Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Contrast Media Injectors Market – Insights
Contrast media injectors are devices used to administer or insert contrast media into the patient’s body to enhance visibility of tissues prior to medical imaging procedure such as computed tomography (CT) scan, magnetic resonance imaging (MRI) scan, ultrasound scan, and X-ray.
The global contrast media injectors market is estimated to account for US$ 2,000.7 Mn in terms of value and 49,381 units in terms of volume by the end of 2027.
Global Contrast Media Injectors Market: Drivers
Increasing prevalence of cancer is expected to boost growth of the global contrast media injectors market over the forecast period. For instance, according to the World Health Organization, cancer is the second leading cause of death worldwide and is resulted in around 9.6 million deaths in 2018.
Moreover, increasing investment by government and private organizations in contrast media injectors and treatment and management of chronic diseases is also expected to boost growth of the market. For instance, in December 2019, the Government of Australia announced to invest US$ 5 million in a new funding round for research into the primary and secondary prevention of cancer through the National Health and Medical Research Council's partnership with the Global Alliance for Chronic Diseases.
Europe region held dominant position in the global contrast media injectors market in 2014, accounting for 37.0% share in terms of volume, followed by North America.
Figure 1. Global Contrast Media Injectors Market Value (US$ Mn), by Region, 2018
Global Contrast Media Injectors Market: Restraints
High cost of contrast media injectors and consumables & accessories is a major factor hindering growth of the global contrast media injectors market over the forecast period. For instance, CT injectors cost between US$ 30,000 and US$ 40,000, while MRI injectors cost between US$ 35,000 and US$ 40,000.
Moreover, there are several side effects associated with contrast media such as stomach cramps, nausea, diarrhea and vomiting (associated with barium sulphate contrast materials). Side effects associated with iodine-based contrast materials include, headache, flushing and mild skin rashes. Such side effects are also expected to hamper growth of the market.
Global Contrast Media Injectors Market: Opportunities
Key players in the market can focus on developing contrast media injectors with soft bag technology to expand their market share. Use of soft bag technology in contrast media injectors offers several benefits such as gentle media insertion with maximum comfort to patients, easier handling, software-guided protocol, reduced handling time, and reduced chances of formation of air emboli.
Moreover, key players in the market can also focus on developing improved software for better contrast media delivery. Software-guided contrast media injectors offer several advantages such as pre-installed protocol, increased accuracy of outcomes, potential increase in contrast media utility, uniform distribution of contrast media, and contrast media management.
CT Injectors segment in the global contrast media injectors market was valued at US$ 514.4 Mn in 2018 and is expected to reach US$ 864.6 by 2027 at a CAGR of 6.0% during the forecast period.
Market Trends/Key Takeaways
The global contrast media injectors market is witnessing increasing adoption of syringeless power injectors, owing to their advantages such as reduced contrast media wastage and higher efficiency compared to dual-syringe injectors.
Moreover, key players in the market are focused on product approval and launch to expand their product portfolio. For instance, in May 2018, General Electric received the U.S.FDA indication approval for Visipaque (iodixanol) injection for use with coronary CT angiography.
Global Contrast Media Injectors Market: Competitive Landscape
Major players operating in the global contrast media injectors market include, General Electric, Mallinckrodt, Guerbet SA, Bayer AG, Bracco Imaging S.p.A., Ulrich GmbH & Co. KG, Medtron, and Nemoto Kyorindo Co. Ltd.
Global Contrast Media Injectors Market: Key Developments
Key players in the market are focused on launching new products to expand their product portfolio. For instance, in November 2019, Bracco Diagnostics Inc. launched new contrast media and device offerings at the 2019 Radiological Society of North America (RSNA) Annual Meeting.
In November 2019, General Electric Healthcare launched Serena Bright, a contrast-enhanced mammography solution for biopsy.