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.
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. The increasing demand for early disease detection and the rising prevalence of chronic diseases are key factors driving market growth. In addition, the advent of technologically advanced imaging modalities is another major factor propelling market growth. For instance, in May 2019, Philips launched its new multi-modal computed tomography (CT) scanner, which can be used for various applications such as oncology, cardiology, and neurology.
Moreover, the growing adoption of artificial intelligence (AI) in medical imaging is another key factor driving market growth. AI-based imaging is gaining popularity as it helps reduce human error and improve accuracy in image interpretation. For instance, in May 2019, GE Healthcare and NVIDIA Corporation collaborated to develop an AI-based platform for medical imaging. This platform will help doctors in early diagnosis and treatment of diseases.
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However, the high cost of imaging modalities is a key factor restraining market growth. In addition, the lack of trained professionals is another major challenge faced by the market.
Over the last decade, substantial progress and technological advancements have been made in the area of medical imaging. This has resulted in the emergence of several new imaging modalities and techniques, which are being increasingly used for the diagnosis and treatment of various diseases and disorders. Multi-modality imaging refers to the use of two or more imaging modalities for a single patient. It is a relatively new concept in medical imaging, and is being increasingly used for the diagnosis of various diseases and disorders.
Multi-modality imaging has several advantages over traditional single modality imaging techniques. It provides a more complete picture of the diseased tissue or organ, as different modalities provide complementary information. This helps in accurate diagnosis and treatment of the disease. Multi-modality imaging is also helpful in detecting small lesions and abnormalities which may be missed by single modality imaging.
The global multi modal imaging market is expected to grow at a healthy rate during the forecast period. The market is primarily driven by the increasing prevalence of chronic diseases, rising awareness about early diagnosis, and technological advancements. The availability of reimbursement policies is also expected to drive the market growth. However, the high cost of imaging equipment and procedures is expected to restraint market growth to a certain extent.
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Some Key Highlights From the Report
- Multi-modal imaging is an emerging technology that uses two or more modalities for image generation. This technique is used for early diagnosis and treatment of diseases. Multi-modal imaging systems offer high sensitivity and specificity, which helps in early diagnosis of diseases.
- There is a growing demand for multi-modal imaging systems in the healthcare industry owing to the benefits offered by these systems. Multi-modal imaging systems are used for comprehensive diagnosis and treatment of diseases. These systems help in early detection and treatment of diseases, which helps in reducing the cost of healthcare.
- PET-CT systems segment is expected to register fastest CAGR growth over the forecast period owing to rapid adoption rate of integrated PET & CT systems in cancer diagnosis. In addition, ongoing technical advancements in the field of image reconstruction & processing software is projected to fuel growth of this segment.
- Clinical research laboratories segment is expected to register fastest CAGR growth over the forecast period due to increasing public and private sector investment in research and development of new drugs.
- Some major companies in the global market report include 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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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
- North America
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