Microbubbles/Ultrasound Contrast Agents Market by Application (Diagnostic Imaging [Cardiovascular, Renal, Abdominal, Breast] Therapeutics) Type (Lipid, Protein, Polymer) End User (Hospitals & Clinics, Diagnostics Laboratories) - Global Forecast to 2030

The Microbubbles/Ultrasound Contrast Agents Market is projected to reach $1.95 billion by 2030, at a CAGR of 15.2% from 2023 to 2030.

Microbubbles are gas-filled microspheres of lipid, protein, and polymer shells. They are used as blood-pool agents in radiology and cardiology and have targeted agents for molecular imaging. Microbubbles can act as therapeutic agents and echo-enhancers.

The growing aging population, coupled with the rising prevalence of chronic diseases, technological advancements in ultrasound imaging, high demand for image & diagnostics-guided procedures, and favorable reimbursement policies for contrast-enhanced ultrasonography, are driving the growth of this market. However, the complexity involved in contrast-enhanced ultrasound (CEUS) is expected to restrain the market. In addition, increasing microbubbles/ultrasound contrast agents-related research activities will offer growth opportunities for the market growth. However, the lack of skilled professionals is a major challenge for market growth.

Technological Advances in Ultrasound Imaging to Drive the Demand for Microbubbles/Ultrasound Contrast Agents

Ultrasound imaging has tremendously advanced significantly in recent years, leading to improved image quality, the development of new technologies, and increased automation. These advancements have improved patients’ experiences and made diagnostics more precise.

Recent advances in ultrasound imaging include image quality improvements, in which ultrasound is now used in interventional procedures dominated by computed tomography (CT) and magnetic resonance imaging (MRI). Further, volumetric ultrasound technology has been under development for several years. It can be used to detect tumors, analyze cardiac function as well as create images with more depth than traditional sonograms. These ultrasounds can make diagnosis easier and more effective in some instances.

Further, newer technologies are set to transform the ultrasound practice. Sonoelastography has been in development for the past two decades. It utilizes the same machine which does b-mode ultrasound to measure tissue stiffness. Another development is the utilization of ultrasound contrast agents. CEUS has been available in China, Europe, Australia, and Canada for many years however has not been available in the U.S. outside of echocardiography. This contrast-enhanced ultrasound allows more sensitivity for tumor detection, enabling ultrasound to expand multiple functions performed by MRI and CT.

Additionally, healthcare reform plays an important role in the broad-level adoption of ultrasound technology; With the current use of CT and MRI, healthcare reform favors the more widespread adoption of ultrasound, as it costs less than MRI and CT.

Thus, these technological advancements in ultrasound imaging have led to enhanced diagnostics capabilities and better patient outcomes.

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Favorable Reimbursement Policies for Contrast-Enhanced Procedures to Drive the Demand for Microbubbles/Ultrasound Contrast Agents

In recent years, the usage of ultrasound contrast imaging for clinical applications has increased. Ultrasound contrast imaging is preferable for healthcare professionals due to real-time capability, low cost, and convenience. Further, ultrasound imaging offers good quantitative data, temporal resolution, portability, less ionizing radiation, and non-invasiveness compared to other imaging modalities.

Furthermore, in the U.S., Medicare reimburses film and digital contrast-enhanced mammography procedures. Also, The Centers for Medicare and Services (CMS) established the National Correct Coding Initiative (NCCI) program to promote the correct coding of services. Further, The National Correct Coding Initiative (NCCI) Policy Manual gives certain coding policies for Medicare, including those related to contrast-enhanced procedures.

Thus, reimbursement policies for contrast-enhanced procedures vary depending on the procedure and insurance provider. It is very important to consult the relevant guidelines as well as policies to ensure proper coding and billing.

