Home > Reports > Global Contrast Agents in MRI Market Demand, Report to 2026

Contrast Agents in MRI Market

Contrast Agents in MRI Market: information by Types (Barium Based, Iodinated, Gadolinium Based, Microbubble) Application (Oncology, Cardiology, Inflammations), and Region — Forecast till 2026

Published On : 03 Dec, 2019
Updated On : 19 Sep, 2022
Table of Content Download Sample

Market Snapshot

Base Year:
2017
Study Period:
2016–2026
CAGR:
4.0 %
Fastest Growing Market:
Europe
Largest Market:
North America

MRI contrast agents are used to improve the visibility of internal body structures in magnetic resonance imaging (MRI). It is widely used in compounds for contrast enhancement are gadolinium-based. Furthermore, the company spends millions of dollars on R&D to find appropriate agents. For instance, GE Healthcare and Schering AG spend approximately 10%–15% of the total MRI contrast agent’s sales revenue on its research & development. Thus, any company can increase the profit margin on the products by decreasing the cost of bringing a drug to the market.

Increasing prevalence of chronic diseases such as cardiac conditions and cancer are key factors projected to drive the demand for contrast agents for MRI market. For instance, according to the International Agency for Research on Cancer, around 18 million new cases were diagnosed with cancer in 2018. Thus, the increasing prevalence of cancer and rising mortality rate are demanding effective diagnosis through diagnostic procedures such as MRI.

Global contrast agents in MRI market size accounted for approximately USD 4,353.2 million in 2018 and are expected to grow at a CAGR of 4.0 % during the forecast period, 2019–2026.

Get more information on this report Download Sample Report

Segmental Insights

The global contrast agents for magnetic resonance imaging (MRI) market is segmented on the basis of type and application. 

Based on type, the market is segmented into barium-based contrast media, iodinated contrast media, gadolinium-based contrast media, and microbubble contrast media. Iodinated contrast media was valued at USD 1,889.4 million in 2017 and is projected to dominate the market in the coming years. Barium-based contrast media segment is expected to grow at the highest CAGR of 4.3% during the forecast period 2018–2025. Barium-based contrast media is commonly used in the diagnostic examinations of the diseases related to stomach, esophagus, small intestine, large intestine, and pharynx. For the diagnostic tests of diseases related to the gastrointestinal tract, barium-based contrast media is administered rectally by enema.

 In the basis of application, market is bifurcated into radiology, interventional radiology, and interventional cardiology. Cardiology is the fastest growing segment and is expected to reach USD 1521.2 million by 2025 at a healthy CAGR of 4.2%. This is attributed to increasing prevalence of cardiac diseases, growing incidences of sudden cardiac arrests and increasing complexity of congenital heart diseases are positively influencing the growth of the cardiology segment. For instance, according to the American Heart Association, the global number of patients suffering from cardiac diseases is expected to reach 23.6 million by 2030.

Regional Insights

Geographically, the global contrast agents in MRI Market industry is segmented into four North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).

North America is expected to hold major share for global contrast agents in MRI Market growth.

Contrast Agents in MRI Market Regional Analysis

Regional Growth Insights Request Sample Pages

High prevalence of cardiac diseases in this region is propelling the growth of market. For instance, additionally, according to the Sudden Cardiac Arrest Foundation in 2018, more than 356,000 people experienced sudden cardiac arrest in the U.S. Effective diagnosis of chronic diseases is feasible using contrast agent in MRI diagnostic procedures. Increasing research & development in this region is boosting the growth of market. In February 2016, the U.S. Food and Drug Administration approved first barium-based contrast agent by Bracco Diagnostics to be used for diagnostic tests. Furthermore, high presence of geriatric patient suffering from various chronic diseases is boosting the growth of market.

Europe is expected to second leading region for global contrast agents in MRI Market. Various company entered in collaboration and acquisition of leading players for innovation of product is propelling the growth of market. For instance, in 2018, Guerbet LLC acquired Accurate Medical Therapeutics, an innovative company that develops micro catheters for interventional radiology. Increasing research & development of new product is support the growth of market. For instance,   additionally, in 2017, the company launched Vectorio an innovative medical device for Interventional Imaging. Furthermore, high prevalence of chronic diseases in this region is propelling the growth of market. For instance, according to the Macmillan Cancer Support, around 198 rare types of cancers have an incidence rate of six in one million people in the U.K

Key Players

List of key contrast agents in MRI market manufacturer profiled

  • Unijules Life Sciences Ltd (India)
  • Spago Nanomedical AB (Sweden)
  • Lantheus Medical Imaging Inc (U.S.)
  • B. Chemicals and Pharmaceuticals Limited (India)
  • Guerbet LLC (France)
  • GE Healthcare (U.S.)
  • Daiichi Sankyo Company Limited (Japan)
  • Bracco Imaging S.p.A (Italy)
  • Bayer Healthcare AG (Germany)
  • Jodas Expoim (India)
  • Magnus Health (India)

Our Report Covers

  • Historical inferences, findings & analysis of the market from 2016 to 2018
  • Projections and performance forecast analysis for the future from 2019 to 2026
  • Production and consumption point of view (POV) analysis
  • Market drivers, restraint and opportunity analysis, to define market dynamics covering industry, regulatory, innovation, technological & pricing trends
  • Comprehensive competitive landscape mapping with recent development covering market leadership, competency, sustainability, and prospects

Global Contrast Agents in MRI Market: Segmentation

By Type

  • Barium Based
  • Iodinated
  • Gadolinium Based
  • Microbubble
  • Surgical Centers
  • Others

By Application

  • Oncology
  • Cardiology
  • Neurology
  • Inflammations
  • Others

By Regions

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

LAMEA

  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Frequently Asked Questions (FAQs)

The global market share accounted for approximately USD 4,353.2 million in 2018 and is expected to grow at a CAGR of 4.0 % during the forecast period, 2019–2026.
Barium-based contrast media segment is expected to be the leading segment in the Market during the forecast period.
In 2018 Global Market was valued at USD 4,353.2 million.
Unijules Life Sciences Ltd., Spago Nanomedical AB, Lantheus Medical Imaging, Inc., J.B. Chemicals and Pharmaceuticals Limited, Guerbet LLC are the top players in the Market.
North America is expected to hold the highest market share in the Market.
Report Metric Details
Market Size USD in Billion By 2030
CAGR CAGR 4%
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Types (Barium Based, Iodinated, Gadolinium Based, Microbubble) Application (Oncology, Cardiology, Neurology, Inflammations)
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Unijules Life Sciences Ltd.(India), Spago Nanomedical AB(Sweden), Lantheus Medical Imaging, Inc.(U.S.) , J.B. Chemicals and Pharmaceuticals Limited(India), Guerbet LLC(France), GE Healthcare(U.S.), Daiichi Sankyo Company, Limited(Japan), Bracco Imaging S.p.A.( Italy), Bayer Healthcare AG(Germany), Jodas Expoim(India), Magnus Health(India).
Key Market Opportunities High Demand In Pharmaceuticals Sector Is Pushing Contrast Agents In Mri Market
Price Starts From
$4250

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers