Multimodal Imaging Market

Multimodal Imaging Market Outlook (2022-2030)

Worldwide demand for multimodal imaging systems is anticipated to increase at a steady CAGR of 4% from 2022 to 2030, with the market currently standing at a valuation of US$ 2.7 billion. By the end of 2032, the global multimodal imaging market is estimated to reach a value of US$ 3.7 billion.

Imaging has become a crucial aspect of the healthcare industry as it has been widely deployed in the diagnostics and treatment of several diseases in recent years, and this is anticipated to positively influence the multimodal imaging market growth potential throughout the forecast period.

Growing use of multimodal imaging diagnostic procedures is being witnessed to identify and treat various chronic conditions such as cardiovascular disorders, cancers, neurological diseases, and ophthalmic disorders. Rising incidence of chronic obstructive pulmonary disorders (COPDs) is also a factor that is anticipated to uplift multimodal imaging system sales over the coming years.

Technological advancements in medical imaging are also expected to crucially shape overall market growth market in the future. Increasing insurance coverage for imaging procedures, favourable reimbursement policies, growing awareness and preference for multimodal imaging techniques, and developments in radiotracer technologies are other factors that could potentially promulgate the demand for multimodal imaging devices over the next eight years.

Hyperspectral imaging and the use of artificial intelligence (AI) in diagnostic imaging are also expected to be areas of prime importance in the healthcare imaging industry going forward. The growing senescent population and rising investments in healthcare infrastructure development in developing countries are also expected to lead to increased shipments of multimodal imaging equipment as time goes by.

• As per data reported by the World Health Organization (WHO), the population of people above the age of 60 was around 1 billion in 2020 and is expected to reach 1.4 billion by the end of 2030.

Growing prevalence of neurological disorders and demand for early diagnostics are also expected to supplement the demand for fusion imaging technologies in the future. The world has also witnessed a significant increase in the cancer-affected patient pool. As such, the growing use of imaging in cancer detection and treatment is also predicted to promote market development throughout the forecast period. Increasing preference and popularity of minimally invasive and non-invasive procedures are also expected to be a crucial prospect expected to boost demand for multimodal imaging devices across regions.

However, the high costs of multimodal imaging systems and the dearth of skilled medical professionals to operate these advanced imaging devices are anticipated to emerge as major restraints to overall market growth through 2030. Moreover, stringent regulatory standards around preclinical multimodal imaging are also expected to constrain multimodal imaging device sales going forward.

The multimodal imaging industry accounts for around 8% share of the global medical imaging market in 2022.

Report Attributes	Details
Multimodal Imaging Market Size (2022)	US$ 2.7 Billion
Projected Market Value (2030F)	US$ 3.7 Billion
Global Market Growth Rate (2022-2030)	4% CAGR
Share in Medical Imaging Market (2022)	8%
PET/CT Systems Segment Growth Rate (2022-2030)	4.3% CAGR
United States Market Value (2022)	US$ 750 Million
Germany Market Growth Rate (2022-2030)	3% CAGR
Key Companies Profiled	Bruker Corp. Spectrum Dynamics Medical Inc. Nipro Corp. PerkinElmer Inc. Shanghai United Imaging Healthcare Co. Ltd. Engineering GmbH Koninklijke Philips NV Mediso Ltd. Canon Inc. Carl Zeiss AG MILabs BV MR Solutions Ltd. General Electric Co. Heidelberg Neusoft Medical Systems Co. Ltd. Siemens AG Topcon Corp. TriFoil Imaging

How Will Ubiquity of Chronic Diseases Affect the Demand for Multiplexed Imaging?

“Multimodal Imaging System Demand Driven by Rising Worldwide Incidence of Chronic Ailments”

The advent of several chronic diseases in recent years has led to high demand for advanced diagnostic and treatment procedures in the healthcare industry and this has influentially given rise to the demand for medical imaging techniques and technologies. Multimodal imaging in ophthalmology is anticipated to gain prominence over the next few years owing to its rising popularity and better ability to identify macular and retinal diseases.

Several chronic diseases require the use of advanced imaging techniques such as multiplexed imaging to identify and treat them in the most efficient way possible and this is expected to uplift market potential across the forecast period.

Will Advancements in Research Open the Doors for New Market Entrants?

“Innovative Research Could Inspire Start-ups to Create Novel Imaging Solutions”

The focus on the development of imaging technology has bolstered in recent years owing to the high demand for diagnostics and the advent of several chronic and infectious diseases. Investments in healthcare research are increasing and this has led to some breakthroughs in medical imaging technology, which could open up opportunities for aspiring multimodal imaging companies.

