Contrast Media Injection Sets Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product (Contrast Media Injection Sets with a Bore Vented Tubing, Contrast Media Injection Sets with a Vented Bifurcated Standard Bore, Contrast Media Injection Sets with a Vented Pressurized Spike, Others); End-User (Hospitals, Cancer Research Institutes, Diagnostic Imaging Centers, Others); and Region/Country
The contrast media injection sets market is expected to register a CAGR of approx. 5% over the period of 2022-2028. Contrast media administration sets, or injection sets are made to regulate the number of contrast agents that are actually supplied to an administration system (such as an injector) in order to prevent waste and regulate the total amount of contrast agents used for a single procedure. When performing various imaging tests like computed tomography (CT), magnetic resonance imaging (MRI), radiography, and occasionally ultrasound imaging, contrast media are used to increase the contrast of bodily fluids for better imaging. With the aid of contrast media, blood vessels can be seen, allowing for the examination of the spine, kidneys, and internal organs of the brain. Contrast media aids in the differentiation of different body parts with similar compositions, and thus, contrast media. The growing demand for contrast media injection sets can be attributed to the increasing prevalence of cancer across the globe. For instance, according to the World Health Organization, Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths. In 2021, there will be an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States. Owing to the glaring statistics the rising prevalence of cancer leads to higher demand for contrast media injection which boosts the demand for contrast media injection sets across the globe and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the contrast media injection sets market is anticipated to grow on account of the increasing number of diagnostic procedures. In addition, increasing usage of nuclear imaging tests for the diagnosis of various conditions related to the heart, lungs, bones, brain, and other systems drives the market growth. However, some of the restraints in the market including the high cost of injection sets and lack of trained professionals are impeding the growth of this market all over the world.
Bayer AG; ulrich GmbH & Co. KG; Medtron AG; ICU Medical, Inc; B. Braun SE; Apollo Rt Co. Ltd; Nemoto Kyorindo Co. Ltd; Guerbet Group; GE Healthcare; Shenzhen Anke High-tech Co. Ltd are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, the contrast media injection sets with a bore vented tubing category is expected to witness considerable CAGR during the forecast period”
Based on the product, the contrast media injection sets market is segmented into contrast media injection sets with a bore vented tubing, contrast media injection sets with a vented bifurcated standard bore, contrast media injection sets with a vented pressurized spike, and others. The contrast media injection sets with a bore vented tubing segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. Professionals frequently use these products because they are simple to use and more widely available than other product categories.
“Amongst end-user, the diagnostic imaging centers category is expected to witness considerable CAGR during the forecast period”
Based on the end-user, the market is fragmented into hospitals, cancer research institutes, diagnostic imaging centers, and others. The diagnostic imaging centers segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Increased procedure volume, combined with patient convenience, and a lack of imaging modalities in small and medium-sized hospitals are boosting segment growth. In order to improve ease of use and create products that can help control the waste of contrast agents, manufacturers of contrast media injection sets are concentrating on creating more innovative sets.
“North America to witness significant growth during the forecast period”
For a better understanding of the market adoption of the contrast media injection sets, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the contrast media injection sets industry owing to increased nuclear imaging procedures and the availability of high-end products. Moreover, the presence of well-established healthcare facilities, growing advanced technologies, as well as rising healthcare spending boost the market growth in this region.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Global Contrast Media Injection Sets Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global contrast media injection sets market were the three major steps undertaken to create and analyze the adoption of contrast media injection sets in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global contrast media injection sets market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the contrast media injection sets market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the contrast media injection sets market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the product and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the contrast media injection sets market. Further, we conducted factor analysis using dependent and independent variables such as the increasing prevalence of cancer, etc. globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the contrast media injection sets market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global contrast media injection sets market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the contrast media injection sets market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global contrast media injection sets market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global contrast media injection sets market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product and end-users in the global contrast media injection sets market.
The main objective of the Global Contrast media injection sets Market Study
The current & future market trends of the global contrast media injection sets market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the contrast media injection sets market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product and end-users.
- Define and analysis of the regulatory framework for the contrast media injection sets market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the contrast media injection sets market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the contrast media injection sets market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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