The global multimodal imaging market will grow at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2021-2030.
In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Multimodal Imaging Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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.
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.
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.
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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.
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
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
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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