• Researchers at Penn State University developed a transparent biocompatible ultrasound transducer chip that could open up new opportunities in multimodal imaging and tissue stimulation. The team tested several applications of this transparent ultrasound transducer (TUT) chip that enabled multimodal photoacoustic and optical imaging.
• In April 2022, an international research collaboration between researchers from the University of Birmingham, Dartmouth College, and Beijing University of Technology announced that they had configured the deep-learning-based Z-net algorithm that is capable of generating MRI-guided near-infrared spectral tomography (NIRST) images from directly measured MRI data and optical signals.

Upcoming market players could leverage such research studies and invest in the development of multimodal imaging solutions to stand out in the global multimodal imaging industry landscape in the future. Collaborations with established market players could also help new companies to create a market presence on a global level.

This new market study of the multimodal imaging industry by Fact.MR, a market research and competitive intelligence provider, will help start-ups as well as established players to make informed business decisions and gain a competitive edge over other market players.

Country-wise Insights

What Allows the United States to Account for a Major Multimodal Imaging Market Share?

“Rapid Adoption of Advanced Imaging Techniques & High R&D Activity in the U.S.”

The market for multimodal imaging in the United States is projected to exhibit a bright outlook across the forecast period owing to high healthcare expenditure, rapid adoption of advanced medical imaging technologies, and the presence of developed healthcare infrastructure.

Increasing investments in research and development, favorable reimbursement policies, rising demand for early diagnostics, and supportive government initiatives to boost research activity are other factors that drive demand for multi-modality imaging in this country.

• The World Molecular Imaging Society was founded in the U.S. as a dedicated research educational organization focused on improving medicine and biology through multimodal in vivo imaging of molecular and cellular processes. The organization also explores the use of quantifiable molecular imaging for clinical purposes and hence, promulgates multimodal imaging research.

Currently, the United States multimodal imaging industry is estimated to account for a valuation of US$ 750 million and is expected to be a leading revenue contributor to the North American region throughout the forecast period.

Category-wise Insights

Which Application Should Multimodal Imaging Device Manufacturers Focus On?

“Growing Incidence of Cardiovascular Disorders Attracting Attention of Medical Imaging Solution Providers”

The global multimodal imaging market, based on application, is segmented into brain & neurology, cardiology, oncology, ophthalmology, and other applications.

High prevalence of cardiovascular disorders has been observed in the past few years and this is anticipated to drive demand for multimodal imaging as it has been proven as an effective diagnostic method and also aids in treatment procedures. Poor eating habits, sedentary lifestyles, and the rising prevalence of obesity are putting more people at risk of cardiovascular disorders and hence this is expected to be an area of prime focus for multimodal imaging providers.

Which End User is at the Forefront of Multimodal Imaging Demand?

“Hospitals to Head Multimodal Imaging Industry Revenue Generation”

The global multimodal imaging market, based on end user, is segmented into hospitals, diagnostic imaging centers, and others.

Investments in the upgradation of hospitals have increased significantly in recent years and this has led to the installation of many advanced medical systems and devices in hospitals. Hospitals are seeing a surge in the installation of multimodal imaging systems such as PET/CT systems, SPECT/CT systems, and PET/MR systems, and this is expected to boost growth in the hospitals segment over the coming years.

The increasing number of diagnostic imaging centers being established around the world owing to the high demand for early diagnostics is also expected to supplement sales of multimodal imaging equipment over the next eight years.

Competitive Landscape

Top companies in the multimodal imaging systems marketplace are focusing on product innovation and launches to advance their sales potential and gain a competitive advantage over other market players.

• In May 2022, FUJIFILM VisualSonics Inc., a leading provider of photoacoustic and high-frequency ultrasound imaging systems announced the launch of an ultra-high to low frequency ultrasound multi-modal imaging system. Vevo F2 was designed for preclinical usage and offers high-definition image processing and is way better than previous generations of this imaging system.

Multimodal Imaging Industry Research Segmentation

• By Technology:

  • PET/CT Systems
  • SPECT/CT Systems
  • PET/MR Systems
  • OCT/Fundus Imaging Systems
  • Others

• By Product:

  • Equipment
  • Reagents
  • Software

• By Application:

  • Brain & Neurology
  • Cardiology
  • Oncology
  • Ophthalmology
  • Other Applications

• By End User:

  • Hospitals
  • Diagnostic Imaging Centers
  • Others

• By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA