Growth in Medical Imaging Technology Spurring Growth in the Global Contrast Media/Contrast Agents Market: Technavio Report

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  • The key vendors in the global contrast media/contrast agents market 2015-2019 are Bayer HealthCare AG, Bracco Diagnostics Inc., Covidien Ltd., GE Healthcare and Guerbet Group

London, 28 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global contrast media/contrast agents market 2015-2019.   Advancement in medical imaging technology is a major trend emerging in the market. The increase in demand for image-guided surgical procedures and diagnostic imaging, coupled with technological advancements and growing incidence rates of cancer and cardiac disorders, is propelling market growth. The global contrast media/contrast agents market is expected to grow steadily at a CAGR of 6.94 during the forecast period of 2014-2019.

The availability of technology, demand from physicians and patients, and reimbursements are boosting the demand for contrast media/contrast agents in medical imaging. The use of diagnostic imaging is increasing because of the rise in medical spending and medical exposure to ionizing radiations.

“Manufacturers of contrast media/contrast agents focus on technological advancements in the emerging markets such as APAC and the ROW,” says Faisal Ghaus, Vice President of Technavio Research.

“The increase in demand for image-guided surgical procedures and diagnostic imaging, coupled with advances in technology, and an increase in incidence rates of cancer and cardiac disorders, are contributing to the growth of the market.”

To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance. 

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