Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market – Industry Trends and Forecast to 2030

Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market, By Route of Administration (Intravenous, Oral, Rectal, Others), Indication (Cardiology, Neurology, General Surgery, Oncology, Urology), Agent Type (Non-Ionic, Ionic), End User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories and Other End Users), Distribution Channel (Direct Tender, Retail Sales and Other) – Industry Trends and Forecast to 2030.

Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market Analysis and Size

The iodinated contrast media in interventional X-Ray market is expected to witness huge growth during the forecast period 2023-2030. On account of total deaths from all causes, CVD in the Asia–Pacific region varies from less than 20% in countries such as Philippines, Thailand, and Indonesia to 20–30% in urban China, Japan, Hong Kong, Korea and Malaysia. In upcoming years, the patents issued by several companies will expire, opening the gates for generic pharmaceutical producers, decreasing the price of this technology, and more and more people can access the advantages provided by this technology.

Data Bridge Market Research analyses a growth rate in the iodinated contrast media in interventional X-Ray market in the forecast period 2023-2030. The expected CAGR of iodinated contrast media in interventional X-Ray market is tend to be around 7.30% in the mentioned forecast period. The market was valued at USD 518.24 million in 2022, and it would grow upto USD 910.60 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market Scope and Segmentation

Market Definition

Iodinated contrast media in interventional X-ray is important for healthcare practitioners make appropriate clinical and diagnostic decisions across numerous levels of health care services. Iodinated contrast media are the type of contrast agents containing iodine atoms widely used for x-ray-based imaging modalities such as computed tomography. They can also used in angiography, fluoroscopy and venography, and even rarely, plain radiography. Gadolinium contrast agents are used for MRI studies.

Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market Dynamics

Drivers

• Rise in Chronic Diseases

The occurrence of chronic conditions with multiple comorbidities is higher among the elderly adults Our results show substantial variation in CKD prevalence (7.0%–34.3%) across Asia. Demographic changes, such as population growth and rising average age, have contributed to the major increase of non-communicable diseases and injuries. Health loss from ischemic heart disease, or coronary artery disease, increased by 76%, lung cancer by 86%, and diabetes by 76% between 1990 and 2010. The risk factors underlying the disease are urbanization, sedentary lifestyle, globalization, obesity and hypertension. Thus, this factor will boost the market growth.

• Increasing Rate of Complex Comorbidities

The rising incidence of complex comorbidities and long-term diseases has led to enhance the diagnostic imaging tests involving ultrasound, X-rays, and advanced imaging technology such as MRI & CT scans. For instance, GE Healthcare received the U.S. FDA approval for Clariscan, which is a contrast agent used for macrocyclic MRI, in November 2019. These products assist in the identification of the need for perioperative scans before surgeries and treatment in interventional procedures that further boost the market growth.

Opportunities

• Increasing Mergers and Acquisitions between Market Players

Market players adopt several strategies such as mergers & acquisitions and indication extension. Acquisitions help companies increase their presence with increased geographic reach and stronger portfolios. Disease indication extension is prevalent in this market in the given region as it allows companies to gain the confidence of select population subsets. For instance, according to NeuroLogica Corporation, the initial single-source photon-counting computed tomography (CT) scanner with a single detector acquired FDA 510(k) approval in March 2022. Also, the OmniTom Elite with PCD is capable of producing spectral CT pictures at numerous energy levels, which is expected to boost the market growth.

• Higher Demand of Minimally Invasive Therapies And Image-Guided Procedures

Healthcare professionals are employing minimally invasive therapies and image-guided procedures rapidly. From opting for a traditional diagnostic modality for OB/GYN imaging, ultrasonography has undergone a major transition to become a therapeutic approach for kidney stones, malignancies, and several other clinical disorders. These initiatives will likely create new opportunities for manufacturers in contrast to the media market to increase their revenue. There is more attractive potential for the Asia-Pacific contrast media market because of the improved public demand for diagnostic imaging services and a rise in the availability of various diagnostic imaging modalities. Thus, this factor will increase the market growth.

Restraints/Challenges

• High Cost

The demand for second-hand ultrasound equipment has increased as a result of the high cost of cutting-edge ultrasound technology and the financial limitations experienced by smaller healthcare professionals. For instance, a typical 3D/4D ultrasound system in North America costs between USD 20,000 and USD 75,000, whereas a reconditioned 3D/4D ultrasound system costs between USD 5,000 and USD 40,000. Thus, this factor impede the market growth

This iodinated contrast media in interventional X-Ray market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the iodinated contrast media in interventional X-Ray market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market

During the pandemic, all diagnostic procedures except COVID diagnosis showed a dip in 2020 which largely affected the growth of the market. Diagnosis of heart disease reduced by nearly two-thirds in the Asia-Pacific region during the COVID-19. In the post-pandemic era, the introduction of digital solutions for precise and effective management of contrast agent injection is projected to boost market growth. Numerous studies are showing the fatal effect of COVID on health that causes heart attacks and strokes; this might surge the market growth in the future.

Recent Developments

• In 2021, Koninklijke Philips N.V. collaborated with DiA Imaging Analysis Ltd. to offer operational efficiency and access to care for POC clients inside and outside of hospitals. Philips will make use of integrate DiA's automated solutions with ultrasound devices.
• In 2019, General Electric made an agreement with Daiichi Sankyo Company participated to transfer the authorization of marketing rights for four diagnostic imaging agents in Japan to GE Healthcare. After completing this agreement, the company enhanced their diagnostic imaging agents in Japan. This will assist the company in increasing their business in the market.

Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market Scope

The iodinated contrast media in interventional X-Ray market is segmented on the basis of route of administration, indication, agent type, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Route of Administration

• Intravenous
• Oral
• Rectal
• Others

Indication

• Cardiology
• Neurology
• General Surgery
• Oncology
• Urology

Agent Type

• Non-Ionic
• Ionic

End User

• Hospital/Clinical Laboratories
• Physician Offices
• Reference Laboratories
• Others

Distribution Channel

• Direct Tender
• Retail Sales
• Other

 Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market Regional Analysis/Insights

The iodinated contrast media in interventional X-Ray market is analyzed and market size insights and trends are provided by route of administration, indication, agent type, end-user and distribution channel as referenced above.

The major countries covered in the iodinated contrast media in interventional X-Ray market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).

Asia-Pacific is having the highest market share because of the high adoption of imaging techniques and increasing availability of non-ionic stable iodinated agents for improved diagnosis. Additionally, the increasing healthcare expenditure and rising number of hospitals and imaging centres in China and India upsurge demand for iodinated contrast media in interventional X-ray.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Asia-Pacific Iodinated Contrast Media in Interventional X-Ray Market Share Analysis

The iodinated contrast media in interventional X-Ray market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to respiratory diagnostics market.

Key players operating in the 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)