The global contrast media injectors market was valued at USD 1,027.9 Million in 2019 and is projected to reach USD 1,589.7 Million by 2027, expanding at a CAGR of 6.8% during the forecast period. Demand for contrast media injectors is driven by the increasing demand for non-invasive and minimally invasive surgeries, growing incidence of several chronic diseases, rising research and development activities in the healthcare sector, and rising approvals for contrast agents.
Contrast media injectors are used to inject contrast media to improve the perfusion in tissues and blood. Contrast media injectors are used to inject contrast media at the time of diagnostic imaging to enhance image quality and improve patient safety. Thus, the increase in the number of cancer and CVD cases will stimulate the demand for improved healthcare facilities and advanced diagnostic imaging procedures, which, in turn, will drive the market for contrast media injectors.
Non-invasive and minimally invasive surgical procedures provide several advantages, such as tiny incisions instead of a large opening, quick recovery, less hospital stays, less pain, and minor surgical wounds. The use of contrast media injectors in these procedures offers high-quality real-time imaging of the surgical site and ensures the treatment of appropriate area by surgeons. Thus, the adoption of contrast media injectors for minimally invasive surgeries is increasing, which is further fueling the market.
Cases of chronic diseases requiring accurate diagnosis through different imaging systems such as computed tomography (CT) scanners and magnetic resonance imaging (MRI) equipment that requires contrast media injectors. Growing adoption of poor lifestyle is increasing incidences of chronic diseases, which is projected to drive the contrast media injectors market during the forecast period.
The contrast media injector market is expected to grow, due to the increasing expenditure on healthcare sector, and adoption of advanced diagnostics. Research and development areas of contrast media involves development of contrast media, and optimization of imaging technology for maximizing image contrast media. Moreover, the presence of various key vendors and their research and development (R&D) investments boost the growth of the market.
Rising demand for contrast agents has significantly increased over the past years, and introduction of Clariscan increases clinical offering for the US radiologists, that enhances visualization for providing better patient care. For instance, the U.S. Food and Drug Administration (FDA) has approved Clariscan is a macrocyclic, gadolinium-based, ionic, magnetic resonance imaging (MRI) contrast agent. It has been approved in more than 55 countries across the world and more than 4 Million patient doses shipped in different countries. Hence, rising number of contrast agent approvals are propelling the market.
Rivalry amongst competitors has led to high pressure on pricing strategies. Moreover, the high costs of system and side-effects of contrast agents including iodinated contrast, gadolinium, barium, and microbubble agents, is expected to limit their adoption by healthcare professionals. The cost of contrast media injectors differs, based on the types of injectors such as dual-head, single-head, and syringeless injectors. Also, cost of consumables is high as tube and syringe cannot be used again, due to hygiene and safety issues. This is a major burden for end users, thus the aforementioned factors are hampering the growth of contrast media injectors market.
Use of medical imaging as well as contrast media is expected to increase worldwide, due to rising use of computed tomography (CT), magnetic resonance imaging (MRI) and angiography procedures, and disease burdens. Rising awareness of early diagnosis of disease is expected to further drive the contrast media injectors market. Increasing awareness about patient disease diagnosis helps the population to support imaging diagnostic systems. Hence, lucrative growth opportunities in the CT scanners and MRI equipment are expected to boost the market.
In terms of products, the contrast media injectors market is divided into injector systems, consumables, and accessories. The injector system is further divided into CT injectors, MRI injectors, and DSA injectors. The consumables segment is further segmented into syringes, tubes, and others. The consumables segment is expected to hold a significant share of the market and is projected to expand at a substantial CAGR during the forecast period, owing to rising requirement of consumables in order to maintain hygienic and safety conditions during diagnostic procedures. The CT injector sub-segment is expected to expand at a considerable CAGR, owing to the widespread application of CT injectors in cancer surgery, cardiovascular surgery, neurosurgery, and spinal procedures. Moreover, growing adoption of minimally invasive surgeries is projected to boost the demand for CT injectors during the forecast period.
