Perfusion Imaging Market Growth, Size and Insights by Modality (Computed Tomography (CT Scan), Magnetic Resonance Imaging (MRI) and Nuclear Medicine), Application (Myocardial Perfusion Imaging, Ventilation Perfusion Imaging, Functional Brain Imaging and others) and Region – Forecast till 2024
Global Perfusion Imaging Market size is expected to reach USD 7,745.57 at a CAGR of 6.34% during the assessment period (2019-2024). The Perfusion Imaging Market is growing pervasively, attributing to the growing prevalence of cardiovascular & neurological diseases. Also, the rise in the occurrences of chronic diseases associated with heart and brains alongside the increasing geriatric population drives the growth of the market significantly. Over the past decades, perfusion imaging technologies have evolved hugely, demonstrating remarkable advances.
Rapid developments in imaging technologies and diagnosis techniques accelerate market growth to an extent. Simultaneously, there has been an outstanding growth in the awareness about the benefits of imaging systems in early diagnosis and treatments, which, as a result, escalate the market growth. Additionally, increasing population and urbanization foster market growth, leading to lifestyle diseases.
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The rapidly improving global economy expands the size of the profusion imaging market, widening access to quality healthcare. Moreover, rising addictions of smoking and alcohol, which lead to increasing the cases of organ failure eventually, are boosting the growth of the market. On the other hand, stringent regulatory policies, especially in developed regions, are expected to impede the growth of the perfusion imaging market. Also, the lack of awareness regarding perfusion imaging systems in developing countries would hamper the growth of the market, largely.
Myocardial Perfusion Imaging (MPI) Test is the latest trend in heart transplant surgery. Still, how far the MPI test is useful in patients with chest discomfort? Yes, MPI surely helps in finding out if the chest discomfort has occurred due to the lack of blood flow in the heart muscle caused by narrowed or blocked heart arteries (angina).
Perfusion Imaging Market Segmentation
For the scope of understanding, the report has been segmented into three key dynamics.
By Modality: Computed Tomography (CT Scan), Magnetic Resonance Imaging (MRI), Nuclear Medicine, and others.
By Application: Myocardial Perfusion Imaging, Ventilation Perfusion Imaging, Functional Brain Imaging, and others.
By Regions: Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Perfusion Imaging Market Regional Analysis
North America is estimated to continue leading the global perfusion imaging market throughout the forecast period. The significant market share attributes to the increasing incidences of cardiovascular diseases, brain tumors, and tumor-related angiogenesis in the region. Moreover, factors such as technological advances and high per capita healthcare expenditures are expected to spur regional market growth.
The US and Canada led by the rising number of chronic diseases associated with heart and brain account for the major contributors to the growth of the North American perfusion imaging market. Furthermore, the growing heart surgeries and the increasing prevalence of coronary diseases alongside, the rapid uptake of advanced technologies and devices in the imaging process drive the regional market growth.
Europe stands second in the global perfusion imaging market, showcasing a considerable amount of growth driven by the growing prevalence of neurological disorders. Easy accessibility to specialty care services in hospitals & tertiary care centers and the augmenting demand for the cardiovascular treatment options escalate the market growth in the region.
The region witnessed increasing numbers of kidney & heart bypass procedures alongside the rising prevalence of cardiovascular diseases. Furthermore, rising healthcare expenditures led by the resurging economy in the region and spreading awareness towards perfusion imaging impact the market growth in the region, positively.
The Asia Pacific perfusion imaging market is emerging as a profitable market worldwide. The proliferating healthcare and medical imaging sectors in highly populated countries like India and China drive the regional market. Also, rising cases of patients suffering from coronary diseases, increasing geriatric populace, and advancements in imaging process foster the growth of the regional market.
Perfusion Imaging Market Competitive Analysis
Highly competitive, the perfusion imaging market appears fragmented owing to the presence of several well-established players. These players try to gain a competitive market share through strategic initiatives such as mergers & acquisitions, expansion, product & technology launch, and collaboration. Huge investments are being transpired in the R&D to bring betterments in imaging processes and to develop devices that are on a different level entirely compared to their competition.
Perfusion Imaging Market Major Players:
Players leading the global perfusion imaging market include Siemens (Germany), General Electric Company (US), Medtronic (Ireland), Bracco Diagnostic, Inc. (Italy), Canon Medical Systems Corporation (Japan), Koninklijke Philips NV (Netherlands), lantheus Medical Imaging, Inc. (US), Neusoft Corporation (China), Shimadzu Corporation (Japan), Perimed (US), Aetna (US), and Advantis Medical Imaging (Netherland), among others.
Proximo Medical, LLC (the US), a fractional commercial organization for start-up medical device technologies and international medical device companies, announced its partnership with a Singapore-based medical device innovator active in the treatment of peripheral artery disease (PAD) – the Pedra Technology, for marketing and commercialization of its perfusion monitoring technology.
Proximo offers a business acceleration solution that effectively and efficiently overcomes medical device commercialization challenges for the companies willing to enter into the US market. Pedra Technology has developed the world’s first intra-operative monitor for real-time blood perfusion assessment, which addresses a critical need for urgent vascular surgery.
Pedra system is not available for sale in the US, in such a scenario, Pedra will have to go through significant challenges navigating the US clinical and regulatory system and developing the appropriate commercialization strategy. This relationship will advance PEDRA’s ability to establish the PEDRA Technology monitoring system as an essential PAD treatment tool.
iSchemaView, Inc. (the US), a leading global leader in advanced imaging for stroke care and research, launched its new neuroimaging solution for the angiography suite – RAPID ANGIO. The new imaging solution is developed in partnership with Siemens Healthineers to Integrate the RAPID Platform with syngo DynaCT to Deliver a Complete Imaging Solution for the Angio Suite. RAPID ANGIO integrates iSchemaView’s RAPID software with syngo DynaCT Multiphase from Siemens Healthineers.
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