Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- A new report has been published by Transparency Market Research, titled "Contrast Media Injectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020". TMR, a market intelligence company based in the U.S., says in its report that the global contrast media injectors market was valued at US$630.1 million in 2013, expanding at a 5.0% CAGR between 2014 and 2020 the market is predicted to reach US$886.7 million by 2020.The TMR report states that the devices used for administering contrast media in the body to enhance the visibility of tissues for medical imaging procedures are known as contrast media injectors (CMI). Presently, manufacturers are busy developing contrast injectors with improved capabilities such as patient imaging data integration, improved patient safety, and higher specificity. Features such as higher productivity, shorter injection time, decreased radiation exposure to operators, and ease of operation constitute other major advances which ensures adequate workflow and imaging together with accurate results.
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Based on product type, the TMR report segments the global contrast media injectors (CMT) market into CT injectors, vascular injectors, MR injectors, and others. The CT injectors is the most swiftly growing segment due to the huge installed base of CT machines, low price of scanning compared to MRI as well as positron emission tomography (PET) coupled with a bigger patient compliance. Angio/vascular injectors and MR injectors is constituted within other key instrument segment which offer increased reliability and precision in contrast injection. The usage of X-ray as well as ultrasound injectors is plummeting owing to the low reliability, complicated workflow and technological limitation in imaging compared to MRI, CT, and other advanced techniques.
As per the TMR report, on the basis of application, the contrast media injectors (CMI) market is segmented into Cardiology, Oncology, Neurology, and others. The growing incidence of diseases which are life threatening, complex fractures, and trauma has escalated the use of these scanning techniques in the diagnosis of uncertain clinical manifestations. Currently MRI and CT scanning find enhanced applications in the diagnosis of an increasing number of neurological disorders. Neuroimaging (MRI, CT, and others) are best deployed for neurological investigations, namely, intracranial hemorrhage, brain injuries, acute neurological changes, and tumors.
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The report segments the global contrast media injectors market into North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2013, Europe as well as North America dominated the market for contrast media injectors collectively accounting for over 60% of the market. The reason behind the dominance of these two regions is the increased adoption of contrast media injectors in procedures of radiology across healthcare centers and hospitals, in comparison to other regions. Asia Pacific is predicted to demonstrate fastest growth. The region is expected to hold 25% of the market by 2020. Countries such as India, China, and Australia present substantial growth prospects due to the increased installation for medical imaging equipment and procedures.
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The leading market players of the contrast media injectors market profiled by the report are Mallinckrodt Pharmaceuticals, Bracco Imaging S.p.A., Medrad, Inc., VIVID IMAGING, Ulrich Medical GmbH, Medtron AG, and Nemoto Kyorindo.
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Source:Transparency Market Research