United States multimodal imaging market is projected to witness a CAGR of 5.50% during the forecast period 2024-2031, growing from USD 1.65 billion in 2023 to USD 2.53 billion in 2031. Due to several important factors, such as the growing adoption of advanced imaging solutions, favorable reimbursement scenarios, and new product approvals, the multimodal imaging industry in the United States is growing at a faster pace.
The combination of diagnostic methods such as PET/CT, PET/MRI, and SPECT/CT, multimodal imaging provides comprehensive anatomical, functional, and molecular insights that have the potential to improve treatment planning and diagnostic accuracy in the fields like cardiology, neurology, and oncology. Improvements in technology, such as faster data processing, higher resolution sensors, and AI-driven imagery, are greatly increasing the effectiveness of these systems. Growing applications in clinical research and personalized medicine also fuel market expansion. The adoption of advanced imaging technologies is further aided by significant investments in healthcare research and infrastructure as well as by supportive legislative frameworks. The rising incidence of malignancies and chronic illnesses further fuels the need for accurate diagnostic instruments.
Furthermore, these diagnostic tools are now more widely available, even in isolated or underserved areas, due to the development of portable systems that are much more compact. For instance, in May 2023, following its FDA approval for use in patients of 12 years age and older, Cincinnati Children’s Hospital Medical Centre became the first hospital in the United States to diagnose a patient using xenon MRI, or XENOVIEW, a novel xenon (Xe) gas blend that allows a safe and detailed view of lung ventilation.
Market Growth Due to Technological Advancements
Technological developments are driving the multimodal imaging industry in the United States. Artificial intelligence (AI) and machine learning (ML) algorithms are examples of modern advances that improve picture quality, processing, and interpretation, leading to more precise and effective imaging systems. Hybrid PET/MRI and PET/CT are examples of advanced imaging techniques that combine multiple modalities to deliver rich anatomical and functional information in a single session, providing maximum possible insights. More accurate diagnoses and better patient results are also a result of advancements in imaging hardware, such as faster data processing speeds and higher-resolution sensors. The amalgamation of cloud computing with telemedicine additionally expedites distant consultations and data exchange, hence expanding the reach and practicality of multimodal imaging.
Furthermore, growing investments in research and development drive continuous innovation, creating new applications and expanding market potential. Collectively, these technological advancements enhance diagnostic capabilities and streamline workflows, fueling the expansion of the multimodal imaging market in the United States. For instance, in November 2022, Spectrum Dynamics Medical Group Limited unveiled VERITON-CT 400 Series of SPECT/CT platform under their digital nuclear medicine imaging portfolio. The systems employ solid-state detector technology, allowing imaging applications for the entire body, brain, heart, and other parts of the body.
Read More: https://www.marketsandata.com/industry-reports/united-states-multimodal-imaging-market
Rising Application of Multimodal Imaging Boosts the Market Growth
The United States multimodal imaging market is expanding at a substantial rate because of the growing use of multimodal imaging equipment. Multimodal imaging combines anatomical, functional, and molecular data to produce comprehensive diagnostic information by integrating many imaging techniques, including PET/CT, PET/MRI, and SPECT/CT. This integration improves treatment planning and diagnostic accuracy, especially in oncology, neurology, and cardiology, where precise imaging is essential. Multimodal imaging has a significant market potential due to its increasing application in clinical research and personalized medicine, which allows more precise disease monitoring and individualized treatment plans. Advances in imaging technology have also increased the affordability and accessibility of these systems, leading to a rise in their use in clinical and research contexts. As healthcare providers seek to improve patient outcomes and streamline diagnostics, the demand for sophisticated multimodal imaging solutions continues to rise.
Consequently, the expanding range of applications and benefits drive market growth, reflecting a broader trend towards integrated and precise diagnostic imaging. For instance, the FDA’s approval of Siemens Healthineers AG’s Biograph Vision.X PET/CT scanner, received in November 2023, serves as a prime example of the growing use of multimodal imaging. The United States multimodal imaging market is expanding due to the increased need for integrated imaging solutions, which is seen in this advanced system that combines PET and CT for enhanced cancer diagnosis.
Promising Growth of PET/MRI Segment in the United States Multimodal Imaging Market
The United States multimodal imaging market is growing at a substantial rate due to the dominance of the PET/MRI segment. PET/MRI combines high-resolution anatomical imaging of magnetic resonance imaging (MRI) with sophisticated functional imaging capabilities of positron emission tomography (PET). This combination offers a thorough research and study of both structural and metabolic problems, improving therapy planning and diagnostic accuracy, particularly in the fields of neurology and oncology. The PET/MRI technology is gaining traction among healthcare professionals due to its capability to produce detailed images with less radiation exposure when compared to traditional PET/CT scans. Adoption of PET/MRI systems is also fuelled by the quick advances in technology, which include faster data capture and better image resolution.
As medical professionals and researchers increasingly recognize the value of PET/MRI in delivering superior diagnostic insights and improving patient outcomes, the segment’s prominence grows, contributing to the overall expansion of the multimodal imaging market in the United States. For instance, the FDA granted 510(k) clearance for FUJIFILM Healthcare Americas Corporation’s new 1.5 Tesla magnetic resonance imaging (MRI) system, the ECHELON Synergy, in August 2023.
Neurology Segment Dominates Multimodal Imaging Market
Multimodal imaging technology is capable of obtaining fine-grained images of nervous systems, thus can be used to diagnose a number of neurological conditions, ranging from stroke, traumatic brain injury, brain and spinal cord tumors, inflammation, infection, vascular abnormalities, brain damage connected to epilepsy to abnormally formed brain regions, and other neurodegenerative illnesses. Due to the growing use of multimodal imaging in the diagnosis of neurological diseases and the development of sophisticated equipment for neurology, the neurology segment of the market is anticipated to rise significantly. Additionally, it is anticipated that the rise in neurological conditions like dementia and Alzheimer’s disease will increase demand for MRI machines in the United States, which will probably support the market’s expansion throughout the projection period. For example, the Alzheimer’s Disease Facts and Figures 2023 study estimates that 6.7 million Americans 65 years of age and older will receive an Alzheimer’s dementia diagnosis in 2023. Furthermore, it is anticipated that by 2050, there would be 12.7 million of them living in the United States.
Future Market Scenario (2024-2031F)
The main factors contributing to the anticipated growth of the multimodal imaging systems market are the rising numbers of chronic diseases, increasing population and awareness, and thus, the rising need to conduct diagnostic tests. However, the growing need for precision medicine to maintain a healthy population is also going to fuel market growth in the future. Given that technology is advancing, cutting-edge technology in the area is expected. Players in this market are expanding at an unparalleled rate, introducing cost-effective and efficient technologies. Government policies and policies made by welfare bodies are also greatly fueling the market expansion.
For instance, in October 2023, Koninklijke Philips N.V. (Philips) announced its collaboration with Quibim, S.L. (Quibim) to introduce advanced AI-driven imaging software aimed at prostate cancer detection. By combining Philips’ innovative AI-enhanced MR imaging software with Quibim’s AI-powered image analysis software, healthcare providers can expedite and simplify prostate cancer diagnosis and care.
Report Scope
“United States Multimodal Imaging Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of United States multimodal imaging market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com/