The US contrast media injectors market is expected to reach US$ 350.4 Mn in 2027 from US$ 183.8 Mn in 2018
NEW YORK, Jan. 21, 2020 /PRNewswire/ --
The US contrast media injectors market is expected to reach US$ 350.4 Mn in 2027 from US$ 183.8 Mn in 2018. The market is estimated to grow with a CAGR of 7.5% from 2019-2027.
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The growth of the contrast media injectors market is primarily attributed to the increasing number of patients suffering with chronic diseases.However, side effects associated with the contrast media agents is likely to hinder the growth of the market during the forecast period.
Additionally, other factors such as increasing number of approvals for contrast agents as well as robust pipeline products are contributed to the growth of the US contrast media injectors market.US has a marginal number of companies headquartered and operating in the contrast media injectors market.
The major manufacturing companies through their diversified portfolio that commercializes imaging agents and products also work evidently on the development of new agents and injector systems that are likely to enhance the efficiency of current imaging modalities, thereby bringing in new technologies and innovations in the market would be responsible to maintain the dominance of the country.
For instance, Lantheus Medical Imaging, Inc., a US based medical imaging company actively involved in the commercialization of contrast media injectors and agents is undergoing clinical trials to develop Flurpiridaz F 18, a novel PET agent, with the first of two Phase 3 trials complete. Moreover, the company has also collaborated with academic centers in the U.S., Canada and the Europe to investigate fluorine-18-based positron emission tomography (PET) radiopharmaceutical imaging agent designed for molecular imaging of the norepinephrine pathway. Thus, similar potential products that are beneficial from the commercial as well as therapeutic and diagnostic perspectives is expected to create opportunistic scenario for the growth of the contrast media injectors market in the coming years.
In 2018, the consumables segment held a largest market share of 63.0% of the contrast media injectors market, by product. This segment is also expected to dominate the market in 2027 since the consumables generally used are meant for single use and hence are replaced after the completion of every process. Moreover, the consumables segment is anticipated to witness the significant growth rate of 7.7% during the forecast period, 2019 to 2027.
US contrast media injectors market by application was led by the radiology segment. The segment has largest market share in 2018, which accounted 47.3% and is expected to dominate the market in 2027. However, the interventional cardiology segment is expected to witness growth at a significant rate of 8.5% during the forecast period, 2019 to 2027.
Some of the major primary and secondary sources for contrast media injectors included in the report are Centers of Disease Control & Prevention, Food and Drug Administration, World Health Organization and Others.
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