PUBLISHER: The Business Research Company | PRODUCT CODE: 1414138
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414138
“Contrast Media Injectors Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on contrast media injectors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for contrast media injectors? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The contrast media injectors market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Contrast media injectors are advanced medical devices designed for administering contrast media to enhance tissue visibility in medical imaging procedures, ensuring superior accuracy and precision for optimal surgical outcomes.
The primary offerings in the contrast media injectors market include consumables, injector systems, and accessories. Consumables, also known as medical injectors, play a pivotal role in safeguarding against breaks or leaks that could lead to potential harm, injector downtime, or other undesirable incidents. These injectors are integral for conducting safe and consumable imaging procedures in diagnostics. The market features various types of injectors, including single head injectors, dual-head injectors, and syringeless injectors, tailored for applications in radiology, interventional cardiology, and interventional radiology. They find widespread usage in hospitals, diagnostics centers, and ambulatory surgery centers, catering to the diverse needs of medical professionals and contributing to the advancement of imaging precision and diagnostic capabilities.
The contrast media injectors market research report is one of a series of new reports from The Business Research Company that provides contrast media injectors market statistics, including contrast media injectors industry global market size, regional shares, competitors with a contrast media injectors market share, detailed contrast media injectors market segments, market trends and opportunities, and any further data you may need to thrive in the contrast media injectors industry. This contrast media injectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The contrast media injectors market size has grown strongly in recent years. It will grow from $1.6 billion in 2023 to $1.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historical period can be ascribed to several key factors, including a rise in the incidence of chronic diseases, an increase in diagnostic imaging procedures, a growing demand for minimally invasive procedures, the expansion of healthcare infrastructure, and the demographic trend of a growing aging population. These factors collectively contributed to the expansion and development of the healthcare sector during the specified historical timeframe.
The contrast media injectors market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The projected growth during the forecast period is driven by the uptick in interventional radiology procedures, a rising prevalence of cancer, heightened emphasis on patient safety and comfort, the global expansion of healthcare services, and robust regulatory support and compliance. Key trends anticipated in the forecast period encompass the adoption of automation and connectivity, the emergence of dual-head injectors, continuous advancements in injector technology, a steadfast focus on patient safety, increased utilization of interventional radiology procedures, and the continuous enhancement of imaging techniques and modalities.
The anticipated growth of the contrast media injectors market is set to be propelled by the increasing incidence of cancer and cardiovascular diseases (CVD). Cancer, characterized by uncontrolled cell growth and dissemination, and CVD, impacting the heart or blood vessels, are driving factors for the market. Contrast media injectors play a crucial role in diagnostic imaging, enhancing image quality, ensuring patient safety, and improving blood flow and tissue perfusion. Notably, statistics from the American Cancer Society reveal a 3.16% growth in cancer cases from 1,898,160 in 2021 to 1,958,310 in January 2023. Additionally, the World Heart Federation reports that over 500 million individuals globally will be affected by cardiovascular diseases in April 2023, leading to 20.5 million fatalities in 2021, constituting nearly one-third of total global mortality. This surge in cancer and CVD cases is a significant driver for the contrast media injectors market.
The growth of the contrast media injectors market is expected to be bolstered by the escalating demand for non-invasive diagnostic procedures. Non-invasive diagnostic procedures, which do not physically penetrate the body, are gaining popularity. Contrast media injectors play a pivotal role in such procedures, especially in techniques such as computed tomography (CT) scans and magnetic resonance imaging (MRI). For example, data from Definitive Healthcare LLC reveals that in 2021, the most performed non-invasive vascular procedure was the unilateral duplex scan of extremity veins, with 2.67 million procedures, and approximately 2.16 million bilateral duplex scans of extremities vein procedures were conducted. Additionally, according to the National Health Service, in August 2021, there were 1.6 million X-ray procedures and 0.72 million ultrasound procedures performed. Consequently, the escalating demand for non-invasive diagnostic procedures is a key driver for the growth of the contrast media injectors market.
Strategic partnerships are emerging as a prominent trend within the contrast media injectors market. Major companies in this sector are actively engaging in collaborations to foster new relationships, particularly those involving similar product developments. An illustrative example is the collaboration between Qaelum NV, a Belgium-based provider of advanced dose and contrast management software solutions, and Ulrich GmbH & Company KG, a France-based surgical instruments manufacturer and distributor. By pooling their resources, these companies aim to integrate Qaelum NV's advanced contrast management solution with Ulrich Medical's contrast media injectors, thereby addressing the requirements of hospitals and imaging networks. This partnership model demonstrates the industry's commitment to enhancing collaborative efforts for mutual benefit.
Key players in the contrast media injector market are directing their efforts towards the development of innovative products, such as generic contrast media injectables. These pharmaceutical products, containing contrast agents, play a pivotal role in enhancing visibility during medical imaging procedures such as CT scans and MRIs. Notably, Fresenius Kabi, a Germany-based pharmaceutical company, introduced two novel drugs in August 2023. The first, Gadobutrol Injection, is a gadolinium-based contrast agent tailored for MRI use, expanding Fresenius Kabi's radiology portfolio. The second, Plerixafor Injection, serves as a hematopoietic stem cell mobilizer, complementing the company's extensive collection of generic injectable oncology medicines. This strategic focus on product innovation underscores the industry's commitment to gaining a competitive edge and broadening its customer base.
In November 2022, GE HealthCare Technologies Inc., a prominent US-based manufacturing company, entered into a partnership with Ulrich GmbH & Co. KG. The primary objective of this collaboration is to introduce multi-dose contrast media injectors in the U.S. market and bolster the sales of CT motion injectors. Ulrich GmbH & Co. KG., based in France, specializes in the development, production, and distribution of spinal systems and contrast medium injectors. This collaboration exemplifies GE HealthCare Technologies Inc.'s strategic approach to expanding its market presence and leveraging the expertise of partners to enhance its product offerings, particularly in the realm of contrast media injectors.
Major companies operating in the contrast media injectors market report are The Bracco Group, Bayer AG, Medtron AG, Ulrich GmbH And Co. KG, General Electric Company, Nemoto Kyorindo Co. Ltd., Guerbet Group, Sino Medical-Device Technology Co. Ltd., Apollo RT Co.Ltd., Shenzhen Anke High-tech Co. Ltd., Hilin Life Products Inc., Sanofi S.A, Novartis AG, Vivid Imaging, AngioDynamics. Inc., Taejoon Pharmaceutical Co. Ltd., Hong Kong Medi Co Limited, Medrad Inc., TaeWoong Medical Co. Ltd., Medtronic Plc, Covidien, ACIST Medical Systems, Boston Scientific Corporation, Mallinckrodt Pharmaceuticals, Lantheus Medical Imaging Inc., Imaxeon Pty Ltd., Nano-Ditech Corp.
North America was the largest region in the contrast media injectors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global contrast media injectors market report during the forecast period. The regions covered in the contrast media injectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the contrast media injectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The contrast media injectors market consists of sales of empower CTA+, hydraulic-powered MR injectors, computed tomography (CT) injectors, and syringe devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.