Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "Global Multimodal Imaging Market - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The global multimodal imaging market is expected to reach a value of $5.5 billion by 2029 from $4.02 billion in 2023, growing at a CAGR of 5.35% from 2023-2029
The global multimodal imaging market is a dynamic and fiercely competitive landscape driven by technological advancements, increasing demand for precise diagnostic solutions, and a growing emphasis on personalized healthcare. The global multimodal imaging market is dominated by several key players, each with a significant industry presence and a diverse portfolio of imaging solutions.
Some of the leading players in the market include Canon Medical Systems, GE Healthcare, Koninklijke Philips, Siemens Healthineers, and Shimadzu Corporation. Furthermore, leading players invest heavily in research and development to drive innovation in multimodal imaging technologies. This includes developing advanced imaging systems with enhanced capabilities such as AI-driven image analysis, real-time image fusion, and 3D/4D imaging.
North America, particularly the US and Canada, dominates the global multimodal imaging market due to well-established healthcare infrastructure, high healthcare spending, and early adoption of advanced medical technologies. The presence of major multinational healthcare companies, research institutions, and academic centers drives innovation and market growth in this region.
The demand for multimodal imaging in the region is fueled by the prevalence of chronic diseases, the aging population, an increasing emphasis on early disease detection, and personalized medicine.
Growing Adoption of AI & Analytics in Diagnostic Imaging
The growing adoption of AI and analytics in diagnostic imaging undoubtedly creates exciting opportunities for the multimodal imaging market. By unlocking the power of complex data, AI has the potential to transform the way we diagnose and treat diseases, leading to improved patient outcomes and a more efficient healthcare system. However, navigating the ethical and regulatory landscape alongside ensuring responsible development will be critical in realizing the full potential of this transformative technology.
Multimodal Molecular Imaging in Drug Discovery and Development
The quest for faster, more efficient, and personalized drug development has led to the emergence of exciting new technologies. Among these, multimodal molecular imaging stands out as a game-changer, revolutionizing the way of visualizing and understanding diseases, ultimately shaping the future of pharmaceutical innovation, and paving the way for a booming multimodal imaging market. Multimodal imaging overcomes this limitation by seamlessly integrating data from multiple imaging modalities, such as PET, MRI, CT, and ultrasound, into a comprehensive picture.
Growing Geriatric Population & Subsequent Rise in Chronic Conditions
Multimodal imaging, the synergistic combination of two or more imaging modalities like PET, MRI, and CT, offers a multifaceted solution to the diagnostic challenges posed by chronic diseases in aging populations. Each modality provides a unique perspective, revealing anatomical structures and functional processes. The growing need for advanced diagnostics in the face of rising chronic disease prevalence among older adults propels the multimodal imaging market forward. Industry analysts anticipate a significant rise in market value.
Technological Advancements in Diagnostics Imaging Modalities
The healthcare landscape is witnessing a pivotal shift towards personalized medicine, demanding ever-more accurate and comprehensive diagnostic tools. The scope of multimodal imaging is where technological advancements in individual imaging modalities are shaping their markets and fueling the explosive growth of a combined force. Integrated scanners combining two or more modalities, like PET/CT or PET/MRI, offer one-stop solutions, streamlining workflows and reducing patient discomfort. Combining information from various modalities gives clinicians a more comprehensive view of disease, leading to earlier and more accurate diagnoses and ultimately improving patient outcomes.
Recent Developments & Partnerships in the Multimodal Imaging Industry
The multimodal imaging market, fueled by the convergence of diverse imaging modalities, is undergoing a period of rapid evolution. Recent developments and strategic partnerships are pushing the boundaries of technology and propelling the market toward broader adoption and impactful applications. Collaborations between pharmaceutical and imaging companies accelerate drug development by utilizing multimodal imaging for early disease detection, target validation, and therapy monitoring. Research institutions and industry players collaborate to translate innovative imaging technologies into clinical practice.
SEGMENTATION INSIGHTS
INSIGHTS BY TECHNOLOGY
The global multimodal imaging market is segmented based on technology into PET/CT, PET/MR, SPECT/CT, OCT/FMT, and others. The PET/CT accounted for the largest market in 2023. PET utilizes radiopharmaceuticals to detect metabolic activity within tissues, aiding in diagnosing and staging cancers, neurological disorders, and cardiovascular diseases. CT offers detailed anatomical information, facilitating the localization and characterization of abnormalities detected on PET scans. PET/CT is widely used in oncology for tumor detection, staging, treatment planning, and response assessment, as well as in cardiology and neurology.
