July 11, 2022 — The "Molecular Imaging Market, by Application (Cancer, Heart Disease, Brain Disorder), by Technology (Gamma Camera, SPECT, PET, Magnetic Resonance Spectroscopy), by End User (Hospital, Diagnostic Imaging Centres), and by Region - and Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global molecular imaging market is estimated to be USD 6,750.1 million in 2021 and is expected to witness a CAGR of 7.84% during the forecast period.
Elderly population in emerging countries such as China and India, the adoption and advancement in technologies such as PET/CT, non-ionizing imaging techniques, and growing demand for efficient and accurate imaging systems for better and effective diagnoses of diseases are driving the global market. However, continuous improvement and innovation in molecular imaging technologies and high cost of the technologies are expected to hinder the global molecular imaging market growth.
On the basis of technology, the global market is segmented into gamma cameras, single-photon emission computed tomography (SPECT), positron emission tomography (PET), magnetic resonance spectroscopy, optical imaging, and molecular ultrasound imaging. A positron emission tomography (PET) is a non-invasive and simple technology. It delivers improved imaging data and increases patient convenience by decreasing the scanning session count, thus PET technology dominates the global market. PET as an imaging method depends on its ability to discover chronic diseases at early stages.
On the basis of application, the global market is segmented into cancer, heart disease, brain disorder, gastrointestinal disorder, lung disorder, bone disorder, and others. Cancer segment accounted for the largest revenue share in the global market in 2021. Increasing occurrence of various chronic diseases such as cancer and other genetic disorders are propelling demand for early disease diagnosis eventually driving the medical imaging market growth.
By End User
On the basis of end-user, the market is categorized into hospitals, diagnostic imaging centers, and others. Hospitals & clinics accounted for the largest market share the market in 2021. The factors including well-resourced operating & surgical rooms, attendance of skilled healthcare professionals, and improved health coverage for healthcare services from various private and group insurance, among others, are accountable for the market dominance of hospitals.
North America dominated the global market in 2021 and is projected to maintain its domination during the forecast period. The reason for this market share is the increase owing to increasing healthcare aid from government and private organizations to develop technologically advanced medical systems that will help in fulfilling the demand of increasing population suffering from various diseases.
Asia Pacific market is projected to grow at a fastest CAGR during the forecast period. Trends such as growing senior population, urbanization, prevalence of chronic diseases, and demand for improved diagnostic care in the region expected to boost the regional growth.
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