Multimodal Imaging Market in terms of revenue was estimated to be worth $4.2 billion in 2023 and is poised to reach $5.5 billion by 2028, growing at a CAGR of 5.7 % from 2023 to 2028 according to a new report by MarketsandMarkets™. The major factors driving the growth of this market include rising patient population, various chronic diseases, and technological advancements along with the increasing adoption of multimodal for diagnostic imaging.
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Technology segment to register significant growth rate over the forecast period of 2023-2028
Based on technology, the global multimodal imaging market is segmented into PET-CT, PET-MR, SPECT-CT, OCT/FMT, and other multimodal imaging market. The SPECT/CT segment is anticipated to register the second highest growth rate over the forecast period. The PET/CT multimodal segment accounted for the highest share of the multimodal market in 2022.
Brain & Neurology segment in end user to register significant growth rate over the forecast period of 2023-2028
Based on end use, the global multimodal imaging market is segmented into brain & neurology, cardiology, ophthalmology, oncology, and research application. The brain and neurology segment is anticipated to register the second highest growth rate over the forecast period. The oncology application segment accounted for the highest share of the multimodal market in 2022.
The hospitals segment accounted for the largest share of the multimodal market, by end user, in 2022
Based on end user, the multimodal market is segmented into hospitals, diagnostic imaging centres, research and academia and other end users. The hospitals segment accounts for the largest share of the market in 2022. Factors attributing to the efficiency of conducting multiple scans during a single session reduces patient exposure to radiation and minimizes the need for additional tests, resulting in optimized healthcare delivery and cost-effectiveness, share of this particular are increasing cancer incidences and increasing number of surgeries performed in hospitals are driving the growth of this segment.
The Asia Pacific market to register a significant growth in the market during the forecast period
The Asia Pacific multimodal market is estimated to register a significant growth from 2023 to 2028. The increasing patient population, rising geriatric population, rapid economic growth and increasing disposable income are driving the market growth in APAC countries. This region is having a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.
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Multimodal Imaging Market Dynamics:
- Growing application of multimodal imaging systems
- High cost of multimodal imaging systems
- Availability of reimbursement and insurance coverage for multimodal imaging scans
- Growing end-user preference for refurbished equipment
Key Market Players:
As of 2022, prominent players in the multimodal market are GE healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Neusoft Corporation (China), and Topcon Corporation (Japan).
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