The global market for contrast media injectors will grow at a compound annual growth rate (CAGR) of 11% from 2016 to 2022, climbing from $830 million (720.9 million euros) in 2015 to reach almost $1.8 billion (1.6 billion euros) by 2022, according to a new report from market research and consulting firm GlobalData.
The more than doubling of revenues will be driven mainly by increases in the number of CT, MRI, and angiography procedures, as well as higher disease burdens and increasing use of contrast injectors, according to the company.
Analyst Sarah Janer noted in a statement that CT contrast injectors are usually packaged with sales of CT scanners, while MRI injectors are not normally included with the purchase of an MR scanner.
The CT segment is still the largest and fastest growing in the contrast injector market, GlobalData said, and will grow at a 12.3% CAGR during the forecast period.
Single-head injectors make up the majority of the market's volume due to their low average selling price, which is especially attractive in emerging economies and among hospitals that are pressed for funding. However, the company expects that the decline of CT injector prices across market product niches and geographies will lead to high growth for dual-head injectors, as hospitals seek to upgrade their injectors with more-efficient models for lower costs.
