Microbubbles/Ultrasound Contrast Agents Market Size, Share and Trends Analysis, By Product Type (Lipid-shelled, Protein-shelled, Polymer-shelled, Targeted, and Theranostic/Drug-loaded microbubbles), By Route of Administration (Intravenous (IV), Intra-arterial, and Intratumoral), By Therapeutic Area, By End-Use, and By Region, Forecast 2025-2032

Microbubbles/Ultrasound Contrast Agents Market Overview and Key Insights:

The microbubbles/ultrasound contrast agents market size reached USD 1,542.6 Million in 2024 and is expected to register a revenue CAGR of 14.4% during the forecast period. In cardiology and radiology, microbubbles are utilized as blood pool agents in contrast ultrasonography imaging. When utilized as ultrasound contrast agents, microbubbles can act as both echo-enhancers and therapeutic agents, playing an important role in ultrasound imaging and ultrasound-mediated therapy. Potential clinical uses of molecular imaging with microbubble-based ultrasound contrast agents include monitoring the biomarker status of vascular endothelium, evaluating tumor vasculature, and imaging inflammation, ischemia-reperfusion damage zones, and thrombus.

Market Drivers:

Rising prevalence of chronic diseases is a key driver of revenue growth in the microbubbles/ultrasound contrast agents market. According to the American Cancer Society, number of colorectal cancers in the United States in 2025 is approximately 107,320 new cases of colon cancer (54,510 in males and 52,810 in women), and approximately 46,950 new cases of rectal cancer (27,950 men and 19,000 women). In the United States, colorectal cancer is the third greatest cause of cancer-related deaths in men and the fourth leading cause in women.

Contrast-enhanced ultrasonography can accurately characterize lesions, equivalent to CT and MRI scans. CEUSG is a quick, inexpensive, and extensively utilized treatment in most oncology institutions, with the added benefit of avoiding nephrotoxicity and radiation. CEUS can help plan biopsies by identifying necrotic and viable parts of tumors, improving diagnostic accuracy.

On November 2024, Bracco, a global leader in diagnostic imaging, has launched its cutting-edge facility in Geneva, marking a significant step forward in contrast-enhanced ultrasound (CEUS) technology. With an investment of more than EUR 80 million, the new Hexagon facility will treble production of Bracco’s revolutionary microbubble-based ultrasound contrast agents. The innovative platform improves diagnostic accuracy for assessing heart cavities, blood arteries, and tissue vascularity while providing non-invasive, radiation-free alternatives to established imaging techniques.

Market Opportunity:

Integration with precision medicine & molecular imaging act as an opportunity for microbubbles/ultrasound contrast agents market. Accurate cancer detection, precise treatment prediction and prognosis evaluation, and tailored cancer immunotherapy are all effective ways to integrate precision medicine in the clinic. The processes of ultrasound in various diagnoses and treatments differ, and the functional applications of commercial ultrasound are expanding. Recent advances in nanotechnology have resulted in a greater usage of US in precision medicine. Because of the benefits of non-invasiveness and excellent tissue penetration, ultrasonic nanotheranostics has shown considerable promise in precision medicine.

Microbubbles for clinical molecular imaging are being created in response to a rapidly expanding body of research. Microbubbles are exclusively intravascular contrast particles with a maximum size of few micrometers that allow recirculation in the bloodstream. To achieve targeted imaging with microbubbles, the bubble surface must be decorated with appropriate ligands—molecules with unique affinity for disease biomarkers.

On September 2023, Philips has revealed that the EPIQ Elite ultrasound system now includes a super-resolution contrast-enhanced ultrasound (CEUS) application. CEUS uses inert-gas microbubbles as a contrast medium. With the addition of Philips Microvascular Imaging Super Resolution Contrast-Enhanced Ultrasound (CEUS) to the Philips Ultrasound System – EPIQ Elite, CEUS imaging now provides up to 200% higher spatial resolution than previous offers.

Recent Trends:

Emerging trends include monodisperse & engineered microbubble formulations, integration with therapeutic ultrasound, advanced imaging & post-processing techniques, and growth of ultrasound-mediated cavitation & sonodynamic therapy.

