Ioversol Market Trends in 2020, Industry Share, Size Analysis, Growth Insights, Opportunities, Business Forecast by 2026 | Exclusive Reportage by CMI
Ioversol is a radiopaque (RAY dee oh payk) contrast agent, that contain iodine. The contrast agent offers a clear vision of blood vessels, organs, and other non-bony tissues on CT scan or other radiologic (x-ray) examination. It is injected into an artery or vein through an IV (Intravenous) and its application has expanded into magnetic resonance imaging and ultrasound scattering as well. Ioversol is also used for the treatment, control, prevention and improvement of heart disorders, brain disorders and blood vessel disorders. CMI predicts the global ioversal market to grow at a healthy growth rate over the forecast period owing to rising demand for ioversol among consumers and healthcare industry.
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The market for ioversol is mainly driven by the rapidly growing imaging and x-ray market coupled with the rising prevalence of cardiovascular disorders. Moreover, bone-related challenges and diseases, rising accidents and kidney-related problems are some of the other key drivers fueling market growth. On the other hand, side-effects such as allergic reaction by use of ioversol, swelling, difficulty in breathing, rapid weight gain, joint pain or stiffness, muscle pain or weakness, nausea, sweating, etc. are expected to hamper the market growth. Whereas, advancements in computed tomography (CT) technology are projected to offer lucrative growth opportunities for market growth over the forecast period.
Ioversol Market Taxonomy
Based on the type, the global Ioversol market is segmented into the following:
- Ioversol 34% Injectable Solution (Optiray 160)
- Ioversol 51% Injectable Solution (Optiray 240)
- Ioversol 64% Injectable Solution (Optiray 300)
- Ioversol 68% Injectable Solution (Optiray 320)
- Ioversol 74% Injectable Solution (Optiray 350)
Based on packaging, the market is segmented into:
- Hand-held syringes
- Power-injector syringes
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Ioversol 64% Injectable Solution, made from 636 mg of ioversol with 3.6 mg of tromethamine as a buffer and 0.2 mg of calcium disodium as a stabilizer, is the most commonly used ioversol type primarily owing to the high scope of application, ease of use and low cost.
Based on the application, the x-ray segment is forecast to grow at the fastest rate over the forecast period owing to the rising demand for ioversol in angiography, tomography, urography, and others.
Asia Pacific is expected to be the most lucrative region for the key players
Based on geography, the global ioversol market is segmented into North America, Latin America, Europe, Middle East, Asia-Pacific, and Africa. Asia-Pacific region is expected to witness significant growth on the account of growing spending bu pharmaceutical industry, rising awareness regarding the use of ioversol and the growing population base rate. North America is currently the second-largest market for ioversol and is expected to grow at an above-average growth rate over the forecast period. Europe is expected to showcase a sluggish growth during the forecast period owing to the maturing pharmaceutical industry.
The key players profiled in the global 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., and various others. Major players in the market are focused on product launches and organic growth by means of mergers and acquisitions.
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