The Global Iodinated Contrast Media in the Interventional X-Ray Market is projected to experience significant growth during the forecast period from 2023 to 2030. The rising incidence of cardiovascular diseases (CVD), which account for millions of deaths annually, is driving the demand for advanced diagnostic imaging techniques that utilize iodinated contrast media. The expiration of patents held by various companies will lead to increased competition from generic pharmaceutical producers, resulting in a potential decrease in prices. This price reduction will make the technology more accessible to a larger population, thereby driving market growth.
According to Data Bridge Market Research, the global iodinated contrast media in interventional x-ray market expected CAGR of iodinated contrast media in the interventional X-Ray market tends to be around 5.80% in the mentioned forecast period of 2023 to 2030. The market was valued at USD 2,497.3 million in 2022, and it would grow up to USD 3,920.63 million by 2030.
“The rise in chronic diseases facilitate market growth”
The rise in chronic diseases serves as a significant driver for the global iodinated contrast media in the interventional X-ray market. Chronic diseases such as cardiovascular disorders, cancer, and kidney diseases often require diagnostic imaging procedures to assess the extent and progression of the condition. Iodinated contrast media plays a vital role in enhancing the visibility and accuracy of these imaging techniques, enabling healthcare professionals to make more informed diagnoses and treatment decisions. As the prevalence of chronic diseases continues to increase worldwide, the demand for interventional X-ray procedures utilizing iodinated contrast media is expected to grow, driving market expansion.
What restraints the growth of global iodinated contrast media in interventional x-ray market?
“High cost of iodinated”
The high cost of iodinated contrast media serves as a significant restraint in the global interventional X-ray market. The cost of these contrast agents can be substantial, making them less accessible and affordable for certain healthcare facilities and patients. The expense associated with iodinated contrast media procurement, storage, and administration ads to the overall financial burden of healthcare providers. Moreover, high costs may discourage the adoption of interventional X-ray procedures that require contrast media, limiting their utilization and potentially hindering market growth. Efforts to reduce the cost of iodinated contrast media could help mitigate this restraint and expand their use in interventional X-ray procedures.
Segmentation: Global Iodinated Contrast Media in Interventional X-Ray Market
The iodinated contrast media in interventional X-Ray market is segmented on the basis of product and services, test type, diseases, end user, and distribution channel.
- On the basis of product and services, the iodinated contrast media in interventional X-Ray market is segmented into instruments and devices, assays and reagents and services and software.
- On the basis of test type, the iodinated contrast media in interventional X-Ray market is segmented into traditional diagnostic tests, mechanical tests, imaging tests, and molecular diagnostic tests.
- On the basis of diseases, the iodinated contrast media in interventional X-Ray market is segmented into chronic obstructive pulmonary disease (COPD), lung cancer, asthma, tuberculosis, bronchitis, pulmonary fibrosis, and other diseases.
- On the basis of end user, the iodinated contrast media in interventional X-Ray market is segmented into hospital/clinical laboratories, physician offices, reference laboratories and other end users.
- On the basis of distribution channel, the iodinated contrast media in interventional X-Ray market is segmented into (direct tender, retail sales, and other.
Regional Insights: North America dominates the Global Iodinated Contrast Media in Interventional X-Ray Market
North America is dominating the market for iodinated contrast materials in CT procedures due to several factors. Such as, there is increasing penetration of iodinated contrast materials in CT procedures, which are commonly used for enhanced visualization and diagnosis. This widespread adoption of contrast materials contributes to the dominance of the North American market.
Asia-Pacific region, holds the highest market share for iodinated contrast materials due to various factors. Such as there is high adoption of imaging techniques in the region. Medical imaging plays a crucial role in diagnosis and treatment planning, and the increasing utilization of imaging techniques leads to a higher demand for iodinated contrast materials.
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Recent Developments in Global Iodinated Contrast Media in Interventional X-Ray Market
- In 2021, GE Healthcare acquired BK Medical, expanding its ultrasound offering into surgical imaging and advancing precision health development.
- In 2021, Koninklijke Philips N.V. partnered with DiA Imaging Analysis Ltd. to integrate automated solutions with ultrasound devices, improving operational efficiency and access to care for POC clients.
- In 2019, General Electric entered into an agreement with Daiichi Sankyo Company to transfer marketing rights for four diagnostic imaging agents in Japan, bolstering its presence and business in the Japanese market.
The Prominent Key Players Operating in the Global Iodinated Contrast Media in Interventional X-Ray Market Include:
- Bayer AG (Germany)
- Iso-Tex Diagnostics, Inc. (U.S.)
- Bracco Diagnostic Inc. (Italy)
- Novalek Pharmaceuticals Pvt. Ltd. (India)
- TAEJOON PHARM (South Korea)
- Unijules Life Sciences Ltd (India)
- General Electric (U.S.)
- Guerbet (France)
- J.B.Pharma (India)
Above are the key players covered in the report, to know about more and exhaustive list of global iodinated contrast media in interventional x-ray market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Iodinated Contrast Media in Interventional X-Ray Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
