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HEALTHCARE & PHARMACEUTICAL

Multimodal Imaging Market Analysis by Product (Equipment, Reagent, and Software); by Technology (PET/CT Systems, SPECT/CT Systems, PET/MR Systems, OCT/Fundus Imaging Systems); by Application (Brain & Neurology, Cardiology, Oncology, Ophthalmology, and Others); and by End User (Hospitals, and Diagnostic Imaging Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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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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IN THE NEWS

  • United Imaging Healthcare Co., Ltd. - introduced uEXPLORER, a total-body PET/CT technology system.

  • General Electric Company’s - subsidiary GE Healthcare, 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 Trend Highlights Over 2023 - 2035

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~ USD 3 Billion

Forecast Year Market Size (2035)

~ USD 5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global multimodal imaging market is estimated to garner a revenue of ~USD 5 billion by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 3 billion in the year 2022. The market is estimated to grow on the back of the rising level of the geriatric population globally and the increasing research & development in radiotracer technology. According to the World Health Organization data, the global population of people aged 60 and above 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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Multimodal imaging technology helps in the early detection of diseases in fields such as urology and oncology. The global multimodal imaging market is estimated to witness growth on account of its increasing adoption in various applications including urology, cardiology, and neurological surgeries. Moreover, increasing technological advancements in diagnostic imaging modalities are also expected to drive 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 –multimodal imaging technology helps in the detection of tumor lesions in the human body. With the growing cases of cancer, the multimodal imaging market is expected to boost in the forecasted period. 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 Expenditureas per data from World Bank, global research and development expenditure in proportion to 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 it was about ~USD 4 trillion, about 19% of the GDP of United States.

  • Increasing Growth of the Biotechnology Industry as per the data, the Indian biotechnology industry is projected to reach ~USD 145 billion by the end of 2025.

Challenges

  • High Cost of Multimodal Imaging Systems and Availability of Substitute – the use of multimodal imaging methods for defining the extent of spread and the hemodynamic impact, timely diagnosis, and monitoring responses is becoming common in the treatment of malignant cardiac tumors. But still, biopsy analysis is warranted by many healthcare practitioners to obtain an accurate histologic diagnosis in cases of suspected malignant cardiac tumors.

  • Dearth of Skilled Professionals

  • Stringent Rules and Regulation Are Hindering Clinical Multimodal Imaging Technologies

The global multimodal imaging market is segmented and analyzed for demand and supply by end user into hospitals, and diagnostic imaging centers. Out of these segments, the hospital segment is anticipated to garner the largest market share by the end of 2035, backed by the rising number of hospitals globally along with the increasing growth of the hospital industry. 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.

Global Multimodal Imaging Market Regional Synopsis

The North America multimodal imaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. This can be accredited to the rising prevalence of cardiovascular diseases, the adoption of multimodal imaging systems in cardiology, and increasing healthcare expenditure in the region. According to statistics, about 695,000 patients die from heart disease every year in the United States. In addition, approximately 804,000 US citizens suffer a heart attack each year.

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

         By Application

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

        By End User

  • Hospitals
  • Diagnostic Imaging Centers

Top Featured Companies Dominating the Global Multimodal Imaging Market

  • United Imaging Healthcare Co., Ltd.

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

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