Next-Generation Contrast Agents Market Expecting Worldwide Growth by 2024

Next-generation contrast agents are basically contrast agents with reduced renal toxicity. Contrast agents comes in various forms such as injectable solutions, oral solution, rectal and others. These agents used during diagnostic imaging procedures.

Contrast agents are highly used during X-rays and CT due to large number of procedures, whereas there is upsurge in demand of contrast agents in ultrasound can be observed in coming future. Computed tomography (CT) is the lowest cost and most widely available medical imaging modality available in hospital settings throughout the world. Current CT contrast agents used to visualize blood vessels are not targeted and are quickly washed-out via the kidneys, however, their use is crucial in angiography and venography for indications such as stroke.

Similarly, Magnetic resonance imaging (MRI) segment also marked high adoption of next-gen contrast agents. MRI is one of the most powerful diagnostic techniques at the disposal of the medical community. Almost 75 to 90 million scans performed worldwide annually, can be attributed in part to the use of injectable contrast agents to improve signal differentiation between healthy and pathological tissue.

Ligand Pharmaceuticals Incorporated is one of the player who recently introduced an internally-funded program. The program will leverage Ligand’s patented Captisol technology, a specialized cyclodextrin that plays a role in protecting kidneys from the damaging effects of these agents;  as well as data and intellectual property obtained through its acquisition of Verrow Pharmaceuticals.

The global market for next-generation contrast agents is segmented on basis of media, device type, mode of usage, application, modality and geography:Segmentation by Media- Iodinated Contrast Media, Gadolinium-Based Contrast Media, Microbubble Contrast Media, Barium-Based Contrast Media; Segmentation by Device Type- MRI, X-Ray, Ultrasound, Computed Tomography (CT), Cath Lab; Segmentation by Mode of Usage- Injection, Oral, Rectal, Other, Segmentation by Application- Interventional radiology, Interventional cardiology, Radiology; Segmentation by Modality- Cardiovascular Disorders, Neurological Disorders, Gastrointestinal Disorders, Musculoskeletal Disorders, Nephrological Disorders, Cancer

On the basis of end user, the global Next-Generation Contrast Agents market has been segmented into imaging and diagnostic centers, private hospitals, clinics, public hospital, and others. On the basis of regional presence, global next-generation contrast agents market are segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America remains dominant in the global next-generation contrast agents market due to increasing number of patient pool. Europe is expected to hold second largest market share in global next-generation contrast agents market. However, stringent government regulation in Germany and France in terms of approval, restraining the growth of this market in European region. Emerging markets such as MEA and Latin America are expected to see delayed growth.

Some of the prominent players identified in global next-generation contrast agents market are Ligand Pharmaceuticals Incorporated, GE Healthcare, Bayer Healthcare Pharmaceuticals, Daiichi Sankyo, AMAG Pharmaceuticals, Guerbet, NanoScan Imaging, Medrad Inc., Canadian Imaging.

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