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I AgreeAnalysis of Multimodal Imaging market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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.
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 |
|
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“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.
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“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.
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.
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“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.
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.
“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.
“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.
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.
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The global multimodal imaging market is valued at US$ 2.7 billion in 2022.
The multimodal imaging market is expected to reach a valuation of US$ 3.7 billion by 2030.
The global market for multimodal imaging is set to progress at 4% CAGR through 2030.
Growing geriatric population, technological advancements in medical imaging, and rising demand for early diagnostics are major drivers of the industry.
The market in North America is anticipated to be of key importance for revenue generation as it currently accounts for around 35% of the global market share.
PET/CT and SPECT/CT are slated to be the fastest-expanding technology segments within this industry.
Major multimodal imaging companies are Bruker Corp., Spectrum Dynamics Medical Inc., Nipro Corp., PerkinElmer Inc., Shanghai United Imaging Healthcare Co. Ltd., Engineering GmbH, and Koninklijke Philips NV.