As per the research report, the Middle East and Africa Contrast Media Market size were estimated at USD 0.37 Billion in 2023. Furthermore, it is estimated to grow at a CAGR of 1.08% and be worth USD 0.39 billion by 2028.
An increase in 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. As a result, the need for computed tomography (CT), magnetic resonance imaging (MRI), ultrasound imaging, and other diagnostic techniques has increased.
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, the increase in the demand for syringeless power injectors, 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 contrast media. Moreover, increasing initiatives and investment from the government and non-government firms for the research processes, new developments, and technological advancements 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 regulations make the product launch more tedious and challenging, as well as due to the lack of skilled and trained professionals required for handling such advanced equipment. The diagnosing imaging systems are the other factors affecting the contrast media's market growth.
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.
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 standardized cardiovascular disease mortality rates 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 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 of the MEA contrast media market during the forecast period. The market growth is fuelled by 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).
The MEA contrast media market is expected to grow at a CAGR of 1.08% during the forecast period.
The growing prevalence of chronic diseases among the MEA countries, the growing demand for minimally invasive diagnostic procedures, and the expanding geriatric population are majorly driving the MEA contrast media market.
GE Healthcare, Bayer AG, Bracco Imaging S.p.A., Guerbet Group, and Lantheus Medical Imaging, Inc. are a few of the notable players in the MEA contrast media market.
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: [email protected]