The global market for contrast media, which are substances used in medical imaging which enhance the visibility of structures or fluids within the body, is set to rise from just over $4.3 billion in 2015 to over $6 billion by 2022, representing a compound annual growth rate of 4.9%. As shown in the figure below, the global contrast media market had revenues of $4,339M in 2015 across the 10 major markets. By the end of the forecast period in 2022, the global contrast media market will increase to approximately $6,073M, at a CAGR of 4.9%.
Contrast Media Market Outlooks
The contrast media market is old and well-established, with products being used in a wide array of indications. The growth of the contrast media market will be driven by the increasing annual number of diagnostic imaging scans and its growing utilization. The fastest-growing markets will be India, China, and Brazil with CAGRs of 9.2%, 8.6%, and 7.2%, respectively. In terms of revenue, the US, Japan, and China are expected to be the largest markets, with forecast sales in 2022 of $2.24B, $968.9M, and $779.5M, respectively. The market outlook for contrast media is strongly driven by the increasing number of annual diagnostic scans across all diagnostic imaging modalities covered in this report, which are CT, MRI, and ultrasound (echocardiography). Increased scanning is due to growth in populations, disease burdens, and contrast utilization in emerging economies such as China and India.
GlobalData’s MediPoint: Contrast Media – Global Analysis and Market Forecasts report provides analysis of the contrast media space across the 10 major markets of the US, France, Germany, Italy, Spain, UK, Japan, Brazil, China and India, including annualized market data from 2015 and forecast until 2022.
Key Questions Answered
- What is the current and future outlook of the contrast media in developed and emerging markets?
- What are unmet needs in the contrast media market? What are the clinical and non-clinical barriers in this space? What is hampering innovation within this market?
- What trends are affecting the global contrast media market?
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Published: Apr -16
Report Format: electronic pdf