The global MRI contrast media agents market size was valued at USD 1.98 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.15% from 2023 to 2032.
Report Scope of the MRI Contrast Media Agents Market:
|Market Size in 2022||USD 1.98 billion|
|Revenue Forecast by 2032||USD 3.95 Billion|
|Growth rate from 2023 to 2032||7.15%|
|Report coverage||Product, Type, Application, End-use|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Key companies profiled||GE Healthcare; Bayer AG; Guerbet GmbH; Bracco Imaging Spa; Vitalquan, LLC; Miltenyi Biotec B.V. & Co. Kg|
MRI contrast media agents are widely used to identify the presence of tumors, aneurysms, and other tissue abnormalities. This market holds a high growth potential due to the enormous research and development in this space to develop contrast media agents with reduced ill effects, minimized the occurrence of adverse reactions, minimal dosing, and improve imaging efficacy.
These agents have the dynamics to identify the progressions of brain tumor, liver cancer, or breast cancer and establish improved guidance during surgical intervention. Contrast media-enhanced MRI procedures are likely to increase in the future as the application of MRI expands and as the information obtained from a single contrast injection increases. However, variation in practice by end-users, calls for greater standardization of protocols and utilization of the latest diagnostic algorithms.
There has been a significant increase in participation in sports in the last decade. Thus, the incidence of sports injuries is rapidly increasing. For instance, as per Johns Hopkins Medicine, around 30.0 million children & teens participate in sports and around 3.5 million sports injuries occur every year. Similarly, as per the Association for Safe International Road Travel, around 20 to 50 million people are injured or disabled due to road accidents. Thus, a surge in the number of sports and trauma injuries is boosting the demand for MRI contrast media agents.
MRI Contrast Media Agents Market Segmentation: