The report " Contrast Media Injectors Market" markets is segmented By end-user (hospitals and Diagnostic Imaging Centers), By Product (injector systems, consumables, and accessories), By Application (radiology, interventional radiology, and interventional cardiology), By Region (North America, the Asia Pacific, Europe, and the Rest of the World) – Global forecast to 2030. By 2030, the Contrast Media Injectors Market size will reach 2.67 billion U.S. dollars with a significant growing CAGR of 7.5%.
Technological advancements, an increasing number of regulatory approvals, and increasing demand for minimally invasive surgeries are the significant factors constituting the growth of the contrast media injectors market. Many significant advanced features have been introduced in contrast media injector technology to automate the overall data collection process regarding the dose received by a patient.
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KEY FACTORS AUGMENTING THE MARKET GROWTH
According to WHO (World health organization) reports, it is estimated that approximately 17.7 million people died of CVDs in 2015, which is equivalent to 31% of total deaths in 2015 globally. Furthermore, it is forecasted that by 2030 the number of fatalities will reach 23.6 million. Thus, the increasing number of CVD and cancer cases, in turn, increases the need for contrast media injectors thus, expanding the overall market size of global contrast media injectors.
By Product " consumables " segment held the highest share in 2020
Injector systems, consumables, and accessories are the segments into which the global contrast media injectors market is divided based on Product. Consumables are currently enjoying the largest market share with a steady CAGR among the three. Consumables are mostly used for safety and hygiene procedures, thus increasing the need for consumables.
By Application " Radiology " segment held the highest share in 2020
Radiology, interventional radiology, and interventional cardiology are the segments into which the global contrast media injectors market is divided based on Product. The Radiology segment is currently enjoying the largest market share with a decent CAGR among the three.
By end-user "Hospitals" segment held the highest share in 2020
Hospitals and diagnostic imaging centers are the segments into which the global contrast media injectors market is divided based on end-users. The hospital segment is enjoying the largest market share with a growing CAGR, followed by diagnostic imaging centers. The increase in the growth of revenues of diagnostic centers is due to the non-availability of advanced screening facilities in mid and medium cap hospitals.
By region "North America" segment held the highest share in 2020
In the United States, according to the reports suggested by the Centers for Disease Control and Prevention 2021, the main reason for the deaths is due to chronic diseases such as diabetes, heart disease, and cancer, contributing to annual health care costs of 3.8 trillion U.S. dollars. It is also reported that 6 in every ten individuals are suffering from chronic disease, and 4 in every ten individuals are suffering from 2 or more chronic conditions. In addition to this, according to Heart Disease & Stroke Statistical Fact Sheet 2020, every year, at least 40,000 infants suffer in the USA due to congenital heart defects. Thus, the prevalence of these diseases and technological advancements in North America are the driving factors for the enormous market share.
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