Hybrid Imaging Market Forecasts to 2030 – Global Analysis By Type (Positron Emission Tomography & Computed Tomography (PET-CT) Scan, Single-Photon Emission Computed Tomography (SPECT) Scan, Optical Coherence Tomography (OCT), Fundus Imaging System and Oth

Hybrid Imaging Market Forecasts to 2030 – Global Analysis By Type (Positron Emission Tomography & Computed Tomography (PET-CT) Scan, Single-Photon Emission Computed Tomography (SPECT) Scan, Optical Coherence Tomography (OCT), Fundus Imaging System and Other Types), Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Hybrid Imaging Market is accounted for $8.63 billion in 2023 and is expected to reach $13.33 billion by 2030 growing at a CAGR of 6.4% during the forecast period. Hybrid imaging refers to a medical imaging technique that combines two or more different imaging modalities to provide a more comprehensive view of the body's internal structures and functions. This integration allows for a more accurate diagnosis, staging, and monitoring of various medical conditions. Having both scans in one session can save time for both patients and healthcare providers. It eliminates the need for separate appointments and reduces waiting times.

According to an international survey on hybrid imaging, Hybrid PET/CT and PET/MRI are increased by 72% and SPECT-CT has risen by 94% by 2018.

Market Dynamics

Driver

Rising prevalence of chronic diseases

Chronic diseases often develop over time and may not have visible symptoms at first. By merging several imaging modalities, hybrid imaging offers a thorough understanding of the anatomy and physiology of the body. Hybrid imaging also offers the thorough information required to pick the best treatments and assess their efficacy. In addition, periodic imaging tests are needed for the monitoring of some chronic conditions, such as cancer. Thereby the market for hybrid imaging is expanding rapidly due to the increased frequency of chronic disorders.

Restraint

Limited availability of trained professionals

A shortage of trained professionals, such as radiologic technologists, nuclear medicine technologists, and radiologists, can hinder the operation and utilization of hybrid imaging systems. This may compromise the quality of imaging studies and the accuracy of diagnoses, potentially leading to errors or missed diagnoses. Longer wait times for imaging studies can delay diagnoses and treatment plans, potentially leading to poorer patient outcomes. This represents an underutilization of valuable resources which further hinders the market demand.

Opportunity

Growing advancements in imaging technology

Advancements in imaging technology have led to higher resolution, clearer, and more detailed images. Hybrid system’s improved imaging quality helps with disease staging and early illness identification. Faster scan times and more patient comfort are the results of advancements in imaging technology. Modern imaging techniques frequently have features that reduce radiation exposure without sacrificing picture quality. Along with this, rising R&D efforts and improved diagnostic precision are fueling market expansion.

Threat

Technological obsolescence

Outdated technology can make a company less competitive in the market. Obsolete technology may not provide the level of detail needed for accurate diagnoses, potentially leading to missed or incorrect diagnoses. Changes in industry standards and regulatory requirements may render outdated systems non-compliant. This can lead to legal and regulatory issues for healthcare facilities. In addition, factors such as compatibility issues, loss of competitive advantage and negative perception are hampering the market expansion.

Covid-19 Impact

The hybrid imaging market has experienced lucrative expansion as a result of the COVID epidemic. Hospitals and healthcare facilities faced overwhelming demands related to COVID-19 patient care. The pandemic highlighted the importance of accurate and timely diagnostics. The shift towards telemedicine during the pandemic led to increased interest in hybrid imaging. Governments in various countries allocated significant funds to bolster healthcare infrastructure. Manufacturers and researchers focused on developing more advanced and efficient hybrid imaging solutions to meet evolving healthcare needs.

