Global Contrast Media/Contrast Agents Market worth $8.6 Bn By 2017

Tuesday 15 January 2013, Amsterdam

According to a new market research report “Contrast Media/Contrast Agents Market By Product (Iodinated, Gadolinium and Barium), By Technique (X-ray, CT, MRI, Cath Lab and Ultrasound) and By Application (Radiology, Interventional Radiology and Interventional Cardiology) – Global Trends and Forecast to 2017” analyzes and studies the major market drivers, restraints,  opportunities and technology trends in North America, Europe, APAC and Rest of the World.

This report studies the global contrast media / contrast agents market over the forecast period of 2012 to 2017.

Contrast media signify a vital requirement of medical imaging as these agents provide better images of body structures and organs when visualized during medical procedures like X-ray, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound and catheterization laboratory (cath lab) procedures. This market has been segmented into three product categories – barium-based, iodinated and gadolinium-based contrast media. These product segments are further bifurcated based on their routes of administration (oral, injection, rectal, and urethral), indication (cardiovascular, neurology, oncology, respiratory, nephrology, gastrointestinal, and musculoskeletal), medical procedure (X-ray, CT, MRI, ultrasound, and cath lab) and application (radiology, interventional radiology, and interventional cardiology). The global contrast media market boasts of a total value of $6.2 billion in 2012 and is expected to register a growth rate of 6.8% to reach a value of $8.6 billion by 2017.

North America accounted for the largest share, followed by Europe. This is attributed to the fact that major players are located in these regions with easy access and extensive use of contrast media in almost all radiological examinations. Europe is expected to grow at the lowest CAGR globally, mainly due to the impact of economic slowdown in this region and the probable delay in the adoption of new products and technology in the contrast media arena.

The global contrast media market, though fairly mature at present (2012), still shows potential to grow over the next five years. It is propelled by the increasing demand for diagnostic imaging and imageguided surgical procedures, technological advances in diagnostic imaging and the ever-increasing incidence rates of cancer and cardiac disorders. However, a few pivotal factors affecting the growth of this market are major economies of the world undergoing healthcare reforms, thereby affecting contrast media sales and the economic slowdown restricting the overall growth of this market.

In competitive landscape, we have studied the growth strategies adopted by the companies between 2010 and 2012. Players in this market have adopted various strategies to expand their global footprint and increase their market share. New product launch, partnerships and alliances, mergers and acquisitions, and other developments are some of the major strategies adopted by player to achieve growth.

The major players profiled in this report are GE Healthcare (U.K.), Bracco Diagnostic, Inc. (Italy), Bayer Healthcare Pharmaceuticals (Germany), Covidien (Ireland) and Guerbet Group (France).