According to a new report published by UnivDatos Markets Insights, the Multimodal Imaging Market is expected to reach USD 2.7 billion by 2028 and grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into the Technology (PET/CT, SPECT/CT, PET/MRI, and Others); Application (Oncology, Cardiology, Neurology, and Others); End-users (Hospitals, Diagnostic Centers, and Others); Region/Country.
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The multimodal imaging market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Multimodal Imaging market. The multimodal imaging market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the multimodal imaging market at the global and regional levels.
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Market Overview
Multimodality imaging is widely considered to involve the incorporation of two or more imaging modalities, usually within the setting of a single examination. The demand for multimodal imaging systems is increasing due to the rising number of chronic diseases along with the increasing geriatric population. For instance, as per the WHO, approximately 1.71 billion people have musculoskeletal conditions worldwide. Musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries. Furthermore, technological advancements and increasing research & development expenditures also attributes to the market growth of multimodal imaging systems.
Some of the major players operating in the market include Some of the major players operating in the market include Canon Medical Systems Corporation, Carl Zeiss AG, GE Healthcare, Heidelberg Engineering, Infraredx Inc., Koninklijke Philips N.V., Mediso Medical Imaging Kft, MILabs B.V., Neusoft Medical Systems Co. Ltd., and Siemens Healthineers AG
COVID-19 Impact
COVID-19 has a staggering effect and a negative impact on the global economy due to imposed lockdowns and government restrictions. However, the market for multimodal imaging was not much affected by the pandemic. This mainly owing to the increased research effort to study the effects of the SAR-CoV-2 virus. Furthermore, the virus also had side effects on other organs as well which is an important reason for the market to witness growth even during a pandemic.
· Based on the technology, the market has been categorized into PET/CT, SPECT/CT, PET/MRI, and others. Among them, the PET/CT segment holds a considerable share of the market. Rising demand for the early diagnostics of cancer as well as the increasing incidences of neurological disorders such as Alzheimer’s disease attributed to the segmental growth of the PET/CT in the market.
· Based on application, the market has been categorized into oncology, cardiology, neurology, and others. The oncology segment is expected to witness a higher CAGR during the forecast period. The rising prevalence of cancer along with increasing demand for accurate diagnostics of the disease attributes to the growth of the adult segment. For instance, as per the WHO, Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.
· Based on the end-user, the market has been categorized into hospitals, diagnostic centers, and others. Among them, the hospital segment holds a considerable share of the market. This is due to the presence of qualified professionals, the availability of specialized equipment, and a huge patient base. Furthermore, the installation of technologically advanced multimodal imaging systems also catalyzes the segmental growth of hospitals.
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Multimodal Imaging Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is anticipated to grow at a substantial rate during the forecast period. The major factors such as the higher investment in research & development and the presence of well-established healthcare infrastructure in the region. For instance, the United States investments in R&D increased by 13% in 2020 in comparison with 2018 which accounted for US$ 5,86,959 in 2018 and reached US$ 6,64,058 in 2020.
The major players targeting the market include
· Canon Medical Systems Corporation
· Carl Zeiss AG
· GE Healthcare
· Heidelberg Engineering
· Infraredx Inc.
· Koninklijke Philips N.V.
· Mediso Medical Imaging Kft
· MILabs B.V.
· Neusoft Medical Systems Co. Ltd.
· Siemens Healthineers AG
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Multimodal Imaging market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the multimodal imaging market?
• Which factors are influencing the multimodal imaging market over the forecast period?
• What are the global challenges, threats, and risks in the multimodal imaging market?
• Which factors are propelling and restraining the multimodal imaging market?
• What are the demanding global regions of the multimodal imaging market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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