MRI Contrast Media Market
Global MRI Contrast Agent Market Size, Share & Trends Analysis Report by Product Type (Iodinated, Gadolinium, Barium, and Microbubble) and by Indication (Cardiovascular, Neurological, Oncology, Gastrointestinal and others) Forecast 2022-2028 Update Available - Forecast 2024-2030
The global MRI contrast agent market is anticipated to grow at a significant CAGR of 4.2% during the forecast period. The increased number of MRI examinations performed for the diagnosis of various ailments around the world, as well as developments in diagnostic technology, are projected to drive the growth of this market in the future years. The market's expansion can also be linked to global factors such as an aging population and a rising middle-class population in emerging economies. Furthermore, with the increased prevalence of cancer cases in both developing and developed countries around the globe, it has become critical to provide diagnostic procedures that aid patients in receiving a diagnosis at an earlier stage. All these factors are anticipated to grow the MRI contrast agent market. For instance, in 2020, Bracco Imaging SpA has gained FDA approval for their MRI contrast agent ProHance, which is intended for use in neonates and young patients under the age of two.
Impact of COVID-19 Pandemic on Global MRI Contrast Agent Market
Healthcare institutes and providers were also ordered to stop performing elective surgical operations and medical evaluations to avoid the spread of the disease and conserve healthcare resources for covid -19 patients. The Covid-19 pandemic affected the market for MRI contrast agents owning to the infection panic results in reduced patient traffic to hospitals and diagnostic centers for regular check-ups. The market was impacted by a decrease in patient volume.
Segmental Outlook
The global MRI contrast agent market is segmented based on the product type and indication. Based on the product type, the market is segmented into iodinated, gadolinium, barium, and microbubble. Based on the indication, the market is sub-segmented into cardiovascular, neurological, oncology, gastrointestinal, and others. Among these, the market for contrast agents is dominated by product type. The expanding number of angioplasty operations conducted around the world accounts for a substantial proportion of this market.
Global MRI Contrast Agent Market Share by Indication, 2021 (%)
The Cardiovascular Segment is Anticipated to Hold a Prominent Share in the Global MRI Contrast Agent Market
The growing geriatric population and the rising prevalence of cardiovascular illness around the globe account for a substantial part of this market. However, Due to the patent expiration of branded contrast media products, competition in the contrast media market is projected to heat up significantly in the next years. This will allow generic analogs, which are less expensive than commercially available branded agents, to enter the cardiovascular segment market. APIs are created locally in underdeveloped nations, which lowers the overall cost of creating contrast agents. As a result, the patent expiration of a number of branded pharmaceuticals, as well as lower production costs for contrast agents, are likely to present profitable prospects for generic players in the cardiovascular segment. For instance, in 2021, Extracellular fluid (ECF) agents accounted for about three-quarters of the market for magnetic resonance imaging contrast agents. Due to their brief vascular phase, quick distribution in the extracellular space, and faster elimination through renal systems than other contrast agents, this can be ascribed to the availability of more patient-compliant products and improved clinical outcomes.
Regional Outlooks
The global MRI contrast agent market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). , The market in Europe is anticipated to grow throughout the forecast period, since there is a growing demand for improved diagnosis methods to detect various illness signs such as neurological disorders, cancer, cardiovascular diseases, and others.
Global MRI Contrast Agent Market Growth, by Region 2022-2028
The Asia-Pacific Region is estimated to Hold the Major Share in the Global MRI Contrast Agent Market
Owing to the increasing need for enhanced diagnosis methods to detect various illness indicators such as neurological disorders, cancer, cardiovascular diseases, and others, the market in the Asia Pacific is expected to develop at the fastest CAGR throughout the forecast period. For instance, In November 2021, GE Healthcare launched a new 3.0T magnetic resonance imaging (MRI) system with better image quality, enhanced workflows, increased productivity, improved patient comfort, and greater sustainability, SIGNA Hero aims to make challenging exams simpler, turning “difficult” to “routine.” The system helps to accommodate more patients of all shapes and sizes, offering a 70 cm bore and detachable table for enhanced patient comfort.
