DUBLIN--(BUSINESS WIRE)--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 2.9 billion by 2024 from USD 2.3 billion 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 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.
- Growing Applications of Multimodal Imaging Systems
- Technological Advancements in Diagnostic Imaging Modalities
- Availability of Funding for Research
- High Cost of Multimodal Imaging Systems
- Lack of Adequate Healthcare Infrastructure
- Availability of Reimbursement and Insurance Coverage for Scans
- Increasing R&D Into Radiotracers
- Dearth of Trained Professionals
- Canon, Inc.
- GE Healthcare
- Heidelberg Engineering
- Infraredx, Inc. (A Part of Nipro Corporation)
- Koninklijke Philips N.V.
- Mediso Medical Imaging Systems Kft
- Neusoft Medical Systems Co., Ltd
- Siemens Healthineers
- Spectrum Dynamics Medical
- Topcon Corporation
- United Imaging Healthcare Co., Ltd.
- Zeiss Group
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