Growth of the contrast media injectors industry includes a large number of approvals for contrast agents, increasing investments, funds, and grants by government organizations, and rising demand for early diagnosis and widening the scope of clinical applications. However, the reluctance to adopt new technologies, and a shortage of trained professionals, will challenge market growth.
The contrast media injectors market is projected to reach USD 2.4 billion by 2024 from USD 1.8 billion in 2019, at a CAGR of 6.1%.
Segmentation of Contrast Media Injector Market Report
Contrast Media Injector Market, by Product
The contrast media injectors market is segmented into injector systems, consumables, and accessories. 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
Contrast Media Injector Market, by Application
The contrast media injectors market is segmented into radiology, interventional radiology, and interventional cardiology. In 2018, the radiology segment accounted for the largest share of the contrast media injectors market. The rising number of radiology procedures using contrast media is driving the growth of this application segment.
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Contrast Media Injector Market, by End User
The contrast media injectors market is segmented into hospitals and diagnostic imaging centers. The key factors contributing to the growth of diagnostic imaging centers is the increase in the number of private imaging centers (fueled by the rising demand for early diagnosis and diagnostic imaging) and lack of imaging modalities in small and mid-scale hospitals.
Contrast Media Injector Market, by Region
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.
Market Overview – Contrast Media Injectors Market
- Increasing Prevalence of Cancer and CVD
- Regulatory Approval of A Growing Number of Contrast Agents
- Increasing Investments, Funds, and Grants By Government Organizations
- High Cost of Contrast Media Injectors, Consumables, and Accessories
- It-Enabled Solutions for Contrast Media Injectors
- Hospital Budget Cuts
- Dearth of Trained Professionals
Leading Companies for Contrast Media Injectors Market
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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