The developments in the healthcare sector are giving rise to superior diagnosis of chronic and complex diseases. The research report published by Future Market Insights (FMI) states that such developments in healthcare fostered with the growing application of automated contrast media injectors in hospitals is expected to fuel the growth of the contrast media injectors market during the assessment period from 2015 to 2025.
Based on the global analysis, FMI anticipates the contrast media injectors market to account for US$ 1,773.4 million by the end of 2025. Contrast media is highly beneficial in diagnostics imaging procedures for attaining improved quality of images, which results in superior diagnosis of diseases. The rising awareness of contrast media injectors owing to its benefits of providing technological advantage to its end users is a major factor responsible for boosting the growth of the contrast media injectors market during the forecast period.
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The North American region is projected to be the most lucrative region for the contrast media injectors market registering highest CAGR of 35.8% by 2025-end. The North American market is expected to be a dominant market in terms of value over the forecast period owing to the increasing application of contrast media injectors for advanced diagnosis in hospitals of this region. Leading companies in the contrast media injectors market are based in the United States, which therefore majorly contributes to the growth of contrast media injectors market in North America owing to the easier availability of resources such as technology and manpower. Pharmaceutical companies are, therefore constantly involved in research in the North American industry for developing application-specific contrast media injectors. The growing adoption of technology-based automated contrast media injectors for contrast media delivery is projected to fuel the growth of contrast media injectors market in North America.
Developing countries like the United States consisting of skilled medical professionals are expected to be the major regions which are adopting to the enhanced imaging procedures backed by contrast media injectors for contrast media injections owing to the increasing awareness amongst physicians for early diagnosis of perennial diseases such as cancer to ensure patient safety. The revenue growth of the global market for contrast media injectors is mainly driven by increasing focus on the safety of patients while executing contrast media injection.
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The application of contrast media injectors is largely seen in hospitals considering the global market scenario, owing to which the market share of the hospital end user segment is projected to expand at a CAGR of 5.8% by 2025-end. This growth is largely driven by the extensive application of contrast media injectors in minimally invasive surgeries and early medical examination of patients. Amongst all three contrast media injector product types, the CT injectors are projected to account for maximum revenue share of the overall contrast media injectors market as a result of its features providing safety of patients.
The global market for contrast media injectors is classified on the basis of market revenue share where various key players hold a considerable share. Amongst the other major industry participants, Medrad Inc. (Bayer AG) stands out to be a market leader as a result of its distinctive product catalog. With an experience in the healthcare industry of over a century Medrad Inc. (Bayer AG) is seen emphasizing on strategies to expand their global presence and further grow their distribution channel. Along with this strategy, Medrad Inc. (Bayer AG) is investing majorly on research and development to strengthen the product range, thereby expanding the business. Guerbet, another market leader is developing a range of digital solutions to facilitate patient management and monitoring with their new contrast media injection management solution, Contrast&Care offering certain features related to actions associated with the imaging procedure.
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With key market players of the contrast media injectors market constantly focusing on implementing technological advancements for product delivery, the contrast media injectors market is expected to project considerate growth over the period of forecast.