The global Microbubbles/ultrasound contrast agents market will grow at a CAGR of 25.2% from 2018 to 2024 to reach USD 1,584.5 million by 2024, according to the latest publication from Meticulous Research®. The global microbubbles/ultrasound contrast agents market is driven by various factors such as advancement in ultrasound technologies, benefits of ultrasound over alternative technologies, increase in demand for diagnostics & image guided procedures, favorable reimbursement policies for contrast enhanced procedures in the U.S., and growing aging population and subsequent rise in the prevalence of chronic diseases. In addition, rising research activities related to microbubbles/ultrasound contrast agents and emerging economies in the Asia Pacific region provides significant opportunities for various stakeholders in this market.
Key market segments to watch
The global microbubbles/ultrasound contrast agents market studied in this report is majorly segmented on the basis of therapeutic area (cardiovascular diseases, renal and associated diseases, and others), application (molecular imaging, gene therapy, drug delivery, and stem cells delivery), and geography.
On the basis of therapeutic area, cardiovascular diseases commanded the largest share in the global microbubbles/ultrasound contrast agents market in 2017, mainly due to rising adoption of ultrasound contrast agents in echocardiography procedures with increasing prevalence of chronic cardiovascular diseases, rising mortality associated to stroke and heart attack, and need for better diagnosis technology.
On the basis of applications, molecular imaging held the largest share in the microbubbles/ultrasound contrast agents market in 2017. This was mainly attributed to rising adoption of microbubbles in various ultrasound based molecular imaging procedures for the accurate diagnosis of various diseases. In addition, increasing need for monitoring of the biomarker status of vascular endothelium, visualizing tumor vasculature, imaging inflammation and ischemia-reperfusion injury zones, and need for targeted therapies further propels the adoption of microbubbles in molecular imaging applications.
Regional market growth trends
Geographically, this market is segmented into North America, Europe, Asia Pacific, and rest of the World. North America commanded the largest share in the global microbubbles/ultrasound contrast agents market in 2017, followed by Europe and Asia-Pacific. The major share of this region is mainly attributed to the rising aging population, increasing number of chronic diseases, well-established healthcare system with wide spread chain of suppliers & distributors, higher adoption of innovative technologies, rising technological advancements in healthcare, and higher healthcare spending in the region, especially in the U.S. However, Asia pacific region is slated to register the fastest growth during the forecast period, primarily due to rising healthcare spending, improving healthcare infrastructure, rising living standards with increasing income of middle class population, growing healthcare awareness, and growing aging population and subsequently prevalence of chronic diseases in the Asian countries.
Key players in the global market
The key players in the global microbubbles/ultrasound contrast agents market are Lantheus Holdings, Inc., Bracco, GE Healthcare, Daiichi Sankyo Company, Limited, and nanoPET Pharma GmbH. These vendors employed various strategies to expand their product and application offerings, global footprint, and augment their market shares.
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