Contrast Media Injectors Market

Contrast Media Injectors Market Size (2023 to 2028)

The worldwide market for contrast media injectors is predicted to be worth 1.92 billion by 2028 from USD 1.3 billion in 2023, growing at a CAGR of 8.11% from 2023 to 2028.

MARKET DRIVERS:

The growing prevalence of chronic diseases requiring diagnostic imaging procedures, technological advancements in contrast media injectors, such as the development of automated systems, increasing demand for minimally invasive procedures and precision medicine, rising geriatric population prone to various health conditions and imaging needs and expansion of healthcare infrastructure and facilities globally primarily drive the growth of the contrast media injectors market. The growing awareness about early disease detection and diagnosis, rising healthcare expenditure, increasing number of government initiatives to improve medical services, rapid adoption of advanced imaging techniques, such as CT and MRI scans, rising preference for digital imaging over traditional analog systems and the introduction of new contrast agents with improved safety profiles propel the market growth.

The integration of contrast media injectors with imaging systems for seamless workflow, expansion of private diagnostic imaging centers and clinics, the growing demand for contrast-enhanced imaging in oncology and cardiology, emerging markets in developing regions with rising healthcare investments and growing number of collaboration and partnerships between manufacturers and healthcare providers fuel the growth rate of the contrast media injectors market.

Factors such as the rising demand for contrast media injectors in research and academic institutions, regulatory support for the development and commercialization of imaging devices, integration of artificial intelligence (AI) and machine learning algorithms in imaging technology, growing focus on patient safety and reduction of radiation exposure during imaging procedures and continuous product innovations and product launches by key market players further boost the market growth.

MARKET RESTRAINTS:

High cost associated with contrast media injectors and imaging procedures, stringent regulations and compliance requirements for medical devices and potential adverse reactions and side effects of contrast agents majorly limit the market growth. Limited reimbursement policies for certain imaging procedures, lack of skilled healthcare professionals proficient in operating contrast media injectors and concerns regarding radiation exposure during imaging procedures hamper the market growth. The availability of alternative imaging modalities or techniques, limited access to advanced healthcare facilities in certain regions and product recalls or safety issues associated with contrast media injectors further inhibit the market’s growth rate.

Impact of COVID-19 on the contrast media injectors market:

The COVID-19 pandemic has been a major global health crisis and has had a profound economic impact on most countries affected by the pandemic. The elective procedures have had to postpone or cancel during COVID-19 as the priority has been given to attending to the patients suffering from COVID-19 and this has resulted in the declining demand for contrast media injectors as imaging procedures were limited. The number of imaging procedures was further reduced during the COVID-19 pandemic due to the reduced number of patients visiting healthcare facilities for treatment needs unless emergency situations and this also resulted in the reduced demand for contrast media injectors. Likewise, the global market for contrast media injectors has experienced a negative impact from the COVID-19 pandemic. The market is likely to return to normal when the global situation improves.

REPORT COVERAGE:

This market research report on the global contrast media injectors market has been segmented and sub-segmented into the following categories.

Contrast Media Injectors Market - By Product:

• Injector Systems
• Consumables

Based on the product, the injector systems segment is anticipated to account for the major share of the global market during the forecast period. The growing demand for advanced imaging techniques and procedures, technological advancements, increasing prevalence of chronic diseases and growing need for accurate diagnosis primarily drive the segmental growth. Factors such as the rapid adoption of minimally invasive procedures, improving healthcare infrastructure and access to advanced medical devices, and expansion of the radiology and diagnostic imaging sector further fuel the growth rate of the segment.

The consumables segment is expected to witness a healthy CAGR during the forecast period. High demand for contrast agents and other consumables in imaging procedures, a growing number of diagnostic and interventional procedures, rising prevalence of cardiovascular and neurological diseases, increasing awareness about the benefits of early disease detection and diagnosis, continuous product innovations and improvements in contrast media formulations and rising geriatric population and their higher susceptibility to chronic diseases further favor the growth rate of the consumables segment.

Contrast Media Injectors Market - By Type of Injectors:

• Single-head Injectors
• Dual-head Injectors
• Syringeless Injectors

Based on injectors type, the single-head injectors segment is predicted to capture the dominating share of the global market during the forecast period. The growing demand for cost-effective and compact injector systems, wide application of single-head injectors in routine imaging procedures, rapid adoption of single-head injectors in outpatient settings and clinics and an increasing number of advancements in single-head injector technology primarily drive the segmental growth. The growing prevalence of chronic diseases and the increasing need for diagnostic imaging further fuel the growth rate of the segment.

The syringeless injectors segment is anticipated to showcase a healthy CAGR during the forecast period owing to the elimination of manual syringe loading and reduced risk of contamination and higher accuracy and precise contrast media delivery. The growing preference for automated and user-friendly systems, increasing demand for contrast-enhanced imaging in oncology and vascular procedures and rising number of advancements in syringeless injector technology and software integration further contribute to the growth rate of the segment.

