North America Cancer Contrast Media Market Size Worth $3.73 Billion By 2032 | CAGR: 4.5%

The north america cancer contrast media market size is expected to reach USD 3.73 billion by 2032, according to a new study by Polaris Market Research. The report “North America Cancer Contrast Media Market Share, Size, Trends, Industry Analysis Report, By Product (Microbubble, Gadolinium-Based, Iodinated, and Barium-Based); By Modality; By End User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising demand for diagnostics imaging as a result of growing cancer incidences and increasing awareness of the importance of early cancer detection leading to a higher number of diagnostic imaging procedures and screenings are prominent factors fostering the market’s growth. In addition, the growing focus of companies towards the development of innovative contrast agents for better treatment of cancer and rising regulatory approvals by government authorities further propel the growth of the market.

For instance, in June 2023, Blue Earth Diagnostics and PETNET Solutions announced the commercial availability of formers’ Posluma Injection for PET imaging of prostate cancer in the United States. Earlier this year, the US FDA (Food and Drug Administration) approved Posluma and it is now supplied via PETNET’s radio pharmacies.

Furthermore, as cancer diagnosis has been rapidly evolving over the years, mainly due to continuous advancements in knowledge of the disease and improvements in diagnostic technologies, the feasibility of reliable diagnostic approaches has increased significantly. Also, there are several cancer diagnostic modalities gaining traction, including 2D and 3D imaging using MRI (magnetic resonance imaging), PET (positron emission tomography), CT (computed tomography), SPECT (single photon emission computed tomography), and X-ray imaging.  

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With the rising proliferation and trend of personalized medicine in highly developed countries, contrast media is emerging drastically as they play a very crucial role in tailoring patient-specific diagnostic and treatment approaches. Also, collaborations with leading research institutions and academic centers could provide lucrative opportunities for companies to develop novel contrast agents and stay at the forefront of the ongoing innovations in the market while leveraging their expertise together.

For instance, in April 2023, GE Healthcare announced the expansion of its contrast media portfolio with the launch of MRI Agent Pixxoscan. The newly developed agent will give the radiology departments greater access to agents supporting a broader range of MRI procedures and helping them in personalizing care for patients.  

North America Cancer Contrast Media Market Report Highlights

• The iodinated segment accounted for the largest share, which is due to its widespread utilization in X-ray and CT scans as they provide higher quality scan images
• X-ray/computed tomography segment captured the majority share on account of the rising prevalence of these scans due to the growing emphasis on early disease diagnosis
• The hospitals & clinics segment led the market, which is attributable to the rising patient pool in hospitals and clinics and an increase in investments in hospital infrastructure
• The United States dominated the market, owing to higher incidences of cancer and awareness among patients about the importance of early detection of diseases
• The key market players include Bayer AG, GE Healthcare, IMAX Diagnostic Imaging, Nano Therapeutics, Lantheus Holdings, and Bracco Diagnostics

Polaris Market Research has segmented the North America cancer contrast media market report based on product, modality, end user, and region:

North America Cancer Contrast Media, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Microbubble
• Gadolinium-Based
• Iodinated
• Barium-Based

North America Cancer Contrast Media, Modality Outlook (Revenue - USD Billion, 2019 - 2032)

• Ultrasound
• Magnetic Resonance Imaging
• X-Ray/Computed Tomography

North America Cancer Contrast Media, End User Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals & Clinics
• Diagnostic Imaging Centers
• Research Institutes
• Others

North America Cancer Contrast Media, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

North America Cancer Contrast Media Market Report Scope