The global contrast media injectors market size was valued at $1,405.90 million in 2020, and is estimated to reach $2,608.20 million by 2030, growing at a CAGR of 8.00% from 2021 to 2030.
Contrast delivery is also known as a power injector, which is the most effective therapeutic device that can be programmed to deliver specific measures of contrast agent at particular flow rates. Furthermore, it can be used in many types of therapeutic and diagnostic medical procedures and also as a part of imaging method, which will help in the treatment of cancer, physical injury, stroke, heart disease, vascular disease, digestive disorder, and many more.
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The key players operating in the global contrast media injectors market include Bayer HealthCare LLC; Bracco Imaging S.P.A, Guerbet Group, Ulrich GmbH & Co. KG, Nemoto Kyorindo Co., Ltd, Sino Medical-Device Technology Co., Ltd., APOLLO RT Co. Ltd., Shenzhen Anke High-tech Co. Ltd, Shenzen Seacrown Electromechanical Co Ltd., and Medtron AG.
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- By product type, the consumables segment was the highest contributor to the market in 2020.
- By application, the radiology segment was the highest contributor to the contrast media injectors market in 2020.
- By end user, the hospitals segment is projected to grow at a significant CAGR of 8.5% from 2021 to 2030.
- By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the review period.
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Nationwide lockdowns, government regulations, and continuous increase in infection rate across numerous countries created a negative impact on the contrast media injectors industry. During this period, health care institutions and providers have been instructed to stop performing elective surgical procedures and medical examinations to slow the spread of disease and conserve health care resources for COVID-19 patients. In addition, many radiology departments have experienced a rapid decline in imaging case volume, which impedes the contrast media injectors market growth.
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Rising regulatory approval of a growing number of contrast agents is the vital factor escalating the contrast media injectors market growth. In addition, rising investments, funds, and grants by government organizations; increasing the number of public and private diagnostic centers; increasing demand for minimally invasive surgeries; and rising prevalence of several chronic diseases, such as cancer, as well as cardiac, neurological, and orthopedic diseases are the major factors among others boosting the contrast media injectors market. Moreover, rising R&D activities in the healthcare sector and increasing IT-enabled solutions for contrast media injectors will further create new opportunities for the contrast media injectors market during the forecast period.
On the basis of product type, the global contrast media injectors market is divided into consumables, injector systems, and accessories. The consumables segment is expected to witness the highest growth rate during the forecast period due to the growing requirement of consumables to maintain safety and hygienic conditions during diagnostic procedures.
By application, the global contrast media injectors market is fragmented into radiology, interventional cardiology, and interventional radiology. The radiology segment will continue to dominate the contrast media injector applications market during the forecast period. This is attributed to the rising number of radiology procedures using contrast media.
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