The global contrast media injectors market is expected to reach USD 1.65 billion by 2030, registering a CAGR of 4.83% during the forecast period, according to a new report by Grand View Research, Inc. The market is expected to grow because of the rising demand for minimally invasive surgical procedures, along with the increasing usage of consumables for several diagnostic procedures, which are supporting the market growth of contrast media injectors.
Contrast Media Injectors Market Report Highlights
- By product, injector systems accounted for the largest market share of 61.33%in 2021, due to its growing application in the diagnosis and treatment of vascular disease, cancer, and others
- By type, single head injectors accounted for the largest market share of 44.44% in 2021, because of their wide usage in the field of angiography, CT, and MRI as well these products are inexpensive
- Based on the application, the radiology segment dominated the market with around 47.39% of the revenue share in 2021, because it is the primary procedure used for the diagnosis of several chronic diseases
- Based on the end use, the hospitals segment dominated the market with around 68.07% of the revenue share in 2021, due to the fact that these facilities are primary users of the contrast media injectors because of their need to record the rhythm & electrical activity and evaluate the results in detail for clinical & research purposes
- Asia Pacific contrast media injectors market is expected to witness the fastest growth rate at a CAGR of 5.41% over the forecast period. Factors that can be attributed to market growth include the growing geriatric population and an increasing number of surgeries
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Contrast media injectors are used to inject contrast media or contrast agents to enhance the blood and perfusion in tissues and used to enhance the visibility of tissues for medical imaging procedures. There have been several recent advances with contrast media injector technology, including cutting costs. Demand high-pressure contrast media injectors market is snowballing with an increase in chronic conditions such as neurovascular, cardiovascular, and cancer.
COVID-19 had a significant impact on the contrast media injector market, in 2019, with around a 30-40% reduction in sales due to the imposed lockdown and rapid decline in imaging case volume. However, the market is expected to return to peak levels of 2019 by 2022. This is due to the launch of COVID-19 vaccines and ease in restrictions, import & export of raw materials have resumed; therefore, the market is expected to grow at a significant rate over the forecast period.
Technological advancements such as IT-enabled solutions for contrast media injectors, along with growing demand for minimally invasive surgical procedures, are expected to boost the market during the coming years. Furthermore, the large number of intraoperative imaging procedures being performed has further enhanced the demand for these injectors, propelling the market growth.
Contrast Media Injectors Market Insights By Regions
North America dominated the market. The presence of well-established healthcare facilities, easy availability of advanced technologies, and high demand for diagnostic procedures in this region is expected to increase the number of inpatient examinations, which is expected to boost the market growth. Additionally, countries such as the U.S. and Canada have seen an increase in hospital admissions in recent years, as a result of the high occurrence of chronic medical diseases & fatal injuries. Asia Pacific contrast media injectors market is likely to grow. Japan, China, and India are the major contributors to Asia Pacific’s contrast media injectors market. Rapidly developing economies, growing awareness about healthcare, and an aging population are among the key factors boosting the market in this region.
Competitive Analysis By Major Companies
The key players provide a broad range of advanced devices through their strong distribution and supply channels worldwide. In addition, leading players are involved in mergers & acquisitions, new product launches, strategic collaborations, and regional expansions to gain the maximum revenue share in the sector. Mergers & acquisitions help companies to expand their businesses and regional presence. Some prominent players in the global contrast media injectors market include:
- Bayer HealthCare LLC
- Bracco Group
- Ulrich Medical
- Guerbet Group
- Medtron AG
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Contrast Media Injectors Market Segmentation
Grand View Research has segmented the global contrast media injectors market based on the product, type, application, end use, and regions.
- Contrast Media Injectors Product Outlook (Revenue USD Million; 2017 – 2030)
- Contrast Media Injectors Type Outlook (Revenue USD Million; 2017 – 2030)
- Contrast Media Injectors Application Outlook (Revenue USD Million; 2017 – 2030)
- Contrast Media Injectors End Use Outlook (Revenue USD Million; 2017 – 2030)
- Contrast Media Injectors Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players in the Contrast Media Injectors Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated and customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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