Dublin, Nov. 15, 2019 (GLOBE NEWSWIRE) -- The "Multimodal Imaging Market by Technology (PET-CT, SPECT-CT, PET-MR, OCT, Trimodal), Application (Oncology, Cardiology, Brain, Ophthalmology, Musculoskeletal), End User (Hospitals, Diagnostic Centers, Academia, Pharma-Biotech) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global multimodal imaging market is projected to reach USD 2,911.3 million by 2024 from USD 2,345.7 million in 2019, at a CAGR of 4.4% from 2019 to 2024.
Growing applications of multimodal imaging systems, technological advancements in diagnostic imaging modalities, availability of funding for research, favorable reimbursement scenario, growing insurance coverage, and increasing R&D into radiotracers are some of the key factors driving the multimodal imaging market. However, the high cost of multimodal imaging systems, lack of infrastructure in emerging countries, and a dearth of trained professionals are expected to limit market growth to a certain extent.
The major players operating in the multimodal imaging market are GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), United Imaging Healthcare Co., Ltd. (China), Canon Medical Systems Corporation (Japan), Mediso Medical Imaging Kft (Hungary), Neusoft Medical Systems Co., Ltd. (China), Spectrum Dynamics Medical (Switzerland), Infraredx, Inc. (Japan), Topcon Corporation (Japan), Carl Zeiss AG (Germany), and Heidelberg Engineering (Germany).
The PET/CT systems segment accounted for the largest share of the global multimodal imaging market in 2018
Based on technology, the multimodal imaging market is broadly segmented into PET/CT systems, PET/MR systems, SPECT/CT systems, OCT/Fundus Imaging systems, and other multimodal imaging systems (tri-modality systems such as SPECT/CT/PET, PET/CT + MR, and IVUS + NIRS systems, among others). The PET/CT systems segment accounted for the largest share of the multimodal imaging market in 2018. This can be attributed to the increasing demand for early and accurate cancer diagnosis, growing clinical evidence for the early detection of Alzheimer's disease, increasing applications of PET/CT systems in cardiology, favorable reimbursement scenario, and the technological advancements in the field of PET/CT.
The oncology segment accounted for the largest share of the multimodal imaging market in 2018
On the basis of application, the multimodal imaging market is segmented into brain & neurology, cardiology, oncology, ophthalmology, and other applications. The oncology segment accounted for the largest market share in 2018. This can be attributed to the expanding use of multimodal imaging systems in oncology diagnosis, increasing demand for the early & accurate diagnosis of cancer, and growing clinical evidence on the use of multimodal imaging in the diagnosis of novel cancer types.
Europe accounted for the second-largest share of the global market in 2018
The multimodal imaging market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe accounted for the second-largest share of the market in 2018. Factors such as growing product approvals and rising public-private investments for developing multimodal imaging modalities for novel applications are the major factors driving market growth in Europe.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Multimodal Imaging: Market Overview
4.2 Geographic Analysis: Multimodal Imaging Market Share, By Application and Region, 2018
4.3 Technology Analysis: Market Size, 2019 vs 2024 (USD Million)
4.4 End-User Analysis: Market Share, 2019 vs 2024
4.5 Geographic Snapshot of the Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Applications of Multimodal Imaging Systems
5.2.1.2 Technological Advancements in Diagnostic Imaging Modalities
5.2.1.3 Availability of Funding for Research
5.2.2 Restraints
5.2.2.1 High Cost of Multimodal Imaging Systems
5.2.2.2 Lack of Adequate Healthcare Infrastructure
5.2.3 Opportunities
5.2.3.1 Availability of Reimbursement and Insurance Coverage for Scans
5.2.3.2 Increasing R&D Into Radiotracers
5.2.4 Challenges
5.2.4.1 Dearth of Trained Professionals
6 Multimodal Imaging Market, By Technology
6.1 Introduction
6.2 PET/CT Systems
6.2.1 PET/CT Systems Have Almost Practically Replaced Stand-Alone PET Systems Across the World
