Contrast Media Injectors Market

Global Contrast Media Injectors Market Outlook (2022-2032)

With a Y-o-Y growth rate of 7.1%, the global contrast media injectors market is estimated at US$ 1.5 Billion in 2022, as against US$ 1.4 Billion in 2021. With the growing prevalence of cancer and rising investments, the market is expected to garner US$ 3.1 Billion in 2032, reflecting a CAGR of 7.4% from 2022 to 2032. The market is anticipated to yield absolute dollar growth of US$ 1.6 Billion by 2032.

Increased funding, investments, and grants from government organizations are expected to propel market growth in the forecast period. The increasing geriatric population and the growing number of radiology procedures using media contrasts are other vital factors contributing to the expansion of industry in the assessment time.

Moreover, increased awareness among physicians regarding patient safety during contrast media insertion has motivated players to advance and develop the safety parameters in contrast media injectors. Owing to the aforementioned factors, the market is likely to flourish significantly in the forecast period.

Report Attributes	Details
Estimated Base Year Value (2021)	US$ 1.4 Billion
Expected Market Value (2022)	US$ 1.5 Billion
Predicted Forecast Value (2022-2032)	US$ 3.1 Billion
Anticipated Market Value of the U.S (2032)	US$ 1.1 Billion
Expected Market Value of the U.K (2032)	US$ 134.1 Million
Projected CAGR of China (2022-2032)	6.6%
Key Players in the Global Contrast Media Injectors Market	Guerbet Group Bracco Group Medtron AG Ulrich GmbH & Co. KG Bayer HealthCare LLC.

The contribution of segments is notable in developing the market. Based on product, the consumables segment is expected to take lead in strengthening the market during the forecast period. The segment is expected to experience the maximum growth rate in the assessment period.

This expansion can be attributed to the increasing demand for consumables to assure hygiene and safety during diagnostic procedures. Also, they’re witnessing significant demand in the diagnosis of cancer and vascular diseases, among others.

Global Contrast Media Injectors Market Revenue Analysis 2015-2021 Vs Future Outlook 2022-2032

From 2015 to 2021, the global contrast media injectors market is likely to have expanded at a CAGR of 8%. The growth of the market during the aforementioned timeframe is likely to have occurred owing to the growing demand for minimally invasive surgeries and the ongoing technological development in contrast media injectors.

For instance, in February 2016, Guerbet announced the U.S FDA clearance for the OptiOne single-head contrast delivery system. The entry-level single-head injector is designed for the injection of radiopaque CT contrast agents into the vascular system. Such instances are expected to have propelled the market growth during the aforementioned time period.

During the forecast period 2022 to 2032, the global contrast media injectors market is anticipated to exhibit a growth rate of 7.4%. Expansion of the market can be attributed to the increasing number of radiology procedures using contrast media and the increasing focus on patient safety. Also, the increasing introduction of smart injectors is expected to benefit the market in the forecast period.

For instance, Bracco developed smart syringeless injectors, which can use every drop of contrast loaded into the system. Also, emerging markets in Asian countries are expected to offer strong remunerative opportunities to the market in the assessment period. Thus, accredited to the aforementioned strong factors, the market for global contrast media injectors is expected to flourish notably during the stint 2022- to 2032.

Major Contrast Media Injectors Growth Drivers

Increasing Prevalence of Cancer and CVD to Boost the Market

As per WHO, CVDs and strokes are the major causes of death across the globe. The organization estimated that in 2015, about 17.7 million people died due to CVDs, and the number is likely to reach 23.6 million by 2030. Thus, growing cases of cancer and CVD cases are expected to increase the demand for better healthcare facilities, which is expected to benefit the market in the forecast period.

Players in the market are taking various initiatives to launch new products, which can benefit the industry in the forthcoming period. Also, with growing product approvals, the market will flourish notably. In Feb 2021, contrast media injectors were approved for breast cancer imaging diagnostics.

The application of a contrast media injector can assure a continuous flow of contrast media. Automated injection of contrast media enables efficient workflow. Such initiatives in the industry are likely to augment the market size in the coming period.

Growing investments by government and private organizations in contrast media injectors to manage chronic illness such as cancer is expected to expand the market size in the coming years.

For instance, in December 2019, the Government of Australia announced to invest of US$ 5 Million in new funding for research into primary and secondary prevention of cancer through the National Health and Medical Research Council’s partnership with the Global Alliance for Chronic Diseases. Such factors are expected to provide lucrative opportunities for market expansion during the forecast period.

IT-Based Solutions to Expand Marker Reach in the Forecast Period

Contrast media injectors have been enabled with an LCD screen to monitor patient status. Implementation of advanced technology is expected to provide strong growth opportunities in the future. Bracco launched the EmpowerCTA injector System that meets the demands of computed tomography.

It offers an efficient workflow that simultaneously operates dual syringes, auto initialization for the preparation of syringes for filling, and protocol fill which fills syringes automatically to volumes based on the selected protocol.

Market players deploying new software for injector systems that can offer real-time data. Players in the industry are partnering with each other, which is expected to drive the market in the coming time. Mallinckrodt launched an OptiSync data management system. It analyses radiology data when a patient undergoes a contrast-media enhanced CT imaging procedure.

Key Challenges Impeding the Contrast Media Injectors Market

High Costs Associated with Contrast Media Injectors to Hamper the Market

The cost associated with contrast media injectors is expected to hamper the market growth during the forecast period. Besides, the price of consumables is recurring since the same syringe and tube cannot be used again, which is another factor hampering the market growth in the coming time. The cost of tubes and syringes cost as high as US$ 350-500 each, thereby, limiting their demand among healthcare professionals.