Market Players Outlook
The major companies serving the global MRI contrast agent market include Bayer AG, Bracco Imaging S.p.A, GE Healthcare, iMax Diagnostic Imaging Ltd., Nano Therapeutics Pvt. Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 20219, Bracco Imaging announced the acquisition of Blue Earth Diagnostics to expand its precision medicine and personalized diagnostics product portfolios.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global MRI contrast agent market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
- Current Industry Analysis and Growth Potential Outlook
- Impact of COVID-19 on The Global MRI Contrast Agent Market
- Recovery Scenario of Global MRI Contrast Agent Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Bayer AG
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Bracco Imaging S.p.A
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. GE Healthcare
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. iMax Diagnostic Imaging Ltd.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Nano Therapeutics Pvt. Ltd.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global MRI Contrast Agent Market by Product Type
4.1.1. Iodinated
4.1.2. Gadolinium
4.1.3. Barium
4.1.4. Microbubble
4.2. Global MRI Contrast Agent Market by Indication
4.2.1. Cardiovascular
4.2.2. Neurological
4.2.3. Oncology
4.2.4. Gastrointestinal
4.2.5. Others
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Acro Lifesciences Pvt. Ltd.
6.2. Beijing Beilu Pharmaceutical Co., Ltd.
6.3. Guerbet
6.4. J. B. Chemicals and Pharmaceuticals Ltd.
6.5. Jodas Expoim
6.6. Kiran X-ray Pvt. Ltd.
6.7. Lantheus Medical Imaging, Inc.
6.8. Livealth Biopharma Pvt. Ltd.
6.9. Rege Imaging & Cine Film Pvt. Ltd.
6.10. SANOCHEMIA Pharamazeutica GmbH
6.11. Subhra Pharma Pvt. Ltd.
6.12. Trivitron Healthcare Pvt. Ltd.
6.13. Unijules Life Sciences Ltd.
6.14. Unispire Biopharma Pvt. Ltd.
1. GLOBAL MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
2. GLOBAL IODINATED MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL GADOLINIUM MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL BARIUM MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL MICROBUBBLE MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY INDICATION, 2021-2028 ($ MILLION)
7. GLOBAL CARDIOVASCULAR MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL NEUROLOGICAL MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL ONCOLGY MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL GASTROINTESTINAL MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL OTHERS MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY INDICATION, 2021-2028 ($ MILLION)
16. EUROPEAN MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. EUROPEAN MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
18. EUROPEAN MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY INDICATION, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY INDICATION, 2021-2028 ($ MILLION)
22. REST OF THE WORLD MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. REST OF THE WORLD MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
24. REST OF THE WORLD MRI CONTRAST AGENT MARKET RESEARCH AND ANALYSIS BY INDICATION, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL MRI CONTRAST AGENT MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL MRI CONTRAST AGENT MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL MRI CONTRAST AGENT MARKET, 2021-2028 (%)
4. GLOBAL MRI CONTRAST AGENT MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
5. GLOBAL IODINATED MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL GADOLINIUM MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL BARIUM MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL MICROBUBBLE MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL MRI CONTRAST AGENT MARKET SHARE BY INDICATION, 2021 VS 2028 (%)
10. GLOBAL CARDIOVASCULAR MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL NEUROLOGICAL MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL ONCOLOGY MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL GASTROINTESTINAL MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL OTHERS MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL MRI CONTRAST AGENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. US MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
17. CANADA MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
18. UK MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
19. FRANCE MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
20. GERMANY MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
22. SPAIN MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF EUROPE MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
24. INDIA MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
25. CHINA MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
26. JAPAN MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
27. SOUTH KOREA MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF ASIA-PACIFIC MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD MRI CONTRAST AGENT MARKET SIZE, 2021-2028 ($ MILLION)
