NEW YORK, Nov. 30, 2017 /PRNewswire/ —
Contrast media/contrast agents market is projected to grow at a CAGR of 3.9%.
The global contrast media market is projected to reach USD 5.53 billion by 2022 from an estimated USD 4.57 billion in 2017, growing at a CAGR of 3.9% during the forecast period. The contrast media market has witnessed various advancements in products and their approvals to meet the needs of patients and radiologists worldwide. Growth in the market can primarily be attributed to factors such as increasing number of approvals for contrast agents and growing number of public & private diagnostic centers. The increasing number of research and funding activities for research of contrast agents and their applications provides immense opportunities for players in the contrast media market.
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The X-ray/CT procedures segment to hold the largest share of the market in 2017.
On the basis of modality, the market is segmented into X-ray/CT, MRI, and ultrasound procedures. In 2017, X-ray/CT procedures segment is expected to command the largest share of the global contrast media market. The large share of this segment can be attributed to the increasing number of CT examinations across the globe, coupled with advancements in CT imaging technologies
The cardiovascular disorders segment is projected to grow at the highest CAGR during the forecast period.
On the basis of indication, the market is categorized into cardiovascular disorders, cancer, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders. The cardiovascular disorders segment is expected to grow at the highest CAGR during the forecast period. Improvements in cardiac MRI procedures in cath labs, favorable reimbursement policies for contrast media used in cardiovascular diagnosis, and strong healthcare infrastructure in developed countries are some of the factors driving this segment
Asia Pacific to witness the highest growth during the forecast period.
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2017–2022. Factors such as increasing R&D investments and favorable demographic scenario in China, rising aging population and cancer incidence in Japan, growing investments in the Indian radiology market, and growing focus of market players & increasing government support in other APAC countries are driving the growth of the market in this region.
Break of primary participants was as mentioned below:
By Company Type: Tier I: 55%, Tier II: 25%, Tier III: 20%
By Designation: C-Level Executives: 43%, Directors: 32%, Others: 25%
By Region: North America: