Global 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.
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. Every year cardiovascular disease (CVD) causes 3.9 million deaths globally and more than 1.8 million deaths. In coming 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 5.80% in the mentioned forecast period. The market was valued at USD 2,497.3 million in 2022, and it would grow upto USD 3,920.63 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.
Iodinated Contrast Media in Interventional X-Ray Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Million, Volumes in Units, Pricing in USD
By Product & Services (Instruments and Devices, Assays and Reagents and Services and Software), Test Type (Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests and Molecular Diagnostic Tests), Diseases (Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Asthma, Tuberculosis, Bronchitis, Pulmonary Fibrosis and Other Diseases), End User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories and Other End Users), Distribution Channel (Direct Tender, Retail Sales and Other)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
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)
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.
Iodinated Contrast Media in Interventional X-Ray Market Dynamics
- Rise in Chronic Diseases
The occurrence of chronic conditions with multiple comorbidities is higher among the elderly adults. Every year cardiovascular disease (CVD) causes 3.9 million deaths in Global and more than 1.8 million deaths in this region. CVD accounts for 45% of all deaths globally and around 37% of all deaths in the EU. Globally, around one in three of all adults suffer from multiple chronic conditions. Six in ten adults in the U.S. have a chronic disease and 4 in 10 adults have two or more. 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 an increase in 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.
- Rising Drug Approvals
Numerous FDA approval for iodinated contrast agent will also increase the commercialization of new iodinated products in the market. Consequently, large number of approvals for iodinated agents will aid in the growth of iodinated contrast media in interventional X-Ray market. For instance, the Food and Drug Administration approved GE Healthcare Visipaque (iodixanol) imaging agent in March 2017. Consequently, growing drug approvals boost the growth of the market.
- Higher Demand of Minimally Invasive Therapies And Image-Guided Procedures
Healthcare professionals globally are employing minimally invasive therapies and image-guided procedures rapidly. From opting 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 global 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.
- High Cost
The increasing 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 Global 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 diseases reduced by nearly two-thirds globally during the early months of the pandemic as countries and patients prioritized 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.
- In 2021, with the acquisition of BK Medical, GE Healthcare enhanced its ultrasound offering into surgical imaging and increased the development of precision health.
- 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 its diagnostic imaging agents in Japan. This will assist the company in increasing its business in the market.
Global 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
- General Surgery
- Hospital/Clinical Laboratories
- Physician Offices
- Reference Laboratories
- Direct Tender
- Retail Sales
Global 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 U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is dominating the market due to the increasing penetration of iodinated contrast materials in CT procedures and wide availability of non-ionic stable iodinated agents for better diagnosis. Also, the increasing government initiatives to create the awareness about cancer and cardiac diagnosis, innovative contrast agent products being launched by numerous companies is projected to grow at the growth rate
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 number of healthcare expenditure and rising number of hospitals and imaging centres in China and India upsurge demand of 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 global 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 Global 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, global 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)