Multimodal Imaging Market by Technology (PET-CT, SPECT-CT, PET-MR, OCT/FMT), Application (Oncology, Cardiology, Brain, Ophthalmology), End User (Hospitals, Diagnostic Centers, Academia, Research) & Region - Global Forecast to 2028
The global multimodal market is projected to reach USD 5.5 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 5.7% from 2023 to 2028. Factors such as the high incidence/prevalence of target diseases, the growing number of diagnostic imaging centers/procedures, increasing awareness about the benefits of early diagnosis of diseases, and the rapid adoption of technologically advanced imaging systems, features and modalities are responsible for the increasing growth of this market.
"The PET-CT segment of technology segment l held the largest share of the market in 2022"
Based on technology, the multimodal market is segmented into PET-CT, PET/MR, SPECT-CT, OCT/FMT and other multimodal imaging . The PET-CT segment held a major share of the market. Conducting PET and CT scans in a single session reduces radiation exposure and scan time, while its clinical versatility spans oncology, cardiology, neurology, and infectious diseases. Despite initial costs, the cost-effectiveness of PET-CT emerges from improved diagnostics, reduced need for additional tests, and research advancements, making it a valuable tool that significantly benefits patient outcomes and medical research are driving the growth of this product segment.
"The oncology segment is projected to register the highest CAGR during the forecast period"
Based on application, the multimodal market is segmented into brain & neurology, cardiology, oncology, ophthalmology, research and other applications. The oncology segment accounted for the largest market share in 2022. The large share of this segment is attributed to the system's versatility, image quality, ehanced, easy to use features, and due to the increased usage of it in acute care settings and emergency care in hospitals and healthcare institutions.
"The diagnostic imaging centers segment for end user segment is projected to register a significant CAGR during the forecast period"
On the basis of end user, the multimodal market is segmented into hospitals, diagnostic imaging cneters, academic and research institutes. The diagnostic imaging centers segment accounted for the largest share of the multimodal market in 2022. By integrating multiple imaging modalities, such as PET-CT, MRI-PET, or SPECT-CT, diagnostic imaging centers can provide more accurate and reliable diagnoses, leading to better treatment planning and improved patient outcomes. Moreover, the versatility of multimodal imaging enables these centers to cater to a wide range of medical specialties, effectively serving patients with diverse healthcare needs.
"The market in the North America region is expected to witness the highest growth during the forecast period."
The multimodal market in the North America region is expected to register a CAGR during the forecast period, primarily due to the high healthcare spending in the region, rising prevalence of target diseases, increasing research activities, growing number of cosmetic surgeries, and technological advancements in imaging systems.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1-48%, Tier 2-36%, and Tier 3- 16%
By Designation: Director-level-14%, C-level-10%, and Others-76%
By Region: North America-40%, Europe-32%, Asia Pacific-20%, Latin America-5%, and the Middle East & Africa-3%
The prominent players in the multimodal market are GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Neusoft (China), Topcon Corporation (Japan), and Bruker (US) among others.
Research Coverage
This report studies the multimodal market based on technology, display, portability, component, application, enduser, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall multimodal market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on the following pointers:
Analysis of key drivers (rising target patient population, growing adoption of multimodal imaging devices, technological advancement, and increasing investment, funds, and grants by public-private organizations), restraints (high capital and operational cost, unfavorable regulatory guidelines), opportunities (improving healthcare infrastructure across emerging countries, PET utilization for breast imaging, promising product pipeline), and challenges (availability of alternate imaging technologies) influencing the growth of the multimodal market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the multimodal market
