The multimodal imaging market is poised for significant growth, projected to reach $5.5 billion by 2028, up from $4.2 billion in 2023, at a CAGR of 5.7%. This growth is driven by a rising patient population, the prevalence of chronic diseases, and technological advancements, along with the increasing adoption of multimodal imaging for diagnostics.
Download PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=3358876
Driving Factors: Growing Applications of Multimodal Imaging Systems
Multimodal imaging systems, which combine different imaging modalities to provide comprehensive diagnostic information, are becoming increasingly important in various medical fields:
- Neuroscience: The combination of fMRI and EEG has provided valuable insights into brain network dynamics (Journal of Neuroscience, 2016).
- Oncology: PET-CT is now a standard for detecting distant metastases, significantly influencing clinical management decisions in breast cancer patients (Journal of Clinical Oncology, 2018).
- Cardiology: PET-MRI is used to assess myocardial viability and inflammation in cardiomyopathy (Circulation, 2016).
- Alzheimer's Research: PET-MRI is employed to understand tau pathology and disease progression (Neurology, 2019).
Market Segmentation and Growth Areas
Technology Segment:
The global multimodal imaging market is segmented into PET-CT, PET-MR, SPECT-CT, OCT/FMT, and other modalities. The SPECT/CT segment is expected to see the second-highest growth rate from 2023 to 2028, while PET/CT held the largest market share in 2022.
End-User Segment:
Based on end use, the market is divided into brain & neurology, cardiology, ophthalmology, oncology, and research applications. The brain & neurology segment is anticipated to grow significantly, with the oncology segment leading the market in 2022.
Hospitals Segment:
Hospitals accounted for the largest market share in 2022. The ability to conduct multiple scans in a single session, reducing patient radiation exposure and the need for additional tests, drives this segment's growth. Additionally, increasing cancer incidences and the number of surgeries performed in hospitals contribute to the market expansion.
Regional Insights: Asia Pacific Leading Growth
The Asia Pacific region is expected to register significant market growth from 2023 to 2028. Factors such as a growing patient population, rising geriatric demographics, rapid economic growth, and increasing healthcare investment are driving this expansion. This region presents substantial opportunities for key market players.
Growth Opportunities: Reimbursement and Insurance Coverage
The availability of reimbursement and insurance coverage for multimodal imaging scans varies by country and healthcare system. In the U.S., Medicare and private insurers cover specific PET-CT scans for cancer staging, treatment monitoring, and assessing myocardial viability in cardiology, highlighting the importance of combined data from different imaging modalities for accurate diagnosis and treatment planning.
Recent Developments in the Multimodal Imaging Industry
- March 2023: Philips and the Champalimaud Foundation aim to reduce the carbon footprint of their diagnostic imaging operations by 50% within five years.
- May 2023: St. Luke's University Health Network partners with GE HealthCare for a $30 million purchase of advanced CT technology incorporating AI.
- November 2022: Canon Inc. announces the formation of Canon Healthcare USA, Inc., to strengthen its presence in the American medical market.
- April 2022:GE HealthCare and Sinopharm enhance their partnership to develop and commercialize medical equipment tailored for China's healthcare needs.
Request for Sample pages: - https://www.marketsandmarkets.com/requestsampleNew.asp?id=3358876
Leading Market Players
Prominent players in the multimodal imaging market include GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Neusoft Corporation (China), and Topcon Corporation (Japan).
The multimodal imaging market is set for substantial growth, driven by technological advancements and increasing adoption across various medical fields. Stay tuned for more updates and insights into this dynamic market.
Comments