6.2.2 PET/CT Systems Market Split By Application, 2017-2024 (USD Million)
6.2.3 PET/CT Systems Market Split By End User, 2017-2024 (USD Million)
6.3 SPECT/CT Systems
6.3.1 Improved Resolution of SPECT/CT Systems has Provided A Clear Advantage Over Stand-Alone Spect Systems
6.3.2 SPECT/CT Systems Market Split By Application, 2017-2024 (USD Million)
6.3.3 SPECT/CT Systems Market Split By End User, 2017-2024 (USD Million)
6.4 PET/MR Systems
6.4.1 PET/MR Systems Showcase Increasing Clinical Evidence With Enhanced Tissue Contrast
6.4.2 PET/MR Systems Market Split By Application, 2017-2024 (USD Million)
6.4.3 PET/MR Systems Market Split By End User, 2017-2024 (USD Million)
6.5 OCT/Fundus Imaging Systems
6.5.1 OCT/Fundus Imaging Systems Have Wide Applications in Retinal Disease Diagnosis
6.5.2 OCT/Fundus Imaging Systems Market Split By Application, 2017-2024 (USD Million)
6.5.3 OCT/Fundus Imaging Systems Market Split By End User, 2017-2024 (USD Million)
6.6 Other Multimodal Imaging Systems
6.6.1 Other Multimodal Imaging Systems Market Split By Application, 2017-2024 (USD Million)
6.6.2 Other Multimodal Imaging Systems Market Split By End User, 2017-2024 (USD Million)
7 Multimodal Imaging Market, By Application
7.1 Introduction
7.2 Oncology
7.2.1 Oncology is the Largest Application Segment of the Market
7.3 Ophthalmology
7.3.1 Technological Innovations in Ophthalmic Multimodal Imaging Systems By Key Market Players to Support Market Growth
7.4 Cardiology
7.4.1 Increasing Prevalence of Cardiac Conditions & Increasing Demand for Early Disease Diagnosis to Support Market Growth
7.5 Brain & Neurology
7.5.1 Increasing Incidence of Brain & Neurological Disorders to Propel the Adoption of Multimodal Imaging Systems
7.6 Other Applications
8 Multimodal Imaging Market, By End User
8.1 Introduction
8.2 Hospitals
8.2.1 Large Hospitals With Nuclear Medicine Departments Have Been Early Adopters of Multimodal Imaging Systems
8.3 Diagnostic Imaging Centers
8.3.1 Increasing Number of Private Imaging Centers is Contributing to the Growth of This Segment
8.4 Other End Users
9 Multimodal Imaging Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 The US Dominates the North American Market
9.2.2 Canada
9.2.2.1 Government Budget Cuts and Long Wait Time for Scans to Hamper the Market Growth
9.3 Europe
9.3.1 Germany
9.3.1.1 Favorable Reimbursement Scenario in the Country to Support Market Growth
9.3.2 UK
9.3.2.1 Government Initiatives and the Increasing Number of Funding and Research Activities Related to the Use of Multimodal Imaging are Driving Market Growth
9.3.3 France
9.3.3.1 France has the Third-Largest Government Expenditure on Healthcare - A Major Factor Driving Market Growth
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.1.1 Large Installation Base of Hybrid Imaging Systems - A Major Factor Driving Market Growth
9.4.2 China
9.4.2.1 China to Witness the Highest Growth Rate in the Global Market During the Forecast Period
9.4.3 India
9.4.3.1 Lack of Reimbursement for Diagnostic Imaging Procedures to Hamper Market Growth
9.4.4 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.1.1 Brazil Dominates the Latin American Market Due to the High Burden of Cancer
9.5.2 Mexico
9.5.2.1 Rising Incidence of Cancer to Drive Market Growth in Mexico
9.5.3 Rest of Latin America
9.6 Middle East & Africa
9.6.1 Improved Healthcare Infrastructure and Growing Awareness of Multimodal Imaging are Driving Market Growth in the MEA
10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis, 2018
10.3 Competitive Situation and Trends
10.4 Competitive Leadership Mapping
10.5 Vendor Inclusion Criteria
10.6 Vendor Dive
10.6.1 Visionary Leaders
10.6.2 Innovators
10.6.3 Dynamic Differentiators
10.6.4 Emerging Players
11 Company Profiles
11.1 Canon, Inc.
11.2 GE Healthcare
11.3 Heidelberg Engineering
11.4 Infraredx, Inc. (a Part of Nipro Corporation)
11.5 Koninklijke Philips N.V.
11.6 Mediso Medical Imaging Systems Kft
11.7 Neusoft Medical Systems Co. Ltd.
11.8 Siemens Healthineers
11.9 Spectrum Dynamics Medical
11.10 Topcon Corporation
11.11 United Imaging Healthcare Co. Ltd.
11.12 Zeiss Group
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