The cardiology segment is expected to be the largest during the forecast period

The cardiology segment is estimated to have a lucrative growth, due to rising prevalence of coronary atherosclerosis and adoption of multimodal imaging for diagnosis. Hybrid imaging provides more accurate and detailed information about the heart's structure & function. This can lead to more precise diagnoses and treatment plans. It allows for the simultaneous assessment of both anatomical and functional aspects of the heart. For patients, the convenience of undergoing a single examination rather than multiple separate tests can lead to a more positive experience. Also, its cost-efficiency and better evaluation of viability & perfusion drives the segment demand.

The diagnostic imaging centers segment is expected to have the highest CAGR during the forecast period

The diagnostic imaging centers segment is anticipated to witness the highest CAGR growth during the forecast period, due to the growing demand for diagnosis of various diseases in the field of oncology, cardiology and neurology. Many medical practitioners as well as professionals are developing their own diagnostic centers to meet the increasing demand for diagnosis, thereby driving the adoption of hybrid imaging devices in these centers.

Region with largest share

Asia Pacific is projected to hold the largest market share during the forecast period owing to its growing healthcare infrastructure and investments. Asia Pacific is a hub for medical tourism, with countries like India, Thailand, Singapore, and Malaysia attracting patients from around the world. China, India, and Southeast Asian nations are rapidly expanding their healthcare infrastructure due to rising burden of chronic diseases. Several governments in the region are prompting initiatives like subsidies, grants, and funding for the procurement of advanced medical equipment which are likely to accelerate the market growth.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to its strong emphasis on research and innovation. Europe is home to several prominent manufacturers of medical imaging equipment. Europe has a well-established healthcare infrastructure with a high demand for advanced diagnostic imaging technologies. Governments and private healthcare providers in Europe have been investing in upgrading and expanding their medical imaging facilities. Europe has been at the forefront of personalized medicine initiatives which makes hybrid imaging market stronger.

Key players in the market

Some of the key players profiled in the Hybrid Imaging Market include Philips Healthcare, Hitachi Limited, Amber Diagnostics Inc., Siemens Healthcare, GE Healthcare, Bruker, FUJIFILM Visualsonics Inc, PerkinElmer Inc., Canon India Pvt Limited, Atlantis Worldwide, Mediso Limited, MILabs B.V., TriFoil Imaging, Cubresa Inc and MR Solutions.

Key Developments

In October 2023, Hitachi, Ltd. and Hitachi Asia Ltd. announced that it has delivered to National Cancer Centre Singapore (""NCCS"") a proton therapy system, with which NCCS has completed the first patient treatment. This marks Hitachi's first proton therapy system to start treatment in Southeast Asia.

In August 2023, Wipro GE Healthcare announced the launch of Vscan Air to enhance point-of-care imaging capabilities in Nepal, enabling accessibility to remote locations. The wireless, handheld ultrasound system is designed to enable whole-body scanning at the point-of-care, empowering healthcare professionals to make faster decisions with confidence, at a low cost across a variety of care settings.

In May 2023, Philips, a global leader in health technology, announced the launch of the Philips CT 3500, a new high-throughput CT system targeting the needs of routine radiology and high-volume screening programs. Powered by AI, the Philips CT 3500 includes a range of image-reconstruction and workflow-enhancing features that help to deliver the consistency, speed, and first-time-right image quality needed for confident diagnoses by clinicians and increased return on investment – even in the most demanding, high-volume care settings.

Types Covered
• Positron Emission Tomography & Computed Tomography (PET-CT) Scan
• Single-Photon Emission Computed Tomography (SPECT) Scan
• Optical Coherence Tomography (OCT)
• Fundus Imaging System
• Other Types

Technologies Covered
• X-ray Imaging Systems
• Computed Tomography (CT) Scanners
• Ultrasound Systems
• Nuclear Imaging Systems
• Magnetic Resonance Imaging (MRI)

Applications Covered
• Ophthalmology
• Cardiology
• Oncology
• Brain & Neurology
• Radiology
• Other Applications

End Users Covered
• Diagnostic Imaging Centers
• Hospitals
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- 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
- Supply chain trends mapping the latest technological advancements