North America Iodinated Contrast Media in Interventional X-Ray Market, By Route of Administration (Intravenous, Oral, Rectal, Others), Indication (Cardiology, Neurology, General Surgery, Oncology, Urology), Agent Type (Non-Ionic, Ionic), End User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories and Other End Users), Distribution Channel (Direct Tender, Retail Sales and Other) – Industry Trends and Forecast to 2029.
North America Iodinated Contrast Media in Interventional X-Ray Market Analysis and Size
The North America iodinated contrast media in interventional X-Ray market is expected to witness significant growth during the forecast period. According to the National Health Council records, in 2020, approximately 157 million people in the U.S. were affected by chronic diseases, out of which about 81 million had multiple conditions, which is indicative of a high occurrence of chronic conditions. Rising preference towards iodinated contrast media from traditional contrast media is boosting the market during the forecast period.
Data Bridge Market Research analyses a growth rate in the iodinated contrast media in interventional X-Ray market in the forecast period 2022-2029. The expected CAGR of iodinated contrast media in interventional X-Ray market is tend to be around 5.8% in the mentioned forecast period. The market was valued at USD 1053.61 million in 2021, and it would grow upto USD 1654.11 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Iodinated contrast media in interventional X-ray is important for healthcare practitioners make appropriate clinical and diagnostic decisions across numerous levels of health care services. Iodinated contrast media are contrast agents containing iodine atoms that are used in x-ray imaging modalities such as computed tomography (CT). They can also be used in fluoroscopy, angiography, and venography, as well as, on rare occasions, plain radiography. It is used for X-ray procedures like CT, angiography, coronary angiography, arthrography, myelography, and gastrointestinal fluoroscopic studies. For MRI studies, gadolinium contrast agents are used.
North America Iodinated Contrast Media in Interventional X-Ray Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Route of Administration (Intravenous, Oral, Rectal, Others), Indication (Cardiology, Neurology, General Surgery, Oncology, Urology), Agent Type (Non-Ionic, Ionic), End User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories and Other End Users), Distribution Channel (Direct Tender, Retail Sales and Other)
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Countries Covered
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U.S., Canada, Mexico
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Market Players Covered
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Bayer AG (Germany), Iso-Tex Diagnostics, Inc. (U.S.), Bracco Diagnostic Inc. (Italy), Novalek Pharmaceuticals Pvt. Ltd. (India), Taejoon Pharm (South Korea), Unijules Life Sciences Ltd (India), General Electric (U.S.), Guerbet (France), JB Pharma (India)
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Market Opportunities
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Iodinated Contrast Media in Interventional X-Ray Market Dynamics
Drivers
- Growing Rate of Complex Comorbidities
The rising prevalence of complex comorbidities and long-term diseases has led to an upsurge in diagnostic imaging tests, which includes ultrasound, X-rays, and advanced imaging technology such as MRI & CT scans. For instance, in November 2019, GE Healthcare received the U.S. FDA approval for Clariscan, which is a contrast agent used for macrocyclic MRI. These products help identify the need for perioperative scans before surgeries and treatment in interventional procedures, boosting the market growth.
- Higher Demand of Hospitals
The rising demand of hospitals increase the market growth rapidly. Most chronic disease diagnostics are majorly carried out in hospitals as they are very complex in nature and it requires technologically advanced products and thus this is driving the market for hospital/clinical laboratories.
Opportunities
- Rise in Chronic Diseases
The incidence of chronic conditions with multiple comorbidities is higher among elderly adults. As per the records of the National Council on Aging, almost 80% of people aged 65 and above suffer from at least one chronic condition, with nearly 70% of Medicare beneficiaries suffering from more than 2 chronic conditions, and approximately 77.0 million people in the U.S. are estimated to be aged 65 & above by 2034. Thus, this factor create more opportunity for the market growth
- Increased Drug Approvals
Several FDA approval for iodinated contrast agent will also surge the commercialization of new iodinated products in the market. As a result, many approvals for iodinated agents will help in the growth of iodinated contrast media in interventional X-Ray market. For instance, In March 2017, the Food and Drug Administration (FDA) approved GE Healthcare Visipaque (iodixanol) imaging agent. Thus, increasing drug approvals boost the growth of the market.
Restraints/Challenges
- Lack of skilled professionals
The lack of qualified personnel who cannot use these diagnostic techniques could curb the growth of the North America iodinated contrast media in interventional X-Ray market over a forecast period.
- High Cost
The huge expenditure required for setting up these techniques surely hamper the market growth. Several market players make huge investment in installing new and advanced machines to faster the process and in return the cost is increased.
This North America iodinated contrast media in interventional X-Ray market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the North America iodinated contrast media in interventional X-Ray market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on North America Iodinated Contrast Media in Interventional X-Ray Market
During the pandemic, all diagnostic procedures except COVID diagnosis showed a dip in 2020 which largely affected the market's growth. Diagnosis of heart diseases reduced by nearly two-thirds globally during the early months of the pandemic as countries and patients prioritized COVID-19. In the post pandemic era, the introduction of digital solutions for precise and effective management of contrast agent injection is projected to boost market growth. Numerous studies are showing the fatal effect of COVID on health that causes heart attacks and strokes; this might surge the market growth in the future.
Recent Developments
- In June 2019, General Electric and Daiichi Sankyo Company signed an agreement that Daiichi Sankyo to transfer the authorization of marketing rights for four diagnostic imaging agents in Japan to GE Healthcare. After completing this agreement, the company expanded its diagnostic imaging agents in Japan. This will help company to grow its business in the market.
North America Iodinated Contrast Media in Interventional X-Ray Market Scope
The North America iodinated contrast media in interventional X-Ray market is segmented on the basis of route of administration, indication, agent type, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Route of Administration
- Intravenous
- Oral
- Rectal
- Others
Indication
- Cardiology
- Neurology
- General Surgery
- Oncology
- Urology
Agent Type
- Non-Ionic
- Ionic
End User
- Hospital/Clinical Laboratories
- Physician Offices
- Reference Laboratories
- Others
Distribution Channel
- Direct Tender
- Retail Sales
- Other
North America Iodinated Contrast Media in Interventional X-Ray Market Regional Analysis/Insights
The North America iodinated contrast media in interventional X-Ray market is analysed and market size insights and trends are provided by route of administration, indication, agent type, end-user and distribution channel as referenced above.
The major countries covered in the North America iodinated contrast media in interventional X-Ray market report are the U.S., Canada, and Mexico.
U.S. is growing with a highest growth rate due to the increased number of cardiovascular CT procedure and high adoption of contrast agent in diagnostic testing for chronic diseases such as cardiac disorders, stroke, chronic lung disease and many others.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Iodinated Contrast Media in Interventional X-Ray Market Share Analysis
The North America iodinated contrast media in interventional X-Ray market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to North America iodinated contrast media in interventional X-Ray market.
Key players operating in the North America iodinated contrast media in interventional X-Ray market include:
- Bayer AG (Germany)
- Iso-Tex Diagnostics, Inc. (U.S.)
- Bracco Diagnostic Inc. (Italy)
- Novalek Pharmaceuticals Pvt. Ltd. (India)
- Taejoon Pharm (South Korea)
- Unijules Life Sciences Ltd (India)
- General Electric (U.S.)
- Guerbet (France)
- JB Pharma (India)
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