Global MRI Contrast Media Market by Type (Injection Type, Oral Type), By Application (Hospitals, Clinics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The global MRI contrast media market is projected to reach USD 2.7 billion by 2028. Increasing adoption of MRIs in emerging countries coupled with growing incidence rates of neurological disorders is a major factor driving the growth of this market. The increasing prevalence of Parkinson's disease and multiple sclerosis will also augment the demand for MRI contrast agents during the forecast period 2018-2028.

MRI contrast is a substance that is injected or ingested and used to enhance the images of certain organs, tissues, and structures on MRI scans. Contrast agents can be either water-soluble (dye) or fat-soluble (gadolinium). A mixture of both types may also be administered for some clinical applications.

The first use of an MRI contrast agent was in 1978 when gadolinium gallate was introduced as part of a test to better visualize blood vessels on MRIs. This method makes it possible to see detailed information about various parts of the body such as brain tissue, spinal cord structure, heart function, and tumor growths with detail not seen before without using contrast media. The high-level clarity provided by these substances provides physicians with the great diagnostic ability to detect abnormalities in patients.

On the basis of type, the global MRI contrast media market is segmented into injection type and oral type.

Injection-type

Injection-type MRI contrast media are the most common type of artificial agent used for imaging in magnetic resonance imaging. The agent is injected into a vein and travels to the organ being examined, where it causes the body's tissues to show up more clearly on an MRI scan (or X-ray). In some cases, injection-type MRIs may be followed by taking pictures (called a `picture sequence') or collecting data about blood flow rates within specific areas of tissue. These tests provide valuable information that can help physicians diagnose abnormalities such as tumors or clogged arteries. injection types are further divided on the basis of drug classifications, namely, nonionic low osmolarity agents (LOA), ionic high osmolarity agents (HOA), ionic low osmolarity agents (LOOA), and non-ionic high osmolarity agents (HIOA).

Oral-Type

Oral MRI contrast media is a type of medicine that people swallow to make certain organs show up better during an MRI scan. It is also called a "gastrointestinal" or GI contrast agent because it's used for imaging the gastrointestinal tract.

Oral MRI contrast media is used to visualize the walls of the stomach, intestines, and colon. It may also be used for imaging blood vessels in organs such as kidneys or spleen. When an oral contrast agent is taken, it works by filling up these structures like water does when you put a sponge into a glass of it and squeeze out some of the liquid. This makes them show up better on an MRI scan so that doctors can see more detail about what's happening inside those parts of your body.

Many times gastroenterologists will recommend this type of examination before they perform endoscopy or surgery because it gives important information about how other organs are working together with the digestive tract during normal function and any potential problems that might be occurring.

On the basis of application, the global MRI contrast media market is segmented into hospitals and clinics.

Hospitals

MRI contrast media are used in hospitals to enhance the visibility of organs and tissues on an MRI scan. The application is known as diagnostic radiography, which involves using ionizing radiation or electromagnetic fields for medical purposes. Some examples of studies conducted with these techniques include:

Renal angiography includes imaging the kidneys' blood vessels and performing interventions such as percutaneous renal angioplasty (PRA) or stenting; Cardiac catheterization uses ultrasound waves to image the heart's chambers, arteries, valves, and electrical activity; Coronary artery bypass grafting employs a similar technique but specifically targets coronary atherosclerotic plaques by removing them via vascular surgery so that blood can flow freely through narrowed areas; Positron emission tomography uses PET scanning to detect and locate cancerous cells in the body.

Clinics

MRI contrast media is imperative in the diagnosis of diseases. In clinics, this need arises when physicians are faced with a difficult case and even more so for young children who may not be able to articulate their symptoms verbally. MRI scans involve administering a small dose of gadolinium-based contrast material intravenously that can highlight changes on the surface or inside organs without any radiation exposure to patients. It is used as an alternative to surgery by providing doctors with clear images that help them make proper diagnoses about what's going on within the body; they also have some efficacy in determining whether cancer has spread from its original location since there will often be clusters around tumors instead of distributed evenly throughout tissue as healthy cells would display. The level and nature of the change to tissues can also be determined by MRI, which is useful in determining the level of heat damage and tissue destruction from burns.

On the basis of region, the global MRI contrast media market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the global MRI contrast media market in 2018.

North America: North America is a high investment region as healthcare facilities & equipment are well developed and have huge potential for growth. The number of MRI scans performed per capita, which provides an indication of access to diagnostic services, was found to be higher than in any other world region. It has also been forecasted that by 2028, there will be a decline in demand for this particular type of product due to rising preference towards newer products such as PET CT scanners and ultrasound devices among others.

Europe: On the contrary, Europe dominates both prescription volume and revenue with a 41% share in total worldwide volume sales but only 22% share in total worldwide revenue sales. This is due to the high price of MRI contrast media and strong generic market competition as well as a slowing economy causing lower demand for diagnostic services in this region, especially among hospitals that are major buyers of these products.

Asia Pacific: The APAC region has shown significant growth rates when compared to other regions like North America over the last decade with an annual compound average growth rate (CAGR) of 13%. With China emerging as one of the largest economies in the world and India looking into healthcare reform along with both public & private sectors, it is expected that MRIs will also grow at an exponential pace in this region, thus increasing their share by 2028 from their current 18% towards 26%.

Latin American: Latin America showed a CAGR of 11% over the last decade. The region is also projected to close the gap with the Asia Pacific, as it has shown more increase than other regions like Europe and Middle East & Africa since 2013.

Middle East & Africa: MRIs are still not very popular in this region due to a lack of awareness about their applications among physicians as well as patients who do not have sufficient healthcare insurance coverage for these services. Countries such as Qatar, Kuwait, UAE, and Saudi Arabia show high demand but they represent less than 25% of the total MRI market share despite being major economies within this continent.

Growth Factors

-Growing demand for contrast media is expected to drive the global MRI Contrast Media market. The increasing incidence of diseases in developing countries and the rising prevalence of cardiovascular disease worldwide are also projected to foster growth.

-The increasing number of hospital construction projects across the globe is expected to create opportunities for market growth.

Up Market Research published a new report titled “MRI Contrast Media Market research report which is segmented by Types (Injection Type, Oral Type), By Applications (Hospitals, Clinics), By Players/Companies GE, Bayer, Bracco Imaging, Guerbet Group, Hengrui Medicine, Lantheus, YRPG, BeiLu Pharma”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global MRI Contrast Media Market Report Segments:

The market is segmented by Type Injection Type, Oral Type and By Application Hospitals, Clinics.

Some of the companies that are profiled in this report are:

1. GE
2. Bayer
3. Bracco Imaging
4. Guerbet Group
5. Hengrui Medicine
6. Lantheus
7. YRPG
8. BeiLu Pharma

MRI Contrast Media Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the MRI Contrast Media Market

Overview of the regional outlook of the MRI Contrast Media Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The MRI Contrast Media Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of MRI Contrast Media Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. Injection Type

                2. Oral Type

                1. Hospitals

                2. Clinics

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the MRI Contrast Media Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the MRI Contrast Media Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.