Endoscopic ultrasound (EUS) is an important imaging technique for the mediastinum and abdominal organs. Since the development of US contrast agents (UCA) for transabdominal US, attempts have been made to extend contrast-enhanced US procedures to EUS. CEUS has long been used in clinical practice to characterize suspected lesions in various organs, particularly the liver, as well as to detect cardiovascular abnormalities (e.g., using echocardiography).  Microbubbles are mostly utilized in cardiovascular imaging to enhance the signal in the vessel lumen and to detect stenoses and aneurysms. CEUS demonstrated equivalent specificity and sensitivity to contrast-enhanced CT in detecting endoleaks following endovascular aneurysm repair.

Restraints & Challenges:

Ultrasound is an underestimated molecular imaging technology, despite its ability to identify single microbubbles with high sensitivity. High signal specificity is tricky to accomplish due to the difficulty of differentiating the signal emanating from a bound targeted microbubble from free flowing (non-adhered) microbubbles and tissue.

Another major challenge is limited reimbursement, especially for advanced or emerging applications such as targeted drug delivery or molecular imaging. While traditional ultrasound imaging is widely covered, contrast-enhanced procedures are not consistently reimbursed across countries, slowing uptake in hospitals and diagnostic centres. Short circulation half-life also limits efficiency in clinical use. Most microbubble agents remain in the bloodstream for only a short period., which constrains imaging time and restricts use in deeper or slower-perfuring tissues.

Product Type Segment Insights and Analysis:

Based on the product type, the microbubbles/ultrasound contrast agents market is segmented into lipid-shelled microbubbles, protein-shelled microbubbles, polymer-shelled microbubbles, targeted microbubbles, and theranostic/drug-loaded microbubbles.

Lipid-shelled microbubbles segment contributed the largest market share in 2024. Lipid-shelled microbubbles (MBs) and echogenic liposomes (ELIPs) have been proposed as acoustofluidic theranostic agents after demonstrating efficacy as ultrasonic contrast agents in diagnostic settings. These agents are made up of gas-filled microbubbles enclosed in a lipid shell, which provides stability and enables for targeted distribution. These carriers, which range in size from several microns to submicrons, can be used to encapsulate a wide range of therapeutic drugs, including hydrophilic and hydrophobic chemicals, and deliver them to specific areas in the body.  The acoustic impedance mismatch between the gas core and the surrounding fluid causes these agents to echo, providing for real-time traceability.

Route of Administration Segment Insights and Analysis:

Based on the route of administration, the microbubbles/ultrasound contrast agents market is segmented into intravenous (IV), intra-arterial, and intratumoral.

Intravenous (IV) segment contributed the largest market share in 2024. Targeted contrast-enhanced ultrasound imaging employing gas-filled echogenic microbubbles as contrast agents is emerging as a promising and powerful molecular imaging technique. Researchers can direct ultrasound contrast agents to specific molecular markers by attaching suitable ligands to the surfaces of microbubbles. After intravenous administration, microbubble-based agents pass through the pulmonary capillaries because of their small size. These isotonic agents, compatible with human plasma, dissolve after injection, leaving residues that the body easily digests and eliminates with minimal risk of embolus formation. Microbubbles typically remain in the vascular compartment for 3 to 5 minutes after injection.

Therapeutic Area Segment Insights and Analysis:

Based on the therapeutic area, the microbubbles/ultrasound contrast agents market is segmented into cardiovascular imaging, oncology, radiology/general imaging, neurology, and others.

Oncology segment contributed the largest market share in 2024. Microbubbles are an emerging medical treatment and imaging modality. Ultrasound-guided microbubbles are an efficient diagnostic and treatment approach because they lower the systemic toxicity of chemotherapy medicines. Researchers also use this technique to deliver specific genes in gene therapy. Recent studies have advanced cancer treatment by applying physical methods to alter tumor biology. Microbubbles enhance the effects of radiation by disrupting tumor vasculature, leading to tumor cell death. This approach precisely targets tumor regions by customizing ultrasonic fields that stimulate and localize microbubbles, thereby preventing vascular damage in surrounding tissues.

Using USMB in conjunction with radiation has been shown to boost radiation’s anti-vascular action, resulting in increased tumor response. Recent research with nanobubbles has demonstrated vascular permeability into the intracellular space, increasing the usage of this new treatment modality and perhaps improving the therapeutic efficacy of ultrasound-based therapy.

On April 2025, the Li Ka Shing Foundation (LKSF) and the Temasek Trust (TT) have pledged S$12 million to conduct new non-invasive ultrasound-based histotripsy tumor clinical trials in Singapore. The National Cancer Centre Singapore (NCCS) and the National University Cancer Institute, Singapore (NCIS) will each receive one Histotripsy System, which is the first of its kind in Southeast Asia. The LKSF and TT grants will also fund a clinical trial in Singapore for patients with liver, kidney, and pancreatic malignancies, boosting regional cancer research and innovation.

Geographical Outlook:

Microbubbles/ultrasound contrast agents market is strategically segmented by geography to provide a comprehensive understanding of regional market dynamic. Discover demand analysis, emerging trends, and growth opportunities shaping market performance across different region and countries.

North America Microbubbles/Ultrasound Contrast Agents Market:

North America is registered to have highest market share in microbubbles/ultrasound contrast agents market in 2024. This is mainly driven by rising prevalence of chronic diseases and advancements in targeted and molecular imaging. According to the American Heart Association’s 2025 Heart Disease and Stroke Statistics Update, heart disease is still the leading cause of death in the United States. Heart disease kills approximately 695,000 individuals in the United States each year, accounting for one out of every five deaths. Coronary heart disease (CHD) is the most common type of heart disease, killing around 375,476 people each year. While medical improvements have enabled more individuals to live longer lives with cardiovascular diseases, many of the risk factors that contribute to these diseases, such as high blood pressure and obesity, continue to rise at alarming rates.

On May 2025, GE HealthCare stated that the FDA has authorized a pediatric indication for its Optison (Perflutren Protein-Type A Microspheres Injectable Suspension, USP) ultrasound enhancing agent (UEA). This approval will assist improve the clarity and diagnostic accuracy of echocardiograms in young patients, offering cardiologists a more complete view of ventricular function when evaluating potential cardiac abnormalities or disease. Optison consists of gas-filled microbubbles that enhance the reflection of ultrasonic waves compared to surrounding tissues or blood, thereby improving visualization of the heart chambers and endocardial borders essential for assessing cardiac conditions.

Asia Pacific Microbubbles/Ultrasound Contrast Agents Market:

Asia Pacific is expected to register the fastest growth rate during the forecasted period, driven by the advancements in targeted and molecular imaging and shift toward non-invasive and point-of-care imaging. APAC region is spending more on healthcare, especially diagnostic imaging, as they get older and wealthier. Many elderly Asians with chronic illnesses (such as renal disease, heart disease, and joint issues) have gone untreated for decades. However, as per capita GDP rises, an increasing number of people can afford to spend their disposable income on diagnostics and treatment. For instance, according to the World Economic Forum, more than one out of every ten adults in the country are now 80 or older and approximately 36.23 million people are over the age of 65.

On March 2024, Samsung Medison and Bracco Imaging signed a Memorandum of Understanding to pioneer a new market for diagnostic ultrasound devices and contrast agents. The two companies are exploring working together to create methods for high-frequency and super-resolution imaging for diagnostic applications. This cooperation will also include worldwide marketing efforts such as healthcare provider education and cooperative participation in strategic events, as well as research into the potential for ultrasound-targeted contrast enhanced medication delivery technologies in collaboration with pharmaceutical agents.

Europe Microbubbles/Ultrasound Contrast Agents Market:

Europe is expected to register a considerable market share during the forecasted period. According to the World Health Organization Europe, cardiovascular illnesses are the most common cause of mortality and disability in the WHO European Region. In Europe, CVDs killed an estimated 4.2 million individuals, accounting for more than two out of every five deaths. Heart attacks and strokes accounted for more than 8 out of every 10 CVD deaths in Europe.

