Increase in number of angiography, CT and MRI procedures, growth in technological sophistication, and surge in chronic diseases drive the growth of the global contrast injector systems market.
PORTLAND, Ore. , June 22, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Contrast Injector Systems Market by Product Type (Consumables, Injector Systems, Accessories), by Application (Radiology, Interventional Radiology, Interventional Cardiology), by End User (Hospitals, Diagnostics centers, Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030". According to the report, the global contrast injector systems industry generated $755.57 billion in 2020, and is anticipated to generate $1.5 billion by 2030, witnessing a CAGR of 7.3% from 2021 to 2030.
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Increase in number of angiography, CT, and MRI procedures, growth in technological sophistication, and surge in chronic diseases drive the growth of the global contrast injector systems market. However, high cost and risk associated with contrast injector systems and contrast media hinder the market growth. On the other hand, rise in healthcare expenditure and emergence of complex diseases in developing countries present new opportunities in the coming years.
The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global contrast injector systems market, owing to decline in number of geriatric patient visits in hospitals and clinics.
Also, during the global lockdown, number of patients coming for CT & MRI declined in order to maintain the social distancing norms. This hampered the market growth.
However, the market is going to recover soon in 2022.
The radiology segment to maintain its leadership status throughout the forecast period
Based on application, the radiology segment held the highest market share in 2020, accounting for nearly two-fifths of the global contrast injector systems market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to surging occurrences of chronic disorders among the growing population, increase in the aging population, and changes in societal behavior. However, the interventional radiology segment is projected to manifest the highest CAGR of 8.4% from 2021 to 2030, owing to reduced risks, lower cost, higher level of comfort, shorter hospital stays, and quicker recovery.
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The hospitals segment to maintain its lead position during the forecast period
Based on end user, the hospitals segment accounted for the largest share in 2020, contributing to around one-third of the global contrast injector systems market, and is projected to maintain its lead position during the forecast period. This is owing to large number of patient visits to the hospitals for diagnosis than clinics. However, the diagnostic centers segment is expected to portray the largest CAGR of 7.9% from 2021 to 2030, owing to onset of complex diseases among the population base that has necessitated the need for detailed examination and early diagnosis pattern of diseases.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global contrast injector systems market, owing to the well-established healthcare facilities, recent technological advancements, and rise in demand for early diagnosis of chronic diseases due to increase in awareness regarding contrast injectors. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.1% during the forecast period, owing to increase in incidence of various chronic diseases such as cancer, heart diseases, Alzheimer's, and dementia.
Bracco Imaging S.p.A
Ulrich GmbH & Co. KG
Shenzhen Seacrown Electromechanical Co., Ltd.
Sino Medical- Device Technology Co., Ltd.
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