Global Ioversol Market Size, Share, and COVID-19 Impact Analysis, By Injection Type (Ioversol 68%, Ioversol 34%, Ioversol 74%, Ioversol 51%, and Ioversol 64%), By Packaging (Bottles, Power Injector Syringes, Vials, and Power Injector Syringes), By Application (Angiography, X-Ray, CT Scan, Radiological & Diagnostic Examinations, Computed Tomographic Scans, Urography, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Ioversol Market Insights Forecasts to 2033

• The Global Ioversol Market Size was estimated at USD 695.57 Million in 2023
• The Market Size is expected to grow at a CAGR of around 7.14% from 2023 to 2033
• The Worldwide Ioversol Market Size is expected to reach USD 1386.20 Million By 2033
• Asia Pacific is predicted to grow at the fastest CAGR throughout the projection period

The Global Ioversol Market Size is predicted to exceed USD 1386.20 Million By 2033, Growing at a CAGR of 7.14 % from 2023 to 2033.

Market Overview

The ioversol market involves the production, distribution, and consumption of ioversol, which is used as a contrast agent and improves the visibility of internal structures in medical imaging technologies, including CT scans, X-rays, angiography, etc. Ioversol is a radiopaque contrast agent containing iodine, which absorbs X-rays, aiding in the clearer visualization of blood vessels, organs, and non-bony tissues on CT scans. It is used to diagnose heart, brain, and blood vessel disorders.

Ioversol, a non-ionic contrast agent, enhances contrast in computed tomographic imaging by enhancing radiographic efficiency. Its maximum contrast enhancement occurs within 15-120 seconds of injection, with visualization in the renal parenchyma within 30-60 seconds. In patients with normal renal function, opacification of calyces and pelves takes 1-3 minutes, with an optimal contrast within 5-15 minutes. Ioversol is highly soluble and non-ionic, allowing radiographic visualization of internal structures until significant hemodilution occurs. It diffuses from the vascular to the extravascular space in imaging procedures. In brains with an intact blood-brain barrier, it does not diffuse to the extravascular space. However, in patients with a disrupted blood-brain barrier, it accumulates in the interstitial space. Optiray, a product of ioversol, enhances computed tomographic imaging by enhancing radiographic efficiency with a degree of density enhancement directly related to the iodine content in an administered dose.

The rising prevalence of cardiovascular diseases accelerates the need for radiological and diagnostic procedures, which results in the increasing usage of the contrasting agents such as ioversol for the clear visualization of the heart and surrounding regions, leading to the growth of the ioversol market. For instance, the Centers for Disease Control and Prevention reported that heart disease is the leading cause of death in the United States, causing one death every 33 seconds. In 2022, 702,880 people died from heart disease, equivalent to 1 in every 5 deaths. The cost of heart disease from 2019 to 2020 was $252.2 billion, including healthcare, medicines, and lost productivity.

The increasing occurrence of neurological diseases among the worldwide population is leading to a rise in the demand for diagnostic imaging procedures of the brain, such as CT scans, which escalates the need for the ioversol injection for the magnification and clarification of the brain images, resulting in market growth. For example, the American Brain Foundation reported that in 2021, 43.1% of the global population, or 3.4 billion individuals, were affected by neurological conditions, leading to 11.1 million deaths. The rise in heart and respiratory disease cases is boosting the demand for ioversol, while global healthcare infrastructure growth is also driving this market.

Report Coverage

This research report categorizes the global ioversol market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyzes the key growth drivers, opportunities, and challenges influencing the global ioversol market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the global ioversol market.

Driving Factors:

Pharmaceutical companies are focusing on developing more efficient and safer contrast agents to meet the evolving needs of healthcare providers, such as low-osmolarity contrast agents that reduce the risk of kidney damage. The increasing focus on personalized medicine also presents an opportunity for the ioversol market, as personalized treatment plans increase the demand for precise imaging and accurate diagnoses. The ioversol market is driven by the growing demand for diagnostic imaging worldwide due to the increasing prevalence of chronic diseases like cardiovascular conditions, cancer, and neurological disorders. The aging global population and technological advancements in imaging techniques are also driving the demand for ioversol. The increasing adoption of minimally invasive procedures, digital radiography, and 3D imaging technologies has led to better image quality and increased usage of contrast agents. The increasing number of diagnostic imaging centers, particularly in developing economies, further drives the adoption of ioversol. The rising awareness of early disease detection and the importance of preventive healthcare has contributed to the increasing number of diagnostic procedures being conducted globally. The shift towards preventive care and routine health check-ups has further accelerated the demand for contrast agents, including ioversol, in routine diagnostic imaging procedures.

