The global multimodal imaging market is projected to reach USD 2.9 billion by 2024 from USD 2.3 billion in 2019, at a CAGR of 4.4%. The growth of this market is driven by growing applications of multimodal imaging systems, technological advancements in diagnostic imaging modalities, availability of funding for research, favorable reimbursement scenario, growing insurance coverage, and increasing R&D into radiotracers.
Some of the prominent players in the multimodal imaging market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), United Imaging Healthcare Co., Ltd. (China), Canon Medical Systems Corporation (Japan), Mediso Medical Imaging Kft (Hungary), Neusoft Medical Systems Co., Ltd. (China), Spectrum Dynamics Medical (Switzerland), Infraredx, Inc. (Japan), Topcon Corporation (Japan), Carl Zeiss AG (Germany), and Heidelberg Engineering (Germany).
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Analysis of the developments in the multimodal imaging market from 2016 to 2019 shows that product launches, market expansions, agreements, partnerships, collaborations, and acquisitions were the most widely adopted growth strategies by players in the market. Players adopted these strategies in order to strengthen their market positions.
GE Healthcare (US) dominated the multimodal imaging market in 2018. The company offers a broad range of products integral to the multimodal imaging market, which are widely used in key regions such as North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. GE Healthcare mainly focuses on the development of innovative products to further strengthen its position in the multimodal imaging market. Some key offerings of the company include SPECT/CT systems such as Discovery NM/CT 570c, PET/CT systems such as Discovery MI, SIGNA PET/MR system, and PET/CT + MR Trimodality Imaging, among other products.
Siemens Healthineers (Germany) held the second position in the multimodal imaging market in 2018. The company has a prominent presence in major markets, such as North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. To strengthen its current position and gain a larger share of the multimodal imaging market, the company focuses on enhancing the breadth of its product offerings. Siemens Healthineers also focuses on product upgrades, partnerships, and expansions. For example, Siemens Healthineers recently launched its Symbia Intevo Bold SPECT/CT, including the SAFIRE (Sinogram Affirmed Iterative Reconstruction) algorithm with enhanced image quality coupled with radiation dose reduction.
Multimodal Imaging Market by Technology (PET-CT, SPECT-CT, PET-MR, OCT, Trimodal), Application (Oncology, Cardiology, Brain, Ophthalmology, Musculoskeletal), End User (Hospitals, Diagnostic Centers, Academia, Pharma-Biotech) - Global Forecast to 2024
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