Key Findings in the Microbubbles/Ultrasound Contrast Agents Market Study:

In 2023, The Lipid Microbubbles Segment to Account for the Largest Share of the Microbubbles/Ultrasound Contrast Agents Market

Based on type, the microbubbles/ultrasound contrast agents market is segmented into lipid microbubbles, protein microbubbles, and polymer microbubbles. In 2023, the lipid microbubbles segment is expected to account for the largest share of the microbubbles/ultrasound contrast agents market. The lipid-based microbubbles are formulations used for drug delivery and biomedical imaging. Factors such as pressure resistance, more stability and flexibility, and less damage to the human body support the large market share of the segment. Furthermore, there are several commercial lipid-based microbubbles formulations approved for clinical use in the U.S., such as DEFINITY, an ultrasound contrast imaging agent (Lantheus Holdings, Inc.), and SonoVue, a second-generation ultrasound contrast agent (Bracco S.p.A.). Thus, the high preference for lipid-based microbubbles and the presence of several lipid-based microbubbles in the market support the largest share of the market.

In 2023, The Diagnostic Imaging Segment to Account for the Largest Share of the Microbubbles/Ultrasound Contrast Agents Market

Based on the application, the microbubbles/ultrasound contrast agents market is segmented into diagnostic imaging and therapeutic applications. The diagnostics imaging segment is further divided into cardiovascular imaging, renal imaging, abdominal imaging, and breast imaging. In 2023, the diagnostic imaging segment is expected to account for the largest share of the microbubbles/ultrasound contrast agents market. The large market share of this segment is attributed to the increase in awareness regarding the early diagnosis of diseases, technological advancements in diagnostic imaging, and the wide scope of the use of ultrasound devices for diagnostic applications.

In 2023, The Hospitals/Clinics Segment to Account for the Largest Share of the Microbubbles/Ultrasound Contrast Agents Market

Based on end user, in 2023, the hospitals & clinics segment is expected to account for the largest share of the microbubbles/ultrasound contrast agents market. Hospitals & clinics are preliminary healthcare facilities. The large market share of this segment is attributed to increased hospitalizations due to various diseases and the high disease burden in the geriatric population requiring ultrasound for diagnostic and therapeutic purposes.

North America to Dominate the Market in 2023

In 2023, North America is expected to account for the largest share of the microbubbles/ultrasound contrast agents market. The key factors contributing to this large market share are the high burden of the geriatric population, availability & accessibility of well-equipped systems, advanced healthcare infrastructure, increasing technological developments in hospitals, as well as the presence of skilled professionals at hospitals; thus, patients can access better treatment.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants in the past few years. The key players profiled in the microbubbles/ultrasound contrast agents market report are Lantheus Holdings, Inc. (U.S.), GE HealthCare Technologies Inc. (U.S.), Bracco S.p.A. (Italy), Bristol-Myers Squibb Company (U.S.), Daiichi Sankyo Company, Limited (Japan), nanoPET Pharma GmbH (Germany), Leriva (Greece), Siemens Healthineers AG (Germany), Bayer AG (Germany), and Fujifilm Holdings Corporation (Japan).

Scope of the Report:

Microbubbles/Ultrasound Contrast Agents Market Assessment, by Type

• Lipid Microbubbles
• Protein Microbubbles
• Polymer Microbubbles

Microbubbles/Ultrasound Contrast Agents Market Assessment, by Application

• Diagnostics Imaging
  • Cardiovascular Imaging
  • Renal Imaging
  • Abdominal Imaging
  • Breast Imaging
  • Other Diagnostics Imaging Applications
• Therapeutics Applications
  (Note: Other diagnostics imaging applications include cancer and ocular)

Microbubbles/Ultrasound Contrast Agents Market Assessment, by End User

• Hospitals & Clinics
• Diagnostics Laboratories
• Other End Users
  (Note: Other end users include pharmaceutical & biotech companies and research & academic institutes)

Microbubbles/Ultrasound Contrast Agents Market Assessment, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

Key questions answered in the report: