Comparative Analysis of the Contrast Media Market Size [2023-2030]
Contrast media injectors inject contrast media or agents into tissues to improve perfusion and blood flow. Injectors are used to reduce waste, allowing for greater patient safety. According to the study, approximately 70% of cath labs still use manual contrast injection systems to draw blood from patients, but advanced technology injectors reduce up to 40% of the contrast used in most procedures, lowering the risk of contrast-induced nephropathy (C.I.N.). Using advanced technology contract media injectors for C.T., M.R.I., and angiography with replaceable and reusable syringes allows for the most efficient use of contrast media.
In 2021, the market value of contrast media injectors was worth USD 2.15 billion, and by 2030 it will reach USD 6.68 billion, growing at a 7.5% CAGR during the forecast period.
The sharp rise in cancer incidence drives the market for contrast media injectors. For instance, the International Agency for Research on Cancer (IARC) estimates that there were 9.5 million cancer deaths and 17.0 million new cases of cancer worldwide in 2018. Due to the rising frequency of risk factors like smoking, poor food, physical inactivity, and fewer pregnancies in economically developing nations, the global market will likely grow in the future.
One of the major drivers driving the market's expansion is the rise in popularity of minimally invasive (MI) medical procedures, which have a number of advantages, including smaller incisions, less postoperative pain, quicker recovery, and shorter hospital stays.
Moreover, automated CM injectors are being used more frequently in cardiac imaging to increase image quality and ensure patient safety. Also, top players are concentrating on providing patients with customized CM doses utilizing data from an electronic medical record (E.M.R.) or a picture archiving and communication system (PACS).
Diseases like breast, lung, colon, rectum, and prostate cancer are extremely prevalent worldwide. This will result in a good outlook for the market in the coming years, along with an increase in the number of regulatory approvals of contrast agents and the major expansion of the healthcare sector.
However, the high expense of contrast media injectors restrains the overall market expansion.
Manufacturers are constantly working to develop new software to analyze real-time data to gain information on flow rate, injection pressure, type of contrast media, and injection speed. All this information eventually helps minimize the risk of error and enhance efficiency.
On the basis of product, the market is segmented into injector systems, consumables, and accessories.
In 2021, the injector systems led the entire market with the largest revenue share of 61.33%. During M.R.I., CT, and angiogram imaging procedures, contrast media are injected into the bloodstream of patients for enhanced imaging of the contrast of fluids or structures within the body. Examples of contrast media injector systems include M.R.I. injector systems, C.T. injector systems, and cardiovascular/angiography injector systems. Amon all, the C.T. injector segment contributes to the largest market share.
It is mainly due to its use in diagnosing and treating vascular disease, orthopedic injuries, and cancer. Furthermore, new product development and technological developments will boost the market's overall growth rate.
On the basis of application, the market is segment into interventional radiology, radiology, and interventional cardiology.
In 2021, the radiology segment held the majority of the market, with a revenue share of nearly 47.39%. In radiology, noninvasive imaging techniques like C.T. and M.R.I. scans produce detailed images. Whereas M.R.I. technology uses a magnetic field to make images inside a patient's body, C.T. scanning uses X-ray equipment to construct a structure of cross-sectional images of the body to identify the origins of a medical illness, particularly in soft tissues.
In terms of end-user, the market is segment into diagnostic imaging centers and hospitals.
The hospital sector led the entire market with 68.07% of the revenue share in 2021. It is due to an increase in patients being admit with neurological disorders, cardiovascular diseases, and cancer. Due to its numerous uses in radiology, interventional radiology, and interventional cardiology, hospitals are the main consumers of contrast media injectors. The market will grow as a result of increase attention being paid to the construction of healthcare infrastructure in developing nations in Asia, the Pacific, and Africa.
In 2021, North America ruled the market and generated more than 38.75% of worldwide revenue. The region's established healthcare facilities, easy access to cutting-edge technology. And strong demand for diagnostic procedures will increase inpatient examinations, which will spur market expansion. Also, due to the high prevalence of catastrophic accidents. And chronic medical conditions, nations like the U.S. and Canada have seen an increase in hospital admissions in recent years. According to the C.D.C., chronic disease is the main cause of disability and mortality.
- Guerbet Group
- G.E. Company
- Bayer Ag
- Nemoto Kyorindo Co., Ltd
- Bracco Imaging S.P.A.
- APOLLO RT Co. Ltd.
- Ulrich GmbH & Co. K.G.
- Sino Medical-Device Technology Co., Ltd.
- Shenzhen Anke High-tech Co. Ltd
- Medtron AG RT Co. Ltd.
- Shenzen Seacrown Electromechanical Co Ltd.
In 2021, the market value of contrast media injectors was worth USD 2.15 billion. And by 2030 it will reach USD 6.68 billion, growing at a 7.5% CAGR during the forecast period. The major factor driving the market's expansion is the rise in popularity of minimally invasive (MI) medical procedures. Which have a number of advantages, including smaller incisions, less postoperative pain, quicker recovery, and shorter hospital stays.
Renal Denervation Market Report - The global renal denervation market will witness a robust CAGR of 40.7%, valued at $219.49 million in 2021. Expected to appreciate and reach $4743.13 million by 2030, confirms Strategic Market Research. Hypertension is treat by minimally invasive treatment, which is catheter-based. The increasing prevalence of hypertension and its long-term conditions will drive market growth.
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