Contrast Media Injectors Market - By Application:

• Radiology
• Interventional Cardiology
• Other Applications

Based on the application, the radiology segment is expected to lead the market during the forecast period. The growing demand for diagnostic imaging, rising prevalence of chronic diseases, increasing number of advancements in imaging technologies, and growing need for enhanced image quality drive the growth of the radiology segment. The rising emphasis on early detection and accurate diagnosis of various conditions, the growing geriatric population and the subsequent increase in age-related diseases and expansion of radiology services in developing regions contribute to the growth of the radiology segment.

The interventional cardiology segment accounted for a considerable share of the global market in 2022 and is estimated to grow at a healthy CAGR during the forecast period owing to the growing prevalence of cardiovascular diseases and the need for interventional procedures, increasing number of advancements in cardiac imaging techniques and devices and rapid adoption of minimally invasive procedures and catheter-based interventions. The growing demand for precise and controlled delivery of contrast media during cardiac procedures and technological advancements in interventional cardiology equipment further support the growth rate of the interventional cardiology segment.

Contrast Media Injectors Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America is predicted to hold the leading share of the global market during the forecast period owing to the technological advancements in medical imaging, the presence of a well-established healthcare infrastructure, high prevalence of chronic diseases and a large patient population. Favorable reimbursement policies for medical procedures, the growing adoption of advanced imaging techniques and interventional procedures, rising demand for early disease detection and accurate diagnosis, the presence of key market players and ongoing research activities in the North American region further fuel the growth rate of the North American market. The U.S. had the largest share of the North American market in 2022 and is estimated to grow at a healthy CAGR during the forecast period owing to the growing population suffering from CVDs and increasing healthcare spending.

Europe accounted for a substantial share of the global market in 2022 and is predicted to register a notable CAGR during the forecast period. The growing geriatric population and the increasing patient population suffering from chronic diseases in Europe primarily drive the growth of the European market. The growing number of advancements in healthcare infrastructure and imaging technologies, favorable government initiatives and reimbursement policies and rising demand for accurate diagnosis and effective treatment options fuel the growth rate of the European market. The presence of prominent medical device manufacturers and research institutions and the rapid adoption of digitalization and electronic health records (EHRs) in healthcare support the growth of the European market. The UK led the market in Europe in 2022, followed by Germany and France. The UK market is predicted to showcase a healthy CAGR during the forecast period owing to the high healthcare expenditure and advanced healthcare systems.

APAC is anticipated to register the fastest CAGR among all the regions in the worldwide market during the forecast period. The rapidly growing healthcare infrastructure, increasing healthcare spending, the growing prevalence of chronic diseases, the increasing aging population, growing number of initiatives from the governments of APAC countries to improve healthcare access and affordability majorly drive the growth of the APAC market. The growing adoption of advanced medical imaging technologies, expansion of the private healthcare sector and medical tourism and rising awareness and acceptance of interventional procedures further contribute to the growth rate of the APAC market. China and India are predicted to hold the major share of the APAC market during the forecast period due to the growing investments in healthcare infrastructure and technological advancements.

Latin America held a considerable share of the global market in 2022 and is expected to witness a healthy growth rate during the forecast period. The growing healthcare expenditure, improving healthcare infrastructure, increasing prevalence of chronic diseases, improving access to medical services, the growing number of initiatives from the Latin American governments to enhance healthcare services and access to advanced medical technologies drive the Latin American market growth. Brazil held the leading share of the Latin American market in 2022, followed by Mexico.

MEA captured a moderate share of the global market in 2022 and is estimated to grow steadily during the forecast period.

KEY MARKET PLAYERS:

Bayer AG, Bracco Imaging S.P.A., Guerbet Group, Ulrich GmbH & Co. KG, Nemoto Kyorindo Co., Ltd, Sino Medical-Device Technology Co., Ltd., APOLLO RT Co. Ltd., Shenzhen Anke High-tech Co. Ltd, Shenzen Seacrown Electromechanical Co Ltd. and Medtron AG RT Co. Ltd. are some of the major players in the global contrast media injectors market.

RECENT HAPPENINGS IN THE MARKET:

• In December 2021, Guerbet and Bracco Imaging jointly announced a global collaboration for Gadopiclenol. The primary objective of this collaborative effort is to design and produce an MRI contrast media injector.
• In December 2021, a strategic partnership was formed between Qaelum NV and Ulrich GmbH & Co. K.G. in Ulm. The primary objective of the association was to amalgamate the proficiency of both organizations to furnish assistance for hospitals and imaging networks.
• In May 2021, Bayer AG disclosed a strategic partnership with ArcherDX, to concentrate on the progression and commercialization of companion diagnostics (CDx) for Vitrakvi ™. The collaboration aims to advance and market therapy accompanying diagnostics test, which is a type of CDx. The methodology employed in this study is based on next-generation sequencing (NGS) technology.