MRI Contrast Media Agents Market to Grow with a CAGR of 6.68% through 2028
Rising
prevalence of chronic diseases is expected to drive the Global MRI Contrast
Media Agents Market in the forecast period 2024-2028.
According to
TechSci Research report, “MRI Contrast Media Agents Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global MRI Contrast Media Agents Market stood at USD 2.01 billion in 2022
and is anticipated to grow with a CAGR of 6.68% in the forecast period,
2024-2028. MRI contrast media agents are extensively utilized for the detection
of tumors, aneurysms, and various irregularities in tissues. This sector
possesses substantial potential for growth due to extensive research and
development endeavors aimed at creating contrast agents with decreased negative
impacts, reduced occurrence of unfavorable responses, minimal dosing, and
enhanced imaging efficiency.
MRI Contrast
Media Agents are specialized substances administered to patients before
undergoing a magnetic resonance imaging (MRI) scan. These agents contain
elements like gadolinium that interact with the magnetic fields generated by
the MRI machine, enhancing the contrast between different tissues and
structures within the body. This interaction results in clearer and more
detailed images, aiding healthcare professionals in accurate diagnosis and
monitoring of various medical conditions. The importance of MRI Contrast Media
Agents in the Global Market lies in their pivotal role in modern healthcare.
They significantly enhance the diagnostic capabilities of MRI scans by
providing a more comprehensive view of internal structures. This is crucial for
early disease detection, precise localization of abnormalities, and monitoring
treatment responses. Contrast-enhanced MRI scans are particularly effective in
visualizing subtle changes in tissues, detecting tumors, assessing blood flow,
and identifying various pathologies.
As the demand
for accurate and non-invasive diagnostic methods grows, the importance of
contrast media agents in MRI cannot be overstated. They contribute to improved
patient outcomes, personalized treatment strategies, and reduced healthcare
costs by enabling timely and accurate diagnoses. Consequently, the Global MRI
Contrast Media Agents Market thrives as these agents remain integral to
enhancing medical imaging quality and advancing the field of modern healthcare.
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MRI Contrast Media Agents Market.”
The Global MRI
Contrast Media Agents Market is driven by factors such as the increasing
prevalence of chronic diseases requiring accurate diagnoses, technological
advancements in MRI imaging leading to higher demand for contrast-enhanced
scans, and the aging population necessitating advanced medical diagnostic
tools. Moreover, the trend towards non-invasive diagnostics, concerns about
patient safety, and the growing focus on personalized medicine are fueling the
demand for contrast-enhanced MRI scans. Additionally, ongoing research and
development efforts to create safer and more effective contrast agents further
contribute to market growth. These driving factors collectively amplify the
role of MRI contrast media agents in enhancing disease detection, patient care,
and treatment planning, thus bolstering the market's expansion.
Moreover, in the
past ten years, there has been a notable rise in sports involvement, leading to
a swift uptick in sports-related injuries. For instance, according to Johns
Hopkins Medicine, approximately 30 million youngsters and adolescents engage in
sports, resulting in around 3.5 million sports-related injuries annually.
Similarly, data from the Association for Safe International Road Travel
indicates that road accidents lead to injuries or disabilities for about 20 to
50 million individuals. As a consequence, the growing occurrence of injuries
stemming from both sports activities and accidents is driving the need for MRI
contrast media agents.
The Global MRI
Contrast Media Agents Market is segmented into products, type, application, end
use, regional distribution, and company.
Based on product,
the market is segmented into paramagnetic agents and superparamagnetic agents.
The paramagnetic agents segment was dominated the market in 2022. This is due
to the primary class of paramagnetic contrast agents is gadolinium-based
contrast agents. Others include ferric ammonium citrate and manganese-based
contrast agents. Gadolinium agents are the only ones that have grown into a
realistic market size. These components
lead to the abbreviation of T1 or T2 relaxation times, consequently resulting
in increased signal intensity on T1-weighted images or diminished signal
intensity on T2-weighted images. The majority of contrast agents with
paramagnetic properties are classified as positive agents. These agents cause a
reduction in T1 relaxation times, leading to the bright appearance of enhanced
areas on T1-weighted images. Illustrations of this category include
ferumoxides, ferucarbotran, ferumoxtran-10, agents based on iron oxide, and
numerous others. A notably researched superparamagnetic agent is Superparamagnetic
Iron Oxide Nanoparticles (SPIONs). Nonetheless, these agents come with the
drawback of being easily absorbed by macrophages.
Based on end use,
the market is segmented into hospital and imaging centers. The hospital segment
was dominated the market in 2022. This is because the hospitals serve as the
primary destinations for individuals seeking extensive diagnostic examinations.
They cater to the treatment of various chronic conditions, which elucidates
their substantial market dominance. Furthermore, hospitals exclusively possess
the capacity for research endeavors and possess the necessary economic means
and infrastructure for acquiring and storing these agents. This exclusivity
makes hospitals the primary contributors to the broader market size.
Major companies operating
in Global MRI Contrast Media Agents Market are:
- GE Healthcare
IncBayer AG
- Guerbet GmbH
- Bracco
Imaging Spa
- Vitalquan,
LLC
- Miltenyi
Biotec B.V. & Co. Kg
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“The increasing
prevalence of chronic diseases like cancer, cardiovascular conditions, and
neurological disorders necessitates accurate and timely diagnostics is expected
to propel the growth of Global MRI Contrast Media Agents Market. The trend
toward non-invasive diagnostics due to safety concerns and patient comfort
drives the utilization of MRI scans with contrast media agents. Additionally, the
ongoing research and development efforts by pharmaceutical companies to create
safer and more effective agents further stimulate market growth contribute to
foster the demand for Global MRI Contrast Media Agents Market in the forecast
period” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“MRI
Contrast Media Agents Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Products (Superparamagnetic
agents, Paramagnetic agents), By Type (Clinical, Preclinical), By Application
(Gastrointestinal, Intravenous, Hepatobiliary, Neurological Imaging, Others),
By End Use (Hospitals, Imaging Centers), By Region and Competition, has
evaluated the future growth potential of Global MRI Contrast Media Agents
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global MRI Contrast Media
Agents Market.
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