The global contrast media agent and injector system market, valued at $7.63 billion in 2022, is projected to witness significant growth, reaching $9.71 billion by 2026, with a CAGR of 6.20% during the forecast period 2022-2026.
The market's accelerated expansion is attributed to the rising prevalence of cancer and cardiovascular diseases, driving the demand for imaging with contrast media agent and injector systems and image-guided diagnostics.
Market Lifecycle Stage
The global contrast media agent and injector system market is developing. The global contrast media agent and injector system market has witnessed several collaborations among the market players. The collaborations are aimed at combining capabilities, expanding the customer base, and marketing, among others.
The opportunity for growth of the global contrast media agent and injector system market lies in continued research and development activities for manufacturing innovative contrast media agent and injector system. Many pharmaceutical companies are expanding their businesses and becoming more outsourcing-oriented.
Market Segmentation
Segmentation 1: by Product
Contrast Media Agents
Injector Systems
The global contrast media agent and injector system market (by product) is expected to be dominated by the contrast media agents segment.
Segmentation: Contrast Media Agents (by Modality)
X-Ray/CT Scan
MRI
Ultrasound
The global contrast media agent market (by modality) is expected to be dominated by the X-Ray/CT scan.
Segmentation: Contrast Media Agents (by Type of Media Agent)
Iodine-Based Contrast Media Agent
Gadolinium-Based Contrast Media Agent
Barium-Based Contrast Media Agent
Microbubble Contrast Media Agent
Others
The global contrast media agent market (by type of media agent) is expected to be dominated by iodine-based contrast media agent.
Segmentation: Injector Systems (by Modality)
CT Injector Systems
MRI Injector Systems
Cardiovascular/Angiography Injector Systems
The global contrast media injector system market (by modality) is expected to be dominated by CT injector systems.
Segmentation: Injector Systems (by Product)
Injector
Consumables and Accessories
The global contrast media injector system market (by product) is expected to be dominated by consumables and accessories.
Segmentation: Injector Systems (by Injector Type)
Single-Head Injectors
Dual-Head Injectors
Syringeless Injectors
The global contrast media injector system market (by injector type) is expected to be dominated by single-head injectors.
Segmentation 2: by Region
North America - U.S., Canada
Europe - Germany, U.K., France, Italy, Spain, and Rest-of-Europe
Asia-Pacific - China, Japan, India, Australia, and Rest-of-Asia-Pacific
Rest-of-the-World
The global contrast media agent and injector system market (by region) is dominated by the North America region.
Recent Developments in Global Contrast Media Agent and Injector System Market
In January 2023, Bayer AG received approval in Europe for its Ultravist-300, -370, an iodine-based contrast agent for contrast-enhanced mammography (CEM).
In December 2022, Beijing Beilu Pharmaceutical Co. Ltd. expanded its business by establishing a wholly-owned subsidiary in Hong Kong.
In April 2022, Beijing Beilu Pharmaceutical Co., Ltd.'s gadobutrol injection received the "Drug Registration Certificate" from the National Medial Production Administration (NMPA).
In February 2023, Bracco Group partnered with Wellstar Health System. Through this partnership, the company conducted trials for its FDA-approved VUEWAY (gadopiclenol) injection, which is a contrast agent for use in MRI.
In February 2023, Bracco Group acquired all the shares of Bracco-Eisai from Eisai. Furthermore, the company also changed the name of the company from Bracco-Eisai to Bracco Japan, Ltd.
In July 2022, Fresenius Kabi, a subsidiary of Fresenius SE & Co. KGaA, launched its range of generic contrast media agents' generics in the U.S.
In December 2022, General Electric Company partnered with ulrich GmbH & Co. KG. Through this partnership, the companies aimed to offer a branded multi-dose contrast media injector in the U.S.
Demand - Drivers and Limitations
The following are the drivers for the global contrast media agent and injector system market:
Increasing prevalence of cancer and cardiovascular diseases leading to an upsurge in demand for imaging with contrast media agent and injector system
Upsurge in demand for image-guided diagnostics
Growing number of regulatory approvals
The market is expected to face some limitations as well due to the following challenges:
Rising health concerns post usage of contrast media agents in the body
How can this report add value to an organization?
Growth/Marketing Strategy: The global contrast media agent and injector system market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint ventures.
Competitive Strategy: The global contrast media agent and injector system market consists of various leading manufacturers, small-medium enterprises, and emerging startups. With the increasing demand for advanced devices, companies have the opportunity to expand their presence in the market through different strategic approaches. Some of the strategies followed by the leading contributors are the launch of new products, mergers and acquisitions, and regulatory and legal approvals.
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