LONDON, UK (GlobalData), 12 April 2016 - The global market for contrast media, which are substances used in medical imaging which enhance the visibility of structures or fluids within the body, is set to rise from just over $4.3 billion in 2015 to over $6 billion by 2022, representing a compound annual growth rate of 4.9%, according to research and consulting firm GlobalData.

The company's latest report* states that this growth, which will occur across the 10 major markets (10MM) of the US, France, Germany, Italy, Spain, the UK, Japan, Brazil, China, and India, will be driven by a number of factors, including increases in the number of annual computed tomography (CT), magnetic resonance imaging (MRI), and echocardiogram procedures as well as an increasing disease burden across the 10MM.

Amendeep Sanghera, GlobalData's Analyst covering Medical Devices, explains: "The contrast media market is old and well-established, with products being used in a wide array of indications. As populations rise across the global, disease rates inevitably grow, along with the need for diagnostic investigations and therefore contrast media.
"Better healthcare systems and education across numerous regions are also driving the contrast media market. For example, there is a particular focus in developed countries to screen patients for certain diseases such as breast and colorectal cancer in order to catch disease early and increase the likelihood of a patient's survival, and this practice is now spreading to developing countries."

GlobalData's report also states that the market has no real competition besides the players already in it, as no other non-invasive imaging modality is able to provide comparative results as quickly, safely, and easily to patients. However, generic contrast media manufactures may acquire market share if they are able develop a reputable brand provided at a lower cost than the four leading market players: GE Healthcare, Bayer, Bracco, and Guerbet.

Sanghera adds: "Due to excellent safety profiles, image enhancement, and wide indication coverage, contrast media have become a mainstay of modern medicine. Nuclear medicine could be a competitor in the future, but for now the contrast media market is in a stable position."

*MediPoint: Contrast Media – Global Analysis and Market Forecasts

-ENDS-

-NOTES TO EDITORS-

This report provides analysis of the contrast media space across the 10 major markets of the US, France, Germany, Italy, Spain, UK, Japan, Brazil, China and India, including annualized market data from 2015 and forecast until 2022.

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team of industry experts.

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