Future Market Insights (FMI), in its latest report titled ‘Contrast Media Injectors Market: Global Industry Assessment and Forecast, 2015-2025’, has projected the global contrast media injectors market revenue to expand at a CAGR of 5.6% during the forecast period (2015-2025).
The global contrast media injectors market was valued at US$ 979.5 Mn and accounted for 3.0% share of the global diagnostics imaging devices market in 2014. Revenue contribution of contrast media injectors market to the global diagnostics imaging devices market is expected to increase to US$ 1,773.4 Mn by the end of 2025, expanding at a CAGR of 5.6% in terms of value during the forecast period. Continuous adoption of contrast media injectors for contrast media insertion owing to benefits on offer such as increased patient safety, reduced contrast media wastage and increasing demand for early diagnosis of chronic diseases are expected to positively affect growth of the contrast media injectors market across the globe. Global contrast media injectors market has been estimated to be valued at US$ 1,029.2 Mn in 2015, mainly driven by increasing adoption of contrast media injectors in the field of oncology and cardiology.
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The report analyses the global contrast media injectors market in terms of market value (US$ Mn) and market volume (units) by product, region and end user, and provides information regarding market dynamics, competitive landscape, current trends, market estimation and forecast.
Adoption rate of contrast media injectors amongst physicians has increased significantly, owing to technological advancements and benefits such as superior prognosis of medical condition due to enhanced quality of images obtained post contrast media insertion. Emergence of alternative techniques for diagnosis of disease such as cancer and side effects caused due to contrast media are certain factors that are expected to hamper growth of the global contrast media injectors market to a certain extent. Major trends in the contrast media injectors market include increased adoption of syringeless contrast media injectors for reduction of contrast media wastage, introduction of advanced software to make the device more user friendly and consistent investment in research and development.
North America dominated the contrast media injectors market with over 33.5% share in terms of value in 2014, and is expected to remain dominant throughout the forecast period. The contrast media injectors market in APEJ and Japan are expected to register robust CAGRs of 5.7% and 5.8% respectively, in terms of value, during the forecast period. Western Europe and Eastern Europe are expected to lose revenue share over the forecast period, as contrast media injectors market is relatively mature in these regions due to increasing adoption of alternative techniques for diagnosis of chronic diseases.
On the basis of product type, contrast media injectors market is segmented into CT injectors, MRI injectors and cardiology injectors. In terms of volume growth, CT injectors segment is expected to account for the maximum share in the market. MRI injectors segment is expected to register highest CAGR over the forecast period, in terms of volume. CT injectors segment is expected to dominate the global contrast media injectors market, in terms of revenue, owing to increasing adoption of combination systems. In terms of volume and value, cardiology injectors segment is expected to register lowest CAGR over the forecast period.
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On the basis of end user, contrast media injectors market is segmented into hospitals, ambulatory surgical centres and diagnostics centres. In terms of value and volume, diagnostics centres segment is expected to register lowest CAGR during the forecast period. Hospitals segment revenue growth is majorly driven by increasing installations of imaging modalities in hospitals. Increasing adoption of contrast media injectors among physicians for early diagnosis of chronic disease, especially in the field of oncology and cardiology is fueling revenue growth of the contrast media injectors market.
Some of the key market participants included in the report are Mallinckrodt, Guerbet SA, Bayer AG, Bracco Imaging S.p.A., Ulrich GmbH & Co. KG., Medtron AG and Nemoto Kyorindo Co. Ltd.