The Canada contrast media market size was estimated at USD 187.60 million in 2023 and is projected to grow at a CAGR of 7.2% from 2024 to 2030. Contrast media are agents used in medical imaging to enhance the visibility of internal body structures. They are crucial in diagnostic procedures such as X-rays, CT scans, MRIs, and ultrasounds. In Canada, the market for these substances is driven by increasing demand for advanced diagnostic imaging, the rising prevalence of chronic diseases, and a growing aging population.
According to the Canadian Cancer Society's 2024 report, researchers anticipated 88,100 cancer-related deaths and 247,100 new cancer cases in Canada for 2024. They projected that each day in 2024, approximately 675 Canadians would be diagnosed with cancer, and 241 Canadians would succumb to the disease. Technological advancements in imaging techniques and introducing novel contrast agents further propel the market. In addition, government initiatives aimed at improving healthcare infrastructure and accessibility contribute significantly to market expansion. With healthcare facilities increasingly adopting advanced imaging modalities, the demand for contrast media is set to rise steadily, ensuring robust market growth over the coming years.
Technological advancements play a pivotal role in the market growth. Developing new contrast agents that are more effective and safer for patients is a significant driver. For instance, the advent of microbubble contrast agents has enhanced ultrasound imaging, while gadolinium-based agents have improved MRI diagnostics. These innovations facilitate better image clarity and diagnostic accuracy, critical in early disease detection and treatment planning.
Furthermore, advancements in imaging technology, such as high-resolution and 3D imaging, require high-quality contrast media to achieve optimal results. For instance, in March 2024, Applied Pharmaceutical Innovation (API) and Voyageur Pharmaceuticals Ltd. entered into a Master Services Agreement (MSA). This collaboration is poised to significantly boost both organizations' dedication to innovation and bolster Canada's life sciences sector. The strategic partnership aims to expedite Voyageur's imaging contrast medium's development, production, and commercialization. Integrating artificial intelligence (AI) in imaging processes also supports advanced contrast media, enabling more precise and efficient diagnoses. As technology evolves, the Canadian market will likely see the introduction of even more sophisticated contrast agents, further driving market growth.
In addition, government initiatives and healthcare policies significantly impact the market in Canada. The Canadian government has been actively investing in the healthcare sector to enhance the quality and accessibility of medical services. Policies to reduce diagnostic wait times and improve patient outcomes directly influence the demand for advanced imaging modalities and contrast media. Programs such as the Canadian Institutes of Health Research (CIHR) funding and provincial healthcare funding initiatives support the adoption of cutting-edge medical technologies, including advanced contrast agents.
Furthermore, regulatory frameworks ensure the safety and efficacy of contrast media, promoting trust and widespread use among healthcare professionals. As the government continues prioritizing healthcare improvements and technological advancements, the market is expected to benefit from increased investment and supportive policies. For instance, in January 2023, Bayer AG announced that its iodine-based contrast agents, Ultravist-300 and Ultravist-370, were approved for contrast-enhanced mammography (CEM) in the European Union. Regulatory agencies worldwide are establishing guidelines to ensure Canada's contrast media therapies' safety, efficacy, and ethical use. Streamlined approval processes and clearer regulatory pathways encourage commercialization and market expansion investment, facilitating patient access to advanced treatment options.
According to the Canadian Cancer Society's 2024 report, researchers anticipated 88,100 cancer-related deaths and 247,100 new cancer cases in Canada for 2024. They projected that each day in 2024, approximately 675 Canadians would be diagnosed with cancer, and 241 Canadians would succumb to the disease. Technological advancements in imaging techniques and introducing novel contrast agents further propel the market. In addition, government initiatives aimed at improving healthcare infrastructure and accessibility contribute significantly to market expansion. With healthcare facilities increasingly adopting advanced imaging modalities, the demand for contrast media is set to rise steadily, ensuring robust market growth over the coming years.
