Market Size of Multimodal Imaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Multimodal Imaging Market Analysis
The multimodal imaging market was expected to expand with a CAGR of nearly 5.2% during the forecast period. The major factors attributing to the growth of the multimodal imaging market are the growing incidence of chronic diseases like cancer, cardiac disorders, etc., and the increasing geriatric population globally.
According to the United Nations, the number of people aged above 60 years is expected to double by the year 2050, rising from 962 million globally in 2017 to 2.1 billion in 2050. Furthermore, the advancements in the diagnostic imaging, like using artificial intelligence in CT scans and growing health expenditure is a constructive sign for any medical device market including multimodal imaging systems, the adoption of advanced tools and equipment comprising multimodal imaging systems for diagnostics and research applications is growing in developing regions, which drive the market growth.
However, the high cost of multimodal imaging systems and lack of appropriate healthcare infrastructure are the factors restraining the market.
Multimodal Imaging Industry Segmentation
As per the scope of the report, multimodal imaging systems describe to concurrent production of signals from more than one imaging technique. Multimodal imaging facilitates analyzing more than one molecule at a time so that cellular processes can be analyzed at the same time or the progression of these events can be monitored in present.
| By Technology | |
| PET/CT Systems | |
| SPECT/CT Systems | |
| PET/MR Systems | |
| Others |
| By Application | |
| Oncology | |
| Ophthalmology | |
| Cardiology | |
| Others |
| By End-User | |
| Hospitals | |
| Diagnostic Centers | |
| Others |
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Multimodal Imaging Market Size Summary
The multimodal imaging market is poised for significant growth, driven by the increasing prevalence of chronic diseases such as cancer and cardiovascular disorders, alongside a rising geriatric population worldwide. The integration of advanced technologies, including artificial intelligence in diagnostic imaging, is enhancing the capabilities of multimodal imaging systems, thereby boosting their adoption in both diagnostics and research applications. This trend is particularly evident in developing regions, where the demand for advanced medical tools is on the rise. However, the market faces challenges due to the high costs associated with multimodal imaging systems and the lack of adequate healthcare infrastructure in certain areas.
Regionally, North America is expected to maintain its dominance in the multimodal imaging market, supported by a high incidence of chronic diseases and a robust healthcare infrastructure. The United States, in particular, holds a significant market share due to its large patient population and the rapid adoption of advanced imaging technologies. The PET/CT systems segment is anticipated to experience the fastest growth, driven by the increasing need for early and accurate disease diagnosis, particularly in cancer and cardiology. The market is moderately competitive, with key players like GE Healthcare, Siemens Healthineers, and Koninklijke Philips N.V. leading the charge in innovation and market presence.
Multimodal Imaging Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Prevalence of Chronic Illness
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1.2.2 Technological Advancements in Diagnostic Imaging Modalities
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1.3 Market Restraints
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1.3.1 High Cost of Multimodal Imaging Systems
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1.3.2 Shortage of Adequate Healthcare Infrastructure
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Technology
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2.1.1 PET/CT Systems
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2.1.2 SPECT/CT Systems
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2.1.3 PET/MR Systems
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2.1.4 Others
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2.2 By Application
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2.2.1 Oncology
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2.2.2 Ophthalmology
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2.2.3 Cardiology
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2.2.4 Others
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2.3 By End-User
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2.3.1 Hospitals
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2.3.2 Diagnostic Centers
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Multimodal Imaging Market Size FAQs
What is the current Multimodal Imaging Market size?
The Multimodal Imaging Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Multimodal Imaging Market?
GE Healthcare, Siemens Healthineers AG, Koninklijke Philips N.V., Mediso Ltd. and Spectrum Dynamics Medical are the major companies operating in the Multimodal Imaging Market.
