Contrast Media Injectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany,NY (PRWEB) March 05, 2015
According to a new market report published by Transparency Market Research “Contrast Media Injectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” the Global Contrast Media Injectors Market was valued at USD 630.1 million in 2013 and is estimated to reach a market worth USD 886.7 million by 2020 at a CAGR of 5.0% from 2014 to 2020.
Contrast media are utilized in medical imaging in order to enhance visibility between blood vessels and their adjacent tissues. These are usually radio opaque substances such as iodine or barium compounds that enhance the visual images generated by medical diagnostics instruments such as magnetic resonance (MR), computed tomography (CT), x-ray, ultrasound (US) and others. Contrast media can be administered in body by various routes such as oral, injection (intravenous and intra-arterial), rectal and urethral.
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Over the years, with advancements in imaging technology, contrast media injection have evolved from manual injection systems to sophisticated automated media injectors equipped with diversified features. The advantages of using media injectors over manual injection include tight contrast bolus, greater savings in terms of time and cost, and generate less waste as compared to conventional method. In addition, these injectors enable controlled flow rate, precise delivery of media and customize injection protocols that ensure safety and increase patient compliance.
Consistent technological up gradation in conjunction with integration of advanced imaging technologies resulting in improved patient safety constitutes the major factors that drive the market growth. Increasing physician preference for improved dose management of contrast media has led to the development of automated injectors providing precise control on the flow of contrast agent and personalized doses for the patients. This is majorly due to the increased use of electronic medical records (EMR) and picture archiving and communication system (PACS) which enables the retrieval of patient’s data. For example, IRisCT information reporting system records injection related information along with patient’s identification details. In addition, the rising cases of cardiac, cancer and other disorders worldwide will further create a demand for safe and efficient contrast media injectors. On the contrary, side effects such as extravasations, air embolism and other allergic reactions might restrain the market growth. Furthermore, complicated operations of the injectors with integrated technologies might further hamper the market growth.
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At the Global level, North America was the largest market for contrast media injectors in 2013 followed by Europe. This is majorly attributed to high prevalence of cardiovascular and neurological disorders and the presence of a large number of hospitals that influence the market dynamics significantly. According to the Heart Foundation in the U.S., an estimated 80 million people in the U.S. have one or more types of heart disease. In addition, large numbers of traumatic and non-traumatic injuries helped the market grow consistently in the recent past. According to the Centers for Disease Control and Prevention’s (CDC) emergency department statistics, 41.0 million people visited emergency departments for injuries and related manifestations. Europe accounted for the second largest share of the global contrast media injectors market. The EU5 nations — France, Germany, Italy, Spain and the U.K. — form the key markets in the region, accounting for a major share of the total revenue. Europe is expected to witness moderate growth due to considerable increase in the number of imaging procedures, awareness about health care among people and rising number of imaging scanner installations in the region. According to OECD health statistics 2013, approximately 32.7 million CT and 19.1 million MRI scans were performed in the EU5 nations in 2011.
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Currently, the growth and adoption of contrast media injectors in Asia-Pacific and RoW region is growing significantly as compared to developed regions (United States, Germany, France, etc.), primarily due to economic growth in the region, which has led to increased disposable income and consequently, increased affordability of sophisticated imaging technology. Moreover, a large population base and growing geriatric population that is more prone to cardiovascular and certain neurological disorders would lead to a large potential patient base. Asia Pacific region includes the well-developed contrast media market in Japan, high economic growth markets such as China and India.
Contrast media injectors market is consolidated with the presence of well-established players along with few emerging companies. The major companies competing in this market accounts Medrad, Inc., Bracco Imaging S.p.A., Medtron AG, ulrich GmbH, VIVID IMAGING Technologies, Mallinckrodt Pharmaceuticals and Nemoto Kyorindo, and Guerbet LLC.
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