(I-BusinessNews.Com, August 04, 2020 ) Growth in the contrast media market can primarily be attributed to factors such as the increasing prevalence of cancer & CVD, regulatory approval of a growing number of contrast agents, and the rising volume of CT & MRI examinations.
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According to research report the global contrast media market is expected to reach USD 6.0 billion by 2024 from an estimated USD 5.0 billion in 2019, growing at a CAGR of 3.8% during the forecast period.
ÂBased on modality, the market is segmented into X-ray/CT, MRI, and ultrasound procedures. In 2019, X-ray/CT procedures segment is expected to command the largest share of the global contrast media market.
ÂBased on type, the contrast media market is segmented into iodinated contrast media, gadolinium-based contrast media, barium-based contrast media, and microbubble contrast media. In 2019, the iodinated contrast media segment is estimated to account for the largest share of the contrast media industry.
GE Healthcare (US), Bayer HealthCare (Germany), Bracco Imaging (Italy), and Guerbet (France) are some of the leading players in the contrast media market. Other prominent players in the market are Lantheus (US), Unijules Life Sciences (India), Daiichi Sankyo (Japan), J.B. Chemicals and Pharmaceuticals (India), Sanochemia (Austria) Taejoon Pharm (South Korea), Jodas (India), and Magnus Health (India).
GE Healthcare (U.S.) held the first position in the global contrast media market in 2019. The firm has a strong customer base in approximately 140 countries, primarily operating in North America, Europe, the Pacific Basin, the Americas, and the Middle East & Africa. Some subsidiaries of the firm include GE Healthcare USA Holdings, Inc., GE Healthcare Ltd. (Japan), GE Healthcare Biosciences AB (U.S.), and GE Healthcare AS (Norway). GE Healthcare launched Clariscan, a macrocyclic MRI contrast agent in Europe.
Bracco Imaging was the second-largest player in the contrast media market in 2019. The company continuously strives to strengthen its market position in various geographies by focusing on receiving approvals for its contrast media products. The company invests a significant amount of its revenue in research and development to launch technologically advanced products in the market.
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Bayer HealthCare was the third-largest player in the contrast media market in 2019. The company offers a range of contrast-enhanced diagnostic imaging equipment along with contrast agents under its pharmaceuticals business segment.
Mr. Aashish Mehra
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Mr. Aashish Mehra