Contrast Injectors Market: Increasing Investments, Funds, and Grants by Government Organizations

Contrast Media Injectors Market

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.

According to the new market research report by MarketsandMarkets, the global contrast media injector market size is projected to reach $1.9 billion by 2025. Contrast injector market report provides crucial industry insights that will help your business grow.

Globally, there has been a significant increase in the number of people suffering from cancer. , the number of people suffering from cancer is expected to increase by 50% to 15 million by 2020 (Source: World Cancer Report, 2003 by WHO). Similarly, CVDs and strokes are the leading causes of death around the world. According to the World Health Organization (WHO), CVDs are the major cause of death globally.

The WHO estimated that in 2015, approximately 17.7 million people died of CVDs, which represented 31% of the global deaths; this number is estimated to increase to 23.6 million by 2030. 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.

The cost of contrast media injectors varies with the type of injectors (single-head, dual-head, and syringeless injectors) preferred by hospitals. For instance, the GE-Nemoto Dual Shot NCOM (Class 4) CT Injector – Pedestal Mount costs ~USD 40,600, while the GE-Nemoto Dual Shot NCOM (Class 4) CT Injector – Ceiling Mount for Long costs around USD 45,000. The cost of consumables is recurring as the same tube and syringe cannot be reused, considering hygiene and safety issues. This is a major burden for end users, as tubes and syringes cost USD 350–500 each, thus escalating the cost of using contrast media injector systems.

COVID-19 impact on the Global Contrast Injectors Market

The Covid-19 pandemic has had a devastating global impact on the health of the population as well as huge economic impact on most of the countries. The Pandemic has put a huge strain on the healthcare systems around the world. During this period, health care institutions and providers have been instructed to stop performing elective surgical procedures and medical examinations to slow the spread of disease and conserve health care resources for COVID-19 patients. Many radiology departments have experienced a rapid decline in imaging case volume. Radiology practices should anticipate 50% to 70% decreases in imaging volume that will last a minimum of 3 to 4 months, depending on the location of practice and the severity of the COVID-19 pandemic in each region. While the future looks uncertain due to Covid-19. The demand for contrast injectors will mostly depend on the diagnostic imaging volume and installations of CT & MRI. Few months down the line we can expect the demand for diagnostic imaging to return to normalcy which could also led to recovery of demand for contrast injectors. The Covid-19 will have a major impact on the contrast media injector market in the 2020 with around 20% decrease in sales. The market will likely return to peak levels of 2019 by 2022.

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Opportunity: IT-enabled solutions for contrast media injectors

Contrast media injectors are now enabled with an LCD screen to maintain flow rates and monitor patient status. Also, market players are introducing new software for injector systems that can generate data in real-time. Information such as contrast media flow rate, injection pressure, injection speed, and type of contrast media can be easily accessed through this software. The IT department of a hospital can connect this software directly to their hospital information systems or electronic medical records and access patient data from picture archiving and communication systems. This reduces the time, error rate, and effort to upload statistical data and images manually.

Challenge: Dearth of trained professionals

A high degree of technical skill and expertise is required to handle advanced and sophisticated diagnostic imaging systems. According to the US Bureau of Labor Statistics, radiology technicians may witness employment growth of about 21% between 2012 and 2022. Although this is significant, the dearth of specialists and radiologists is an important challenge for countries across the globe.

North America accounted for the largest share of the Contrast Media Injector market in 2018, while the Asia Pacific market is expected to register the highest growth 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. Asia Pacific 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.

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Which application segment will dominate the contrast media injector market in the future?

The radiology segment . The rising number of radiology procedures using contrast media is driving the growth of this application segment.. The rising number of radiology procedures using contrast media is driving the growth of this application segment.

Key Players 

Major players in this market include 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. (Hongkong), Shenzhen Anke High-tech Co. Ltd (China), Shenzen Seacrown Electromechanical Co Ltd. (China), and Medtron AG (Germany).

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