Canada Contrast Media Injectors Market to 2027 - Country Analysis and Forecasts By Product; by Application; and Geography

The Canada contrast media injectors market is expected to reach US$ 99.0 Mn in 2027 from US$ 54.4 Mn in 2018. The market is estimated to grow with a CAGR of 7.0% from 2019-2027.

The growth of the contrast media injectors market is primarily attributed to the development in diagnostic imaging modalities. However, shortage of skilled professionals is likely to hinder the growth of the market during the forecast period. Additionally, the growth of the Canada contrast media injectors market is contributed by other factors such as rising geriatric population coupled with increasing number of chronic diseases. Canada's population is in the midst of a fundamental shift. This extraordinary change in the country’s demographics presents new opportunities for Canadian society. Canada, like all industrialized countries, is experiencing an aging population. According to the Government of Canada, seniors were projected to become more numerous than children by 2017. According to all population projection scenarios, seniors are expected to comprise around 23% to 25% of the population by 2036, and around 24% to 28% in 2061.

The Canadian Chronic Disease Indicators (CCDI) provide information on chronic diseases, their determinants, and their risk and protective factors in Canada. Chronic diseases are the major cause of death and disability worldwide. According to the World Health Organization (WHO), in Canada, chronic diseases are projected to account for 89% of all deaths. Canada’s healthcare industry is experiencing demand increases resulting from the advance of chronic diseases and an aging population. According to the export.gov, in 2017, total healthcare expenditures were valued at approximately CDN$242 billion. Healthcare spending in Canada is projected to increase from 4.4 percent to 7.5 percent by 2020.

In 2018, the consumables segment held a largest market share of 62.7% 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 7.4% during the forecast period, 2019 to 2027.

Canada contrast media injectors market by application was led by the radiology segment. The segment has largest market share in 2018, which accounted for a share of 47.7% and is expected to grow at a significant rate. However, the interventional cardiology segment is expected to witness growth at a significant rate of 8.2% 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.