On August 2025, Bracco Imaging, a global diagnostic imaging pioneer, announced that their ultrasound contrast agent has been licensed by China’s National Medical Products Administration (NMPA) for use in hysterosalpingo-contrast sonography (HyCoSy). HyCoSy is a contrast-enhanced ultrasound (CEUS) method that helps discover potential reasons of female infertility related to fallopian tube blockages or uterine abnormalities with a high level of diagnostic accuracy.

Competition Analysis:

The microbubbles/ultrasound contrast agents market is characterized by a consolidated structure, with few players competing across various segments and regions. List of major players included in the microbubbles/ultrasound contrast agents market report are:

• Revvity, Inc.
• FUJIFILM VisualSonics, Inc.
• Scintica Instrumentation, Inc.
• GE HealthCare Technologies Inc.
• Bracco Group
• Kiran
• Solstice Pharmaceuticals B.V.
• Lantheus Holdings, Inc.
• SANOCHEMIA Pharmazeutika GmbH
• Koninklijke Philips N.V.

Strategic Developments in Microbubbles/Ultrasound Contrast Agents Market:

• In February 2025, Bracco Imaging, a global diagnostic imaging leader, stated that the US FDA has given Fast Track designation for the development of BR55 (perfluorobutane/nitrogen lipopeptide-coated microbubbles) injection for identifying active bowel inflammation in Crohn’s disease patients. BR55 is a novel molecular imaging ultrasound contrast agent that targets the vascular endothelial growth factor receptor 2 (VEGFR2), a molecule that is highly expressed by endothelial cells in angiogenesis areas, thereby increasing the ultrasound signal in those areas.
• In April 2023, Solstice Pharmaceuticals has announced the completion of cutting-edge cleanroom facilities for clinical trial manufacturing of a cartridge system for monodisperse microbubbles. This is a significant milestone for both the corporation and the clinical application of cutting-edge technology. The new facilities, located in the Twente region, will enable the production of monodisperse microbubble cartridges in a controlled environment that fulfills the highest hygiene and sterility standards.

Key Advantages for Stakeholders:

Navistrat Analytics’ industry report provides an in-depth quantitative analysis of various market segments, historical and current trends, market forecasts, and dynamics within the global market. The historical years covered in this report are 2022 to 2023, with 2024 serving as the base year for market size calculations. The forecast period extends from 2025 to 2032.

The report includes an executive summary and a comprehensive overview of market drivers, restraints, opportunities, and challenges (DROC), along with insights into regulatory standards. It features detailed analyses such as PORTER’s Five Forces, SWOT, and PESTLE, as well as assessments of technological trends and the competitive landscape.

PORTER’s Five Forces analysis helps stakeholders evaluate the impact of new entrants, competitive rivalry, supplier power, buyer power, and substitution threats, enabling them to assess the level of competition and the attractiveness of the global market. The competitive landscape provides stakeholders with a clear understanding of the current market positions of key players, offering valuable insights into their competitive environment.

Scope And Key Highlights Of The Microbubbles/Ultrasound Contrast Agents Market Report:

The Microbubbles/Ultrasound Contrast Agents Market report offers a detailed analysis of market size, including historical revenue (in USD Million) data for 2022-2023 and revenue forecasts for 2025-2032 across the following segments:

• Product Type Outlook (Revenue, USD Million; 2022-2032)
  • Lipid-shelled microbubbles
  • Protein-shelled microbubbles
  • Polymer-shelled microbubbles
  • Targeted microbubbles
  • Theranostic/Drug-loaded microbubbles

• Route of Administration Outlook (Revenue, USD Million; 2022-2032)
  • Intravenous (IV)
  • Intra-arterial
  • Intratumoral

• Therapeutic Area Outlook (Revenue, USD Million; 2022-2032)
  • Cardiovascular Imaging
  • Oncology
  • Radiology / General Imaging
  • Neurology
  • Others

• End-Use Outlook (Revenue, USD Million; 2022-2032)
  • Hospitals and Clinical Laboratories
  • Pharmaceutical and Biotechnology Companies
  • Academic and Research Institutes
  • Contract Research Organizations (CROs)
  • Diagnostic Centers

• Regional Outlook (Revenue, USD Million; 2022-2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Benelux
    • Nordic Countries
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Oceania
    • ASEAN Countries
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Israel
    • Turkey
    • Rest of MEA

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