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Multimodal Imaging Market Analysis by Product (Equipment, Reagent and Software); Technology (PET/CT Systems, SPECT/CT Systems, PET/MR Systems, OCT/Fundus Imaging Systems and Others); by Application (Brain & Neurology, Cardiology, Oncology, Ophthalmology and Others); and by End User(Hospitals, Diagnostic Imaging Centers and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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  • August, 2019: United Imaging Healthcare Co., Ltd., the global market leader in advanced medical imaging and radiotherapy devices, today introduced uEXPLORER, a total-body PET/CT technology system. uEXPLORER, a comprehensive technology, aims to transform molecular imaging by providing simultaneous whole-body imaging.
  • June, 2018: General Electric Company, subsidiary of GE Healthcare, a leading provider of medical imaging, monitoring and gene therapy technologies, today launched its 800 series SPECT/CT systems including the NM 830, NM/CT 850, NM/CT 860, NM/CT 860 DR, NM/CT 870 CZT and a nuclear medicine workstation.

Global Multimodal Imaging Market Size, Forecast, and Trends Highlights Over 2022 - 2031


The global multimodal imaging market is estimated to garner a moderate revenue by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a significant revenue in the year 2021. The market is estimated to grow on the back of increasing research & development in radiotracer technology and rising level of geriatric population globally. According to the World Health Organization data, in 2020, the global population of people aged 60 and above was about 1 billion, which is expected to increase to 1.4 billion by the end of 2030 and this figure is projected to reach 2.1 billion by 2050.


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The global multimodal imaging market is also estimated to witness growth on account of increasing adoption of multimodal imaging systems in various applications including urology, cardiology and neurological surgeries. According to statistics, about 21 million people suffer from neurological disorders every year, of which about 13 million require surgery.Multimodal imaging technology helps in early symptoms detection of diseases in fields such as urology and oncology, it also helps in the detection of tumor lesions in humanbody.Moreover, increasing technological advancements in diagnostic imaging modalities and increasing funds for research are other factors driving the growth of the global multimodal imaging market in the coming years.

Global Multimodal Imaging Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Cases of Cancer Globally –  According to data from the Centers for Disease Control and Prevention, there were approximately 1,752,735 new cancer cases in the United States in 2019.

  • Increased Research & Development Expenditure – As per data by World Bank, global research and development expenditure in proportion with gross domestic product (GDP) was around 2.63% in 2020, up from 2.2% in 2018.
  • Growth of Healthcare Expenditure –According to the data, in 2020, the health expenditure of the United States was about ~USD 4 trillion, which was about 19% of the GDP.
  • Increasing Growth of BiotechnologyIndustryAs per the data, the Indian biotechnology industry was valued at around USD 61 billion in 2019, which is projected to reach ~USD 145 billion by the end of 2025.
  • Rising Government Support for Healthcare Sector – As per the data, in India, around USD 11 billion was allocated to the Ministry of Health and Family Welfare in the Union Budget for 2022-23.


  • Dearth of Skilled Professionals
  • Stringent Rules and Regulation Are Hindering Clinical Multimodal Imaging Technologies
  • High Cost of Multimodal Imaging Systems

The global multimodal imaging market is segmented and analyzed for demand and supply by enduser into hospitals, diagnostic imaging centers and others. Out of these segments, hospitals segment is anticipated to garner the largest market share by the end of 2031, backed by the rising number of hospitals globally. According to the data, the total number of hospitals in the United States in 2020 was about 6,000 and the number of hospitals in Japan in the same year was about 8,100.Moreover, the increasing growth of the hospital industry is also expected to boost the growth of this segment in the coming years.

Major Macro-Economic Indicators Impacting the Market Growth


According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Multimodal Imaging Market Regional Synopsis

Regionally, the global multimodal imaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to hold the largest market share by the end of 2031. This can be accredited to the rising prevalence of cardiovascular diseases and increasing healthcare expenditure in the region. According to statistics, about 695,000 patients die from heart diseases every year in the United States. In addition, approximately 804,000 US citizens suffer a heart attack each year.Hence such factors are estimated to foster the market growth in the region.

Further, the market in Asia Pacific region is estimated to gain significant growth during the forecast period, owing to rising growth of healthcare infrastructure in the region. According to the data, by the end of 2022, the Indian healthcare infrastructure is estimated to reach around USD 345 billion by the end of 2022.Moreover, increasing level of geriatric population is another factor estimated to propel the market growth during the forecast period. According to the World Health Organization (WHO) data, in China, people aged 60 years and above stood at around 254 million in 2019 and by 2040, it is estimated that the total population of people above 60 years of age would be around 402 million, which represents approximately 28% of the total Chinese population.


The global multimodal imaging market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global multimodal imaging market includes the following segments:

By Product

  • Equipment
  • Reagent
  • Software

By Technology

  • PET/CT Systems
  • SPECT/CT Systems
  • PET/MR Systems
  • OCT/Fundus Imaging Systems
  • Others

By Application

  • Brain & Neurology
  • Cardiology
  • Oncology
  • Ophthalmology
  • Others

By End User

  • Hospitals
  • Diagnostic Imaging Centers
  • Others

Top Featured Companies Dominating the Global Multimodal Imaging Market

  • General Electric Company

    • Company Overview

    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Siemens Healthcare GmbH
  • Mediso Ltd.
  • Neusoft Medical Systems Co., Ltd.
  • Infraredx, a Nipro Company
  • Spectrum Dynamics Medical
  • Koninklijke Philips N.V.
  • United Imaging Healthcare Co., Ltd.
  • Canon Medical Systems Corporation
  • Topcon Corporation



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