Multimodal Imaging Market by Product (Multimodal Imaging Equipment, Reagents, Software), Technology (PET/CT, PET/MRI, SPECT/CT), Application, End User - Global Forecast 2024-2030

Multimodal Imaging Market by Product (Multimodal Imaging Equipment, Reagents, Software), Technology (PET/CT, PET/MRI, SPECT/CT), Application, End User - Global Forecast 2024-2030

The Multimodal Imaging Market size was estimated at USD 2.83 billion in 2023 and expected to reach USD 3.00 billion in 2024, at a CAGR 6.18% to reach USD 4.30 billion by 2030.

Multimodal imaging encompasses developing, producing, distributing, and utilizing advanced imaging technologies that combine two or more imaging modalities within a single device or system.The rising focus on early diagnosis of chronic diseases, technological advancements, an aging global population with age-related ailments increases the use of multimodal imaging. However, multimodal imaging systems' high acquisition and maintenance costs may hinder widespread adoption, especially in emerging economies with limited healthcare budgets. Nevertheless, AI-powered algorithms are expected to help streamline data analysis from multiple modalities simultaneously improving diagnostic accuracy while reducing processing time.

Regional Insights

In the United States and Canada, there has been a rising demand for advanced diagnostic tools due to an aging population and surge in prevalence of chronic diseases. Investments in research and development have led to numerous patents being filed, showcasing innovation in this sector. European Union countries have also seen growth in the multimodal imaging market with increasing collaboration between academia, clinical institutions, and industry players driving innovation. In the Middle East and Africa region, improving healthcare infrastructure has created a significant growth opportunities multimodal imaging market. Governments are investing in healthcare to address the rising incidences of non-communicable diseases such as cancer and cardiovascular disorders where advanced imaging plays a crucial role. China, Japan, India, and other Asia Pacific countries are experiencing robust expansion of their multimodal imaging markets due to factors such as rapid urbanization, expanding healthcare facilities, and increasing disposable income.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Multimodal Imaging Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing application of multimodal imaging
Technical advancements in multimodal diagnostic modalities
Surging progress for the advancement of imaging techniques

Market Restraints

Relatively high cost of imaging systems
Dearth of trained professional and lack of adequate healthcare infrastructure

Market Opportunities

Emerging research and development in radiotracers
Introduction of next generation multimodal imaging

Market Challenges

Strict regulatory protocols in clinical imaging technologies

Market Segmentation Analysis

Product: Increasing demand for multimodal imaging equipments for disease diagnostics
Application: Expanding use of multimodal imaging for oncology
Technology: Significant applications of PET/CT technology owing to its high sensitivity and specificity
End-User: Proliferating demand for multimodal imaging in diagnostic centers

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Multimodal Imaging Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Multimodal Imaging Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Renovaro Biosciences to Acquire Multiomic, Multimodal AI Bioinformatics Startup Gedi Cube

Gedi Cube, an Amsterdam-based AI and machine learning firm, has announced its acquisition by Renovaro Biosciences. The acquisition by Renovaro positions Gedi Cube for potential entry into the US market and the opportunity to conduct its first clinical trial within a year.

nference and Vanderbilt University Medical Center Sign Agreement to Advance Real-World Evidence Generation in Complex Disease Populations

nference, a science-first software company in healthcare, and Vanderbilt University Medical Center (VUMC), an academic medical center, have entered into a strategic agreement to advance research. This collaboration combines VUMC's multi-modal data with nference's federated AI platform, allowing for the expansion of clinical insights in key research areas. By leveraging multimodal data, including imaging and digital pathology, this agreement will provide researchers with diverse datasets that are crucial for understanding patient needs.

Funding for Correlated Multimodal Imaging projects from COMULISglobe

CZI-funded COMULISglobe project that aims to establish a collaborative multi-modal imaging network between biological and clinical research. The project offers two grant schemes: Global Showcases and Lab Exchanges/Mobility Grants. These grants are designed to support multi-modal imaging initiatives across different countries.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Multimodal Imaging Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Multimodal Imaging Market, highlighting leading vendors and their innovative profiles. These include Bruker Corporation, Canon Inc., GE Healthcare, Infraredx Inc., International Business Machines Corporation, Koninklijke Philips N.V., Mediso Ltd., MR Solutions Ltd., Neusoft Medical Systems Co., Ltd., Northridge Tri-Modality Imaging, Inc., PerkinElmer, Inc., Shanghai United Imaging Healthcare Co., Ltd., Siemens AG, Spectrum Dynamics Medical, Inc., and Topcon Corporation.

Market Segmentation & Coverage

This research report categorizes the Multimodal Imaging Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
Multimodal Imaging Equipment
Reagents
Software
Technology
PET/CT
PET/MRI
SPECT/CT
Application
Cardiology
Clinical Applications
Neurology
Oncology
End User
Academic & Research Institutes
Diagnostic Centers
Hospital
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year