccines and ease in restrictions, the import and export of raw materials have resumed. This, in turn, therefore, is expected to boost the market growth over the forecast period.

U.S. Contrast Media Market Report Highlights

• Imaging tests, such as MRI, have become an integral part of the diagnosis for most diseases, and large-scale penetration of imaging technology in healthcare has increased the demand for contrast media in the U.S. market
• The iodinated type segment accounted for the largest market share in 2021 on account of excellent radio-opacity and low toxicity of iodinated contrast media than other agents
• The X-ray/CT scan modality segment held the largest revenue share in 2021. Wide acceptance and cost-efficiency of X-ray/CT modality boost the adoption of contrast agents for this modality
• The rising demand for imaging procedures has resulted in extensive R&D activities by contrast media manufacturers to launch novel products in the market and to get approved for new indications
• For instance, in 2021, Bracco got the U.S. FDA approval for 20-vial pack configuration of Lumason, which is an ultrasound contrast media agent