Report Highlights
Global Brain Imaging Modalities Market to Reach $20,209.2 Million by 2031
Market Report Coverage - Brain Imaging Modalities
Market Segmentation
- Product - CT Devices, MRI Devices, PET Devices, PET-CT Devices and PET-MRI Devices
- Patient Type - Adults and Pediatrics and Infants
- End User - Hospitals and Clinics, Diagnostic Imaging Centers, and Ambulatory Surgical Centers
Regional Segmentation
- North America - U.S. and Canada
- Europe - Germany, U.K., France, Italy, Spain, and Rest-of-Europe
- Asia-Pacific - Japan, China, South Korea, India, Australia and New Zealand, and Rest-of-Asia-Pacific
- Rest-of-the-World - Latin America, and Middle East and Africa
Market Growth Drivers
- Rising Prevalence of Neurological Disorders and Traumatic Brain Injuries (TBI)
- Technological Advancements in the Brain Imaging Modalities and Systems
- Growing Popularity of Molecular Imaging in Brain Imaging
Market Challenges
- Hospital Budget Cuts and High Upfront Cost
- Declining Helium Availability
Market Opportunities
- Integration of Imaging Systems and Software with Novel Biomarkers
Key Companies Profiled
Aspect Imaging, Canon, Inc., Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Hyperfine Inc., Koninklijke Philips N.V., Mediso Medical Imaging Systems, MinFound Medical Systems Co., Ltd., Samsung Electronics Co., Ltd., Shenzhen Anke High-Tech Co.,Ltd., Shimadzu Corporation, Siemens Healthineers AG, United Imaging Healthcare Co., Ltd., VUNO Co., Ltd.
How This Report Can Add Value
Assuming that the reader is a manufacturer of brain imaging modalities, the report will assist them in the following ways:
- Understand their position compared to other key players in the market
- Stay updated with novel technology integration, features, and the latest developments in the market
- Understand the impact of COVID-19 on brain imaging and the entry barriers for new companies
- Gain insights into end-user perception concerning the brain imaging modalities market
- Identify some key players in the market and understand their valuable contribution
Key Questions Answered in the Report
- How has COVID-19 impacted the growth of the global brain imaging modalities market?
- What are the key regulations governing the brain imaging modalities market in key regions?
- What technological developments are projected to have the maximum influence on the global brain imaging modalities market?
- Who are the leading players holding significant dominance in the global brain imaging modalities market?
- What are some of the growth opportunities which market players can capitalize on?
- What are the drivers and restraints for the global brain imaging modalities market?
- Which region has the highest growth rate in the brain imaging modalities market?
- Which are the fastest growing countries in terms of the global brain imaging modalities market?
- What are the key strategies being adopted by market players in the global brain imaging modalities market?
- Which are the emerging companies in the global brain imaging modalities market?
Global Brain Imaging Modalities Market Industry Overview
The global brain imaging modalities market is projected to witness significant growth during the forecast period 2022-2031. The high prevalence and growing incidences of brain diseases and neurogenerative disorders and the technological advancements in brain imaging modalities and systems are the key propellers for the growth of the market. Five key modalities of brain imaging modalities include computed tomography (CT) devices, magnetic resonance imaging (MRI) devices, positron emission tomography (PET) devices, PET-CT devices, and PET MRI devices. The field of cognitive neuroscience has emerged and developed rapidly over the last 20 years. To address the neural underpinnings of human cognition, this new field combines two traditionally separate disciplines, cognitive psychology and neurology.
The market for brain imaging modalities devices is rapidly growing, with an increasing number of modalities used in the imaging of various brain diseases and neurogenerative disorders (NDs). The high prevalence and growing incidences of neurological disorders (NDs) are one of the major factors augmenting the growth of the global brain imaging modalities market. Neurological diseases and mental disorders have emerged as serious public health concerns and substantial challenges to healthcare systems around the world. Genetic disorders, congenital anomalies or disorders, infections, lifestyle, or environmental health problems such as malnutrition, brain injury, spinal cord injury, or nerve injury are some of the causes of neurological problems.
The global brain imaging modalities market report highlights that the market was valued at $12,334.2 million in 2021 and is expected to reach $20,209.2 million by the end of 2031. The market is expected to grow at a CAGR of 5.06% during the forecast period 2022-2031.
Global Brain Imaging Modalities Market Drivers
Personalized and tailored treatment approaches based on monitoring and imaging findings and respecting pre-injury comorbidities and their therapies are warranted due to traumatic brain injury is a syndrome encompassing a variety of different affections to the brain, and since age-related comorbidities and treatments may also have a significant impact. More importantly, as the prevalence and incidence of neurological illnesses continue to rise, so will technological adoption. As a result, the growth of disease diagnosis and, as a result, the global market for brain imaging modalities will accelerate.
Governments invest a significant amount of money in healthcare insurance so that the overall healthcare costs can be reduced, and the quality of life and affordability of the treatment can be enhanced.
Global Brain Imaging Modalities Market Restraints
The factors restraining the growth of the global brain imaging devices market include the risks associated with radiation exposure and delay in regulatory approvals. Delay in regulatory approval for the products due to the stringent government regulations concerning the use of AI-enabled software in medical imaging hinders the market's growth. Moreover, another factor restraining the growth of the global brain imaging devices market is the high cost associated with medical imaging.
Global Brain Imaging Modalities Market Opportunities
High growth opportunities in emerging economies and the emergence of local companies in Asia-Pacific and the Middle East and Africa hold immense potential for the global brain imaging modalities market growth. In an era of machine learning and artificial intelligence, extracting quantitative biomarkers from medical images to aid illness detection, characterization, monitoring, and therapy response assessment is becoming increasingly desirable.
Impact of COVID-19 on the Global Brain Imaging Modalities Market
The COVID-19 pandemic had a debilitating impact on the global healthcare ecosystem. Hospitals and clinics faced several challenges such as lack of resources, high patient influx, and risk of infection among care providers. The market is projected to witness considerable growth during the forecast period 2021-2030. The increasing innovations and product designs in the global market and the growing use in emerging economies are the driving factors for the growth of the market.
Market Segmentation
Global Brain Imaging Modalities Market (by Product Type)
The global brain imaging modalities market, based on product type, has been segmented into CT devices, MRI devices, PET devices, PET-CT devices, and PET-MRI devices.
Global Brain Imaging Modalities Market (by Patient Type)
The global brain imaging modalities market, based on patient type, has been segmented into adults, and pediatrics and infants.
Global Brain Imaging Modalities Market (by End User)
The global brain imaging modalities market, based on end user, has been segmented into hospitals and clinics, diagnostic imaging centers, and ambulatory surgery centers surgical centers.
Hospitals and clinics are the major end users for the global brain imaging modalities market. The high volume of the end user makes them the primary diagnosis site for brain diseases and neurodegenerative disorders (NDs) in emerging economies. Furthermore, the adoption of brain imaging modalities in ASCs has been increased due to several factors such as personalized care to the patients and reduced recovery time.
Global Brain Imaging Modalities Market (by Region)
The different regions covered under the global brain imaging modalities market include North America, Europe, Asia-Pacific and Rest-of-the-World.
North America is expected to be the most lucrative region for the global brain imaging modalities market due to advanced healthcare infrastructure and a high focus on research and development activities. The Asia-Pacific brain imaging modalities market is one of the lucrative markets with immense potential for expansion by key players of the global brain imaging modalities market. The Asia-Pacific brain imaging modalities market is expected to grow at the fastest rate during the forecast period. This can be attributed to the massive geriatric population base, which is driving the increase in the volume of brain imaging modalities.
Key Market Players and Competition Synopsis
Some key players operating in the market include Aspect Imaging, Canon, Inc., Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Hyperfine Inc., Koninklijke Philips N.V., Mediso Medical Imaging Systems, MinFound Medical Systems Co., Ltd., Samsung Electronics Co., Ltd., Shenzhen Anke High-Tech Co.,Ltd., Shimadzu Corporation, Siemens Healthineers AG, United Imaging Healthcare Co., Ltd., and VUNO Co., Ltd.
Some strategies covered in this segment are funding activities, mergers and acquisitions (M&As), partnerships, alliances, business expansion, regulatory and legal activities, and new offerings.
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