The Global Multi-Modal Imaging Market size reached USD 2.17 Billion in 2021 and is expected to register a revenue CAGR of 4.3% during the forecast period, according to latest analysis by Emergen Research. Rapid technological advancements and improvements in multi-modal imaging modalities for diagnostics and increased adoption of imaging equipment owing to rising prevalence of chronic disorders, increasing investment in research and development activities and research grants promoting multi-modal imaging research, and potential for a diverse range of applications are crucial factors driving market growth.
Over the last decade, substantial progress and technological advancements in functional and anatomical imaging techniques, allowing for rapid and precise data acquisition and interpretation have driven traction of the technology. As a result, multimodal imaging is currently more widely used to facilitate diagnosis, disease process identification, treatment improvement, and patient monitoring. Furthermore, multimodal imaging accelerates the identification of new imaging markers and expands understanding of cancer\’s pathological processes. Multimodal clinical NM, PET, and MRI techniques have gained importance in the growing fields of molecular and functional imaging for cancer screening, glioma neuro-assessment, integrative stroke imaging testing, and functional brain imaging assessments.
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The widespread use of fusion imaging in a variety of clinical departments has prompted the development of hybrid multimodal imaging modalities such as PET/CT, MR/CT, SPECT/CT, and CT/CT, as well as a new clinical environment in which practitioners from different specialty areas work collaboratively to improve diagnosis and reporting accuracy for various diseases. Additionally, rapid development can be attributable to a number of causes, including the implementation of new imaging technologies such as advanced contrast agents, computer-assisted programs, and image fusion approaches as well as an increasing elderly patient population who are more susceptible to chronic diseases with co-morbidities like cardiovascular diseases, which are key factors driving market revenue growth.
However, multi-modal imaging system require high-value investments to install and maintain and becomes unaffordable to healthcare facilities in many underdeveloped and developing countries. Additionally, technical errors such as hardware malfunctions or bugs and vulnerability to cyber-attacks, as well as power outages, might impair the functionality of multi-modal imaging instruments. These factors are expected to hamper market revenue growth to some extent over the forecast period.
Key Players operating in the industry are:
Siemens Healthcare GmbH, General Electric Company, United Imaging Healthcare Co. Ltd., Koninklijke Philips N.V., Infraredx Inc., IBM corporation, Canon Inc., Neusoft Medical Systems Co. Ltd., Spectrum Dynamics Medical, and Mediso Medical Imaging Systems Kft.
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Some Key Highlights From the Report
PET-CT systems segment is expected to register fastest revenue CAGR over the forecast period. Merging of anatomical and functional data collected concurrently by the hybrid scanner is the foundation of PET/CT enables doctors to obtain more reliable information, with which to diagnose or treat a patient by integrating anatomy captured by CT with functions and processes recorded by PET. Furthermore, the resultant image is made up of co-registered scans, which means they were all taken using the same procedures and with the extra benefit of the patient resting in same position for both PET and CT. Several new revolutionary technologies such as continuous data gathering and bed motion, as well as greater picture resolutions, were released last year, highlighting advancements over prior generations of PET/CT. Companies have recently developed and introduced many technological advances in PET/CT (positron emission tomography/computed tomography) systems.
Clinical research laboratories segment is expected to register fastest revenue CAGR over the forecast period. This type of imaging modality is useful in preclinical research as it allows for reliable detection of chemical efficacy in animals with high sensitivity and resolution, thus allowing identification, development, and improvement of therapeutic drug candidates. As a result, the development of multi-modality imaging facilities in clinical research settings is expected to improve existing capabilities for in vivo imaging of drug distribution and interactions with specific targets.
Multi-modal imaging market in Europe is expected to register a rapid revenue growth rate during the forecast period owing to increasing research & development activities and government-funded research grants in the field of multimodal imaging. For instance, COMULIS – Correlated Multimodal Imaging in Life Sciences is a COST Action sponsored by the European Union with the goal of fostering much-needed collaborations in order to make CMI a more common practice. Furthermore, The European Association of Nuclear Medicine (EANM) and the European Society of Radiology (ESR) conducted a survey among their individual membership to collect information about the status of multimodality imaging in their facilities that revealed significant adoption of the existing practice of multimodality imaging in Europe, thus promoting multimodality imaging research and integrating it into clinical practice.
On 9 May 2022, Vevo F2, which is the world\’s first ultra-high to low frequency (71MHz-1MHz) ultrasound and photoacoustic multi-modal imaging system for preclinical usage, was launched by FUJIFILM VisualSonics Inc., which is a global pioneer in ultra-high frequency ultrasound and photoacoustic imaging systems. The Vevo F2 offers high-definition image processing and a brand-new signal flow from transducer to display screen. This improves image clarity and, when combined with multi-line processing, increases frame rates dramatically above previous generation platforms.
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Emergen Research has segmented the global multi-modal imaging market on the basis of technology type, application, end-use, and region:
Technology Type Outlook (Revenue, USD Million; 2019–2030)
PET-CT systems
Pet-MRI systems
SPECT-CT systems
Others
Application Outlook (Revenue, USD Million; 2019–2030)
Brain & Neurology
Cardiology
Oncology
Ophthalmology
Others
End-use Outlook (Revenue, USD Million; 2019–2030)
Hospitals
Diagnostic Centers
Clinical Research Laboratories
Regional Outlook (Revenue, USD Million; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Report Highlights:
Besides offering a vivid depiction of the global Multi Modal Imaging business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
