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(Medical-NewsWire.com, November 06, 2019 ) The major factors driving the growth of the contrast media/contrast agents market include increasing number of research and funding activities for research of contrast agents and their applications.
According to research report the global contrast media market is expected to reach USD 5.53 billion by 2022 from an estimated USD 4.57 billion in 2017, growing at a CAGR of 3.9% during the forecast period.
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• By type, the iodinated contrast media segment is expected to account for the largest share of the market in 2017
• By modality, the X-ray/CT segment is expected to account for the largest share of the contrast media market in 2017
• North America to dominate the market in 2017
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the regions considered for a geographic analysis of the global contrast media/contrast agents’ market. North American contrast media/contrast agents’ market is expected to account for the largest share of the global contrast media/contrast agents’ market.
GE Healthcare held the first position in the global contrast media market in 2017. The firm has a strong customer base in approximately 175 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 (US), and GE Healthcare AS (Norway). GE Healthcare received the Norwegian Medicines Agency's (NOMA) approval for SONAZOID, a contrast agent used in ultrasound imaging of focal liver lesions. However, with competition in the market and the entry of new companies, it is necessary for GE to innovate continuously in order to keep its technology at the forefront and maintain its position in the market. The company’s robust product portfolio, large number of subsidiaries, focus on customers, and new product launches have also helped expand its share in the market.
Contrast media market developments (regulatory and product approvals); agreements, collaborations, contracts, and partnerships; expansions; mergers and acquisitions; and other strategies (divestments, grants, and website launches) were some of the strategies adopted by players from 2014 and 2017. The key players that adopted these strategies include GE Healthcare (US), Bracco Imaging (Italy), Bayer HealthCare (Germany), and Guerbet (France).
Some of the other contrast media market players competing in this market are Lantheus (US), Daiichi Sankyo (Japan), Unijules Life Sciences (India), J.B. Chemicals and Pharmaceuticals (India), Spago Nanomedicine (Sweden), Taejoon Pharm (South Korea), Jodas (India), and Magnus Health (India).
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Target Audience:
• Contrast Media Manufacturers and Distributors
• Companies Manufacturing X-ray, CT, MRI, Ultrasound, and Cath Lab Equipment
• Niche Companies Manufacturing Novel Contrast Agents
• Healthcare Institutions (Hospitals, Academic Medical Centres, and Outpatient Clinics)
• Radiology Canters
• Medical Imaging & Nuclear Medicine Consultants
• Health Insurance Players
• Research and Consulting Firms
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Mr. Shelly Singh
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