Market Trends of Contrast Media Injectors Industry
This section covers the major market trends shaping the Contrast Media Injectors Market according to our research experts:
The CT Injector Systems Segment is Expected to Record a High CAGR in the Injectors Segment
CT injectors are expected to grow positively as the usage of CT systems has increased over the past few years. These CT systems use a dual-head injector with two syringes for initial and follow-up contrast doses during imaging. There has been constant R&D activity by major academic centers and pharmaceutical companies to develop protocols that help CT users with the advanced capabilities of newer imaging systems.
Major players are gradually implementing various strategies, such as collaborative initiatives, to remain competitive in the market. For example, In May 2022, Bayer Korea said it had started marketing MEDRAD Centargo, a computed tomography (CT) injection medical device, which received approval from the Ministry of Food and Drug Safety in January. Similarly, Ulrich Medical, a German medical technology company, presented a version of its CT motion contrast media injector designed for the American market at the RSNA in Chicago in May 2020. It was approved by the FDA and marketed in collaboration with GE Healthcare.
Such factors are expected to boost the market's growth over the forecast period positively.
North America is Expected to Hold a Significant Share in the Market and Continue the Growth Trend During the Forecast Period
North America is expected to dominate the overall market during the forecast period, primarily due to the increasing preference for minimally invasive procedures and the increasing prevalence of chronic diseases due to changing lifestyles. The United States holds the largest market share in the region.
According to the CDC data updated in May 2021, chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability in the United States. They also contribute to USD 3.8 trillion in annual healthcare costs. Six in 10 adults in the country have a chronic disease, and four in every 10 have two or more chronic diseases.
Additionally, according to Heart Disease & Stroke Statistical Fact Sheet 2020, a minimum of 40,000 infants are expected to be affected yearly by congenital heart defects in the United States. About 25% or 2.4 (per 1,000 live births) require treatment in the first year of an infant's life.
Technological advancements in contrast media injector devices, increasing expenditure by key players, and rising regulatory approvals are also boosting the growth of the contrast media injectors market in North America.
