Imaging Agents Market Size to Hit USD 17.49 Bn by 2032 | Says GIH
Published Date:
29 Sep 2024
Imaging Agents Market size was at USD 10.70 billion in 2025 and is expected to rise to a value of USD 17.49 billion in 2032 with a CAGR of 6.6% during the forecast period 2025-2032 according to the new analysis by Global Industry Hub.
Increasing health care infrastructure combined with R and D investment and adaptation of innovative contrast agents, and adaptability in the industry landscape. Growth in the number of cancer and CVD cases globally and an increased demand for image-guided procedures will foster the growth of the imaging agents market.
Market progression is fueled by increased innovation in imaging procedures and agents
Major drivers of the market are advances in imaging procedures as well as in imaging agents. Advancements and innovations in technology offer effective, convenient, and less-invasive procedures that will increase the adoption rate of such procedures.
For example, May 2021, Lantheus received U.S. FDA approval for PYLARIFY a PSMA PET imaging agents for prostate cancer. The Pylarify injection assists in the visualization of bone, soft tissue, and lymph node metastases in an effort to see if the cancer is recurrent or advanced prostate cancer.
In 2021, scientists have also discovered new imaging agents that trace the creation of a tumor to make fast and more effective treatments for cancer diagnosis. Moreover, in the month of August 2021, GE Healthcare announced clinical trials of the F18 Angio radioactive PET contrast agent.
https://www.globalindustryhub.com/industry-report/imaging-agents-market
The new imaging agent is designed for the imaging of angiogenesis. It traces the formation of new blood vessels in the body. It forms when wounds heal or tumors start to grow there malignantly.
Other than these, growing prevalence of cancers such as lung cancer, breast cancer, prostate cancer, cervical cancer, head and neck cancer, and others across the world will boost the demand for imaging procedure. According to the National Cancer Institute, a new case count for prostate cancer in 2021 will be 2,48,530. Another tool used for looking into soft tissues in early cancers is ultrasound modulated optical tomography. This advanced imaging technology provides imaging with a new dimension; therefore, the application of imaging agents is increasing.
Imaging Agents Market Companies
Key companies operating within the imaging agents industry are: Siemens Healthineers, Canon Medical Systems Corporation, RadNet, Bayer Healthcare Pharmaceuticals, GE Healthcare, Alliance Medical, Lantheus Medical Imaging Inc., Guerbet Group, Eli Lily, Mindray and Hologic, Inc., Blue Earth Diagnostics, Blackford Analysis, Philips Medical.
The growing demand from iodinated contrast media is expected to drive market expansion in imaging agents
Iodinated contrast media segment exceeded USD 4 billion in 2021, mainly due to the increasing number of angioplasty procedures being performed worldwide. Moreover, growing adoption of low osmolar contrast media due to proven efficacy in diagnostic imaging and reduced toxicity issues will propel the overall imaging agents market sales.
Iodinated contrast media is utilized in several modalities, including CT, X-ray, ultrasound, MRI scans, and cath lab procedures. Furthermore, iodinated contrast medium is an intravenous radiocontrast containing iodine, which serves to make vascular systems and organs more visible during radiographic operations.
The increasing number of cases relating to cardiovascular disorders will facilitate the growth of the application segment
Cardiovascular disorder predominantly occurs among habitual smokers and exposure to toxic substances. For example, according to the Centers for Disease Control and Prevention, in the U.S., approximately 1.5 million strokes and heart attacks occur every year. Also, stated that the disease causes death to more than 800,000 people each year due to cardiovascular disease with approximately 160,000 of that death occurrence in those under the age group of 65. Thus, to prevent these cardiovascular disorders, imaging procedure is followed using the agents for imaging.
Moreover, cardiology applies microbubble contrast agents when an aortogram has to be seen in case of arterial abnormalities or occlusion. It brightens up the lumen of blood vessels and other heart structures so that they can be observed in a better way. It can also enable the study of the status of a patient's heart even after any treatment or surgery done.
X-ray imaging modality was a major stakeholder in the business of the imaging agents market
X-ray segment is estimated to grow forecast period from 2024 to 2032 primarily due to increased demand for X-Ray imaging in disease management. Low cost associated with the x-ray modality and significant acceptance of the x-ray modality in general will drive the usage of the imaging agents. Radiologists use imaging agents in x-ray to distinguish between physiologic and pathologic conditions in the body. What's more, advanced x-ray systems such as Hierarchical Phase-Contrast Tomography (HiP-CT), can image whole organs at down to 1 micron resolution, which leads to the imaging agents market share.