PET/MR offers advantages over PET/CT, including improved soft tissue contrast, reduced radiation exposure, and potential synergistic effects between PET and MRI. PET/MR is utilized in oncology, neurology, and cardiology for applications such as tumor imaging, neurodegenerative disease assessment, and myocardial perfusion imaging. SPECT/CT integrates the functional imaging capabilities of SPECT with the anatomical imaging provided by CT. SPECT/CT is used in nuclear medicine for myocardial perfusion imaging, bone scans, thyroid imaging, and oncological applications. OCT/FMT is applied in ophthalmology for retinal imaging and angiography and in oncology for preclinical research and drug development.
INSIGHTS BY APPLICATION
The global multimodal imaging market encompasses various diagnostic and clinical applications and applications in biomedical research. From brain & neurology and cardiology to oncology, ophthalmology, obstetrics and gynecology, and beyond, multimodal imaging is pivotal in advancing medical diagnostics, treatment planning, and research across various medical specialties.
Multimodal imaging techniques such as MRI, CT, PET, SPECT, and fMRI are used for the diagnosis and treatment planning of neurological disorders such as stroke, brain tumors, epilepsy, and neurodegenerative diseases. MRI, CT, ultrasound, and molecular imaging are also utilized to assess tumor microstructure, vascularity, and metabolism, guiding personalized treatment approaches and monitoring disease progression. In cardiology, multimodal imaging assesses cardiac structure, function, perfusion, and viability. Techniques such as PET/CT, PET/MRI, echocardiography, cardiac MRI, and coronary CT angiography are utilized to diagnose and manage cardiovascular diseases, including coronary artery disease, heart failure, valvular disorders, and cardiomyopathies.
INSIGHTS BY END-USER
The global multimodal imaging market encompasses various end-users, including hospitals, diagnostic imaging centers, research institutions, and others. Each end-user segment contributes uniquely to the market's growth and evolution, fueling demand for advanced multimodal imaging technologies and applications across different medical diagnostics and research domains.
Hospitals represent the largest end-user segment in the global multimodal imaging market. These facilities utilize multimodal imaging systems for diagnostic and therapeutic applications across various medical specialties, including radiology, neurology, cardiology, oncology, ophthalmology, and orthopedics. Diagnostic imaging centers are specialized facilities that provide various imaging services to patients referred by healthcare providers. These centers offer advanced multimodal imaging techniques such as MRI, CT, PET, SPECT, ultrasound, and nuclear medicine imaging. Diagnostic imaging centers are vital in early disease detection, screening, and monitoring, serving as important end-users in the multimodal imaging market.
KEY QUESTIONS ANSWERED
- How big is the global multimodal imaging market?
- What is the growth rate of the global multimodal imaging market?
- Which region dominates the global multimodal imaging market share?
- What are the significant trends in the global multimodal imaging market?
- Who are the key players in the global multimodal imaging market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 341 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $4.02 Billion |
| Forecasted Market Value (USD) by 2029 | $5.5 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Market Opportunities & Trends
- Growing Adoption of AI & Analytics in Diagnostic Imaging
- Multimodal Molecular Imaging in Drug Discovery and Development
- Availability of Reimbursement and Insurance Coverage for Scans
Market Growth Enablers
- Growing Geriatric Population and Subsequent Rise in Chronic Conditions
- Technological Advancements in Diagnostics Imaging Modalities
- Recent Developments & Partnerships in Multimodal Imaging Industry
- Non-Invasive Imaging Fueling Growth in Neuroscience & Oncology Application
Market Restraints
- High Operating Cost of Imaging Systems
- Growing Preference for Refurbished Equipment
- Lack of Skilled Professionals
Key Company Profiles
- Canon Medical Systems
- GE Healthcare
- Koninklijke Philips
- Shimadzu Corporation
- Siemens Healthineers
Other Prominent Vendors
- Bruker
- Mediso
- MILabs B.V.
- MinFound Medical Systems
- MR Solution
- Shanghai United Imaging Healthcare
- SOFIE
- Spectrum Dynamics Medical
- Topcon
For more information about this report visit https://www.researchandmarkets.com/r/mnigee
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