Contrast injector systems increase
the visibility of body structures such as body fluids, tissues, bones, veins,
and arteries, and diagnose diseases and disorders. Contrast injection systems
utilize contrast agents that enhance the aforementioned body structure. Various
disease states are visualized by imaging procedures such as computed tomography
(CT), magnetic resonance imaging (MRI), and angiography.
The global contrast
injector systems market is projected to hit $954.62
Mn by 2023 from $554.38 Mn in 2016, growing at a CAGR of 8.1% from
2017 to 2023. The consumables segment accounted for about half of the global
market share in 2016.
The key players operating in
the contrast injector system market adopted product launch as one of their key
developmental strategies, such as business expansion, product development, and
business acquisition. The major companies profiled in the report include Bracco
Imaging S.p.A, Bayer HealthCare, Guerbet Group, Medtron AG, Ulrich GmbH &
Co. KG, GE Healthcare, Shenzhen Seacrown Electromechanical Co., Ltd, Nemoto
Kyorindo Co. Ltd., Sino Medical- Device Technology Co., Ltd., and Vivid
Imaging. Other prominent players in the value chain analysis include Imaxeon,
Pty Ltd, Network Imaging Systems, IRadimed Corporation, Covidien, Agito
Medical, and Merit Medical Systems.
Rise in imaging procedures
owing to the increase in various chronic diseases such as cancer, Alzheimer’s,
and dementia drive the market. However, high cost of contrast injectors systems
coupled with high risk associated with contrast injector systems, especially
with the use of media impede the market growth. Moreover, rise in healthcare
expenditure and emergence of complex diseases in the developing countries
create lucrative opportunities for key market players.
The CT injector systems segment
generated the highest revenue in 2016 accounting for about half the share of
the total market in 2016. This is attributed to the growth in number of imaging
procedures through CT scans and increase in sophistication of the CT injector
systems. However, angiography injector systems is poised to grow at the fastest
CAGR of 8.7% throughout the forecast period. This is owing to the growth in
number of heart diseases and increased burden of diagnosis of heart attack at
early stages.
Among end users, hospital generated
the highest revenue in 2016, accounting for 32.9% share of the total contrast
injector system market, and are anticipated to continue this
trend throughout the forecast period. Moreover, diagnostic centers segment is
expected to witness a high growth rate of 8.9%, owing to the increase in trend
of imaging procedures at diagnostic centers. Moreover, doctor’s recommendations
for CT and MRI scans at diagnostic centers further boosts the global contrast
injector systems market.
KEY FINDINGS OF THE STUDY
The injector systems segment
accounted for about two-fifths share of the total market in 2016 and is
expected to grow with a high CAGR of 8.7% during the forecast period.
The interventional cardiology
segment is the fastest growing application in the global market, registering a
CAGR of 9.2% during the forecast period.
The U.S. dominated the global
contrast injector systems market and is projected to grow at a CAGR of 5.3%
from 2017 to 2023.
India was the fastest
growing country in the Asia-Pacific contrast injector systems market
in 2016, registering a CAGR of 11.7%, and is anticipated to continue this trend
during the forecast period.
The hospitals segment
contributed to the highest market share in 2016, registering a CAGR of 8.1%
from 2017 to 2023.
Asia-Pacific is expected
to witness highest growth rate for contrast injector system market throughout
the forecast period, and is expected to continue this trend, owing to high
population density in countries such as India and China. In addition,
rapid rise in geriatric population as well as the growth in number of chronic
diseases in the developing economies boost the market growth.
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