The global Molecular Imaging Market size is predicted to be valued at roughly US$ 4.31 billion in 2022, with a CAGR of 5.41% to reach a total value of US$ 7.3 billion by 2032. This expansion can be linked to the increasing frequency of chronic diseases around the world, which has resulted in a greater demand for early and cost-effective diagnosis employing Molecular Imaging devices. Furthermore, the emergence of sophisticated gadgets, increasing healthcare infrastructure in emerging nations, and a growing senior population are driving expansion.
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The increased prevalence of chronic diseases, such as cancer and genetic illnesses, is likely to fuel demand for efficient and early disease diagnosis over the forecast period, adding to the growth of the global Molecular Imaging market. Furthermore, the increasing acceptance of Molecular Imaging for new applications, continued development and innovation in Molecular Imaging technologies, and the emergence of developing economies are all expected to generate considerable market potential possibilities.
The introduction of AI-based technologies, such as Fujifilm Corporation’s AI-based lung nodule detection technology and Canon Medical Systems Corporation’s One-Beat Spectral Cardiac CT, is likely to increase market size. The growing use of AI-based diagnostic equipment for the rapid detection of illnesses is also expected to be a key potential for the global Molecular Imaging market.
However, the high costs of modern Molecular Imaging systems, unfavourable reimbursements, and a lack of knowledge in emerging nations may stifle market expansion over the forecast period.
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Key Takeaways from the Market Study:
- In 2022, the global Molecular Imaging market is anticipated to be worth US$ 4.31 billion.
- The Molecular Imaging market in Europe is estimated to grow at a CAGR of 4% during the forecast period.
- The hospital category is expected to account for 46.5% of global sales in 2021.
- The Molecular Imaging market in APAC is estimated to grow at a CAGR of 6% during the forecast period.
- The North American Molecular Imaging market is estimated to account for 33% of worldwide revenue in 2021.
“Deployment of modern technologies in the healthcare sector and growing demand for early detection of chronic illness are likely to propel the demand for efficient Molecular Imaging equipment which will benefit the market during the forecast period,” says an FMI analyst.
Competition Analysis
Key players in the global Molecular Imaging market include:
- Hermes Medical Solutions
- Bruker Corporation
- GE Company
- Fujifilm Holdings Corp.
- Koninklijke Philips N.V.
- Siemens AG
- Toshiba Medical System Corp.
- Mirada Medical Limited
- Carestream Health, Inc.
- Esaote SpA
- Positron Corporation
- Medisco Ltd.
- Hitachi Medical Corp.
- MIM Software Inc
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Recent Developments in the Market:
- In September 2021, Hermes Medical Solutions and Isotopia Molecular Imaging announced a new collaboration with Isotopia to raise awareness and co-promote the benefits of dosimetry, personalized medicine, and radiopharmaceutical therapy.
- In February 2021, Royal Philips announced the acquisition of BioTelemetry, a US-based player that provides remote cardiac diagnostics and monitoring. The acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated solutions.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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