The global brain imaging and neuroimaging industry is anticipated to thrive at an average CAGR of 5.1% between 2023 and 2033. The market is expected to have a market share of US$ 22.41 billion by 2033, while it is likely to be valued at US$ 13.69 billion in 2023.
The increasing cases of brain issues and extended healthcare facilities concerning the brain are expected to flourish the market growth. Furthermore, the rising geriatric population worldwide is also increasing the health risks associated with the brain. The geriatric population is pushing neurological diseases among young people as well. Alongside this, traumatic brain injuries and the application of invasive devices are increasing the demand for brain imaging and neuroimaging solutions.
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Rising cases of brain cancer and the awareness around brain diseases like tumors are pushing end users to rush to healthcare facilities. Moreover, healthcare facilities are improvising brain and neurological solutions. Other than the surgeries, advanced imaging is required due to the enhanced diagnostics procedures. Emerging economies like China and India are building the healthcare infrastructure that further provokes market growth during the forecast period.
The advanced sensory and imaging technology delivers enhanced visualization. The common imaging techniques include functional magnetic resonance imaging (fMRI), computerized tomography (CT), positron emission tomography (PET), and functional near-infrared spectroscopy (fNIRS). Imaging also delivers applications like identification of the effects of stroke, locating cysts and tumors, and swelling and bleeding.
Key Points:
- The United States market leads the North American brain imaging and neuroimaging market in terms of market share in North America. The United States held a market share of 33.8% in 2022. The factors attributed to the growing brain cancer cases along with the increased awareness around brain health. North America held a market share of 37.8% in 2022.
- The German brain imaging and neuroimaging market held a market share of 8.8% in 2022. The market growth is caused by an increased healthcare budget and already existing advanced public health facilities around cancer research and tumor detection. The European region held a market share of 32.2% in 2022.
- The Indian market thrives at an average CAGR of 5.1% between 2023 and 2033. The growth is attributed to the government building their neuro healthcare facilities.
- The Chinese market also thrives at a CAGR of 6.3% during the forecast period.
- Based on imaging type, the computed tomography industry segment leads the market as it held a market share of 28.70% in 2022.
- Based on end-user type, the hospital’s segment strives as it accumulated a revenue share of 43.20% in the global market in 2022.
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Competitive Landscape:
The key suppliers focus on vivid imaging, better visualization, and cheaper alternative. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments:
- While showcasing the AI-powered integrated diagnostic approach, Philips Healthcare has also showcased the interoperable solutions for smart imaging systems and informatics solutions to connect teams.
- Toshiba Medical Systems has expanded the Neuro MR capabilities with advanced gradient offering.
Key Players:
- Varian Medical Systems
- General Electric Company
- Siemens AG
- Philips Healthcare
- Toshiba Medical Systems
- Hitachi Medical Systems
- Esaote SpA
- Sanrad Medical Systems Pvt. Ltd
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Key Segments Covered:
By Imaging Type:
- Functional Magnetic Resonance Imaging (fMRI)
- Computed Tomography (CT)
- Positron Emission Tomography (PET)
- Electroencephalography (EEG)
- Magnetoencephalography (MEG)
- Near Infrared Spectroscopy (NIRS)
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics and Diagnostic Centers
By Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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