X-Ray Examination Preparations Market

The global market for opacifying preparations for x-ray examinations is poised for growth, with forecasts indicating an increase in both market volume and value. Key insights include consumption trends, market performance projections, and analysis of key countries in terms of production, imports, and exports. The detailed analysis covers key trends from 2012 to 2022, highlighting growth rates, market sizes, and price trends across different regions.

Market Forecast

Driven by increasing demand for opacifying preparations for x-ray examinations worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 217K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $24B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Opacifying Preparations For X-Ray Examinations

In 2022, approx. 190K tons of opacifying preparations for x-ray examinations were consumed worldwide; with an increase of 3.3% against the year before. Over the period under review, consumption saw a modest expansion. Over the period under review, global consumption attained the peak volume at 193K tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global x-ray examination preparations market size was estimated at $17.6B in 2022, with an increase of 3.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $17.8B. From 2021 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (47K tons), the United States (25K tons) and India (17K tons), with a combined 47% share of global consumption. Japan, France, Russia, Brazil, Ireland, Nigeria, the UK, Germany, Mexico and Canada lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +24.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($4.3B) led the market, alone. The second position in the ranking was taken by the UK ($2B). It was followed by the United States.

In China, the x-ray examination preparations market expanded at an average annual rate of +2.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: the UK (-4.1% per year) and the United States (+5.5% per year).

In 2022, the highest levels of x-ray examination preparations per capita consumption was registered in Ireland (1,359 kg per 1000 persons), followed by France (120 kg per 1000 persons), Canada (90 kg per 1000 persons) and Japan (82 kg per 1000 persons), while the world average per capita consumption of x-ray examination preparations was estimated at 0.3 kg per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the x-ray examination preparations per capita consumption in Ireland totaled +23.4%. In the other countries, the average annual rates were as follows: France (+1.2% per year) and Canada (+0.2% per year).

Production

World Production of Opacifying Preparations For X-Ray Examinations

In 2022, global production of opacifying preparations for x-ray examinations totaled 189K tons, surging by 4.3% against 2021 figures. The total output volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 12%. Over the period under review, global production reached the maximum volume at 191K tons in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In value terms, x-ray examination preparations production stood at $17.5B in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 8.8% against the previous year. As a result, production attained the peak level of $17.8B. From 2021 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (53K tons) constituted the country with the largest volume of x-ray examination preparations production, accounting for 28% of total volume. Moreover, x-ray examination preparations production in China exceeded the figures recorded by the second-largest producer, India (16K tons), threefold. Germany (15K tons) ranked third in terms of total production with a 7.8% share.

In China, x-ray examination preparations production expanded at an average annual rate of +1.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+3.1% per year) and Germany (+1.9% per year).

Imports

World Imports of Opacifying Preparations For X-Ray Examinations

In 2022, approx. 48K tons of opacifying preparations for x-ray examinations were imported worldwide; picking up by 2.2% compared with 2021 figures. The total import volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, x-ray examination preparations imports expanded slightly to $3.9B in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 9.8%. Global imports peaked in 2022 and are likely to see steady growth in years to come.

Imports By Country

The United States was the main importer of opacifying preparations for x-ray examinations in the world, with the volume of imports resulting at 17K tons, which was near 34% of total imports in 2022. Belgium (4.6K tons) held the second position in the ranking, followed by France (3.3K tons) and China (2.4K tons). All these countries together took near 21% share of total imports. Germany (2.1K tons), Japan (1.5K tons), South Korea (1.3K tons), Spain (1K tons), Brazil (1K tons), the UK (1K tons) and India (1K tons) took a relatively small share of total imports.

Imports into the United States increased at an average annual rate of +1.6% from 2012 to 2022. At the same time, Belgium (+24.0%), India (+17.3%), France (+10.9%), China (+10.5%), South Korea (+7.9%) and Spain (+6.9%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +24.0% from 2012-2022. Brazil, Japan and the UK experienced a relatively flat trend pattern. By contrast, Germany (-1.2%) illustrated a downward trend over the same period. Belgium (+8 p.p.), France (+3.5 p.p.) and China (+2.4 p.p.) significantly strengthened its position in terms of the global imports, while Germany and the United States saw its share reduced by -2.4% and -5.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1B) constitutes the largest market for imported opacifying preparations for x-ray examinations worldwide, comprising 27% of global imports. The second position in the ranking was taken by China ($353M), with a 9.1% share of global imports. It was followed by Belgium, with a 7% share.

In the United States, x-ray examination preparations imports expanded at an average annual rate of +4.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (+11.7% per year) and Belgium (+15.2% per year).

Import Prices By Country

The average x-ray examination preparations import price stood at $80,206 per ton in 2022, flattening at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 9.4% against the previous year. Global import price peaked at $88,952 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($149,063 per ton), while Brazil ($37,835 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Opacifying Preparations For X-Ray Examinations

For the eighth year in a row, the global market recorded growth in overseas shipments of opacifying preparations for x-ray examinations, which increased by 6.3% to 47K tons in 2022. The total export volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 14%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, x-ray examination preparations exports fell to $3.7B in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 12% against the previous year. As a result, the exports reached the peak of $4.1B, and then declined in the following year.

Exports By Country

Germany (11K tons), China (8.4K tons), Ireland (6.7K tons), Belgium (6.1K tons) and Italy (5.7K tons) represented roughly 82% of total exports in 2022. It was distantly followed by France (2.6K tons), making up a 5.5% share of total exports. The United States (1.8K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +48.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest x-ray examination preparations supplying countries worldwide were Germany ($896M), China ($524M) and Ireland ($490M), with a combined 52% share of global exports. Belgium, Italy, France and the United States lagged somewhat behind, together accounting for a further 30%.

Among the main exporting countries, Belgium, with a CAGR of +42.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average x-ray examination preparations export price stood at $78,839 per ton in 2022, dropping by -16% against the previous year. Overall, the export price recorded a mild slump. The pace of growth appeared the most rapid in 2018 an increase of 6.1%. Over the period under review, the average export prices reached the maximum at $99,159 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($95,605 per ton), while the United States ($58,911 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.6%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform