Medical Imaging Agents Global Market – Forecast To 2028

·8 min read

Chemical substances that improve the visibility of specific organs, tissues, or blood vessels during a diagnostic imaging investigation are known as medical imaging agents which comprise contrast agents and nuclear imaging agents, these agents are administered directly through veins, arteries, and joints or consumed orally.

New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Imaging Agents Global Market – Forecast To 2028" - https://www.reportlinker.com/p06221951/?utm_source=GNW


X-ray/computed tomography (CT) imaging exams make use of iodinated and barium-based contrast agents, whereas, Gadolinium-based contrast agents are preferred in MRI (Magnetic Resonance Imaging). These substances improve the reporting or accuracy of how internal structures of the body are working and any associated abnormalities. Ultrasound scans make use of special contrast agents called microbubbles which strongly interact with the ultrasound beam and enhance the details of the heart, liver and kidney. Nuclear medicine is a highly multi-disciplined medical imaging specialty, where, SPECT and PET scanners are used along with small amounts of radioactive material in order to diagnose diseases. According to estimates, the Medical imaging agents global market is expected to grow at mid single-digit CAGR from 2021 to 2028 to reach $12,881.0 million by 2028.

Medical imaging agents global market is segmented based on molecule/isotope, modality, application, route of administration, imaging and end-users. The market based on molecule/isotope segmented into contrast agents and nuclear imaging agents, where the contrast agents segment commanded the largest revenue in 2021 and the segment is expected to grow at mid single-digit CAGR from 2021 to 2028. The contrast agents global market is further segmented based on molecule into Iodine based [Ionic (Monomeric and Dimeric), Non-Ionic (Monomeric and Dimeric)], Gadolinium-based contrast agents [Macrocyclic (Ionic and Non-Ionic), Linear (Ionic and Non-Ionic)], microbubble based contrast agent and others which include Barium and iron-based contrast agents. Iodine-based contrast agents market contributed the largest revenue in 2021 and is expected grow at low single-digit CAGR of 4.7% from 2021 to 2028 and the microbubble segment is growing rapidly at late teen double-digit CAGR from 2021 to 2028 due to expansion in disease indications. Based on ionicity, the Iodine-based contrast agent is segmented into ionic and non-ionic. The non-Ionic Iodine-based contrast agents market accounted for the largest share in 2021 and the market is projected to grow at a mid single-digit CAGR from 2021 to 2028. Because of lower osmolality, better tolerance and another advantage, non-ionic iodine contrast agents are preferred and they are less toxic. Ionic Iodine based contrasts are further segmented based on chemical structure into monomers and dimers. Monomers accounted for the largest share in 2021 and is estimated to grow at a mid single-digit CAGR from 2021 to 2028. Non-Ionic as they are safer and tolerable when compared to ionic contrast agents and low osmolar agents do not dissociate into a particle in solution and help in reducing the neurotoxicity. The gadolinium contrast agents are further segmented based on chemical structures into macrocyclic and linear agents, among which the macrocyclic commanded the largest share in 2021 and is expected to grow at high single-digit CAGR from 2021 to 2028. Macrocyclic agents are further segmented into ionic and non-ionic agents, among which, non-ionic commanded the largest revenue in 2021 and is estimated to grow at a mid single-digit CAGR from 2021 to 2028. The Ionic segment is expected to grow at a high single-digit CAGR from 2021 to 2028.

As estimated by the research, the nuclear imaging agents global market is poised to grow at mid single-digit CAGR from 2021 to 2028. Increased radioisotopes applications, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, the abundance of radiopharmaceuticals, advancement in imaging technology (hybrid imaging) is boosting nuclear imaging agent’s market growth. In addition, increasing need in emerging markets, production of radiopharmaceuticals from cyclotrons, efficient diagnosis and treatments, emerging radio isotopes and replacement of old/traditional equipment are the opportunities likely to propel the growth of the nuclear imaging agents market.

The nuclear imaging agents global market based on isotopes are segmented into Technetium (Tc-99m), Thallium (Tl-201), Gallium (Ga-67), Iodine (I-123), Xe-133, Rhenium (Re-186), Fluorodeoxyglucose (18F-FDG), Gallium (Ga-68), Rubidium (Rb-82) and others. Technetium (Tc-99m) isotope commanded the largest revenue in 2021 and is expected to grow at mid single-digit CAGR from 2021 to 2028 and Gallium (Ga-68) is projected to grow at high double-digit CAGR from 2021 to 2028 due to its increasing use in the diagnosis of neuroendocrine tumors and emerging use in prostate cancer.

The Medical imaging agents market based on modality is segmented into X-ray/CT, MRI, Ultrasound, SPECT and PET. X-Ray/CT market held the largest market revenue in 2021 and is expected to grow at low single-digit CAGR from 2021 to 2028 and the ultrasound segment is growing rapidly at late teen double digit CAGR from 2021 to 2028 due to increased use in diagnostic procedures especially echocardiography, focal liver lesions and ultrasonography of urinary tract.

The Medical imaging agents market based on applications is segmented into cardiovascular, cancer, gastrointestinal, musculoskeletal, neurology, nephrology, obstetrics & gynecology, pulmonary, hepatology and others which include neck, bone and salivary gland imaging. The cardiovascular market accounted for the largest share in 2021 and is expected grow at mid single-digit CAGR from 2021 to 2028 and cancer is the fastest-growing segment with a high single-digit CAGR from 2021 to 2028 due to an increase in cancer imaging such as lung, thyroid and breast cancer imaging procedures using Iodine, Gadolinium and microbubble contrast agents and radiopharmaceuticals.

Medical imaging agents market by route of administration is segmented into intravascular, oral, rectal and others, which include intraosseous, intrathecal and intravesical. Intravascular accounted for the largest share in 2021 and is the fastest-growing market with a projected mid single-digit CAGR from 2021 to 2028 due to an increase in incidence and prevalence of cardiovascular, cancer, neurology, nephrology related conditions which require Iodine, Gadolinium, microbubble contrast agent and nuclear imaging agents to be administered intravascular.

The medical imaging agents market based on imaging is segmented into diagnostic and interventional imaging. Diagnostic imaging commanded the largest revenue in 2021 and is expected grow mid single-digit CAGR from 2021 to 2028. The interventional imaging segment is estimated to grow at early teens CAGR from 2021 to 2028 due to an increase in image guide procedures and an increase in the aging population who usually opt for minimally invasive procedures.

Medical imaging based on the end-user market is segmented into hospitals, diagnostic & ambulatory surgical centers and others which include academic and research institutes. The hospitals market accounted for the largest share in 2021, and the market is expected to grow at mid single-digit CAGR from 2021 to 2028, the rising demand for the diagnosis using CT or X-Ray, MRI, ultrasound, SPECT and PET imaging procedures due to increase in incidence and prevalence of diseases, the ready availability of cyclotrons for the generation of isotopes and presence of trained technicians who can handle radioisotopes. The diagnostic & Ambulatory surgical centers segment is the fastest-growing market and is estimated to grow at high single-digit CAGR from 2021 to 2028 due to an increase in the number of diagnostic procedures related to musculoskeletal (arthroscopy, imaging of spine), gastrointestinal (imaging of the abdomen, GI tract) and obstetrics & gynecology (hysterosalpingography).

Geographically, the market is segmented into North America, Europe, Asia-Pacific and RoW regions where the North America region commanded the largest revenue in 2021 and is expected to grow at mid single-digit CAGR from 2021 to 2028. Technological advancement in equipment increased utilization of fusion imaging and increase in incidence and prevalence of disease conditions requiring the use of diagnostic imaging have led the market growth in this region. However, the Asia-Pacific region is the fastest-growing market and is expected to grow at high single-digit CAGR from 2021 to 2028, due to increased healthcare awareness, improved economic growth, a large patient pool, and a rising aged population.

The Medical imaging agents global market is a competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares and also acquiring companies for product expansion. Some of the key players in the Medical imaging agents global market are GE Company (GE Healthcare) (U.S.), Bayer Group (Germany), Guerbet (France), Bracco Group (Italy), Curium Pharma (France), Cardinal Health (U.S), Lantheus Medical Imaging (U.S.), Sumitomo Chemicals (Japan), Novartis International AG (Advanced accelerator) (Switzerland), Fujifilm Holding Corporation (Japan), Fujipharma Co. Ltd (Japan), Jubilant Life science (India) and Beijing Beilu (China).
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