PUBLISHER: Grand View Research | PRODUCT CODE: 1789902
PUBLISHER: Grand View Research | PRODUCT CODE: 1789902
Contrast Media Market Summary
The global contrast media market size was estimated at USD 6.77 billion in 2024 and is projected to reach USD 13.86 billion by 2033, growing at a CAGR of 8.33% from 2025 to 2033. The demand for contrast media is rising owing to the increasing demand for medical imaging and the growing burden of chronic disorders.
High volume of imaging procedures, such as ultrasound and MRI scans, performed is anticipated to support the market growth. The growing global demand for medical imaging is a key factor driving the expansion of the contrast media market. Medical imaging plays a crucial role in the early detection, accurate diagnosis, and effective treatment planning of various health conditions. Millions of patients undergo diagnostic procedures such as MRI, CT scans, and X-rays every year. According to a study published by the National Library of Medicine in October 2023, approximately 40 million MRI scans are performed annually in the U.S. alone. The increasing volume of imaging procedures worldwide is expected to significantly boost the demand for contrast media, essential for enhancing the visualization of internal body structures during these examinations.
Beyond the U.S., other countries are also experiencing a rising demand for medical imaging procedures. According to data published by the Australian Institute of Health & Welfare (AIHW) in July 2024, a total of 10.2 million Australians accessed Medicare-subsidized diagnostic imaging services in 2022-23, while approximately 4.0 million utilized other diagnostic services. This upward trend is expected to continue in the coming years, further contributing to the growing global demand for contrast media used in diagnostic imaging.
Furthermore, the demand for iodinated contrast media is rising significantly, driven by the growing number of imaging procedures requiring enhanced visualization. Several iodinated contrast agents are experiencing strong revenue growth, reflecting increased clinical adoption. For example, in 2024, Bayer AG reported a notable revenue increase from Ultravist, its iopromide-based X-ray contrast agent used for both intra-arterial and intravenous applications. This surge in product demand underscores the expanding utilization of iodinated contrast media in radiology, positioning them as a critical driver in the growth of the global contrast media market.
The availability of diverse molecular formulations among gadolinium-based and iodinated contrast agents drives market growth. This variety allows for tailored imaging based on patient needs and clinical requirements, enhancing diagnostic accuracy and safety. For instance, gadolinium agents are widely used in MRI applications, while iodinated agents are suitable for CT procedures. Continued R&D into advanced contrast media with improved safety and efficacy further supports market expansion across diagnostic applications like oncology, cardiology, and neurology.
The pictorial representation below highlights commonly used contrast agents in MRI and CT applications, along with their respective brand names and molecular compositions.
Key Opinion Leaders
Company Name KOLs Growth Opportunities
Dr Paul Evans, head of global R&D at GE HealthCare's Pharmaceutical Diagnostics business segment "These are encouraging Phase I results for this manganese-based contrast agent, and we look forward to completing the next steps in the clinical development process. This is part of our pipeline of products aiming to improve patient outcomes across care pathways." * Emerging Manganese-Based Contrast Agents
Lindsey Thomas, senior vice president of Pharmaceutical Marketing at Fresenius Kabi USA and the company's representative on the End Drug Shortage Alliance Board of Directors "The U.S. availability of Iodixanol Injection, USP is the first offering from our generic radiology portfolio. We are doing everything we can to accelerate product availability to help our customers during this acute contrast media agent shortage, including air shipping product. We are also actively working to bring additional affordable contrast agents to U.S. clinicians to help ensure patient access to essential diagnostic imaging procedures." * Expansion of Generic Radiology Portfolio
Mark Hibberd, Chief Medical Officer, GE HealthCare Pharmaceutical Diagnostics "This extension to our portfolio means we will be able to offer two leading macrocyclic molecules-Clariscan (gadoteric acid) and Pixxoscan (gadobutrol)-to our customers in a number of European countries, offering radiology departments even more choice to suit their diagnostic needs. We continue to innovate and invest in our contrast media portfolio to deliver for healthcare professionals and patients and to meet future demand." * Geographic Market Penetration
Global Contrast Media Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2021 to 2033. For the purpose of this study, Grand View Research has segmented the global contrast media market report based on product, modality type, application, route of administration, end use, and region: