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Global Contrast Agents Market Forecast, 2019-2025 - Adverse Reimbursement Scenario & High Cost of Imaging Modalities in Emerging Countries May Hamper Growth
DUBLIN, Nov. 28, 2019 /PRNewswire/ -- The "Contrast Agents Market By Product Type (Iodinated, Barium-based, Gadolinium-based, Microbubble-based, and Others), By Modality Type (X-Ray/Computed Tomography, Magnetic Resonance Imaging, and Ultrasound), By Region - Global Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
This report predicts that the Global Contrast Agents Market will grow at a CAGR of ~4% during the forecast period 2019-2025.
The market has witnessed steady growth in the past few years and is sustaining due to rising demand for diagnostic and interventional radiology procedures and increase in incidence and prevalence of disease conditions are drivers of the market.
Expansion in indications of contrast media market and the growth of medical imaging technologies in emerging markets are providing opportunities for the growth of the contrast agents market. However, side effects associated with contrast agents and stringent regulations for contrast agents are factors hampering the market growth.
The majority of the revenue is generated from the leading players in the market with dominating sales from Taejoon Pharm Co., Ltd., GE Healthcare, Bayer, Fujifilm Holdings Corporation, Bracco Group, and Beijing Beilu Pharmaceutical Co., Ltd.
According to the analysis, North America accounted for the largest share of the global contrast agents market in 2018. The Asia Pacific region is expected to witness the fastest growth rate due to large patient pool and rising healthcare expenditure.
By Product Type
Iodinated contrast agent is the major shareholder in the contrast agents market in 2018.
X-ray holds major share in the contrast agents market in 2018. Due to the growing investment and developments in the ultrasound contrast agent industry, the demand for ultrasound contrast agents is expected to grow at a rapid rate during the forecast period.
- North America
North America was dominant in the global contrast agents market in 2018. The significant share of the North American region comes from the US, owing to the accessibility to good quality healthcare and good reimbursement facilities.
GE, Guerbet, and Bayer have been the major players in the market due to their top selling products and has secured major share in the market. Bayer has Gadavist/Gadovist, the major MRI contrast agent, a macrocyclic gadolinium agent to its benefit.
Guerbet claims to own second position in the MRI contrast agents market, fourth position in CT & Cath lab imaging contrast media and third position in the contrast media injection medical devices and services globally. A portion of its range of offers, GE competes with Omnipaque and Visipaque. The three players own nearly half of the market share.
- Taejoon Pharm Co. Ltd.
- GE Healthcare
- Bayer AG
- Fujifilm Holdings Corporation
- Bracco Group
- Beijing Beilu Pharmaceutical Co. Ltd.
Key Competitive Facts
- Strict government regulations and high cost of products hinders the entry of new players and many players have commandable share in the market.
- Adverse reimbursement scenario and high cost of imaging modalities in emerging countries may hamper the market growth.
- Understanding the potential market opportunity with precise market size and forecast data.
- A detailed market analysis focusing on the growth of the contrast agents industry.
- Factors influencing the growth of the contrast agents market.
- In-depth competitive analysis of dominant and pure-play vendors.
- Prediction analysis of the contrast agents market in both developed and developing regions.
- Key insights related to major segments of the contrast agents market.
- Latest market trend analysis impacting the buying behavior of the consumers.
- Rising Demand for Diagnostic & Interventional Radiology Procedures
- Increase in Incidence & Prevalence of Disease Conditions
- Side Effect Associated with Contrast Agents
- Stringent Regulations for Contrast Agents
- Expansion in Indications of Contrast Media Market
- The Growth of Medical Imaging Technologies in Emerging Markets
For more information about this report visit https://www.researchandmarkets.com/r/v84kpv
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SOURCE Research and Markets