Contrast Injector Systems Market Expected to Reach $1.5 Billion by 2030

According to a new report published by Allied Market Research, titled, “Contrast Injector Systems Market," The contrast injector systems market was valued at $755.57 million in 2020, and is estimated to reach $1.5 billion by 2030, growing at a CAGR of 7.3% from 2021 to 2030.

Contrast injector system is a medical diagnostic device that uses a contrast medium to create visual representations of the human body's interior to diagnose, monitor, or treat clinical problems. Computed tomography, magnetic resonance imaging, and angiography are three of the most common imaging procedures. When compared to typical image processing, the contrast media improves the contrast structures or visibility of fluids within the body. It is utilized to make blood vessels and the gastrointestinal tract more visible.

Increase in imaging procedures, owing to the rapid incidence of various chronic diseases, such as cancer, heart diseases, Alzheimer’s, and dementia is expected to drive the contrast injector systems market size. In addition, rise in increase in geriatric population and high prevalence of chronic diseases globally, boost the market growth. However, high cost of contrast injectors systems and high risk associated with contrast injector systems are expected to impede the growth in contrast injector systems market forecast. Moreover, surge in healthcare expenditure and emergence of complex diseases in developing countries are expected to create lucrative opportunities for key market player and driving the contrast injector systems industry.

On the basis of product type, the contrast injector systems market analysis is categorized as injector systems, consumables, and accessories. The consumable segment is expected to dominate the contrast injector systems market size during the forecast period, owing to the growth in number of imaging procedures, such as CT, MRI, and angiography. The injector systems segment is expected to register a CAGR of 7.6% during the forecast period. Rise in incidence of chronic ailments, such as various types of cancer, Alzheimer’s, and dementia is expected to create a demand for diagnostic procedures for precise treatment, which is expected to drive the growth of the market during the forecast period.

On the basis of application, the interventional radiology segment accounted for a major share of the market share in the global contrast injector system market in 2020. This segment is expected to exhibit a prominent growth rate, owing to reduced risks, lower cost, higher level of comfort, shorter hospital stays, and quicker recovery. These factors driving the contrast injector systems market size.

On the basis of end user, the hospital segment accounted for a major share of the market share in the global contrast injector system market in 2020. This segment is expected to exhibit a prominent growth rate, as the onset of complex diseases among the population base has necessitated the need for detailed examination and early diagnosis pattern of diseases, in turn increasing the installation for contrast injector systems. This has further led to rise in number of procedures performed, especially CT scan, thus, supplementing the growth of this segment.

North America accounted for more than 7.5% of the global market share in 2020, and is expected to remain dominant during the forecast period. This was attributed to the research activities for contrast injector system, which are soaring in North America, owing to the well-established healthcare facilities, recent technological advancements, and rise in demand for early diagnosis of chronic diseases due to increase in awareness regarding contrast injectors. Asia-Pacific is projected to register the highest CAGR of 8.1% during the forecast period, owing to increase in incidence of population suffering from various chronic diseases, such as cancer, heart diseases, Alzheimer’s, and dementia and rise in ageing population. In addition, increase in healthcare expenditure offers a lucrative opportunity for the contrast injector systems market share.

The major companies profiled in the report include, Bracco Imaging S.p.A, Bayer HealthCare, Guerbet Group, Medtron AG, Ulrich GmbH & Co. KG, GE Healthcare, Shenzhen Seacrown Electromechanical Co., Ltd, Nemoto Kyorindo Co. Ltd., Sino Medical- Device Technology Co., Ltd., and Vivid Imaging.

KEY FINDINGS OF STUDY

• By product type, the consumables segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 7.2% from 2021 to 2030.
• By application, interventional radiology is projected to grow at a CAGR of 7.0% during the forecast period.
• By end user, the hospital segment is expected to experience growth at the highest rate, registering a CAGR of 7.4% during the forecast period.
• Region-wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 8.1% during the forecast period.