Contrast Media Injectors Market Projected to be worth US$886.7 mn by 2020
Transparency Market Research (TMR) has announced the release of a new market study based on the global contrast media injectors market. According to the study, the market for contrast media injectors is growing at a CAGR of 5% from 2014 to 2020. The report focuses on the industry trends and key market forces that are benefitting the growth of the contrast media injectors market, and also the factors that restrain its growth.
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Primarily, the global market for contrast media injectors is impelled by the consistent rise in the demand for imaging procedures such as CT scans and MRI scans, resulting in a demand for technologically efficient contrast media injectors. The market for contrast media injectors is also rising due to increased awareness among people regarding pre-diagnosis of disorders. On the other hand, the adverse reactions associated with contrast media injectors and high cost of advanced technology could hamper the growth of the contrast media injectors market.
1.6 mn head injuries have been found to occur in the U.S. per year, out of which 48% of the cases require medical imaging procedures, thus benefitting the contrast media injectors market. Neuroimaging procedures are well suited for neurological investigations such as intracranial hemorrhage, brain injuries, and tumors, thereby accounting for the increase in the usage of contrast media injectors.
According to the report, the global contrast media injectors market has been dominated by Europe and North America, which shall continue to lead the global market for the forecast period. A large number of people in these regions suffer from neurological and cardiovascular disorders, propelling the market for contrast media injectors in the region.
Due to the advancement of the healthcare sector and medical tourism, the Asia Pacific regional market has shown potential for growth over the coming years and is estimated to account for 25% of the total contrast media injectors market in 2020. China, Australia, and India are the major countries contributing to the contrast media injectors market owing to the rapid increase in the installation of medical imaging equipment. With a large population of about 1.3 bn and housing around 18,000 hospitals, the market for contrast media injectors in China is expected to grow exponentially.
The report analyzes the key players in the market for contrast media injectors, which have been accountable for above 70% of the market. Medtron AG, Bracco Imaging S.p.A., Medrad, Inc., ulrich Medical GmbH, Mallinckrodt Pharmaceuticals, Nemoto Kyorindo, and VIVID IMAGING are some of the market players operating in the field of contrast media injectors.
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