Contrast Media Market Size (2024 - 2029)

Contrast Media Market Analysis

The Contrast Media Market size is estimated at USD 5.77 billion in 2024, and is expected to reach USD 6.59 billion by 2029, growing at a CAGR of 7.44% during the forecast period (2024-2029).

Contrast media (CM) are used in imaging techniques to enhance the differences between body tissues in images. The ideal contrast medium should achieve a very high tissue concentration without adverse effects. The factors for the growth of the contrast media market include the increasing incidences of chronic diseases and the rising demand for image-guided procedures and diagnostics. For instance, according to the British Heart Foundation Report 2024, around 7.6 million people with heart and circulatory diseases live in the United Kingdom. Hence, the high prevalence of circulatory diseases is expected to increase the diagnosis rate, ultimately driving the studied market.

Additionally, as per the 2022 update from the International Diabetic Federation (IDF), approximately 537 million adults aged 20-79 had diabetes in 2022. The total number of people with diabetes is projected to rise to 783 million by 2045. Hence, the high prevalence of diabetes is expected to drive the studied market over the forecast period.

Similarly, according to the update from the National Cancer Institute, in March 2023, around 0.3 million new breast cancer cases were registered in the United States, and the new cases of colon and rectal cancer were 0.1 million and 46 thousand, respectively. The high prevalence of chronic diseases such as cancer, which led to an increasing need for diagnostic procedures and treatment, is expected to drive the growth of the contrast media market. The rising demand for image-guided procedures and diagnostics is also leading to market growth. For instance, according to an article published in Nanomaterials in July 2023, scientists put forward many research ideas to enhance the precision of observing diseased body parts by understanding the synergistic potential of MRI in combination with contrast agents (CAs). Hence, the broad application of contrast agents in image-guided procedures is expected to drive the demand for CAs, ultimately driving the studied market over the forecast period. Hence, factors such as the increasing prevalence of chronic diseases and rising demand for image-guided procedures that use contrast agents are expected to drive the studied market over the forecast period. However, side effects and allergic reactions associated with contrast agents are expected to restrain the market.

Contrast Media Industry Segmentation

As per the scope of the report, contrast media is a substance used to enhance the contrast of an image and, thus, make the image more detailed and precise. Contrast media is increasingly used in various medical imaging techniques, such as MRI and CT. The contrast media market is segmented by type, procedure, indication, and geography. By type, the market is segmented into iodinated contrast media, gadolinium-based contrast media, microbubble contrast media, and barium-based contrast media. By procedure, the market is segmented into X-ray/computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound. By indication, the market is segmented into cardiovascular disease, oncology, gastrointestinal disorders, neurological disorders, and other indications. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values (in USD) for the above segments.