The Global Iodine Market Growth Accelerated By Opportunities In X-Ray Contrast Media Production

 

Iodine Market 


Iodine is a halogen element mainly used in medical imaging and x-ray contrast media production. Iodine has exceptionally high atomic number that allows it to strongly absorb x-rays. This property makes iodine compounds ideal for contrast enhancement in medical imaging technologies like computed tomography. Iodine is used as an essential component in various intravascular contrast agents and orally administered contrast agents. It helps physicians to better visualize organs, blood vessels and tissues during medical scanning procedures.

The global Iodine Market is estimated to be valued at US$ 1641.17 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:


The opportunities in x-ray contrast media production is one of the key trends driving the iodine market growth. With rising healthcare spending and increasing adoption of medical imaging modalities across hospitals and diagnostic centers, the demand for iodine-based contrast agents is surging significantly. As iodine enhances the contrast of structures within the body during CT scans and angiography procedures, it allows easy identification of abnormalities. This has propelled the consumption of iodine in manufacturing a wide variety of intravenous, oral and rectal contrast agents for improved visualization in angiography and urography exams. The expanding diagnostic applications of contrast enhanced medical scans will continue augmenting the demand for iodine in contrast media preparations over the forecast period.


Segment Analysis


The global iodine market is segmented into , natural brine, nitrite ores, and others. The natural brine segment dominates the market and accounts for around 70% share of the total iodine market. Natural brine is the most economical and cost-effective method of extracting iodine. The abundant availability of iodine in brine makes it the preferred choice for iodine extraction.

Key Takeaways

The Global Iodine Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. With a CAGR of 4.1%, the market size is projected to reach US$ 1641.17 Mn by 2023 from US$ 1436 Mn in 2022.

Regional analysis: Asia Pacific dominates the global iodine market with over 35% share. China, Japan and India are the key contributors to the region's dominant position. The large population and growing health awareness have led to increased demand for iodine and iodine-based products in the region. North America is expected to witness steady growth due to rising demand from medical applications.

Key players: Key players operating in the iodine market are Alpha Omega, Inc., GE Healthcare, and Iofina PLC. Alpha Omega is a leading producer of iodine and derivative products. GE Healthcare is a prominent medical technology company utilizing iodine in medical imaging. Iofina PLC specializes in iodine extraction using wellhead brines and has a dominant market share.

Explore more information on this topic, Please visit-  

https://www.marketwebjournal.com/iodine-market-growth-and-trnds-analysis-share-size-demand-forecast/ 

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