DUBLIN--(BUSINESS WIRE)--The "Contrast Media Injectors Market by Product (Injector Systems (CT Injector, MRI Injector), Consumables (Injector Heads, Syringes), Accessories), Application (Radiology, Interventional Cardiology), & End Users (Hospitals) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The contrast media injectors market is projected to reach USD 1.83 billion by 2024 from USD 1.33 billion in 2019, at a CAGR of 6.1% during the forecast period.
Factors such as the growing prevalence of cancer and CVD; a large number of approvals for contrast agents; and increasing investments, funds, and grants by government organizations are driving the growth of the contrast media injectors market. However, the high cost of contrast media injectors and consumables & accessories is restraining the growth of the market to a certain extent.
Major players in this market include are Bayer AG (Germany), Bracco Imaging S.P.A (Italy), Guerbet Group (France), Ulrich GmbH & Co. KG (Germany), Nemoto Kyorindo Co., Ltd. (Japan), Sino Medical-Device Technology Co., Ltd. (Sinomdt) (China), APOLLO RT Co. Ltd. (Hong Kong), Shenzhen Anke High-tech Co. Ltd. (China), Shenzen Seacrown Electromechanical Co. Ltd. (China), and Medtron AG (Germany).
The consumables segment is expected to witness the highest growth rate during the forecast period of the contrast media injector market.
Based on the product, the contrast media injectors market is segmented into injector systems, consumables, and accessories. The injector systems market is segmented further into CT injectors, MRI injectors, Angiography injectors. The consumables segment is segmented further into injector heads, syringes, tubes, and other consumables. The consumables segment is expected to witness the highest growth rate during the forecast period. The high growth rate in this segment can be attributed to the growing requirement of consumables to maintain safety and hygienic conditions during diagnostic procedures. These consumables need to be re-purchased for every new procedure as opposed to instruments.
The interventional cardiology segment will continue to dominate the contrast media injector applications market during the forecast period.
Based on application, the contrast media injectors market is segmented into radiology, interventional radiology, and interventional cardiology. In 2018, the interventional cardiology segment had the highest growth rate of the contrast media injectors market. The rising number of the high prevalence of CVD is driving the growth of this application segment.
The hospital segment will continue to dominate the contrast media injector end-user market during the forecast period.
Based on end-user, the contrast media injectors market is segmented into hospitals and diagnostic imaging centers. The hospital segment commanded the highest growth rate of the global contrast media injectors market in 2018. The large share of this segment can be attributed to the rising number of diagnostic imaging procedures performed in hospitals and the growing inclination of hospitals towards the automation and digitization of radiology patient workflow. Increasing adoption of minimally invasive procedures (including diagnostic imaging systems) in hospitals to improve the quality of patient care, and the rising adoption of advanced imaging modalities to improve workflow efficiency in hospitals will also drive market growth.
The contrast media injector market in Asia Pacific is expected to witness the highest growth rate during the forecast period.
Geographically, the contrast media injector market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period, primarily due to factors such as the rising R&D investments and favorable demographic scenario in China, rising aging population and cancer incidence in Japan. Growing investment in the Indian radiology market and increasing focus of market players & increasing government support to strengthen healthcare service delivery in other countries are driving the growth of this regional segment.
- Growing Prevalence of Cancer & CVD
- Large Number of Approvals for Contrast Agents
- Increasing Investments, Funds, and Grants by Government Organizations
- High Cost of Contrast Media Injectors, Consumables & Accessories
- IT-Enabled Solutions for Contrast Media Injectors
- Hospital Budget Cuts
- Dearth of Trained Professionals
- Apollo Rt Co. Ltd.
- Bayer AG
- Bracco Imaging S.P.A
- Guerbet Group
- Medtron AG
- Nemoto Kyorindo Co. Ltd.
- Shenzen Seacrown Electromechanical Co. Ltd.
- Shenzhen Anke High-Tech Co. Ltd.
- Sino Medical Device Technology Co. Ltd. (Sinomdt)
- Ulrich GmbH & Co. KG
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