Increasing focus on the use of medical imaging for early identification of disease is helping the worldwide contrast agent market survive the downturn that's been affecting imaging equipment sales, Global Industry Analysts has reported.
Though the global recession had significantly affected the imaging equipment market, with a marked slowdown in capital equipment purchasing, the impact on the contrast agent market has been less severe, according to the market research report.
Demand for contrast is in sync with diagnosis and management of age-related diseases, including cancer, cardiovascular disease, and neurological disease. In addition, with an expansion of imaging modalities in new clinical applications and technological advancements, the contrast market is expected to recover quickly and achieve significant growth rates.
Reimbursement issues and procedure volume are two key factors that can significantly influence market dynamics, the report noted, while increasing concerns over radiation exposure has prompted the development of faster scanners for imaging, which, in turn, exacerbates the need for faster contrast media injectors.
The U.S. continues to represent the largest imaging agent market worldwide.