Market Development: Comprehensive information about lucrative markets-the report analyses the multimodal market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the multimodal market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Neusoft (China), Topcon Corporation (Japan), and Bruker (US) among others.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 GEOGRAPHICAL SEGMENTATION
1.4 YEARS CONSIDERED
1.5 CURRENCY
1.6 RESEARCH LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 MULTIMODAL IMAGING MARKET: RESEARCH DESIGN
2.1.1 SECONDARY RESEARCH
2.1.2 PRIMARY RESEARCH
2.1.2.1 Primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primaries
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY- AND DEMAND-SIDE PARTICIPANTS
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET SIZE ESTIMATION
FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach 1: Company revenue estimation approach
TABLE 79 REST OF LATIN AMERICA: MULTIMODAL IMAGING MARKET, BY TECHNOLOGY, 2021-2028 (USD MILLION)
9.6 MIDDLE EAST & AFRICA
9.6.1 GROWING MEDICAL TOURISM TO DRIVE MARKET
9.6.2 RECESSION IMPACT
TABLE 80 MIDDLE EAST & AFRICA: MULTIMODAL IMAGING MARKET, BY TECHNOLOGY, 2021-2028 (USD MILLION)
TABLE 81 MIDDLE EAST & AFRICA: MULTIMODAL IMAGING MARKET, BY APPLICATION, 2021-2028 (USD MILLION)
TABLE 82 MIDDLE EAST & AFRICA: MULTIMODAL IMAGING MARKET, BY END USER, 2021-2028 (USD MILLION)
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 STRATEGIES ADOPTED BY KEY PLAYERS
10.2.1 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN MULTIMODAL IMAGING MARKET
10.3 REVENUE SHARE ANALYSIS
FIGURE 27 REVENUE SHARE ANALYSIS OF TOP PLAYERS IN MULTIMODAL IMAGING MARKET, 2020-2022
10.4 MARKET SHARE ANALYSIS
FIGURE 28 MARKET SHARE ANALYSIS OF TOP PLAYERS IN MULTIMODAL IMAGING MARKET, 2022
TABLE 83 MULTIMODAL IMAGING MARKET: DEGREE OF COMPETITION
10.5 COMPANY EVALUATION MATRIX FOR KEY PLAYERS (2022)
10.5.1 STARS
10.5.2 EMERGING LEADERS
10.5.3 PERVASIVE PLAYERS
10.5.4 PARTICIPANTS
FIGURE 29 MULTIMODAL IMAGING MARKET: COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2022
10.6 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES (2022)
10.6.1 PROGRESSIVE COMPANIES
10.6.2 STARTING BLOCKS
10.6.3 RESPONSIVE COMPANIES
10.6.4 DYNAMIC COMPANIES
FIGURE 30 MULTIMODAL IMAGING MARKET: COMPANY EVALUATION MATRIX FOR STARTUPS/SMES, 2022
10.7 COMPETITIVE BENCHMARKING
TABLE 84 PRODUCT AND REGIONAL FOOTPRINT ANALYSIS OF COMPANIES
TABLE 85 PRODUCT FOOTPRINT ANALYSIS OF COMPANIES
TABLE 86 REGIONAL FOOTPRINT ANALYSIS OF COMPANIES
10.8 COMPETITIVE SCENARIO AND TRENDS
TABLE 87 PRODUCT LAUNCHES, JANUARY 2020-JULY 2023
TABLE 88 DEALS, JANUARY 2020-JULY 2023
TABLE 89 OTHER DEVELOPMENTS, JANUARY 2020-JULY 2023
11 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) **
11.1 KEY PLAYERS
11.1.1 GE HEALTHCARE
TABLE 90 GE HEALTHCARE: COMPANY OVERVIEW
FIGURE 31 GE HEALTHCARE: COMPANY SNAPSHOT (2022)
11.1.2 KONINKLIJKE PHILIPS N.V.
TABLE 91 KONINKLIJKE PHILIPS N.V.: COMPANY OVERVIEW
FIGURE 32 KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT (2022)
11.1.3 CANON MEDICAL SYSTEMS CORPORATION
TABLE 92 CANON MEDICAL SYSTEMS CORPORATION: COMPANY OVERVIEW
FIGURE 33 CANON MEDICAL SYSTEMS CORPORATION: COMPANY SNAPSHOT (2022)
11.1.4 SIEMENS HEALTHINEERS
TABLE 93 SIEMENS HEALTHINEERS: COMPANY OVERVIEW
FIGURE 34 SIEMENS HEALTHINEERS: COMPANY SNAPSHOT (2022)
11.1.5 ZEISS GROUP
TABLE 94 ZEISS GROUP: COMPANY OVERVIEW
FIGURE 35 CARL ZEISS MEDITEC GROUP: COMPANY SNAPSHOT (2022)
11.1.6 BRUKER
TABLE 95 BRUKER: COMPANY OVERVIEW
FIGURE 36 BRUKER: COMPANY SNAPSHOT (2022)
11.1.7 MEDISO LTD.
TABLE 96 MEDISO LTD.: COMPANY OVERVIEW
11.1.8 NEUSOFT CORPORATION.
TABLE 97 NEUSOFT CORPORATION: COMPANY OVERVIEW
11.1.9 INFRAREDX, INC. (PART OF NIPRO CORPORATION)
TABLE 98 INFRAREDX, INC.: COMPANY OVERVIEW
FIGURE 38 NIPRO CORPORATION: COMPANY SNAPSHOT (2022)
11.1.10 TOPCON CORPORATION
TABLE 99 TOPCON CORPORATION: COMPANY OVERVIEW
FIGURE 39 TOPCON CORPORATION: COMPANY SNAPSHOT (2022)
11.1.11 SHANGHAI UNITED IMAGING HEALTHCARE CO., LTD.
TABLE 100 SHANGHAI UNITED IMAGING HEALTHCARE CO., LTD.: COMPANY OVERVIEW
11.1.12 HEIDELBERG ENGINEERING
TABLE 101 HEIDELBERG ENGINEERING: COMPANY OVERVIEW
11.1.13 SPECTRUM DYNAMICS MEDICAL
TABLE 102 SPECTRUM DYNAMICS MEDICAL: COMPANY OVERVIEW
11.1.14 MINFOUND MEDICAL SYSTEMS CO., LTD.
TABLE 103 MINFOUND MEDICAL SYSTEMS CO., LTD.: COMPANY OVERVIEW
11.1.15 KINDSWAY BIOTECH
TABLE 104 KINDSWAY BIOTECH: COMPANY OVERVIEW
11.2 OTHER COMPANIES
11.2.1 SOFIE BIOSCIENCES, INC.
11.2.2 REFLEXION MEDICAL, INC.
11.2.3 CUBRESA INC.
11.2.4 FUJIFILM CORPORATION
11.2.5 POSITRON
11.2.6 MR SOLUTIONS
11.2.7 ALCON INC.
11.2.8 ESSILOR INSTRUMENTS USA
11.2.9 NIDEK CO., LTD.
11.2.10 ZIEMER OPHTHALMIC SYSTEMS AG
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.