GVR Report cover MRI Contrast Media Agents Market Size, Share & Trends Report

MRI Contrast Media Agents Market Size, Share & Trends Analysis Report By Product (Paramagnetic Agents, Superparamagnetic Agents), By Application, By End-use, By Type, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-973-0
  • Number of Pages: 110
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Report Overview

The global MRI contrast media agents market size was valued at USD 1.98 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.15% from 2023 to 2030. MRI contrast media agents are widely used to identify the presence of tumors, aneurysms, and other tissue abnormalities. This market holds a high growth potential due to the enormous research and development in this space to develop contrast media agents with reduced ill effects, minimized the occurrence of adverse reactions, minimal dosing, and improve imaging efficacy.

U.K. MRI contrast media agents market size, by product, 2020 - 2030 (USD Million)

These agents have the dynamics to identify the progressions of brain tumor, liver cancer, or breast cancer and establish improved guidance during surgical intervention. Contrast media-enhanced MRI procedures are likely to increase in the future as the application of MRI expands and as the information obtained from a single contrast injection increases. However, variation in practice by end-users, calls for greater standardization of protocols and utilization of the latest diagnostic algorithms.

There has been a significant increase in participation in sports in the last decade. Thus, the incidence of sports injuries is rapidly increasing. For instance, as per Johns Hopkins Medicine, around 30.0 million children & teens participate in sports and around 3.5 million sports injuries occur every year. Similarly, as per the Association for Safe International Road Travel, around 20 to 50 million people are injured or disabled due to road accidents. Thus, a surge in the number of sports and trauma injuries is boosting the demand for MRI contrast media agents.

Product Insights

Based on product, the market is segmented into paramagnetic agents and superparamagnetic agents. The primary class of paramagnetic contrast agents is gadolinium-based contrast agents. Others include ferric ammonium citrate and manganese-based contrast agents. Gadolinium agents are the only ones that have grown into a realistic market size.

These elements shorten the T1 or T2 relaxation time, thereby causing increased signal intensity on T1-weighted images or reduced signal intensity on T2-weighted images. Most paramagnetic contrast agents are positive agents. These agents shorten the T1, so the enhanced parts appear bright on T1-weighted images. Ferumoxides, ferucarbotran, ferumoxtran-10, iron oxide-based agents, and many others are examples of this category. The highly researched superparamagnetic agent includes Superparamagnetic Iron Oxide Nanoparticles (SPIONs). However, they hold the disadvantage of being easily uptaken by macrophages.

End-use Insights

Hospitals accounted for the largest market share in 2022. Hospitals are the go-to centers for all patients seeking major diagnostic tests. All chronic illnesses are treated in hospitals, which explains their high market share. Additionally, the number of research activities conducted by hospitals and the economy and infrastructure needed to buy and store these agents, are only available at the hospital end. Thus, they account for the larger market size.

The imaging centers segment is expected to experience the fastest growth rate during the forecast period. Growing demand for non-invasive diagnosis is encouraging the emergence of numerous specialized facilities that may offer services like MRI. These centers are constantly looking to adopt high-end and exceptional-quality MRI and contrast agents to improve their customer base. Thus, it is anticipated to drive the segment growth in the projected period.

Type Insights

MRI contrast agents are further segmented into the clinical and preclinical markets, where clinical accounted for the largest revenue share in 2022. Many contrast agents have been created for use in clinical practice over the past three decades, and some of them have been removed due to safety issues. Contrast MRI agents are divided into a number of classes, based on factors such as chemical makeup, magnetic field, route of administration, presence of metal atoms, characteristics, picture-related effects, biodistribution, and more. There are constant variations in the clinical compositions, action mechanisms, safety, pharmacokinetics, and pharmacodynamics.

Numerous studies are taking place to develop newer contrast agents. For instance, in 2021, the U.S. Food and Drug Administration approved the first human clinical trials to test the safety of cancer-detection technology developed at Case Western Reserve University. It is a tumor-targeting contrast agent that accurately detects aggressive prostate cancer in a magnetic resonance imaging (MRI) scan. Numerous companies are developing MRI contrast agents that are still in the preclinical trial phase. Some of them include Reveal Pharma and Miltenyi Biotec B.V. & Co. Kg.

