MRI Contrast Media Agents Market Size, Share & Trends Analysis Report By Product (Paramagnetic Agents, Superparamagnetic Agents), By Application, By End-use, By Type, By Region, And Segment Forecasts, 2023 - 2030
MRI Contrast Media Agents Market Size, Share & Trends Analysis Report By Product (Paramagnetic Agents, Superparamagnetic Agents), By Application, By End-use, By Type, By Region, And Segment Forecasts, 2023 - 2030
MRI Contrast Media Agents Market Growth & Trends
The global MRI contrast media agents market size is expected to reach USD 3.42 billion by 2030, registering a CAGR of 7.15% during the forecast period, according to a new report by Grand View Research, Inc. The factors anticipated to propel the growth include the rising prevalence of chronic diseases and the rising demand for early diagnosis. It is anticipated that the increasing number of clinical trials to determine the efficacy and efficiency of MRI contrast media agents in various clinical applications will spur market expansion.
According to WHO, chronic diseases will account for three-quarters of all deaths worldwide by 2020. Prevention of chronic diseases is possible if patients are diagnosed and treated early. However, to date, only four companies, Bayer AG, GE Healthcare LLC, Guerbet GmbH, and Bracco Imaging SpA are actively involved in the manufacture of MRI contrast agents, which creates tremendous opportunities for small businesses as well as the largest organization.
The early diagnosis of chronic diseases, such as cancer, cardiac diseases, and neurological disorders, significantly increases prognosis by enabling on-time treatment. Cancer and cardiovascular diseases together result in the highest global mortality rate. This has captured the attention of various governments & healthcare organizations and is driving them to work toward creating awareness regarding these diseases.
Companies like Miltenyi Biotec B.V. & Co. Kg, Reveal Pharma, and others have developed contrast media agents and are currently in the preclinical stage. The efficacy, safety, and in vivo compatibility of contrast agent makes them critical for receiving FDA approval. Several government initiatives to develop modern healthcare centers and also provide financial support for new MRI machines are driving the growth of the MRI contrast media agents industry. However, the reduction in diagnostic scans during the COVID-19 pandemic, the halt of logistics, and the development of generic products contributed to a decline in the market in 2020 and 2021. However, it is expected to bounce back by late 2022.
MRI Contrast Media Agents Market Report Highlights
The adoption of advanced imaging technologies is augmenting the growth of the MRI and MRI contrast media agents industry
Paramagnetic agents are anticipated to be the fastest-growing segment during the forecast period due to the efficiency and wide adoption of these agents by radiologists
MRI contrast media agents for neurological imaging dominated the market in 2022, due to the growing number of neurological diseases and increased demand for less invasive diagnostic procedures
Hospital accounted for the largest share of the end-use segment in 2022, due to the treatment of chronic illnesses in the hospitals and high financial support
Clinical research accounted for the largest share based on type, in 2022
In 2022, North America dominated the global space with the largest revenue share, owing to continuous research and high adoption of advanced diagnostic techniques in the region
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Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Product
1.1.2 Type
1.1.3 Applications
1.1.4 End-use
1.1.5 Regional Scope
1.1.6 Estimates and Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Details of Primary Research
1.3.5.1 Data for primary interviews in North America
1.3.5.2 Data for Primary Interviews in Europe
1.3.5.3 Data for Primary Interviews in Europe
1.3.5.4 Data for Primary Interviews in Rest of the world
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1)
1.6.1.1 Approach 1: Commodity Flow Approach
1.6.2 Volume Price Analysis (Model 2)
1.6.2.1 Approach 2: Volume Price Analysis
1.7 List of Secondary Sources
1.8 Objectives
1.8.1 Objective 1:
1.8.2 Objective 2:
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.2.1 Product Outlook
2.2.2 Type Outlook
2.2.3 Application Outlook
2.2.4 Regional Outlook
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.2 Penetration & Growth Prospect Mapping
3.2.1 Reimbursement framework
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Rising patient population
3.3.1.2 Technological advancement
3.3.1.3 Increasing awareness regarding early diagnosis
3.3.2 Market Restraint Analysis
3.3.2.1 High cost of MRI contrast media agents
3.4 Magnetic Resonance Imaging Market Analysis Tools
3.4.1 Industry Analysis - Porter’s
3.4.1.1 Supplier Power
3.4.1.2 Buyer Power
3.4.1.3 Substitution Threat
3.4.1.4 Threat from new entrant
3.4.1.5 Competitive rivalry
3.4.2 PESTEL Analysis
3.4.2.1 Political Landscape
3.4.2.2 Technological Landscape
3.4.2.3 Economic Landscape
3.4.3 Major Deals & Strategic Alliances Analysis
3.4.4 Market Entry Strategies
Chapter 4 Type Business Analysis
4.1 Definitions and Scope
4.1.1 Paramagnetic agents
4.1.2 Superparamagnetic agents
4.2 Product Market Share Analysis
4.3 Segment Dashboard
4.4 Global Magnetic Resonance Imaging Market by Product
4.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.6 Paramagnetic agents
4.6.1 Paramagnetic Agents Market Estimates And Forecast, 2018 - 2030
4.7 Superparamagnetic agents
4.7.1 Superparamagnetic Agents Market Estimates And Forecast, 2018 - 2030
Chapter 5 Type Business Analysis
5.1 Definitions and Scope
5.1.1 Clinical
5.1.2 Preclinical
5.2 Type Market Share Analysis
5.3 Segment Dashboard
5.4 Global Magnetic Resonance Imaging Market by Type
5.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.5.1 Clinical
5.5.1.1 Clinical Market Estimates And Forecast, 2018 - 2030
5.5.2 Preclinical
5.5.2.1 Preclinical Market Estimates and Forecast, 2018 - 2030
Chapter 6 Application Business Analysis
6.1 Definitions and Scope
6.1.1 Gastrointestinal
6.1.2 Intravenous
6.1.3 Hepatobiliary
6.1.4 Neurological Imaging
6.1.5 Others
6.2 Application Market Share Analysis
6.3 Segment Dashboard
6.4 Global Magnetic Resonance Imaging Market by Application
6.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.5.1 Gastrointestinal
6.5.1.1 Gastrointestinal Market Estimates And Forecast, 2018 - 2030
6.5.2 Intravenous
6.5.2.1 Intravenous Market Estimates And Forecast, 2018 - 2030
6.5.3 Hepatobiliary
6.5.3.1 Hepatobiliary Market Estimates and Forecast, 2018 - 2030
6.5.4 Neurological Imaging
6.5.4.1 Neurological Imaging Market Estimates and Forecast, 2018 - 2030
6.5.5 Others
6.5.5.1 Others Market Estimates and Forecast, 2018 - 2030
Chapter 7 End-use Business Analysis
7.1 Definitions and Scope
7.2 Type Market Share Analysis
7.3 Segment Dashboard
7.4 Global Magnetic Resonance Imaging Market by End-use
7.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.5.1 Hospitals
7.5.1.1 Hospitals Market Estimates And Forecast, 2018 - 2030
7.5.2 Imaging centers
7.5.2.1 Imaging centers Market Estimates and Forecast, 2018 - 2030