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Global Contrast Media Industry

Global Contrast Media Industry

  • April 2021
  • 513 pages
  • ID: 5798259
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:
- The global market for Contrast Media is projected to reach US$5.3 billion by 2025, driven by the growing number of imaging procedures such as X-Rays, MRI, CT, and Ultrasound supported by the prevalence of chronic diseases among the growing global population and the ensuing diagnostic burden and demand for imaging services. The global burden of chronic diseases can be put into perspective by the fact that it is the leading cause of death and disability in the world. Although easily preventable, chronic diseases such as heart disease, stroke, cancer, type-2 diabetes, obesity, thyroidism, and arthritis push up healthcare costs and also demand for healthcare services. By 2030, chronic diseases will emerge to be the most costly and prevalent killer worldwide. As a result, healthcare spending is forecast to reach a mind-bending US$19 trillion by the year 2040. A major portion of this expenditure will be spent on medical imaging procedures such as X-Rays, CT scan (computed tomography scan), MRI (magnetic resonance imaging), ultrasound, and nuclear medicine imaging, including positron-emission tomography (PET), among other emerging hybrid imaging technologies. As an extremely important aspect of medical practice, imaging has and still continues to revolutionize the world of healthcare. Medical imaging helps in early detection and diagnosis of diseases at a stage when they can be easily treated and of late has been assuming even greater importance as the world healthcare migrates to the tenets of preventative care. Better diagnosis has a direct and a positive impact on therapy procedures and treatment planning. The rise of imaging based surgical strategies to safely handle complicated surgeries is also helping push up the importance of medical imaging.
- A key element of the ongoing healthcare reforms and the migration to value based care is medical imaging. Technologies such as nuclear medicine (imaging), molecular imaging, and contrast enhanced radiology procedures are benefiting significantly for the simple reason that there can be no value based care without value based imaging activities. Medical imaging remains very crucial in healthcare as it plays a decisive role in enabling low-cost effective patient care. The starting point for effective treatment is high-performance imaging and accurate diagnosis. Replacing low-value imaging with high performance imaging reduces costs and enhances effectiveness of treatment. In this regard, contrast enhanced imaging and the benefits offered are a perfect value creation. Contrast agents help in advanced visualization of biological structures; and helps capture hard-to-image anatomical regions. They help eliminate errors caused by radiologist’s perception which tends to influence interpretation of the true structure of the underlying anatomy. Oral, intravenous, rectal, and intrathecal contrast agents are indispensable today in the practice of radiology for their most primary benefit which is enhanced visibility of internal structures. Efficiency of contrast media over the years have evolved from high-osmolar contrast media (HOCM) which have limited utility and higher side-effects to low-osmolality contrast agents. The development of nonionic compounds marked a major step forward. The most recent type of contrast agent developed is the iso-osmolar contrast media (IOCM) which is composed of dimers, a molecule with two benzene rings and 3 iodine atoms. The United States and Europe represent large markets worldwide with a combined share of 66.9% of the market. China ranks as the fastest growing market with a CAGR of 5% over the analysis period supported by the remarkable progress made by the country in developing its primary health-care system. Access to and affordability of healthcare services have improved significantly over the last decade. Improving access to timely care is helping drive demand for imaging services in the country.

- Select Competitors (Total 45 Featured) -
  • AMAG Pharmaceuticals, Inc.
  • Bayer AG
  • Daiichi Sankyo Co., Ltd.
  • GE Healthcare
  • Guerbet Group
  • Starpharma Holdings Limited

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