MRI Contrast Media Market Revenue was valued at USD 4.5 Billion in 2024 and is estimated to reach USD 7.2 Billion by 2033, growing at a CAGR of 6.5% from 2026 to 2033.
The MRI Contrast Media Market in South Korea is experiencing significant growth, driven by technological advancements and increasing healthcare needs. In 2023, the market was valued at approximately USD 47.5 million and is projected to reach USD 82.4 million by 2030, growing at a CAGR of 8.2%.
Key Product Types:
Paramagnetic Agents: These agents, particularly gadolinium-based, are the most widely used due to their effectiveness in enhancing image quality. They accounted for the largest revenue share in 2023 and are expected to continue leading the market.
Superparamagnetic Agents: Although less common, these agents are gaining attention for specific applications, such as liver imaging, due to their unique magnetic properties.
Industry Requirements:
Safety and Efficacy: Following the 2018 ban on certain linear gadolinium-based agents by the South Korean Ministry of Food and Drug Safety, there is a heightened focus on developing safer contrast media with minimal side effects.
Advanced Imaging Needs: The rise in chronic diseases like cancer and neurological disorders necessitates high-quality imaging solutions, increasing the demand for effective contrast agents.
Regulatory Compliance: Manufacturers must navigate stringent regulatory landscapes to ensure product approval and market entry, emphasizing the need for robust clinical data and safety profiles.
Market Dynamics:
Healthcare Infrastructure: South Korea's well-established healthcare system and high MRI availability (27.8 units per million people) support the growing use of contrast media.
Research and Development: Ongoing research, including studies linking genetics to contrast agent reactions, is expected to lead to more personalized and safer imaging solutions.
Key Players: Companies like GE HealthCare Technologies, Bayer AG, and Bracco Imaging are actively contributing to market growth through innovation and strategic partnerships.
As the demand for precise diagnostic tools increases, the MRI Contrast Media Market in South Korea is poised for continued expansion, with a focus on safety, efficacy, and technological advancement.
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GE
Bayer
Bracco Imaging
Guerbet Group
Hengrui Medicine
Lantheus
YRPG
BeiLu Pharma
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea MRI Contrast Media Market
Gadolinium-based Contrast Agents (GBCA)
Iron Oxide-based Contrast Agents
Ferumoxytol
Other Specialized Contrast Agents
Oncology
Neurology
Cardiovascular Imaging
Musculoskeletal Imaging
Gastrointestinal Imaging
Intravenous Administration
Intra-arterial Administration
Oral Administration
Other Routes of Administration
Hospitals
Diagnostic Imaging Centers
Outpatient Surgical Centers
Research Institutions
Direct Sales
Distributors and Wholesalers
Online Sales Platforms
Retail Pharmacies
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea MRI Contrast Media Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea MRI Contrast Media Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea MRI Contrast Media Market, By Type
6. South Korea MRI Contrast Media Market, By Application
7. South Korea MRI Contrast Media Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea MRI Contrast Media Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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