The Magnetic Resonance, Computed Tomography, and Nuclear Medicine Imaging market is projected to grow at a rate of 5.1% in terms of value, from 2020 to reach USD 23.80 Billion by 2030.
Increasing neurological disorders are likely to fuel the market demand in the upcoming years. Neurological disorders are considered to be a significant cause of death and disability across the globe. It has been found that 100 million people are suffering from chronic pain, 70 million people have sleep problems, and 69 million persons have balance and vestibular disorders; in total, these conditions comprise 54% of incidences of the ten leading neurologic diseases. Hearing impairment affects around 20.0% or 48 million people in the U.S. The occurrence of migraines is found to be 28 million. Each year, there are 1.2 million adult-onset brain disorders that are most frequently diagnosed, of which 51.3% and 21.0% are owing to stroke and Alzheimer’s disease, respectively. Approximately 500,000 incidences of multiple sclerosis, brain tumor, and amyotrophic lateral sclerosis are diagnosed every year.
There is an increasing demand for detecting subclinical disease that require the development of imaging procedures that can precisely locate diseased tissue whereby it can be treated with a minimally invasive and image-guided method. The molecular imaging, which is a type of medical imaging that offers detailed pictures of happenings inside the body at the molecular and cellular level, is one of the most lucrative areas in the field of imaging technology. Nuclear medicine imaging finds application in the field of molecular targeting, which, in turn, is likely to propel the market growth in the future.
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Key Coverage of the Report
- Region and country wise statistics of Magnetic Resonance, Computed Tomography and Nuclear Medicine Imaging from the period 2020-2030. While 2016 & 2017 have been utilized as historical data, 2019 is considered the base year. 2020-2030 have been derived as forecasts.
- Estimation of the market size along with historic and forecasted trend analysis.
- Various types of applications have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Share of individual end-users has been estimated.
- Healthcare Regulatory framework of each region.
- Regional up-coming outlook.
- Status of on-going clinical trials and developments.
- Regional prevalence of Magnetic Resonance, Computed Tomography, and Nuclear Medicine Imaging has been mapped.
- Regional Competitors Pricing Strategy
- Demand and Supply GAP Analysis
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Magnetic Resonance, Computed Tomography and Nuclear Medicine Imaging Market
- The highest amount of usage of the MRI system in the youth age group has been observed for the sports injuries. The magnetic resonance imaging are predominantly used for detecting diseases and diagnosing these many patients globally. The growing incidences of these diseases and the extensive use of magnetic resonance imaging in the end-use verticals are the key drivers of this market.
- According to the World Health Organization (WHO), non-communicable diseases (NCDs) are responsible for 63.0% of all deaths, which is equivalent to 36 million out of 57 million global deaths.
- Innovative SPECT cameras having cadmium zinc telluride (CZT) detectors to decrease the system footprint, reduce patient radiation dose, and shorten exam times, is expected to contribute to the market growth in the upcoming years.
- The American Heart Association (AHA) declared the latest cholesterol management guidelines in 2020 that boost the application of computed tomography calcium scoring risk assessment. As per the guidelines, calcium scans may be utilized to assess the risk of coronary events in a patient.
- The growing advancement in nuclear medicine imaging technology has led to the increasing importance of radiopharmaceuticals. As yet, there are a total of 10 FDA-approved PET imaging agents out of which six have been approved since 2012.
- There has been a growing demand for a combination of PET-CT and SPECT-CT scanners from leading players in the imaging market. These hybrids imaging systems allow for CT attenuation on the nuclear images along with adding CT anatomical image overlaps to provide an improved visualization of the coronary anatomy and precisely pinpoint where blockages causing defects are located.
- In June 2020, Bracco Imaging SPA, a leading market player, announced the signing of a definitive agreement for the acquisition of Blue Earth Diagnostics, a molecular imaging company based in the U.K.
- In October 2020, Canon Medical Systems USA Inc., a leading market player, received Food and Drug Administration (FDA) 510(k) approval on its Advanced Intelligent Clear-IQ Engine (AiCE) for the Aquilion Precision computed tomography (CT) system. Further, the approval increases access to Canon’s innovative deep convolutional neural network (DCNN) image reconstruction technology.
Companies considered and profiled in this market study
Canon Medical Systems, GE Healthcare, Koning Corporation, Fujifilm Holdings Corporation, Neusoft Medical Systems Corporation Limited, Siemens Healthineers, Hitachi Healthcare Systems, Neurologica Corporation, Shenzhen Anke High-Tech Co., Bracco Imaging SPA, and Koninklijke Philips NV, among others.
- The valuation for the Magnetic Resonance, Computed Tomography, and Nuclear Medicine Imaging market was USD 16.13 Billion in 2019, and it is expected to reach USD 23.80 Billion by 2030.
- By type, positron emission tomography (PET) systems are expected to observe a faster growth rate of 5.2% in the forecast period. A PET imaging system measures essential body functions, including metabolism. It aids doctors in assessing how well tissues and organs are functioning.
- By application, neurology is projected to grow at the fastest rate of 5.9% in the forecast period. Neurological disorders are a significant cause of death and disability across the globe. In 2015, neurological diseases were the foremost cause of disability adjusted life years (DALYs), encompassing 10.2 of the worldwide DALYs.
- By end-users, diagnostic centers are likely to experience a significant growth rate of 5.6% in the forecast period.
- North America held the largest market share in 2019 and is expected to witness a growth rate of 4.9% in the forecast period. The market dominance of North America is owing to rapid technological advancements, such as the growing incidence of target diseases, development of molecular imaging, acceptance of advanced technologies, and well-established healthcare facilities, among others.
- Europe is likely to grow at a rate of 4.8% in the forecast period.
- High cost of the imaging systems may hamper the growth of the market in the upcoming years.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2030. For the purpose of this study, Reports and Data have segmented the global Magnetic Resonance, Computed Tomography and Nuclear Medicine Imaging market on the basis of type, application, end-users, and region:
Type Outlook (Revenue, USD Million; 2020-2030)
- Open Magnetic Resonance Imaging
- Closed Magnetic Resonance Imaging
- Low-End Slice Computed Tomography
- Mid-End Slice Computed Tomography
- High-End Slice Computed Tomography
- Single-Photon Emission Computed Tomography (SPECT) Systems
- Positron Emission Tomography (PET) Systems
Application Outlook (Revenue, USD Million; 2020-2030)
End-Users Outlook (Revenue, USD Million; 2020-2030)
- Hospitals & Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2020-2030)
- North America
- Asia Pacific
- Latin America
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