The size of the Asia Pacific contrast media market has been forecasted at USD 1.02 Billion in 2022. Furthermore, it is estimated to grow at a CAGR of 3.9% and be worth USD 1.23 billion by 2027. Thus, the Asia Pacific contrast media market is rising at a promising speed.
The rising frequency of chronic diseases, the increasing number of contrast agent approvals, the growing number of examinations conducted, the expanding number of diagnostic centers and hospitals, and the availability of reimbursement are primarily accelerating the market's growth in Asia. As a result, players in the market should expect excellent growth opportunities in emerging markets in Asian countries. In addition, diagnostic imaging tests have increased as the prevalence of long-term diseases, and complex comorbidities have increased. Ultrasound, X-rays and advanced imaging technologies like Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans are all instances of this.
The use of image-guided treatments can aid in determining whether malignancy is malignant or benign. With time, image-guided surgeries (IGS) are increasing in popularity. These methods can be used to diagnose and treat a variety of illnesses. The growing necessity for and desire for imaging refinement during surgeries necessitates novel data collecting methods. This need is best met by image-guided procedures, which has resulted in increased demand for diagnosis and treatment and has contributed to market expansion. With numerous forms of chronic diseases on the rise, demand for diagnostic imaging is at an all-time high.
Due to the patent expiration of branded contrast media products, competition in the contrast media market is projected to heat up significantly in the next few years. This will allow generic counterparts, which are less expensive than commercially available branded agents, to enter the market. Among all the services given by physicians, the number of imaging services per Medicare beneficiary has increased the most. Its dominance is partly due to favorable regulations, a well-developed healthcare infrastructure, and the rapid adoption of new medical technologies.
Advanced treatments' high cost and inaccessibility are expected to limit the market's growth rate to some extent. In addition, specific adverse effects and allergic responses linked to its use may stifle market expansion for some time. Their side effects range from mild to severe; severe reactions are infrequent, as are significant allergic reactions to contrast materials. A scarcity of specialists and radiologists would hamper the market expansion.
This research report on the Asia-Pacific contrast media market has been segmented and sub-segmented into the following categories:
By Medical Procedure:
By Route of Administration:
In 2020, Asia Pacific retained a sizable market share. This is due to the presence of well-established local and international manufacturers in the area. For example, General Electric Pharmaceuticals (Shanghai) Co., Ltd. is a GE Healthcare subsidiary that manufactures diagnostic pharmaceuticals (CT/MR contrast media) in China. It is one of the world's most extensive contrast media manufacturing facilities. In this collection of regional markets, China will continue to be one of the fastest expanding. The Asia-Pacific market is led by countries like Australia, India, and South Korea. Increased research and development activities in imaging modalities demand image-guided procedures, which contribute to an aging population. Therefore, China and India are projected to see a surge in demand due to their large population.
KEY MARKET PLAYERS:
A few of the notable companies operating in the APAC contrast media market profiled in the report are CMC Contrast AB (Sweden), Daiichi Sankyo (Japan), Bayer HealthCare (Germany), GE Healthcare (U.S.), Guerbet Group (France), Bracco Imaging S.p.A. (Italy), Lantheus Medical Imaging (U.S.), nanoPET Pharma GmbH (Germany), and Subhra Pharma Private Limited (India).
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: firstname.lastname@example.org