Contrast Media Market Size, Share & Trends Analysis Report By Modality (MRI, X-ray/CT, Ultrasound), By Product Type (Iodinated, Gadolinium-based), By Application (Cardiovascular Disorders), By Region, And Segment Forecasts, 2022 - 2030

Contrast Media Market Growth & Trends

The global contrast media market size is anticipated to reach USD 7.57 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.33% from 2022 to 2030. The rising prevalence of chronic diseases is fueling the demand for diagnostic imaging treatments, which is propelling the market forward. Imaging studies, such as MRI, have become an important aspect of most disease diagnoses, and the widespread use of imaging technologies in healthcare has boosted the demand for contrast media globally.

Chronic diseases like cancer and diabetes are quickly becoming a major public health concern and are among the leading causes of mortality worldwide, necessitating the development of early detection techniques and effective treatment alternatives. As a result, one of the key drivers of imaging tests and contrast agents is the rising prevalence of complicated comorbidities and long-term disorders, thus boosting the market worldwide.

Due to fewer patient visits to hospitals, the COVID-19 pandemic had a detrimental influence on the global contrast media market. The number of imaging cases in several radiology departments dropped dramatically. Many countries worldwide have begun to rebuild their economy, but it will take time for contrast media utilization rates to return to pre-pandemic levels. Furthermore, with the launch of COVID-19 vaccines and the relaxation of restrictions, raw material imports and exports have begun, indicating that the market will develop at a high rate throughout the projection period.

Contrast Media Market Report Highlights

• On the basis of modality, the X-ray/Computed Tomography segment held the largest market share in 2021, accounting for 69.53%. Wide acceptance and cost-efficiency of the X-ray/CT modality boost the adoption of contrast agents used for this modality
• Based on type, the iodinated contrast media segment held the largest market share in 2021, accounting for 66.61%. This is due to their excellent radio-opacity and low toxicity than other agents
• Based on application, the neurological disorders segment dominated the market and held the largest revenue share of nearly 29.45%. Diagnostic evaluation of CNS for neurological disorders boosts the adoption of MRI contrast agents, as they provide better images of neural structures than CT