Based on injector types, the contrast media injectors market is categorized as dual-head injectors, single-head injectors, and syringeless injectors. The syringeless injectors segment is expected to expand at a significant pace during the forecast period, due to its advantages such as high efficiency, user-friendliness, and minimum wastage of contrast media. Moreover, leading market players of contrast media injectors are concentrating on the development of syringeless injectors, which in turn, is anticipated to drive the segment. The single-head injectors segment is expected to hold a significant share of the market and is projected to expand at a substantial CAGR during the forecast period, as it is widely used for CT, angiography, and MRI.
In terms of applications, the contrast media injectors market is segmented into radiology, interventional radiology, and interventional cardiology. The radiology segment is expected to expand at a significant pace during the forecast period, due to increasing number of radiology techniques using contrast media injectors. The growth of the segment is attributed to the diagnosis of several diseases, including breast cancer, heart conditions, broken bones, colon cancer, gastrointestinal conditions, and blood clots. The interventional cardiology segment is expected to grow at a significant pace, owing to increasing prevalence of cardiac diseases, including heart valve problems, arrhythmia, heart attacks, and strokes
In terms of end-users, the contrast media injectors market is categorized as hospitals, diagnostic centers, and Ambulatory Surgery Centers (ASCs). The hospital segment is projected to expand at a considerable pace during the forecast period, due to rising admissions of patients suffering from cardiovascular diseases, cancer, and neurological disorders. The diagnostic centers segment is expected to grow at a significant CAGR, owing to surging number of private imaging centers (driven by the increasing demand for diagnostic imaging and early diagnosis) and the absence of imaging modalities in mid-scale and small hospitals. Growing focus on the expansion of healthcare infrastructure in developing countries in Africa and Asia Pacific is anticipated to propel the hospital segment.
On the basis of regions, the global contrast media injectors market is fragmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is expected to dominate the market during the forecast period, due to factors such as growing incidence of minimally invasive procedures and rising prevalence of chronic diseases owing to changing lifestyles. The US holds significant share in the market during the forecast period, due to technological advancements in contrast media injectors devices and increasing expenditure by key players along with rising regulatory approvals. Europe region hold substantial share in the market during the forecast period, due to the local presence of various leading companies, such as Bracco Group, and others. The market in China is expected to expand at a rapid CAGR during the forecast period, due to rising disposable income and increase in funding for research and development (R&D).
Key Segments Covered
By Injector Types
Key Market Players Profiled in the Report
Key Segments Covered
By Injector Types
Key Market Players Profiled in the Report
Some frequently asked quetions about this report!
Additional company profiles are provided on request.
Yes, the report provides supply chain analysis along with a list of raw material suppliers, manufacturers, distributors, and customers.
According to the Growth Market Reports, the market for contrast media injectors is likely to register a CAGR of 6.8% during forecast period 2020-2027, with an anticipated valuation of USD 1,589.7 million by the end of 2027.
In addition to market size (in USD Million) and market volume (in Thousand Units), company market share (in % for base year 2019), other data such as Pricing Analysis & Forecast, By Product, Region, and Country; Regulatory Requirements, Reimbursement Scenario, Technological Trends & Advancements Overview, Business Model of Key Companies, Installed Base By Country: CT, MRI, DSA Scanning Machines, macro-economic factors and COVID-19 impact on the value chain are available in the final report.
Applications in the global contrast media injectors market includes radiology, interventional radiology, and interventional cardiology.
Demand for contrast media injectors is expected to continue to increase over the forecast period, taking into account increasing demand for non-invasive and minimally invasive surgeries, increasing occurrence of several chronic diseases, rising research and development activities in the healthcare sector, and rising approvals for contrast agents.
Factors such as competitive strength and market positioning are key areas, which are considered while selecting top companies to be profiled.
The market is expected to decrease around 2.3% in 2020, owing to the negative impact of COVID-19 pandemic on the contrast media injectors market.
The base year considered for the global contrast media injectors market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major Manufactures are ulrich GmbH & Co. KG, GENERAL ELECTRIC COMPANY, Bayer HealthCare LLC, Bracco Imaging S.p.A., Guerbet, SINO MDT, APOLLO RT Co. Ltd.
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