(PharmaNewsWire.Com, February 26, 2021 ) The report "Contrast Media Injectors Market By Product (Injector Systems (CT Injector, MRI Injector), Consumables (Syringes), Accessories), Application (Radiology, Interventional Cardiology), & End Users (Hospitals) - Global Forecast to 2025", size is estimated to be USD 1.3 billion in 2020 and projected to reach USD 1.9 billion by 2025, at a CAGR of 7.4% between 2020 and 2025.Factors such as the growing prevalence of cancer and CVD; a large number of approvals for contrast agents; and increasing investments, funds, and grants by government organizations are driving the growth of the Contrast Media Injectors Market. However, the high cost of contrast media injectors and consumables & accessories is restraining the growth of the market to a certain extent.
Browse 226 market data Tables and 25 Figures spread through 163 Pages and in-depth TOC on "Contrast Media Injectors Market - Global Forecast to 2025"
COVID-19 impact on the Global Contrast Injectors Market
The Covid-19 pandemic has had a devastating global impact on the health of the population as well as huge economic impact on most of the countries. The Pandemic has put a huge strain on the healthcare systems around the world. During this period, health care institutions and providers have been instructed to stop performing elective surgical procedures and medical examinations to slow the spread of disease and conserve health care resources for COVID-19 patients. Many radiology departments have experienced a rapid decline in imaging case volume. Radiology practices should anticipate 50% to 70% decreases in imaging volume that will last a minimum of 3 to 4 months, depending on the location of practice and the severity of the COVID-19 pandemic in each region. While the future looks uncertain due to Covid-19. The demand for contrast injectors will mostly depend on the diagnostic imaging volume and installations of CT & MRI. Few months down the line we can expect the demand for diagnostic imaging to return to normalcy which could also led to recovery of demand for contrast injectors. The Covid-19 will have a major impact on the contrast media injector market in the 2020 with around 20% decrease in sales. The market will likely return to peak levels of 2019 by 2022.
The hospital segment will continue to dominate the contrast media injector end-user market during the forecast period
Based on end-user, the contrast media injectors market is segmented into hospitals and diagnostic imaging centers. The hospital segment commanded the highest growth rate of the global contrast media injectors market in 2019. The high growth rate of this segment can be attributed to the rising number of diagnostic imaging procedures performed in hospitals and the growing inclination of hospitals towards the automation & digitization of radiology patient workflow.
North America will continue to dominate the contrast media injector market during the forecast period
Geographically, North America dominated the contrast media injector market in 2019, while Asia Pacific is expected to register the highest CAGR during the forecast period. The large share of North America is attributed to the increasing number of diagnostic imaging units & examinations, rising aging population & corresponding disease conditions in the US, significant focus & government investments in the medical imaging arena, and increasing research activities in Canada.
Major players operating in the Contrast Media Injector market include Bayer Ag (Germany), Bracco Imaging S.P.A (Italy), Guerbet Group (France), Ulrich GmbH & Co. KG (Germany), Nemoto Kyorindo Co., Ltd. (Japan), Sino Medical-Device Technology Co., Ltd. (Sinomdt) (China), APOLLO RT Co. Ltd. (Hongkong), Shenzhen Anke High-Tech Co. Ltd. (China), Shenzen Seacrown Electromechanical Co. Ltd. (China), and Medtron AG (Germany).
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