Key Questions Answered in this Report:
- What is the total market size at present and forecast for global molecular imaging market by 2028?
- What are the current key trends witnessed by the global molecular imaging market?
- What are the key market dynamics i.e. drivers, restraints, and opportunities for molecular imaging market?
- How would artificial intelligence-enabled image analytics result in a dynamic shift in the growth of molecular imaging market during the forecast period?
- What are the key strategies incorporated by the leading players of molecular imaging market?
- What is the market share of key competitors for the product categories?
- What are the regulations influencing molecular imaging market, across regions?
- What is the current total market size and the forecast for different product categories available in molecular imaging market by 2028?
- How would imaging agents evolve to be dominating contributors in the global molecular imaging market revenue and why?
- What is the current total market estimation and forecasts of molecular imaging products across different countries by 2028?
Global Molecular Imaging Market Value and Estimation
As per the global molecular imaging market analysis conducted by BIS Research, the market was valued at approximately $6.84 billion in 2018 and is anticipated to reach $11.13 billion by 2028. Presently, the incidence of chronic disorders such as cardiovascular, oncological, and neurological disorders is rising at alarming rates and is creating an increased economic burden on the healthcare providers and the patients.
To combat the growing incidence and to reduce the costs associated with disease management healthcare providers as well as the researchers are promoting and identifying novel methods for preventive care and early detection. Molecular imaging is one such highly advanced method in the field of medical imaging which allows the functional diagnosis and aids in the characterization of the physiological events at the cellular and molecular level.
Expert Quote on Global Molecular Imaging Market
“North America is currently the leading contributor to the molecular imaging market. The market was valued $3.89 billion in 2018. Factors such as rising demand for minimally invasive surgeries, increasing cases of chronic diseases, approval of novel radiotracers, and the growing awareness regarding molecular imaging are driving the growth of the North American molecular imaging market. However, the Asia-Pacific is expected to register the highest CAGR of 6.68% during the forecast period 2019-2028”.
Scope of the Market Intelligence on Global Molecular Imaging Market
The purpose of the study is to gain a holistic view of the molecular imaging market in terms of various factors influencing it such as recent trends and technological advancements of the market. The scope of this report is centered upon conducting a detailed study of the products allied with the molecular imaging market, which include imaging systems, imaging agents, and imaging software.
The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering the market.
The global molecular imaging market is segmented into four different parts: by product, by application, by end user, and by region. The global market value was estimated using these three different approaches and was validated with one another. These segments are further segmented into several sub-segments to ease the market estimation.
With the increasing incidence of chronic disorders, increased digital platform penetration, and the increased utilization of molecular imaging in disciplines such as precision medicine the molecular imaging market is expected to witness a gradual growth. Moreover, the ongoing technological advancements have led to the identification of multimodality molecular imaging technology as an innovative approach for the functional as well as anatomical diagnosis.
The use of multimodality imaging techniques including PET-MRI, PET-CT, and SPECT-CT is becoming increasingly prevalent attributed to which the multimodality imaging technology is expected to dominate the market. Moreover, with the advent of novel imaging agents including the multimodality reporter genes is expected to expand the clinical application of techniques such as optical imaging and targeted molecular ultrasound because of which these segments are expected to witness an impressive CAGR during the forecast period.
The global molecular imaging market is segmented by the geographical regions into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America is the leading contributor to the global molecular imaging market followed by Europe. However, the Asia-Pacific region is expected to register a highest CAGR during the forecast period.
The global molecular imaging market is dominated by the U.S. and the European players. The U.S.-based companies, Cardinal Health and General Electric Company and the European companies Siemens Healthcare GmbH and Koninklijke Philips N.V. GmbH accounted for more than 70% of the market value in 2018.
Key Players in the Market
The key players who have significant contributions to the global molecular imaging equipment market are Advanced Accelerator Applications, Bruker Corporation, Canon Inc., Digirad Corporation, ESAOTE SPA, General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V. GmbH, PerkinElmer Inc., Positron Corporation, Siemens Healthcare GmbH, SurgicEye GmbH, and Thermo Fisher Scientific, among others.