Known as contrasting agent, contrast media is a common substance used in the process of medical imaging. It is used for enhancing the contrast of the internal structures of the body and providing clear picture about any existing abnormalities. It increases visibility of the gastrointestinal tract and the blood vessels. Contrast agent is a commonplace in various medical imaging techniques including x-ray attenuation, ultrasound scattering and frequency shift and MRI signal enhancing agents. Contrast Media Market has shown significant growth in terms of technological advancements and demands.
Contrast Media Market Trends and Forecasting until 2017
The types of contrast agent are based on their imaging modalities. According to these modalities, x-ray, MRI and ultrasound proceedings make usage of these media. Iodinated, barium and gadolinium are the three major products available, which are used as contrasting agents by radiologists and medical practitioners. Apart from these basic users, contrast agents are used by gold nano-particles and radiopharmaceuticals. According to market research reports, the global contrast media market is stable and mature at present. The market has surpassed USD 6.2 billion in 2012 and is set to cross USD 8.6 billion by the end of 2017.
The market for contrasting agents is segmented based on their applications, product types and techniques. As mentioned before, iodinated, barium and gadolinium are the three basic product types of these media. Techniques that incorporate these agents include x-rays, MRI, CT scan, ultrasound and catheterization laboratory tests. Interventional radiology, regular radiology and interventional cardiology are the basic fields of applications for contrast media. Various medical indications that insist usage of this substance include respiratory, cardiovascular, musculoskeletal, oncology, neurology, nephrology and gastrointestinal indications.
Contrasting solvents for medical diagnostics are present since early 50’s. However, these products have carved their separate market in the recent past. Owing to technological advancements and increasing demand are the contributing factors for the immense growth of this market. Reduced costs of the CT scans and MRI imaging, increasing number of patients with cancer and cardiovascular disease and awareness of the medical imaging techniques have increased the revenue channels in this market. Various emerging markets and developing economies including countries in Asia, Middle East and Africa have great demand for contrast media.
There is a great competition in the contrast media market, which is the greatest challenge for smaller businesses. However, strategic partnerships with larger players could be an effective solution. It will provide them consistency, customer choice and increased product quality.
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