PUBLISHER: Grand View Research | PRODUCT CODE: 1529887
PUBLISHER: Grand View Research | PRODUCT CODE: 1529887
The global hybrid imaging market size is expected to reach USD 11.95 billion by 2030, according to a new report by Grand View Research, Inc., registering a 6.1% CAGR from 2024 to 2030. Increasing demand for accurate diagnostic techniques for cancer and cardiac disorders is expected to drive the market. Rising government initiatives for creating awareness regarding multimodal imaging devices are also expected to contribute toward market growth.
Increasing installation of such devices in research centers and institutions to enhance diagnostics in the field of oncology, cardiology, neurology, and others is expected to boost market growth. Leading players in the market are showcasing various multimodal imaging devices at medical conferences to increase their product reach. However, high cost and complications associated with these devices is expected to impede market growth during the forecast period.
Hybrid imaging devices require skilled professionals to understand the data collected by these combined devices. Therefore, various training programmes are conducted by several non-profit and government funded organizations to increase the adoption of hybrid imaging devices for the diagnosis of a disease.
North America dominated the hybrid/multimodal imaging market in 2018 and is expected to grow at a significant rate during the forecast period. The growth observed in this region is largely due to presence of global players and increasing adoption of advanced equipment such as hybrid imaging devices. Moreover, increasing awareness regarding nuclear medicine and molecular diagnostics in the region is expected to contribute toward the growth in this region.
Asia Pacific is expected register the strongest growth over the forecast period. This can be primarily attributed to growing usage of advanced devices such as PET/CT systems in radiology departments across emerging economies. Thriving medical tourism in numerous countries has piqued the interest of global market players, who are looking to invest in the development and launch of advanced software in the region. The Europe market is fueled by ongoing efforts by various non-profit organizations in conducting educational and training programs for scientists, physicians, technologists, physicists, radiographers, and others in the field.