As per the research report, the Middle East and Africa Contrast Media Market size have been estimated at USD 0.37 Billion in 2022. It is further estimated to grow at a CAGR of 1.08% and worth USD 0.39 billion by 2027. The Middle East and Africa Contrast Media market are growing at a slow rate.
An increase in the incidence of chronic diseases such as cancer, diabetes, cardiovascular diseases, and other illnesses is expected to drive the contrast medical market in the MEA region. Contrast is utilized to increase and enhance the quality of pictures, and it is also used to distinguish between normal and pathological situations in some cases. The need for computed tomography (CT), magnetic resonance imaging (MRI), ultrasound imaging, and other diagnostic techniques has increased as a result.
Furthermore, the increasing prevalence of cardiovascular diseases, due to the rise in the population to the growing population of older people in the region, is estimated to fuel the market’s growth rate. In addition, the rising awareness about early diagnosis and its benefits among people are expected to influence market growth positively.
Also, due to the increase in the demand for the syringeless power injectors and the presence of various types of contrast media and the applications such as automated patient data collection with low prices are driving the market growth of the contrast media. Moreover, increasing initiatives and investment from the government and non-government firms for the research processes, increasing new developments and advancements in the technology for enhancing the methodologies expand the market growth.
However, the increase in the high cost of advanced therapies and treatment with the issues related to some side effects with symptoms such as vomiting, swelling, hives, and other contract reactions and damages due to which people hesitate to get treated; these are the factors that are limiting the growth of the market. Also, the approval processes related to the product with stringent government rules and regulation makes the product launch more tedious and challenging, as well as due to lack of skilled and trained professionals that are required for handling such advanced equipment and the diagnosing imaging systems are the other factors that are affecting the market growth of the contrast media.
This research report on the Middle East and Africa contrast media market has been segmented and sub-segmented into the following categories:
By Medical Procedure:
By Route of Administration:
The Middle East and Africa have an untapped market, and key players are slowly expanding to this region, which is the main reason for the market's growth in this region.
The UAE contrast media market dominated the MEA market in 2020, and it is estimated to show high growth in the market in the coming years. The significant increase is attributed to the standardized cardiovascular diseases mortality rates when compared to other regions. Its rate is 201 and 309 fatalities per 100,000 people.
The South African contrast media market is also expected to show a lucrative growth rate during the forecast period. The increasing competition between the market players and by adopting new advancements and developments in the technology, growing adoption of minimally invasive surgical techniques are driving the market growth of contrast media.
The Saudi Arabian contrast media market is projected to account for a promising share in the MEA contrast media market during the forecast period. The market growth is fuelled by the rising awareness, increasing initiatives, and investment from government and non-government firms for early diagnosis and improving the method for better imaging concentrations.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the MEA 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) in 2015. Lantheus Medical Imaging (U.S.), nanoPET Pharma GmbH (Germany), and Subhra Pharma Private Limited (India).
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