In terms of revenue, the global contrast enhanced ultrasound market was valued at $1698.22 million in 2021, and is expected to reach $2689.20 million by 2030, growing at a CAGR of 5.25% during the forecast period, 2022-2030.

Contrast enhanced ultrasound (CEUS) is a diagnostic technique that uses ultrasound contrast agents and improves the characterization and visualization of anatomic structures and lesions. Although it can be administered intraoperatively, the transcutaneous application is the most common method. Ultrasound contrast agents in the form of microbubbles consist of gas bubbles equilibrated by a shell and are up to 1 to 10 microns in size, allowing both microvasculature and macrovasculature visualization.

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The most widely used ones are perfluorobutane along with phospholipid shell like Sonazoid, perfluoropropane and octafluoropropane along with outer lipid shell (Definity®), and sulfur hexafluoride along with phospholipid shell (SonoVue/Lumason). The Food and Drug Administration (FDA) recently authorized the contrast agent Lumason (sulfur hexafluoride lipid microspheres) for imaging the liver in adult and pediatric patients. Only a minuscule amount of contrast agent (usually 1 to 2 mL) is needed since ultrasonography contrast agents stay in the vascular space.

Key growth drivers of the global contrast enhanced ultrasound market are:

• Surging prevalence of chronic diseases
• Health practitioners prefer contrast enhanced ultrasound imaging
  • Contrast enhanced ultrasonography (CEUS) is a radiation-free imaging modality suitable for pediatric patients, delivers informative results, has a high safety level, and is portable and less expensive than alternative methods.
  • In order to give patients more access to affordable, secure, and reliable diagnostic imaging, ultrasound experts have also pushed the medical community to adopt the use of ultrasonic contrast agents (UCAs).
  • A 2019 study by the International Contrast Ultrasound Society (ICUS) found that UCAs prevented 32.8% of patients from requiring additional redundant downstream testing, saving $122 per patient.
• Technological advancements in diagnosis

Key market growth restraining factors are:

• Non-uniformity of contrast agents
• Difficulty in adoption in the current healthcare system
  • Despite the clinical benefits of contrast enhanced ultrasonography, adoption in present healthcare systems worldwide is hindered by a number of factors.
  • Few doctors have experience in noncardiac contrast enhanced ultrasonography because it is primarily used for cardiovascular diagnostics. However, medical organizations and professional communities continue to offer more training possibilities.
  • Another impediment is the consistent terminologies and classification criteria.

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• New, cutting-edge developments in the contrast enhanced ultrasound market encompass the creation of novel pulse sequences and image processing methods, developing devices, and creating remote monitoring for ultrasonic therapies.
• In addition to detecting active bleeding sites and hematomas in patients with abdominal trauma, contrast enhanced ultrasounds also prevent exposure to ionizing radiation and allow monitoring of patients receiving conservative treatment.
• Targeted drug delivery into artery walls and thrombi, as well as its use for targeted drug therapy in the delivery of chemotherapeutic drugs, are some of the therapeutic applications of contrast enhanced ultrasound imaging currently being researched.

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Market Segmentation – Product, Type, and End-User –

Market by Product:

• Equipment
• Contrast Agent
  • Contrast agent is the fastest-growing product in the market. Contrast agents find application in clinical and scientific activities and are commonly used for left ventricular opacification and endocardial border definition during echocardiography.
  • Additionally, contrast agents are being utilized more frequently to distinguish between liver lesions and examine the breast’s microvasculature. Also, by preventing unnecessary surgeries and biopsies, the use of contrast agents to distinguish between benign and malignant liver tumors eventually reduces costs.
  • Besides, the introduction of second-generation contrast agents with increased stability, contrast, and biocompatibility will propel the growth of the studied market.

Market by Type:

• Non-Targeted
  • Non-targeted is the highest revenue-generating type. It is a major constituent of commercially available products. It includes gadolinium (Gd) agents that are both extracellular and non-targeted.
  • It is commonly employed in organ perfusion, and to evaluate the vascularity of a target lesion (liver or kidney) commonly seen during liver cirrhosis and cancer illnesses.
  • Since excessive alcohol consumption leads to liver cirrhosis, the demand for non-targeted ultrasound contrast agents is predicted to increase with the changing demographics of alcohol consumption globally.
• Targeted

Market by End-User:

• Hospitals
• Clinics
• Ambulatory Diagnostic Centers

Geographical Study based on Four Major Regions:

• North America: The United States and Canada
• Europe: The United Kingdom, Germany, France, Italy, Spain, Nordic Countries, and Rest of Europe
• Asia-Pacific: China, Japan, India, South Korea, Indonesia, Singapore, Taiwan, Australia & New Zealand, and Rest of Asia-Pacific
  • The Asia-Pacific is expected to be the most dynamic regional market owing to rapid improvement in healthcare expenditure, especially in countries such as India and China, and the macroeconomic socioeconomic factors such as the government’s regulatory role, income inequality, urbanization, and globalization.
  • A lack of well-organized compensation policies and the region’s growing price-sensitive populations are anticipated to increase the demand for low-cost procedures like contrast enhanced ultrasound imaging. However, the lack of skilled labor in remote areas challenges market growth.
  • China had the highest market share of 27.97% in 2021, attributed to the development of the private healthcare sector and shifting demographics and illness trends. Moreover, COVID-19 has been significant in enabling the incorporation of contrast enhanced ultrasound technology in point-of-care diagnostics.
  • Furthermore, in India, domestic healthcare providers are collaborating with international market players to penetrate large markets, and carry out marketing, distribution, and production activities accordingly.
• Rest of World: Latin America, Middle East & Africa

The major players in the global contrast enhanced ultrasound market are:

• GE Healthcare
• Siemens Healthineers AG
• Acusphere Inc
• Koninklijke Philips NV

Key strategies adopted by some of these companies:

In March 2022, Trivitron Healthcare Pvt Ltd announced its acquisition of The Kennedy Company, a manufacturer of Acoustic Barrier and X-ray Shielding Material Products, to enhance its manufacturing presence in the US.

In July 2022, with its compact design and superior image quality, even at a low dosage, Siemens Healthineers AG launched its Multix Impact E, an economical X-ray apparatus, to increase access to diagnostic care.

In April 2022, a multi-year agreement was announced between Koninklijke Philips NV and Prisma Health, a non-profit organization in South Carolina, the United States, to boost the healthcare system, achieve enterprise interconnectivity, centralize patient monitoring, and encourage innovation in enterprise imaging solutions. These goals will help improve patient care and clinical performance.

Additionally, in April 2022, Trivitron Healthcare Pvt Ltd increased its capacity for production by constructing a second ultrasound manufacturing facility in Mumbai, India. This facility will be used to produce a variety of cutting-edge ultrasound devices and accessories and lessen dependence on imports for meeting domestic needs.

Report Synopsis: