Medical contrast media market to touch $ 5.17 bn by 2020

The global contrast media (or contrast agents) market is expected to reach a value of $5.17 billion by 2020, from an estimated value of $ 4.21 billion in 2015, at a CAGR of 4.2 percent during the period (2015-2020), according to a new report of MarketsandMarkets. A medical contrast medium (or contrast agent), which is a substance used to enhance the contrast of structures or fluids within the body in medical imaging, is commonly used to enhance the visibility of blood vessels and the gastrointestinal tract.
 
The global contrast media/contrast agents market has been segmented on the basis of product, route of administration, indication, procedure, application, and region.
 
Based on product, the contrast media/contrast agents market is categorised into barium, iodinated, gadolinium, and microbubble contrast media. In 2015, the iodinated contrast media segment is estimated to account for the largest share of the contrast media/contrast agents market, among products. However, the microbubble contrast media segment is expected to grow at the highest CAGR during the 2015-2020 period.
 
In 2015, the injectable segment is expected to account for the largest share of the contrast media/contrast agents market, among the different routes of administration such as oral, injectable, rectal, and urethral routes.
 
Based on indication, the market is segmented into cardiovascular disorders, oncology, gastrointestinal disorders, musculoskeletal disorders, neurological disorders, and nephrological disorders. The cardiovascular disorders segment is estimated to account for the largest share of the global contrast media/contrast agents market (by indication) in 2015.
 
On the basis of procedure (segmented into X-ray/CT, MRI, and ultrasound), the X-ray/CT segment is expected to account for the largest share of the contrast media/contrast agents market in 2015. However, the ultrasound segment is expected to register the highest CAGR during the given forecast period. The radiology segment is estimated to account for the largest share of the market, among the applications.
 
While North America is anticipated to account for the largest share of the given market, the Asia-Pacific market is expected to grow at the highest CAGR during the 2015-2020 forecast period, thus serving as a revenue pocket for companies offering contrast media/contrast agents in the near future.