Global Contrast Media Injectors Market Size to Reach USD 1.68 Billion in 2032 | Emergen Research

Major companies engaging in mergers and acquisitions to expand their consumer bases and market shares globally is a key factor driving contrast media injectors market revenue growth

Vancouver, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global market size for contrast media injectors reached USD 1.05 Billion in 2022. This market is anticipated to experience a revenue Compound Annual Growth Rate (CAGR) of 4.83% throughout the forecast period, as per the latest analysis conducted by Emergen Research. The primary driving force behind the growth in revenue is the increasing prevalence of various conditions such as cancer and neurological disorders. This trend is prompting a higher demand for contrast media injectors, which play a crucial role in diagnostic imaging therapy.

The worldwide rise in chronic diseases is a significant factor contributing to the elevated demand for contrast media injectors. To meet this demand and cater to the needs of diagnostic imaging procedures, manufacturers of these injectors have been dedicating substantial efforts to Research and Development (R&D). Their aim is to introduce new products and secure approvals for new indications. This proactive approach aligns with the escalating requirement for imaging procedures, fostering further growth in the market.

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The expansion in the adoption of medical equipment, like Computed Tomography (CT) scanners, X-ray machines, and similar devices, is contributing to a heightened demand for contrast media injectors. Furthermore, an increase in accidents, radiology procedures employing contrast media injectors, and the availability of diagnostic imaging facilities are all playing a significant role in driving substantial growth in the contrast media injectors market. An additional influential factor bolstering revenue growth is the escalating allocation of federal funds within the diagnostic imaging services sector.

The continual rise in expenses, driven by the growing utilization of diagnostic imaging in fields such as radiology and image-guided minimally invasive surgery, is propelling the contrast media injectors market forward. Moreover, several other factors are anticipated to contribute to the global market's expansion over the projected period, including an upsurge in healthcare expenditure and improved awareness regarding disease-related conditions.

Despite the promising trajectory, the growth of market revenue is expected to be hindered by the elevated costs associated with advanced imaging systems and Contrast Media Injectors. Furthermore, a shortage of skilled personnel to operate these modalities poses a constraint. It's important to note that the utilization of contrast media injectors could potentially lead to undesired side effects and allergic reactions, potentially limiting the extent of market growth.

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Scope of Research

Report DetailsOutcome
Market size in 2022USD 1.05 Billion
CAGR (2023–2032)4.83%
Revenue forecast to 2032USD 1.68 Billion
Base year for estimation2022
Historical data2019–2021
Forecast period2023–2032
Quantitative unitsRevenue in USD Billion and CAGR in % from 2023 to 2032
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredModality, Application, and region
Regional scopeNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scopeU.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiledBayer Ag; Bracco Imaging S.p.A.; Ulrich medical; Guerbet; MEDTRON AG; Nemoto Kyorindo Co.; Ltd. Hong Kong Medi Co Limited.
Customization scope10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global contrast media injectors market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global contrast media injectors market report are:

  • Bayer AG 
  • Bracco Imaging S.p.A
  • Ulrich medical
  • Guerbet
  • Nemoto Kyorindo Co, Ltd.
  • Hong Kong Medi Co Limited

Strategic Development

  • On November 28, 2022, GE Healthcare signed an agreement with Ulrich Medical to commercialize a contrast media injector in the United States under the GE Healthcare brand. The CT motion multi-dose syringeless injector, which delivers iodinated contrast media for Computed Tomography (CT) imaging procedures, simplifies setup time and increases patient throughput by doing away with time-consuming preparation steps. It also helps to optimize patient dosing and significantly cut on contrast media waste.
  • On August 02, 2022, The U.S. Food and Drug Administration (FDA) authorized Bracco Diagnostics Inc. to import Iomeron (iomeprol injectable) into the country in order to reduce the ongoing iodinated contrast media shortage.

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Some Key Highlights from the Report

  • CT injector systems segment is expected to register a steady revenue growth rate over the forecast period. The rising incidence of chronic diseases like cancer, cardiovascular disease, and diabetes is rising demand for diagnostic imaging techniques like CT scans, which is one of the major factors driving the market for CT injector systems. In addition, improvements in image quality and shorter scan times brought about by technological developments in CT injector systems, such as the creation of high-speed, multi-slice CT scanners, have made CT scans more readily accessible to patients.
  • The radiology segment is expected to account for a significantly large revenue share over the forecast period. The market for contrast media injectors in radiology is primarily driven by the rising frequency of chronic disorders including cancer and cardiovascular diseases. There is an increasing need for contrast media injectors in radiology since many disorders necessitate routine imaging for diagnosis and treatment monitoring.
  • The market in North America is expected to register a significantly fast revenue growth rate during the forecast period. The region's market is expanding as a result of the increasing use of Magnetic Resonance Imaging (MRI) and Computerized Tomography (CT) in the diagnosis and treatment of various ailments. The presence of significant competitors in the area, as well as the accessibility of cutting-edge technologies and sophisticated systems, all contribute to the market's growth in North America.

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Emergen Research has segmented the global contrast media injectors market on the basis of modality, application, and region:

  • Modality Outlook (Revenue, USD Billion; 2019-2032)
    • CT Injector Systems
    • MRI Injector Systems
    • Others
  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Radiology
    • Interventional Cardiology
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of MEA

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