Contrast Media Injectors Market Growth Insights | 2027 Industry Value Touches US$ 2,000.7 Million in Terms of Revenue | by General Electric, Mallinckrodt, Guerbet SA, Bayer AG, Bracco Imaging S.p.A. etc
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Contrast media injectors are used to inject contrast agents or contrast media to enhance the perfusion and blood in tissues. MRI injectors are used to insert contrast media into the vascular system before an MRI scan. These devices have automated electromechanical injectors with syringes that could be either disposable, reusable, or both. One unit refers to one MRI injector. MRI injectors are expensive compared to CT injectors.
The global contrast media injectors market is expected to reach US$ 2,000.7 million in terms of value and 49,381 in terms of volume by 2027.
Global Contrast Media Injectors Market: Drivers
Growth of the global contrast media injectors market during the forecast period (2019 – 2027) is expected to be driven by the rising prevalence of cardiovascular diseases (CVDs). For example, according to the American Heart Association’s 2018 statistics on heart disease and stroke, coronary heart disease (CHD) (43.8%) is the leading cause of death in the U.S. and by 2035, more than 130 million adults in the U.S. are expected to have some form of CVD.
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Global Contrast Media Injectors Market: Opportunities
The growing geriatric population is estimated to provide significant growth opportunities to key players. For example, according to the World Health Organization (WHO), the proportion of the world’s population over 60 years of age is expected to increase from 12% to 22%.
Global Contrast Media Injectors Market: Restraints
One of the serious problems encountered during contrast media injection is the formation of air emboli, which causes large air infusion that creates an airlock in the pulmonary artery, a sudden drop in blood pressure followed by cardiovascular collapse. The above factors are expected to hinder the growth of the global contrast media injectors market.
In 2018, the CT injectors segment was estimated to account for US$ 514.4 million. The segment is expected to witness a CAGR of 6.0% during the forecast period and is expected to reach US$ 864.6 million by 2027. The growth of the segment is expected to be driven by the rising incidence of chronic diseases.
In 2018, the hospital segment dominated the global contrast media injectors market, accounting for 48.9% share in terms of volume, followed by ambulatory surgical centers, respectively. Growth of the global contrast media injectors market during the forecast period is expected to be driven by the growing healthcare infrastructure in developing economies.
Key players are focused on introducing resistant medical devices for cTACE procedures in adults with intermediate-stage hepatocellular carcinoma (HCC). For example, in December 2019, Guerbet received registration for its innovative conventional Trans-Arterial Chemo-Embolization (cTACE) mixing and injection system, Vectorio, in India from the Ministry of Health & Family Welfare.
The market is also witnessing the increasing Mergers and acquisitions (M&A) activities. For example, in August 2019, Bracco Imaging acquired Blue Earth Diagnostics, a molecular imaging company based in the U.K. from Syncona Ltd.
Global Contrast Media Injectors Market: Competitive Landscape
Major players operating in the global contrast media injectors market are 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 are focused on approving and launching new products to expand their product portfolio in the market. For example, in November 2019, Guerbet received approval for a new indication for Lipiodol Ultra Fluid in Denmark for chemoembolization (cTACE) of tumors in adults with known intermediate-stage hepatocellular carcinoma.
Key players in the market are adopting various strategies such as collaborations and acquisitions to enhance their presence in the market. For example, on March 3, 2018, Bracco Imaging S.p.A. partnered with R.A.W. S.r.l. – an Italy-based company focused on Augmented Reality Guidance technology in Interventional Oncology procedures – to expand its portfolio of solutions for Interventional Oncology.
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- Contrast Media Injectors Market, By Product Type:
- CT Injectors
- MRI Injectors
- Cardio Injectors
- Contrast Media Injectors Market, By End User:
- Ambulatory Surgical Centers
- Diagnostic Centers
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