Restraining Factors

The introduction of new and improved contrast agents, including non-iodinated ones, the occurrence of adverse drug reactions, and stringent regulatory guidelines may hinder the growth of the market.

Market Segmentation

The global ioversol market share is classified into injection type, packaging, and application.

• The ioversol 64% segment dominated the market with 26.10% of the share in 2023 and is anticipated to grow at a significant CAGR throughout the forecast period.

Based on the injection type, the global ioversol market is categorized into ioversol 68%, ioversol 34%, ioversol 74%, ioversol 51%, and ioversol 64%. Among these, the ioversol 64% segment dominated the market with 26.10% of the share in 2023 and is anticipated to grow at a significant CAGR throughout the forecast period. This segment growth is owing to enhanced visibility of the internal organs, consumed in a wide range of the diagnostic procedures such as CT scan and angiography, etc., reducing the period of exposure to the contrast medium, non-ionic properties of the ioversol reduces the risk of side effects, and increasing demand of diagnostic procedures in the hospitals.

• The power injector syringes segment accounted for the largest market share of 29.42% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.

Based on the packaging, the global ioversol market is categorized into bottles, power injector syringes, vials, and power injector syringes. Among these, the power injector syringes segment accounted for the largest market share of 29.42% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The segmental expansion is attributed to durability, injects the medication of liquid dosage form at a high pressure, provision of the non-slippery grip, easy to operate, auto filling functionality, reduced errors due to automated flow rates, cost-effectiveness, and grow adoption of the novel syringes.

• The radiological & diagnostic examinations segment accounted for the largest market share of 36.79% in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe.

Based on the application, the global ioversol market is categorized into angiography, X-ray, CT scan, radiological & diagnostic examinations, computed tomographic scans, urography, and others. Among these, the radiological & diagnostic examinations segment accounted for the largest market share of 36.79% in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe. The segmental expansion is facilitated by the increasing need for the diagnostic imaging procedures, more accurate and accessible in the hospitals, innovations in the radiological techniques, growing medical facilities, and rising occurrence of the cardiovascular and orthopedic diseases in the aged population escalates the demand of radiological and diagnostic examinations such as X-ray.

Regional Segment Analysis of the Global Ioversol Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global ioversol market over the predicted timeframe.

North America is anticipated to hold the largest share of the global ioversol market over the predicted timeframe. The rise in chronic diseases such as cardiovascular and neurological disorders has led to the increased demand for diagnostic imaging procedures, and hence, the demand for Ioversol increased as a contrast agent. Developments in medical imaging technologies like CT scans and MRI Devices are contributing to this demand. In addition, the expenditure on healthcare in North America, with improved access to diagnostic imaging services, is driving demand for ioversol. Moreover, this demand is influenced by the geriatric population, as older people are expected to require such procedures more often.

Asia Pacific is anticipated to grow at the fastest CAGR throughout the projected timeframe. The ioversol market is expanding, attributed to the rise in cardiovascular disorders, bone-related challenges, and kidney-related issues, as well as the geriatric population's increased inclination toward orthopedic disorders, owing to rising pharmaceutical spending, increased awareness, and a growing population base, particularly in China and India. Investments in research and collaborations among key players are also driving market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global ioversol market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Ultraject
• Guerbet
• Jiangsu Hengrui Medicine
• China Resources Pharmaceutical Co.
• Mallinckrodt Pharmaceuticals
• Liebel-Flarsheim Company LLC
• HB Ocean
• Stellence Pharmascience Pvt. Ltd.
• Novalek Pharmaceuticals Pvt. Ltd.
• A.S. Joshi and Company
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In December 2020, Guerbet, a global leader in medical imaging, received US Food and Drug Administration approval for the commercial sale of its Optiray (Ioversol Injection) Imaging Bulk Package (IBP) and the LF IBP Transfer Set. The IBP, which can fill sterile single-use syringes with a power injector and cleared contrast media transfer set, is an efficient option for reducing single-dose vials without requiring preparation in a laminar flow hood or pharmacy facility.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global ioversol market based on the below-mentioned segments:

Global Ioversol Market, By Injection Type

• Ioversol 68%
• Ioversol 34%
• Ioversol 74%
• Ioversol 51%
• Ioversol 64%

Global Ioversol Market, By Packaging

• Bottles
• Power Injector Syringes
• Vials
• Power Injector Syringes

Global Ioversol Market, By Application

• Angiography
• X-Ray
• CT Scan
• Radiological and Diagnostic Examinations
• Computed Tomographic Scans
• Urography
• Others

Global Ioversol Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa