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Imaging Agents Market Size - By Product Type (Iodinated Contrast Media, Gadolinium-based Contrast Media, Microbubble Contrast Media, Barium-based Contrast Media), Application (Oncology, Gastrointestinal, Cardiology Neurology), Modality, End-use & Global Forecast, 2022 - 2030

  • Report ID: GMI5267
  • Published Date: May 2022
  • Report Format: PDF

Imaging Agents Market Size

Imaging Agents Market size surpassed USD 9.2 billion in 2021 and is expected to witness 5% CAGR from 2022 to 2030 owing to the increasing number of cancer cases across the globe along with surging innovation in imaging procedures and agents. Furthermore, increasing R&D investments along with rising healthcare infrastructure and the adaptation of innovative contrast agents are expected to drive market growth over the forthcoming years.

imaging agents market outlook

Imaging agents is an important component of medical imaging since they help to visualize body organs better during an ultrasound, X-ray, MRI, and CT scans. Various trends in the imaging agents industry include nanoscale MRI contrast agents and Angio radioactive PET contrast agents among others that influence the market growth.

The COVID-19 pandemic had a moderate impact on the imaging agents market. In 2020, due to surging number of COVID-19 cases along with travel restrictions and limited access to hospitals and fewer patient visits to imaging centers for imaging procedures, the market experienced a slight decline in revenue.

However, in 2021, the government in various countries started removing travel restrictions and lockdowns. This step proved advantageous for restoration of healthcare industry and rendered a positive impact on the imaging agent industry. It increased the adoption of imaging procedure thereby increasing the demand for imaging agents.

As the number of COVID-19 affected patients reduce globally, the healthcare facilities resumed providing outpatient cancer care that has increased the number of imaging procedures and is steadily restoring the procedural volume to the pre-pandemic level. These factors are helping to uplift the market growth.

Imaging agents or contrast agents are used during imaging procedures to visualize the function of internal organs including the chemical process involved in blood flow, metabolism, and oxygen supplies among other. Also, it enhances the visibility of targeted tissue.

Rising number of cancer and CVD cases is expected to accelerate the market growth

Surging number of cancer and CVD cases worldwide is expected to foster the market demand for imaging agents over the analysis timeframe. For instance, according to the World Health Organization, in 2018, cancer was the second leading cause of death worldwide, accounting for over 9.6 million deaths. Similarly, according to the American Heart Association, in 2019, around 18.6 million people died of cardiovascular disease globally.

Rising alcohol and tobacco consumption has resulted in an increase in the global cardiovascular and cancer disorder burden. Tobacco usage accounts for almost 22% of all cancer deaths. Hence, these aspects will boost the demand for imaging procedures and imaging agents proving beneficial for the overall imaging agents market sales.

Imaging agents are used in determining the stages of cancer (how far it has progressed) as well as whether the cancer is in, around, or near vital organs and blood vessels. Also, intravenous gadolinium-based contrast agents (GBCAs) are used in the majority of cardiac MRI tests to increase the visibility of the heart muscle and blood flow.

Moreover, an increase in cancer imaging such as lung, thyroid, and breast cancer imaging procedures require gadolinium, microbubble, and iodine imaging agents. Thus, the growing popularity of pre-diagnosis of breast cancer and colorectal cancer using imaging agents will accelerate the imaging agents market revenue during the forecast period.

Imaging Agents Market Analysis

imaging agents market by product

Based on product type, the gadolinium-based contrast media segment accounted for around 13.8% market share in 2021 and the trend will continue to rise in the near future due to the increasing utilization of gadolinium-based contrast agents to improve the quality of magnetic resonance imaging (MRI) scans and to detect diseases or other abnormalities.

Also, intravenous gadolinium-based contrast agents (GBCAs) are used in the majority of cardiac MRI tests to increase the visibility of the heart muscle and blood flow. Moreover, an increase in cancer imaging such as lung, thyroid, and breast cancer imaging procedures that require gadolinium-based imaging agent will further fuel the market growth.

During, the minimally invasive urological surgery the urologist can employ gadolinium-enhanced MRI to assess the success of new minimally invasive therapies. Such factors will accelerate the segmental as well as market growth. Moreover, researchers are also developing unique nanoscale MRI contrast agents consisting of gadolinium materials that resonate when exposed to magnetic radiation and are enclosed in carbon nanotubes. Therefore, numerous benefits of this imaging agents over others secure the segmental as well as imaging agents industry growth.

imaging agents market by application

On the basis of application, the oncology segment accounted for around USD 2.3 billion market size in 2021 owing to the rising prevalence and growing demand for colorectal cancer screening coupled with increasing levels of geriatric population. Also, changing lifestyles with increased smoking habits, further results in a large pool of carcinoma lung patient population that fosters the imaging agents market value.

For instance, as per the Centers for Disease Control and Prevention in the U.S. colorectal cancer screening rates among adults aged 50 to 75 years increased 1.4% from 67.4 percent in 2016 to 68.8 percent in 2018.

Additionally, in oncology CT, MRI, MRA, and PET/CT imaging agents utilize to detect the breakage of the blood-brain barrier in brain tumors. This factor will enhance segmental growth. Moreover, various market players are focusing toward enhancing their imaging technology business. Thus, this factor will propel the demand for imaging agents.

For instance, in March 2019 Bracco Imaging established a new subsidiary, Blue Earth Therapeutics, to expand the innovation in next-generation therapeutic radiopharmaceutical technology for prostate cancer. This subsidiary is involved in the development of a pipeline of precision-targeted therapeutic radiopharmaceuticals with the goal of expanding into additional oncology disease areas. This strategy assisted the company in expanding its imaging agent business.

Based on modality, the imaging agents industry is categorized into X-ray, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound and others. The computed tomography (CT) segment accounted for over 25.7% market share in 2021. CT scanners produce 3D, 2D, and cross-sectional images, which are used to investigate interior injuries, complex tissues, and anomalies.

Also, it aids in the early detection of potential health hazards. CT scanning is painless and non-invasive procedure and produces extremely detailed images of soft tissue, blood arteries and bone, all at the same time. Moreover, CT scan is a prominent procedure used in the diagnosis of COVID-19. The chest CT for pulmonary embolism is increasingly utilized since it is effective in identifying both alternate diagnosis and COVID-19 complications.

Also, CT may reveal signs of viral pneumonia, aiding in the clinical diagnosis. As a result, the market for imaging agents is expected to grow over the forecast period. Furthermore, barium-based imaging agents are specifically used on computed tomography to improve visualization of the gastrointestinal tract, including the stomach, intestines, and esophagus. Such aforementioned factors further enhance the overall market growth.

Based on end-use, diagnostics and imaging centers segment accounted for over USD 2.4 billion market size in 2021. The diagnostic & imaging centers use advanced X-ray systems and blood tests to determine a person's conditions and offer cost-effective and quality treatment. Such aforementioned benefits will spur segmental growth. Furthermore, a diagnostic imaging center has trained professionals and advanced equipment, and improved imaging agents to perform a variety of screening tests.

imaging agents market by region

North America imaging agents market is poised to grow at 4.9% CAGR through 2030 owing to increasing healthcare infrastructure and R&D investments across the region. The regional market is inclined towards funding and early diagnosis & treatment of chronic diseases with its significant measures, instruments, and infrastructure of hospitals or other centers. The presence of several market participants focusing on developing innovative imaging agents for better patient management will prove advantageous for the market expansion. Additionally, key industry players also take promotional and marketing efforts to increase the awareness amongst the people regarding the availability of superior imaging agents that should augment the industry growth in forthcoming years.

Imaging Agents Market Share

Some of the key market players operating in the imaging agents industry include

  • GE Healthcare
  • Eli Lily
  • Bayer Healthcare Pharmaceuticals
  • Alliance Medical
  • Bracco Diagnostics, Inc.
  • Aytu BioScience, Inc.
  • Curium
  • Guerbet Group
  • Lantheus Medical Imaging, Inc.
  • Trivitron Healthcare
  • Beijing Beilu Pharmaceutical Co Ltd.

These market participants are formulating various growth strategies with continued innovations and technology improvements to sustain market competition in the imaging agents market.

Some of the recent industry developments:

  • In May 2021, Lantheus received U.S. FDA approval for PYLARIFY, a PSMA PET imaging agent for prostate cancer. PYLARIFY injection helps to visualize bone, soft tissue, and lymph node metastases in order to detect whether recurrent or advanced prostate cancer is present. This novel strategy has helped the firm to improve its overall product portfolio.
  • In May 2020, Eli Lilly and Company subsidiary Avid Radiopharmaceuticals, Inc., received U.S. FDA approval for TAUVID and AMYVID (Florbetapir F 18 Injection). This positron emission tomography (PET) imaging agent provides physicians with meaningful information on Alzheimer’s disease. This approval helped the company to strengthen its imaging agents offerings and enhanced the company’s revenue generation.

The imaging agents report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2022 to 2030, for the following segments:

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By Product Type

  • Iodinated Contrast Media
  • Gadolinium-based Contrast Media
  • Microbubble Contrast Media
  • Barium-based Contrast Media

By Application

  • Oncology
  • Cardiology
  • Gastrointestinal
  • Neurology
  • Others

By Modality

  • X-Ray
  • Computed Tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Ultrasound
  • Others

By End-use

  • Hospitals
  • Ambulatory surgical centers
  • Diagnostic & imaging centers
  • Others

The above information is provided for the following regions and countries:

By Region

  • North America 
    • U.S.
    • Canada
  • Europe 
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific 
    • Japan
    • China
    • India
    • Australia
  • Latin America 
    • Brazil
    • Mexico
  • Middle East & Africa 
    • South Africa
    • Saudi Arabia
    • UAE


Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Imaging agents market is slated to surpass USD 14.2 billion by 2030 and is anticipated to grow at a CAGR of 5% between 2022 to 2030 considering the rising number of cancer cases at the global level.

The market revenue from oncology application accounted for nearly USD 2.3 billion in 2021 and is estimated to depict substantial growth through 2030 driven by the escalating demand for colorectal cancer screening.

North America imaging agents market is slated to expand at a CAGR of 4.9% from 2022 to 2030 impelled by the increasing R&D investments & healthcare infrastructure.

Prominent players in the imaging agents market include Lantheus Medical Imaging Inc., Bayer Healthcare Pharmaceuticals, Guerbet Group, Eli Lily, Bracco Diagnostics, Inc., GE Healthcare, Alliance Medical, Beijing Beilu Pharmaceutical Co. Ltd., Alliance Medical, Aytu Bioscience, Inc., and others.

Imaging Agents Market Scope

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 11
  • Tables & Figures: 245
  • Countries covered: 16
  • Pages: 195
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