(PharmaNewsWire.Com, November 03, 2021 ) According to the new market research report "Contrast Media Injectors Market by Product (Injector Systems (CT Injector, MRI Injector), Consumables (Injector Heads, Syringes), Accessories), Application (Radiology, Interventional Cardiology), & End Users (Hospitals) - Global Forecast to 2024", published by MarketsandMarkets™, the global Contrast Media Injectors Market is projected to reach USD 1.8 billion by 2024 from USD 1.3 billion in 2019, at a CAGR of 6.1% during the forecast period.
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The interventional cardiology segment to register the highest CAGR in the contrast media injector market during the forecast period.
Based on application, the Contrast Media Injectors Market is segmented into radiology, interventional radiology, and interventional cardiology. In 2018, the interventional cardiology segment had the highest growth rate of the Contrast Media Injectors Market. The rising prevalence of CVD is driving the growth of this application segment.
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 2018. 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. Additionally, increasing adoption of minimally invasive procedures (including diagnostic imaging systems) in hospitals to improve the quality of patient care, and rising adoption of advanced imaging modalities to improve workflow efficiency in hospitals are other key factors driving market growth.
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 2018, 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).
Recent Developments: In 2018, Bayer (Germany) launched the Medrad Centargo CT injection system for the CT injection segment In 2019, Guerbet Group partnered with IBM Watson Health for AI in medical imaging to support liver cancer diagnostics, utilizing CT and MRI imaging.
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