Also, lack of expertise is projected to be another factor affecting the market negatively during the assessment period. However, with growing development in the equipment and deployment of advanced technology, the market is likely to witness significant growth in the forecast period.

Country-Wise Analysis

What are the Growth Prospects in the U.S?

Advanced Healthcare Facilities to Drive the Regional Market

North America is expected to dominate the market during the forecast period. As per the analysis, the U.S is expected to dominate the global and regional market in the forecast period. The country is estimated at US$ 1.1 Billion while displaying a CAGR of 6.8% during the timeframe of 2022- to 2032. This domination can be attributed to the presence of developed healthcare infrastructure and the prevalence of chronic diseases in the region.

Deployment of IT-based solutions in the sector is expected to offer significant opportunities to the U.S market in the coming time. Growing strategic collaborations in the industry can bolster market growth in the forecast period.

For instance, Ulrich Medical, a Germany-based medical technology company, presented a version of its CT motion contrast media injector for the U.S market. It was approved by FDA and marketed by GE Healthcare in strategic collaboration

Additionally, favorable reimbursement policies, a growing geriatric population, and increasing chronic illness among the aging baby boomers are other vital factors expected to drive the market in the forecast period. Besides, the healthcare infrastructure of the U.S is well-known and established in terms of innovation and product development.

Owing to the aforementioned factors, the market in the U.S is expected to display various opportunities for expansion, thereby, expanding the size of the regional market in the forecast period.

Why is APAC anticipated to be a lucrative market during the Assessment Period?

Development in Healthcare Sector among Emerging Economies to Boost the Market in APAC

According to the analysis, the market in APAC is expected to be the most remunerative market during the forecast period. China is projected to take the lead while securing a market value worth US$ 210.5 Million. Other important markets highlighted as per the observations are Japan and South Korea.

Japan is expected to garner US$ 174.7 Million while South Korea is estimated at US$ 102.5 Million by the end of 2032. The growth of the regional market can be attributed to the increasing efforts of the emerging nations to develop their healthcare infrastructure. Moreover, India has also been taking various initiatives to develop its diagnostic imaging sector, which is projected to benefit the market during the forecast period.

Rising R&D and expanding geriatric population are other salient factors driving the market in the region in the assessment period. Further, favorable initiatives taken by the governments are anticipated to propel the industry growth in the forecast period. For instance, under the Indian government initiative, the National Health Mission launched Free Essential Diagnostics. Such steps are expected to expand the market size in the assessment period.

Other factors that support the growth of the regional market are ongoing technical development, increasing expenditure on healthcare, and expanding the geriatric population across the region. Owing to the aforementioned factors, the market in APAC is expected to witness growth opportunities in the forecast period.

Country	Estimated CAGR
U.S	6.8%
U.K	6.3%
China	6.6%
Japan	5.9%
South Korea	5.3%

Category-Wise Analysis

What is the Contribution of Application Segment in Driving the Global Contrast Media Injectors Market?

Radiology Segment to Boost the Market in the Forecast Period

Based on application, radiology is expected to dominate the market during the forecast period. The segment is projected to expand at a CAGR of 7.8% during the forecast period from 2022 to 2032.

Expansion of the segment can be attributed to the development of diagnostic imaging centers in emerging economies and the growing number of private imaging centers.

Based on End-User, which Category is likely to exhibit Highest Growth?

Diagnostic Imaging Centers to make Extensive Use of Contrast Media Injectors

Based on end-user, the diagnostic imaging centers are expected to dominate the market during the assessment period. The projected CAGR of the segment is 7.1%.

The development of the segment can be attributed to the growing number of cancer and CVD cases. Also, increasing demand for better healthcare infrastructure and advanced diagnostic imaging services are likely to strengthen the segmental growth, thus, expanding the market size in the forecast period.

Competition Analysis

Players in the global contrast media injectors market adopt various strategies to enhance their reach across the globe. Strategies such as; partnerships, collaborations, and acquisitions, among others, are some of those methods.  Recent industry updates are :

• In May 2021, Bayer AG announced a strategic collaboration with ArcherDX, which aims to focus on the advancement and commercialization of therapy-accompanying diagnostics test, also known as companion diagnostics (CDx), for Vitrakvi ™. It is based on next-gen sequencing.
• In December 2021, Guerbet and Bracco Imaging disclosed a strategic collaboration for Gadopiclenol. It is a next-gen magnetic resonance imaging (MRI) contrast agent.
• In December 2021, Qaelum NV announced a strategic partnership with Ulrich GmbH & Co. KG is Ulm to combine their advanced Contrast Management solution with the contrast media injectors of Ulrich Medical to assist the demand for hospitals and imaging networks.

Key Segments Profiled in the Contrast Media Injectors Market Study

• Global Contrast Media Injectors Market by Product :

  • Contrast Media Injector Consumables
    • Syringes
    • Tubes
    • Other Consumables
  • Contrast Media Injector Systems
    • CT Injectors
    • MRI Injectors
    • Angiography Injectors
  • Contrast Media Injectors by Accessories

• Global Contrast Media Injectors Market by Application :

  • Contrast Media Injectors for Radiology
  • Contrast Media Injectors for Interventional Radiology
  • Contrast Media Injectors for Interventional Cardiology

• Global Contrast Media Injectors Market by End User :

  • Contrast Media Injectors in Hospitals
  • Contrast Media Injectors in Diagnostic Imaging Centers

• Global Contrast Media Injectors Market by Region :

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