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The Use of MRI Contrast Agents May Cause Side Effects or Allergic Reactions, which Brings Challenges to the Development of the Industry

Magnetic resonance (MRI) contrast agent is a paramagnetic substance used during an MRI to enhance the scan so that the site can be seen more clearly. In the presence of this electron-containing material, the magnetic susceptibility of electrons is about 657 times that of protons, resulting in large local fluctuations in the magnetic field. Magnetic resonance examination has smooth sweep and enhance scan of cent, some clinical diseases need only smooth sweep to be able to get clear diagnosis.  However, there are some lesions that cannot be detected and clearly diagnosed on plain scanning and must be enhanced, especially for tumors.  These scans, called enhancement scans, are designed to increase the density difference between the diseased tissue and normal tissue, making it easier to diagnose and identify the disease, and can be useful in assessing outcomes before surgery. 

There are three common MRI contrast agents, namely extracellular fluid (ECF) agent, blood pool contrast agent (BPA) and hepatobiliary contrast agent. Extracellular fluid agents are distributed in the extracellular space. These drugs have been used for the longest time in liver imaging, and they remain the most commonly used and best-documented drugs, accounting for 72.35% of the market share in the industry in 2020. Blood pool contrast agents (BPA), also known as endovascular contrast agents, differ from other contrast agents due to their high molecular weight and high relaxation -- their large size prevents diffusion and leakage through the vascular epithelium into the interstitial space, so they remain in the vascular system for a longer time. Most contrast agents leave the vascular system within minutes, but blood pool contrast agents remain in circulation for up to an hour, extending the imaging time. Longer image acquisition time allows for better signal tone ratio and improved image resolution; Hepatobiliary contrast agent is a special contrast agent used to assist MRI diagnosis. They fall into three categories: gadolinium-based reagents, manganese-based reagents and superparamagnetic iron oxide particles. The three MRI contrast agents differ in administration and dose, cellular uptake mechanism, excretion degree through biliary pathway and imaging characteristics. 

Global MRI Contrast Agent Market Analysis and Forecast 

After a period of development, the industry has entered a mature stage.  According to our research, the global MRI contrast agent industry was valued at $969.09 million in 2015, with rapid growth in the period 2015-2020. In 2020, the market value of the industry grew to $1452.72 million.  Based on this, we performed a series of functional calculations and derived the data for the next 6 years using a scientific model. Finally, we predicted that by 2026, the global congratulatory resonance contrast agent would reach $2194.55 million. Meanwhile, the CAGR from 2021 to 2026 is forecasted at 5.45%. 

The top three companies in the global MRI contrast agent industry are Bayer, Guerbet Group and Bracco, with market shares of 38.24%, 22.85% and 21.91%, respectively, in 2020. The top 3 enterprises occupy more than 80% of the market share of the industry, so it can be seen that the industry has a high degree of market concentration and fierce competition.

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North America is the  largest revenue market, accounting for 38.86% of the global market share in 2020, with a market value of $382.24 million. Europe ranked second with a market value of $303.14 million and a market share of 30.72%. In addition, the data show that although North America and Europe are currently the first and second largest revenue markets, their market shares are declining year by year, and the market shares of the two regions are expected to decline to 38.25% and 29.99% respectively by 2026. On the contrary, the Asia-Pacific region, although currently ranked third, is increasing its market share from 21.56% in 2015 to 22.44% in 2020 and is expected to rise to 23.43% in 2026. The Asia Pacific region is a relatively densely populated region, which is becoming the fastest-growing market in the MRI contrast agent industry due to the continuous growth of population, scientific and technological development and continuous improvement of medical standards. 

Opportunities and Challenges for the Development of Global MRI Contrast Agent Industry in the Future

In recent years, the burden of chronic diseases has increased rapidly around the world. According to statistics, in 2001, chronic diseases accounted for approximately 60% of all reported deaths worldwide and approximately 46% of the global burden of disease. By 2020, the share of the burden of non-communicable diseases has increased to 57%.  Almost half of all deaths from chronic diseases are due to cardiovascular disease. The increasing prevalence of chronic and complex diseases has led to a dramatic increase in the number of diagnostic imaging tests. On the other hand, advances in diagnostic imaging technology and the increasing number of diagnostic centers offering MRI imaging services have created significant opportunities for companies operating in the MRI contrast agent market. In addition, there are not many contrast agent manufacturers at present, and most of the patents of products have expired for many years. There is still only one original manufacturer or 1-3 companies producing generic drugs. There is still a lot of room for the improvement of the medical infrastructure system and medical insurance system to replace generic drugs. 

Markets in the Asia-Pacific region is expected to increase to some extent, this can be attributed to the increase of R&D investment and favorable conditions of population, the increase of aging population, the incidence of cancer rises, radiology market investment, raise the attention of market participants, and the growth of China, Japan, India and other countries in the Asia-Pacific region increased government support. 

However, the use of contrast media during MRI has been associated with side effects and allergic reactions, as well as adverse reactions associated with contrast agent, of which anaphylaxis is the most common. Such as feeling giddy, occurrence hallucination, vascular toxicity, kidney toxicity because of allergic reaction and nausea. When serious, the expression is blood pressure dropping obviously, shock, serious trachea, bronchial oedema spasm, serious laryngeal oedema. Therefore, people should do magnetic resonance contrast agent allergy test first when doing magnetic resonance. In addition, some people have low acceptance of MRI contrast agent, believing that MRI contrast agent will stain the internal organs and cannot be discharged from the body. It can be seen that the use of MRI contrast agent is a double-edged sword, which brings side effects or allergic reactions to a certain extent to limit the audience, which is expected to limit the growth of the market, but also bring great challenges to the development of the industry.

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