Report Ocean has recently published a revised figures report on the worldwide Multimodal Imaging market. Growth prospects and difficulties are noted in the paper. A tool for evaluating the potential for new goods and services is the constraints and opportunity analysis. This aids businesses in locating and forecasting market opportunities.
The global multimodal imaging market will grow at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2021-2030.
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Multimodal imaging or multiplexed imaging takes place when more than one imaging method is used in conjunction. Multimodal imaging methods are utilized to detect cancer in a more precise manner by combining various efficient techniques. These techniques include computed tomography (CT) scan, ultrasound, medical radiation, magnetic resonance imaging (MRI), angiography, etc.
It offers details on crucial market processes, such as leading participants. Changes in consumer behavioral patterns have temporarily hindered the market’s growth because the size of the Multimodal Imaging market is still insufficient to predict precise dollar estimates. As a result, it will be essential to conduct a more thorough analysis of the market by considering other factors.
The study also contains a compilation of qualitative and quantitative evaluations made by subject-matter experts in their fields as well as representatives from various industries found all along the supply chain.
Over the forecast period, the size of the worldwide Multimodal Imaging market will increase at a compound annual growth rate (2023-2032). The paper discusses further findings that researchers made based on the comprehensive data and also offers information on the state of the market. The paper discusses kinds and applications based on various nations and important locations. The market’s most active companies are described in detail with regard to attributes like corporate portfolio, business strategy, financial overview, recent developments, and industry share.
The imaging technologies are considered most efficient for diagnosing chronic diseases. The technologies are also helpful in the overall treatment of cardiovascular diseases, cancer, chronic respiratory diseases, diabetes, etc. As it is essential to diagnose these diseases at a primary stage, the demand for multimodal imaging techniques has been growing rapidly over the past few years. According to the estimations, approx 3.6 billion radiology tests are performed in a year around the globe.
The technological advancements in the global multimodal imaging market would be another reason for the boost in the market growth.
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The key market players are continuously introducing advancements like the integration of artificial intelligence and cloud computing in the devices to boost its demand in the market. The recent innovation of photoacoustic imaging with ultrasound imaging provides accurate functional and cellular information of the tissues. Apart from that, company partnerships for technological advancements would create promising growth opportunities for the market. GE Healthcare recently partnered with Spectronic Medical to launch AI-based software for use in MR-based radiotherapy.
However, the expensive cost of multimodal imaging modalities is forecast to slow down the growth of the global multimodal imaging market, mainly in developing and under-developed countries.
COVID-19 Impact Analysis
The growth of the global multimodal imaging market was severely obstructed due to the sudden onset of the COVID-19 pandemic. Patients undergoing chronic treatments avoided visiting hospitals as they are more prone to deadly infections. The diagnosis activities and treatments were halted for a few months, which ultimately declined the demand for multimodal imaging technologies. However, the market is expected to gain traction after the lockdown period.
Global Multimodal Imaging Market – Regional Analysis
Geographically, North America witnesses the high pervasiveness of cancer, stroke, bone cancer, and fractures, which makes the region, highest contributor to the growth of the global multimodal imaging market. According to the American Cancer Society, around 1.9 million new cancer cases were registered in the United States in 2021.
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Key Market Players
- GE Healthcare (United States)
- Heidelberg Engineering (Germany)
- Bruker Corporation (United States)
- Infraredx, Inc. (North America)
- Siemens Healthineers (Germany)
- Canon, Inc. (Japan)
- MILabs B.V. (Europe)
- Mediso Medical Imaging Systems Kft (Europe)
- Koninklijke Philips N.V. (Europe)
- Topcon Corporation (Japan)
- Spectrum Dynamics Medical (Asia)
- Northridge Tri-Modality Imaging, Inc. (North America)
- United Imaging Healthcare Co., Ltd. (China)
- Mediso Ltd. (Europe)
- Carl Zeiss AG (Germany)
- Neusoft Medical Systems Co. Ltd (China)
- MR Solutions Ltd. (United Kingdom)
- Optovue, Inc. (United States)
- PerkinElmer, Inc. (United States)
- Other prominent players.
We continuously monitor the direct effects of COVID-19 (Update #Omicron mutations analysis) and the Russia-Ukraine War on the market, in addition to the indirect influence of related industries. The report will contain the observations.
The Russia-Ukraine War, which broke out in February 2022, had an effect on industries all across the world. Strict travel restrictions over Ukrainian airspace have been widely announced. The Russia-Ukraine War in 2022 has hurt the market. The war between Russia and Ukraine increases defense spending and strengthens the armed forces of NATO members. The majority of European countries have increased their defense spending as a result of Russia’s invasion. German defense spending will rise above 2% of GDP thanks to an allocation of USD 109 billion, which is more than the entire cost of the armed forces in 2021.
Market Segmentation
By Technology
- PET/CT Systems
- SPECT/CT Systems
- PET/MR Systems
- OCT/Fundus Imaging Systems
- Other Multimodal Imaging Systems
By Application
- Cardiology
- Brain & Neurology
- Oncology
- Ophthalmology
- Other Applications
By End-User
- Hospitals
- Diagnostic Imaging Centers
- Other End Users
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By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Frequently Asked Questions (FAQs)
- What opportunities exist for the Multimodal Imaging market to expand?
- How quickly is the market expanding?
- Which local market will lead the way in the upcoming years?
- What potential for growth in the Multimodal Imaging market exists in the foreseeable future?
- What potential problems can the Multimodal Imaging market encounter in the future?
- Which businesses dominate the market?
- What are the primary elements causing rapid growth?
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