Multimodal Imaging Market Worth $1,574.8 Million by 2024- Exclusive Report by Meticulous Research®

LONDON, April 3, 2019 (Newswire.com) - ​​​According to this latest publication from Meticulous Research^®, the global multimodal imaging market is expected to grow at a CAGR of 5.3% from 2018 to 2024 to reach $1,574.8 million. The growth of this market will be driven by factors such as rising prevalence of chronic diseases, growing number of hospitals and imging centers, technological advancements in the development of imaging systems, and increasing adoption of preclinical imaging in drug discovery. Moreover, significant opportunities from developing economies further support the growth of this market.

With the advent of imaging modalities, the access to various parameters of human body has been made possible. The fusion of these data has become inevitable for the best understanding of the pathophysiology and one such branch enabling this is nuclear medicine. Nuclear medicine imaging involves the use of small amounts of radioactive materials called radiotracers that are injected into the bloodstream, inhaled or swallowed. The radiotracer travels to the area being examined and gives off its energy in the form of gamma rays which are detected by a special camera to create images of the inside of your body. Thus, nuclear imaging provides unique information which cannot be obtained using other imaging procedures and offers the potential to identify disease in its earliest stages.

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Traditionally, in nuclear imaging, separate images were obtained for the same patient from two or more imaging systems, which is then compared by radiologists to detect disease at an early stage. This method is prone to errors because of the difficulty in superimposing complex images together. Moreover, gross changes in patient position or changes in the position of internal organs, such as the bladder or diaphragm, can make alignment of images difficult even if they are from the same modality. Therefore, to reduce such errors, the image fusion technology is made to combine relevant information from two or more images in a single image, which is called fusion imaging or multimodal imaging. 

Multimodal imaging combines the innate advantages of the fused imaging technologies synergistically, forming more powerful imaging modality. It combines techniques such as such as Computed Tomography (CT), Magnetic Resonance Imaging (MRI), and Positron Emission Tomography (PET) to accurately identify the diseased and the normal tissues. For instance, combination of PET or Single-Photon Emission Computed Tomography (SPECT) and CT imaging, overcomes the low resolution of the PET or SPECT image with the high resolution of CT image. In addition, this combination provides high sensitivity to the procedure, enabling accurate diagnosis. Due to these benefits, the leading players are consistently launching new systems in the market. In 2017, Siemens Healthineers, a part of Siemens AG (Germany) launched Biograph Vision PET/CT system with reduced crystal elements, offering higher spatial resolution that improves lesion detectability in cancer diagnosis.

In addition to diagnosis, this technique is also used in small animal imaging for drug discovery and development procedures. The technique helps in understanding dynamic biological processes, gene expression, enzyme and protein activity, progression, treatment of diseases, biodistribution, pharmacodynamics or pharmacokinetics of drug molecule in model organisms. Such imaging data assist researchers in the study of the fundamental aspects of human system function and dysfunction. Key players like Bruker Corporation (U.S.), MR Solutions Ltd. (U.K.), and PerkinElmer, Inc. (U.S.) are providing pre-clinical multimodal imaging systems for research applications. In 2018, Bruker Corporation (U.S.) introduced new preclinical PET/CT Si78 scanner for whole-body preclinical imaging with homogeneous, high-resolution, and quantitative PET/CT imaging with a large field of view. Also, in 2018, MR Solutions Ltd. (U.K.) launched pre-clinical CT scan models for sequential multimodal imaging with MRI and CT scanners.

The global multimodal imaging market is segmented by product (multimodal imaging equipment, reagents, and software), technology (PET/CT, SPECT/CT, PET/MRI, and others), application (clinical applications and research applications), end user (hospitals, diagnostic centers, academic & research institutes, and others), and geography.

Based on the technology type, PET/CT segment commanded the largest share of the global multimodal imaging systems market in 2018, mainly attributed to high resolution, sensitivity, and efficiency of this technology in detection of tumor lesions.

Based on the application type, clinical applications segment commanded the largest share of the global multimodal imaging systems market in 2018. The large share of this application segment is attributed to rise in volume of imaging services, increased demand by patients and physicians, and technological advances in imaging technologies.

Geographically, this market is segmented in to North America (U.S. and Canada), Europe (Germany, France, U.K., Spain, Italy, and RoE), Asia-Pacific (Japan, China, India and RoAPAC), Latin America, and Middle East & Africa. North American region dominated the global multimodal imaging systems market in 2018, followed by Europe and Asia-Pacific. The large share of the North American region is attributed to the well-established healthcare system in the region, greater adoption of advanced technologies, growing prevalence of chronic diseases, presence of large number of hospitals, growing aging population, and relatively greater access to healthcare.

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The global multimodal imaging market is concentrated with leading companies occupying one-third of the market share. The key players operating in this market are GE Healthcare (U.S.), Siemens AG (Germany), Koninklijke Philips N.V. (the Netherlands), Mediso Ltd. (Hungary), Canon Inc. (Japan), PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), MR Solutions Ltd. (U.K.), Northridge Tri-Modality Imaging, Inc. (U.S.), Shanghai United Imaging Healthcare Co., Ltd. (China), and MILabs B.V. (the Netherlands).

Key Topics Covered in This Report:
1. Introduction
2 Research Methodology 
3 Executive Summary
4 Market Insights
5 Multimodal Imaging Systems Market, by Product
6 Multimodal Imaging Systems Market, by Technology
7 Multimodal Imaging Systems, by Application
8 Multimodal Imaging Systems Market, by End User
9 Multimodal Imaging Systems Market, by Geography
10 Competitive Landscape
11 Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
12 Appendix
 

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Source: Meticulous Market Research Pvt. Ltd.