According to Future Market Insights’ most recent market study, the global market for Ioversol is expected to reach US$ 467.5 Million in 2022 and grow at a CAGR of 7.0% between 2022 and 2032.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 467.5 Million |
| Market Size 2032 | US$ 919.6 Million |
| Value CAGR (2022 to 2032) | 7.0% |
| Collective Value Share: Top 3 Countries (2022E) | 35% to 40% |
Ioversol, a non-ionic radiographic contrast agent contains Iodine Which Absorbs X-rays and is a member of the group of drugs known as radiopaque contrast agents because of its unique property. During a CT scan or X-ray examination, Ioversol improves the visibility of blood vessels, non-bony tissues, and organs. Due to its distinctiveness and versatility, its usage in magnetic resonance imaging and ultrasonic scattering has increased. Intravenous (IV) Ioversol is injected into an artery or vein. Because it mixes well with water and provides the required imaging results, Ioversol is water-soluble.
It is specifically used in computed tomography, angiography, and urography for contrast enhancement. The chemical ioversol is used as a base for both contrast media and medicines. It is a white to off-white crystalline powder with a noticeable sulfurous odour. Ioversol becomes clear and colourless when it is turned into a solution. Ioversol is also used to treat, avoid, control, and enhance heart, blood vessel, and brain problems. Due to its widespread usage, the Ioversol market is anticipated to experience rising demand from consumers and clinics.
The expanding x-ray and imaging business is the key factor driving the Ioversol market. A contrast agent that absorbs x-rays and improves image clarity is required for a flawless x-ray. The main factors driving the Ioversol market are the increase in accidents, diseases, and difficulties associated with bone, and kidney-related issues. As a result, the market for ioversol is seeing growth due to the rise in the number of patients suffering from respiratory and heart illnesses. The global expansion of the healthcare infrastructure is also boosting the market for ioversol.
From 2017 to 2021, the market for Ioversol expanded at a compound annual growth rate (CAGR) of 6.3%. The ioversol market expanded dramatically as a result of the Covid-19 outbreak's increase in hospital demand. Numerous Covid-19 side effects resulted in patient medical problems. People are subjected to several CT scans and X-rays during a pandemic to check for potential problems in the future. As a result, the market for Ioversol has seen a huge increase in demand.
The market for Ioversol is predicted to expand more swiftly than in the past. Over the anticipated timeframe, the market is expected to grow at a CAGR of 7.0%. The primary reasons anticipated to propel the expansion of the global ioversol market include elements like the expanding x-ray and imaging industry, rising cardiovascular disease and bone-related disease cases, and rising elderly population susceptible to orthopedic ailments. The worldwide ioversol market is anticipated to rise as computed tomography (CT) technology advances as well.
There has been an increase in cases of brain-related diseases in people of all ages. The brain disease can be attributed to a variety of variables, Multiple factors, including a change in lifestyle, a rise in the usage of mobile phones that emit waves, and several other causes, can be connected to brain disease.
Additionally, the senior population has seen an increase in dementia instances, which is leading to patient issues with their brains. Instances of dementia have also increased among the elderly population, which is making patients' brains worse. With 10 million new cases annually, there are projected to be 50 million dementia patients by the year 2020. Additionally, the number of people with epilepsy, a condition affecting the central nervous system and related to the brain, was expected to exceed 50 million in 2019. As a result, ioversol is more in demand on the market.
One of the key causes boosting the demand for ioversol is the rise in heart disease cases among people of all ages and genders worldwide. The World Health Organization (WHO) estimates that ischemic heart disease caused 16% of all deaths worldwide. In the year 2020, it was estimated that 8.9 million people would die from heart-related diseases. For the last 20 years, heart disease has been the leading cause of death on a global scale. The demand for contrast dye in coronary calcium scans and angioplasty procedures is growing as heart diseases become more prevalent. This is stimulating the ioversol market even more.
Ioversol has certain negative effects on people that could be harmful. Ioversol may cause further issues if it is not administered correctly. Sometimes the complications could even be fatal. Convulsions, paralysis, cerebral haemorrhage, cardiac arrest, seizures, and several other risky consequences are possible side effects. Ioversol may cause allergic reactions, respiratory problems, and facial, lip, tongue, or throat swelling. Along with these other symptoms, patients may experience light-headedness, slowed heart rate, rapid weight gain, little or no urination, extreme exhaustion, hoarseness of voice, dry skin, joint or muscle pain or weakness, increased sensitivity to cold temperatures, pressure in the chest, pain in the jaw or shoulder, sweating, nausea, sudden numbness or weakness, slurred speech, sudden severe headache, and issues with vision or balance.
As a result, it must only be administered by qualified and experienced specialists, and difficulties could still arise. As a result, this is one of the main obstacles preventing the ioversol market from expanding.
Radiographic and diagnostic examinations hold a significant share of the ioversol market. Radiological and diagnostic tests are carried out utilizing a range of methods and techniques for various medical conditions and diseases. Diagnostic radiocontrast materials are employed during MRI scans, coronary calcium scoring, and other procedures. Over 1.3 million people die globally each year due to traffic accidents, according to the World Health Organization (WHO). Most countries experience a 3% loss in GNP as a result of traffic accidents. As a result, there is a higher chance of traumatic brain injuries, which will increase the requirement for ioversol.
The market for Ioversol was dominated by the power Injector Syringes sector. An FDA-approved tubing set called Power Injector Syringes is utilized in CT and MRI procedures. Syringes for power injectors are inexpensive and simple to use. The demand for power injector syringes in the ioversol market is rising as a result of the increased necessity to provide contrast dye to patients. The power injector devices make it simple to store and provide the patient with the diagnostic radiocontrast agent or contrast dye solution. As a result, it is pushing the market for ioversol power injector systems.
The Ioversol market is primarily driven by the expansion of the American healthcare and medical systems. The National Health Expenditure Account (NHEA) reports that US healthcare spending increased by 4.6% in 2019 to reach US11,583 per person.
The leading cause of mortality for men, women, and members of the majority of racial and ethnic groups in the United States is heart disease, according to the Centers for Disease Control and Prevention. About 655,000 Americans lose their lives to heart disease each year, accounting for 1 in every 4 fatalities, according to the American Heart Association's report, Heart disease and stroke statistics 2020 update. These variables collectively are fueling the US Ioversol Market.
Market participants are spending globally to improve their Ioversol production capacity to meet the growing needs of end consumers. The numerous technological innovations and the increasing growth attempts of the top competitors through strategic alliances, Mergers, and agreements have opened up a wide range of market prospects. Further, participants are exerting great effort to create and launch cutting-edge technological innovations to stay ahead of the competition. All of these developments imply that the Ioversol market will have enormous growth potential internationally in the years to come.
For Instance:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.0% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million for Value, Volume in Tons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Packaging, Application, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN Countries, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Companies Profiled | Liebel-Flarsheim Company LLC; Guerbet; Jiangsu Hengrui Medicine Co.; Mallinckrodt Pharmaceuticals; Ultraject; China Resources Pharmaceutical Co.; HB Ocean; Changzhou Highassay Chemical Co., Ltd.; Novalek Pharmaceuticals Pvt. Ltd; Stellence Pharmscience Pvt. Ltd.4; A.S. Joshi & Company |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global Ioversol market reached over US$ 467.5 Mn.
During the forecast period, the global Ioversol market is estimated to expand at a CAGR of 7.0% during 2022-2032.
The global Ioversol market is projected to reach US$ 919.6 Mn by the end of 2032.
The key players operating in the Ioversol market are Liebel-Flarsheim Company LLC, Guerbet, Jiangsu Hengrui Medicine Co., Mallinckrodt Pharmaceuticals, Ultraject, China Resources Pharmaceutical Co., HB Ocean, Changzhou Highassay Chemical Co., Ltd., Novalek Pharmaceuticals Pvt. Ltd, Stellence Pharmscience Pvt. Ltd., A.S. Joshi & Company and various others.
Ioversol Market
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