In 2022, the contrast media market was worth around USD 5,231.4 million, and it is projected to advance at a 4.9% CAGR from 2022 to 2030, hitting USD 7,647.7 million by 2030, according to P&S Intelligence.

Diagnostic imaging procedures, such as ultrasound, X-ray, and pioneering modalities, including CT and MRI are turning progressively common with the growing occurrence of intricate comorbidities and chronic illnesses. Furthermore, such modalities are gradually improving and becoming more exact to diagnose these circumstances, and contrast media is a main product that improves image quality.

The occurrence of chronic conditions has surged over the years because of the increasing deskbound lifestyles of individuals. Furthermore, there has been a substantial intake of high-calorie foods and insufficient physical activity, which are ultimately contributing to the growth of chronic diseases.

Key players in the market have a ton of opportunities because of surging R&D events in novel contrast agents and the making of innovative applications for them.

For example, to change the frequently-used gadolinium-based imaging agents, Gang Han, PHD., professor of molecular pharmacology and biochemistry, has got seed capital from the UMass Technology Development Fund to examine a safer, novel biogenic family of contrast agents for magnetic resonance imaging.

Browse detailed report - Contrast Media Market Analysis and Demand Forecast Report

In 2022, according to the regional analysis, North America held the largest market share, at approximately 45%. The count of inpatient check-ups in the continent is growing, credited to the deep-rooted healthcare amenities, complete disease screening programs introduced by provincial, federal, and state governments, easy access to leading-edge technology, and rising requirements for improved management of the present diseases.

Additionally, the existence of the key players in the continent is a vital contributing factor to the market development.