Ultrasound Contrast Agents Market Size

Ultrasound Contrast Agents Market size is set to expand at over 19.8% CAGR during the forecast period i.e., between 2024-2036.

Ultrasound contrast agents are used to heighten the visibility of inner body structures during imaging procedures. These agents help to reduce the relaxation times of nuclei within the tissues, shortly after the intravenous or oral administration. The increasing number of ultrasound examinations for the diagnosis of various disorders globally, and the growing advancements in diagnostic technologies are expected to fuel the development of this market. The market growth can also be attributed to factors such as the increasing geriatric population and the increasing middle-class population in the emerging economies on a global level. Furthermore, rising prevalence of cancer and other critical diseases is another major growth driver for the market. According to the WHO, currently, cancer is the second leading cause of death worldwide.

According to the Globocan report, the global cancer cases is expected to have risen to 19.3 million cases along with 10 million cancer-related deaths in 2020.  With the rising prevalence of cancer cases across the developing and developed economies of the world, such as the United States, New Zealand, Australia, and others, it has become important to offer diagnostic procedures that can assist the patients in getting diagnosed at an earlier stage. As a result, this has increased the number of ultrasound diagnoses, which is further expected to increase the demand for ultrasound contrast agents in the ultrasound contrast agents market. Additionally, increasing implementation of regulatory scenarios in developed countries for using advanced diagnostic devices has increased the demand for ultrasound contrast agents.