Technological advancements play a pivotal role in the market growth. Developing new contrast agents that are more effective and safer for patients is a significant driver. For instance, the advent of microbubble contrast agents has enhanced ultrasound imaging, while gadolinium-based agents have improved MRI diagnostics. These innovations facilitate better image clarity and diagnostic accuracy, critical in early disease detection and treatment planning.
Furthermore, advancements in imaging technology, such as high-resolution and 3D imaging, require high-quality contrast media to achieve optimal results. For instance, in March 2024, Applied Pharmaceutical Innovation (API) and Voyageur Pharmaceuticals Ltd. entered into a Master Services Agreement (MSA). This collaboration is poised to significantly boost both organizations' dedication to innovation and bolster Canada's life sciences sector. The strategic partnership aims to expedite Voyageur's imaging contrast medium's development, production, and commercialization. Integrating artificial intelligence (AI) in imaging processes also supports advanced contrast media, enabling more precise and efficient diagnoses. As technology evolves, the Canadian market will likely see the introduction of even more sophisticated contrast agents, further driving market growth.
In addition, government initiatives and healthcare policies significantly impact the market in Canada. The Canadian government has been actively investing in the healthcare sector to enhance the quality and accessibility of medical services. Policies to reduce diagnostic wait times and improve patient outcomes directly influence the demand for advanced imaging modalities and contrast media. Programs such as the Canadian Institutes of Health Research (CIHR) funding and provincial healthcare funding initiatives support the adoption of cutting-edge medical technologies, including advanced contrast agents.
Furthermore, regulatory frameworks ensure the safety and efficacy of contrast media, promoting trust and widespread use among healthcare professionals. As the government continues prioritizing healthcare improvements and technological advancements, the market is expected to benefit from increased investment and supportive policies. For instance, in January 2023, Bayer AG announced that its iodine-based contrast agents, Ultravist-300 and Ultravist-370, were approved for contrast-enhanced mammography (CEM) in the European Union. Regulatory agencies worldwide are establishing guidelines to ensure Canada's contrast media therapies' safety, efficacy, and ethical use. Streamlined approval processes and clearer regulatory pathways encourage commercialization and market expansion investment, facilitating patient access to advanced treatment options.
Canada Contrast Media Market Report Segmentation
This report forecasts revenue growth at the country level and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, the publisher has segmented the Canada contrast media market report based on modality, product, route of administration, application, and end use:- Modality Outlook (Revenue, USD Million, 2018 - 2030)
- Ultrasound
- Magnetic Resonance Imaging
- X-ray/Computed Tomography
- Product Outlook (Revenue, USD Million, 2018 - 2030)
- Microbubble
- Gadolinium-Based
- Iodinated
- Iodixanol
- Iohexol
- Iopamidol
- Others
- Barium-Based
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Cardiovascular Disorders
- Neurological Disorders
- Gastrointestinal Disorders
- Cancer
- Nephrological Disorders
- Musculoskeletal Disorders
- Others
- Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)
- Intravenous
- Oral Route
- Rectal Route
- End Use Outlook (Revenue, USD Million, 2018 - 2030¬)
- Hospitals
- Private Clinics
- Others
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Canada Contrast Media Market Variables, Trends & Scope
Chapter 4. Canada Contrast Media Market: Modality Estimates & Trend Analysis
Chapter 5. Canada Contrast Media Market: Product Estimates & Trend Analysis
Chapter 6. Canada Contrast Media Market: Application Estimates & Trend Analysis
Chapter 7. Canada Contrast Media Market: Route of Administration Estimates & Trend Analysis
Chapter 8. Canada Contrast Media Market: End Use Estimates & Trend Analysis
Chapter 9. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Voyageur Pharmaceuticals, Ltd
- Bayer AG
- Bracco
- GE HealthCare
- Guerbet
- Lantheus Medical Imaging, Inc.
- Grupo Juste
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 187.6 Million |
| Forecasted Market Value ( USD | $ 300.15 Million |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Canada |
| No. of Companies Mentioned | 7 |
