Contrast Media Market Size

Contrast Media Market size was over USD 6.86 billion in 2024 and is anticipated to exceed USD 15.88 billion by the end of 2037, growing at over 6.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of contrast media is evaluated at USD 7.23 billion. The growth of the market can be attributed to the increasing prevalence of cancer, and neurological disorders, and the increased use of diagnostic imaging such as MRI, and CT. Further, the increasing product launches by key players in the industry are also expected to add to the market growth. In March 2021, Guerbets received FDA approval for a new macrocyclic gadolinium-enhanced contrast agent with high relaxation for MRI, Eluciremgadopiclenol following priority review to be used in adults and children aged 2 years or older. This product is used for the detection and imaging of neoplastic vascular lesions in the brain, spinal cord, thorax, head and neck, pelvis, abdomen, muscle, and bone.

In addition to these, factors that are believed to fuel the market growth of contrast media include the rise in the use of diagnostic imaging in the detection of COVID 19 is also estimated to contribute to the growth of the market in the forecast period. For instance, a nasopharyngeal swab is estimated to be 80% high specificity and low sensitivity. Diagnostic imaging such as lung lesions is estimated to promptly detect the coronavirus infection and its extremity. Additionally, the growing number of diagnostic facilities and positive reimbursement policies are predicted to present the potential for market expansion over the projected period.