Application Insights

Based on application, the MRI contrast media agents industry is segmented into gastrointestinal, intravenous, hepatobiliary, neurological imaging, and others. MRI systems used for neurological imaging held the largest market share in 2022 as scans produced were of superior quality than those by computerized tomography scans. The primary aim of these contrast agents is to identify target organs and specific tissues. Most gadolinium and ferumoxides agents, enhance and showcase the physiochemical effects of liver.

Global MRI contrast media agents market share, by application, 2022 (%)

Nearly 30 million MRI scans are conducted yearly in the U.S. Studies suggest that gadoxetic acid-enhanced liver MRI is an evolving technique with the potential for non-invasive quantification of liver function and staging of hepatic fibrosis. Gastrointestinal MRI contrast agents may be helpful in certain clinical scenarios in distinguishing the bowel from intra-abdominal masses and normal organs. Combinations of oil emulsion and paramagnetic substances may be used as bowel contrast agents. These ludes an emulsion-containing corn oil and ferric ammonium citrate. These are palatable mixtures that distribute uniformly in the bowel. 

Regional Insights

North America dominated the global market in 2022 with a revenue share of over 36.31%. The increasing incidence of chronic diseases in this region, which includes breast cancer, cardiology, and neurological diseases is creating a demand for imaging analysis. The region is expected to maintain its dominance throughout the forecast period. Technological innovations coupled with the growing incidence of chronic conditions are anticipated to spur growth during the forecast period.

MRI Contrast Media Agents Market Trends by Region, 2023 - 2030

Asia Pacific is expected to exhibit the fastest CAGR during the forecast period due to the increasing geriatric population and growing demand for advanced imaging modalities. Moreover, the growing medical tourism industry in Asian countries is anticipated to augment the advanced medical imaging industry’s growth during the forecast period. Countries such as India, China, and Japan are creating growth opportunities with rapidly expanding healthcare service industry, the presence of skilled healthcare staff, and advanced healthcare facilities and services at a lower cost than developed countries.

Key Companies & Market Share Insights

The key players are focusing on getting various regulatory agencies approvals for expanding their product portfolio of MRI contrast agents around the world. For instance,

  • Bayer AG in July 2019, announced the FDA approval of Gadavist. It is a gadobutrol contrast agent for cardiac MRI for the detection and monitoring of coronary artery disease.

  • In November 2019, GE Healthcare announced the FDA approval of their MRI contrast agent Clariscan. It is a gadolinium-based, macrocyclic, contrast agent used to visualize the disruption of the blood-brain barrier or any abnormality in both adult and pediatric patients.

Some prominent players in the global MRI contrast media agent market include:

  • GE Healthcare

  • Bayer AG

  • Guerbet GmbH

  • Bracco Imaging Spa

  • Vitalquan, LLC

  • Miltenyi Biotec B.V. & Co. Kg

MRI Contrast Media Agents Market Report Scope

Report Attribute


Market size value in 2023

USD 2.11 billion

Revenue forecast in 2030

USD 3.42 billion

Growth Rate

CAGR of 7.15% from 2023 To 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, type, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; Italy; France; Spain; Norway; Sweden; Denmark; China; India; Japan; South Korea; Thailand; Australia; Mexico; Brazil; Argentina; Saudi Arabia; South Africa; UAE; Kuwait

Key companies profiled

GE Healthcare; Bayer AG; Guerbet GmbH; Bracco Imaging Spa; Vitalquan, LLC; Miltenyi Biotec B.V. & Co. Kg

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global MRI Contrast Media Agents Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global MRI contrast media agents market report based on product, type, application, end-use, and region:

  • Product Outlook (Revenue, USD Million, 2018 - 2030)

    • Paramagnetic Agents

    • Superparamagnetic Agents

  • Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Clinical

    • Preclinical

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Gastrointestinal,

    • Intravenous

    • Hepatobiliary

    • Neurological Imaging

    • Others

  • End-use Outlook (Revenue, USD Million, 2018 - 2030)

    • Hospitals

    • Imaging Centers

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • Italy

      • France

      • Spain

      • Norway

      • Sweden

      • Denmark

    • Asia Pacific

      • India

      • China

      • Japan

      • South Korea

      • Australia

      • Thailand

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

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