PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1605787
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1605787
Multimodal Imaging Market size was valued at USD 4,290.43 Million in 2023, expanding at a CAGR of 5.79% from 2024 to 2032.
Radiology positioning aids are specialized tools used in medical imaging (such as X-rays, CT scans, and MRIs) to help position and stabilize patients during imaging procedures. These aids ensure that patients are correctly aligned, which is crucial for obtaining clear, accurate images and for avoiding the need for repeat exposures.
Multimodal Imaging Market- Market Dynamics
Increasing prevalence of chronic disorders, and increasing application in clinical research & need for early diagnosis is expected to propel market demand
The increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and neurodegenerative disorders, is a major driver for market growth. These diseases often require advanced diagnostic techniques for accurate detection, treatment planning, and monitoring. Multimodal imaging plays a critical role in cancer treatment, where PET/CT or MRI/PET can help detect tumors, assess tumor metabolism, and evaluate treatment effectiveness. Increased awareness about the benefits of early diagnosis, especially in conditions like cancer and neurological disorders, is fueling demand for advanced diagnostic imaging tools. Patients and healthcare providers are increasingly seeking methods that can provide comprehensive insights, such as multimodal imaging, which combines different modalities for better accuracy.
Multimodal imaging is widely used in clinical research to study disease mechanisms, drug development, and treatment efficacy. The demand for advanced imaging systems in research settings drives market growth, particularly in oncology, neurology, and cardiovascular research. Pharmaceutical and biotech companies are investing in multimodal imaging for preclinical and clinical trials to enhance the understanding of drug effects. Further, portability of multimodal imaging systems has increased their adoption in point-of-care settings, making it easier to access these technologies outside of traditional hospital environments.
Multimodal Imaging Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.79% over the forecast period (2024-2032)
Based on Imaging Type segmentation, the PET/CT segment was predicted to show maximum market share in the year 2023, as these scans offer excellent imaging of bones & other structure.
Based on Application segmentation, cardiology segment was the leading Application segment in 2023, due to the high prevalence of stroke, high blood pressure related diseases.
Based on End User segmentation, hospitals segment was the leading End User segment in 2023, mainly due to high demand for imaging devices in hospitals.
On the basis of region, North America was the leading revenue generator in 2023, due to the adoption of new technology & awareness of healthcare.
Global Multimodal Imaging Market is segmented on the basis of Imaging Type, Application, End User, and Region.
The market is divided into five categories based on Imaging Type: PET/CT, PET/MR, SPECT/CT, OCT/FMT, and others. The PET/CT segment dominates the market. The PET/CT imaging are preferred & available at major hospital & clinics which is aiding to segment demand.
The market is divided into five categories based on Application: cardiology, brain & neurology, ophthalmology, oncology, and others. The cardiology segment dominates the market. High prevalence of cardiac incidents, blood cancer are mainly boosting segment growth.
The market is divided into four categories based on End User: hospitals, diagnostic centers, academic research, and others. The hospitals segment dominates the market and is expected to maintain its high dominance during the forecast period. Multimodal imaging system are highly needed in hospital for medical procedures of cancer and other disease treatment which is expected to boost market growth.
Multimodal Imaging Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, particularly the United States, holds the largest share of the global multimodal imaging market. Advanced healthcare infrastructure with widespread availability of sophisticated medical imaging technologies is boosting regional growth. The Asia-Pacific region is expected to witness the fastest growth in the multimodal imaging market. Rising burden of chronic diseases due to increasing urbanization, aging populations, and lifestyle changes. Expanding medical tourism in countries like India and Thailand, which boosts the adoption of advanced imaging technologies & market growth.
The multimodal imaging market is highly competitive, with several key players driving innovation and technological advancements. Companies in this market focus on developing hybrid imaging systems, integrating AI and machine learning. Major players are focusing on developing hybrid imaging systems e.g., PET-CT, PET-MRI that combine anatomical and functional imaging. Leading companies are heavily investing in R&D to develop next-generation imaging systems with better resolution, faster processing times, and reduced radiation doses. Key players are expanding into emerging markets such as Asia-Pacific, Latin America where healthcare infrastructure is improving, and demand for advanced diagnostic tools is rising.
In March 2023, Philips & Champalimaud collaborated to attain 50% reduction in diagnosis imaging operations.
In November 2022, Canon Inc., announced its plan to form Canon Healthcare Inc. to expand their business.