Westford USA, April 10, 2023 (GLOBE NEWSWIRE) -- The Multimodal Imaging market is experiencing significant growth and is projected to reach USD 3.94 billion by 2030, with a CAGR of 4.3% during the forecast period (2022-2030). Various factors drive the market's expansion, including the increasing prevalence of chronic diseases, advancements in imaging systems technology, and the growing demand for non-invasive diagnostic techniques and personalized medicine. The preference for non-invasive imaging procedures over invasive ones has been highlighted in a survey conducted by the American College of Radiology, where 75% of respondents preferred non-invasive diagnostic methods.
Moreover, SkyQuest's recent research has revealed that nearly 70% of radiologists and imaging specialists believe that multimodal imaging technologies will play a significant role in the future of medical imaging. The United Nations has projected that the number of individuals aged 65 and above will triple to 1.5 billion by 2050, contributing to the market's growth alongside other factors.
Browse in-depth TOC on "Multimodal Imaging Market"
- Pages - 242
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- Figures - 72
Multimodal imaging centers are crucial in modern healthcare as they provide accurate and comprehensive diagnostic imaging for various diseases and conditions. Healthcare professionals use a combination of imaging techniques to produce precise images of the patient's body, aiding in diagnosing and treating a range of medical conditions, from cancer to cardiovascular disease. The increasing demand for non-invasive diagnostic procedures is expected to fuel the growth of the multimodal imaging market in the coming years, underscoring the significance of these centers.
Prominent Players in Multimodal Imaging Market
- Siemens Healthineers
- GE Healthcare
- Philips Healthcare
- Fujifilm Holdings Corporation
- Canon Medical Systems Corporation
- Hologic, Inc.
- Shimadzu Corporation
- Agfa-Gevaert Group
- Hitachi, Ltd.
- Samsung Electronics Co., Ltd.
- Carestream Health
- Esaote S.p.A.
- Ziehm Imaging GmbH
- Toshiba Medical Systems Corporation
- Planmed Oy
- Bracco Imaging S.p.A.
- Dexcom, Inc.
- Nihon Kohden Corporation
- Guerbet Group
- Mindray Medical International Limited
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Diagnostic and Research Application Segment to Drive Higher Sales Due to the Increasing Demand for Accurate and Precise Diagnostic Imaging
SkyQuest reported that the increasing demand for accurate and precise diagnostic imaging, particularly for cancer and cardiovascular diseases, is driving the rapid development of the Multimodal Imaging market, with the Diagnostic and Research Application segment emerging as a significant contributor in 2021. This trend is expected to continue from 2022 to 2030. According to SkyQuest, approximately 10% of all healthcare spending in the United States is on diagnostic imaging. The reports also suggest that multimodal imaging techniques, such as positron emission tomography (PET) and magnetic resonance imaging (MRI), can provide complementary information for diagnosing and monitoring cancer patients.
SkyQuest's research analysis has projected North America to become a dominant player in the Multimodal Imaging market from 2022 to 2030, growing at a CAGR of 5.82% during the forecast period. The expansion in the region can be attributed to the presence of major manufacturers and the increasing prevalence of chronic diseases such as cancer and cardiovascular diseases, which require accurate and timely diagnosis. Additionally, the recent launch of the Human BioMolecular Atlas Program (HuBMAP) by the US National Institutes of Health (NIH) to create a comprehensive map of the human body at the cellular level using multimodal imaging technologies is further driving the market's growth in the region.
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Equipment Type Segment to Exhibit Strong Growth Due to Increasing Adoption of Hybrid Imaging Technologies
The Multimodal Imaging market was dominated by the Equipment Type segment in 2021 and is projected to maintain its dominance from 2022 to 2030 due to the growing demand for high-precision and innovative imaging equipment. This trend is being driven by the increasing adoption of hybrid imaging technologies such as PET/CT and SPECT/CT, which require advanced imaging equipment with high accuracy and precision.
According to recent analysis, the Asia Pacific region has emerged as a significant contributor to the rapid development of the Multimodal Imaging market and is expected to maintain its leading position until 2030. SkyQuest's forecast indicates a substantial growth rate of 8.97% CAGR during the forecast period, which can be attributed to the growing number of healthcare facilities and increasing demand for advanced diagnostic techniques in the region. The Indian government's plan to establish 150,000 health and wellness centers across the country by 2022, providing diagnostic and treatment services to rural populations, is expected to further drive demand for multimodal imaging technologies in the region.
A comprehensive analysis of the major players in the Multimodal Imaging market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Multimodal Imaging Market
- Siemens Healthineers Company, a prominent developer of precision vascular robotics, presented the findings of a groundbreaking study demonstrating the safety and efficacy of CorPath GRX Neurovascular System in robotic-assisted neurovascular aneurysm embolization. This study represents a significant step forward in the company's mission to expand the use of precision robotics in neurovascular treatment. It was an international, multicenter, single-arm, and prospective study, making it the world's first trial on robotic-assisted neurovascular aneurysm embolization.
- Mediso Ltd announced that it had acquired Bartec Technologies Ltd, a UK-based company specializing in supplying, installing, and supporting nuclear medicine and molecular imaging equipment and accessories. This acquisition will strengthen Mediso's market position in the UK and Ireland. The financial details of the acquisition have not been disclosed. Mediso Medical Imaging Systems, headquartered in Budapest, is a dynamic supplier of nuclear medicine and modern hybrid imaging equipment to healthcare and medical research institutions worldwide.
Key Questions Answered in Multimodal Imaging Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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