FMI, an ESOMAR-certified market research firm, estimates global contrast media injectors market revenues to reach US$ 1.5 Bn in 2022. In its new study, FMI takes a long-term optimistic view of the market, estimating global revenues to grow at 6.2% CAGR through 2030. The report opines that AI’s growing penetration in the healthcare sector will also rub off on contrast media injectors industry during the next decade.
Key Takeaways of Contrast Media Injectors Market Study
- North America is expected to be the most lucrative region and account for more than 32% of revenue in the global contrast media injectors in 2022 and this trend is expected to continue during the forecast period
- Larger patient pool and increasing government support towards developing healthcare system in Asian countries are expected to propel the growth of the contrast media injectors market in the region
- AI is expected to speed up the process of injecting contrast media in the forecast period
- Increasing applications in orthopedic surgeries and neurosurgeries to bolster the market in the forecast period
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|Data Points||Market Insights|
|Market Value 2021||USD 1.4 Bn|
|Market Value 2022||USD 1.5 Bn|
|Market Value 2030||USD 2.4 Bn|
|Key Players||The key players are Bayer AG, Nemoto Kyorindo Co. Ltd., Mallinckrodt, Bracco Imaging, Ulrich GmBh, Guerbet SA, Medtron AG,|
New Product Launches and Approval – The Ongoing Trend
The market players are into getting their new products launched as well as approved to stay in the competition and also keep pace with the market scenario (that of continuing to innovate). The constructive steps in this regard are:
- In Apr 2022, Guerbet announced getting approved by the US FDA for manufacturing gadoterate meglumine (Dotarem) injection inside the US. Till late 2019, this production used to happen outside of the US.
- In Nov 2021, the US FDA approved an MRI contrast agent “Clariscan” for intravenous use in spine, brain (intracranial), and associated tissues.
- In Aug 2021, Bracco Diagnostics, Inc. announced getting approved by the US FDA for oral suspension of barium sulfate (Varibar Thin Liquid). The basic use of this contrast agent is detection and assessment of dysphagia.
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What else is in the report?
Future market insights offer actionable insights and unique perspective on contrast media injectors market in its latest study, presenting historical demand assessment from 2014 – 2021 and projections from 2022–2030 based on product type (angiographic injectors, magnetic resonance imaging (MRI) injectors, computed tomography (CT) injectors), by end-user (hospital, ambulatory surgical centres, diagnostics centres) in seven key regions
Companies operating in the contrast media injectors market are competitive by nature, with a presence of few players. These players are involved in a number of strategic alliances.
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The contrast media injector’s market players are trying out every possible mode of organic/inorganic growth to sustain themselves in the market. The product launch and acquisition accelerates the manufacturer’s strategy to capitalize on the market share and capture the significant share of market.
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