Contrast Injector Systems Market Impact due to COVID 19 Along with Analysis of The Current Situation
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The contrast injector system improves visibility of body structures such as body fluids, tissues, bones, veins, and arteries to diagnose diseases and disorders. The contrast agent injector system uses a contrast agent that enhances the body structure mentioned earlier. Visualization of various pathologies is achieved through imaging procedures such as computed tomography (CT), magnetic resonance imaging (MRI), and angiography.
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Imaging procedures are on the rise due to an increase in various chronic conditions such as cancer, Alzheimer's and dementia. However, the high cost of contrast injector systems and the high risks associated with contrast injector systems, especially the use of media, hinder market growth. In addition, medical expenditures in developing countries and the emergence of complex diseases provide favorable opportunities for key market players.
The CT Injector Systems segment generated the highest revenue in 2016, accounting for about half of the total market share in 2016. This is due to the increased number of imaging procedures with CT scans and the increased sophistication of the CT injector system. However, the angiography system will grow at the fastest annual average growth rate of 8.7% during the forecast period. This is due to an increased number of heart diseases and an increased burden of initial heart attack diagnosis.
Among the end users, hospitals accounted for 32.9% of the total injector systems market in 2016 with the highest revenue, and it is expected to continue this trend throughout the forecast period. Moreover, the diagnostic center sector is expected to show a high growth rate of 8.9% as the trend of image processing in diagnostic centers increases. In addition, doctor's recommendations for CT and MRI scans in diagnostic centers further strengthen the global injector systems market.
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Key Results of the Contrast Injector Systems Market:
• The Injector Systems segment accounted for about 2/5 of the total market in 2016 and is expected to grow at a high CAGR of 8.7% over the forecast period.
• Interventional Cardiology segment is the fastest growing application in the global market with a CAGR of 9.2% over the forecast period.
• The United States dominates the global contrast agent systems market and is expected to grow at a CAGR of 5.3% from 2017 to 2023.
• India was the fastest growing country in the Asia-Pacific contrast system market in 2016 with a CAGR of 11.7% and is expected to continue this trend over the forecast period.
• The hospital segment had the highest market share in 2016, growing at an annual average of 8.1% from 2017 to 2023.
The Asia Pacific region is expected to show the highest growth rate in the contrast system market during the forecast period, and this trend is expected to continue due to the high population density of countries such as India and China. In addition, a sharp increase in the elderly population and an increase in chronic diseases in developing countries are driving market growth.
Major players operating in the contrast agent system market have adopted product launches as one of their key development strategies, such as business expansion, product development and business acquisition. Leading companies included in the report include Bracco Imaging SpA, Bayer HealthCare, Guerbet Group, Medtron AG, Ulrich GmbH & Co. KG, GE Healthcare, Shenzhen Seacrown Electromechanical Co., Ltd, Nemoto Kyorindo Co. Ltd., Sino Medical- Device, etc. Technology Co., Ltd. And Vivid Imaging. Other key players in value chain analysis include Imaxeon, Pty Ltd, Network Imaging Systems, IRadimed Corporation, Covidien, Agito Medical and Merit Medical Systems.
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