The global brain imaging and neuroimaging market is poised for significant growth in the coming decade, with an anticipated average compound annual growth rate (CAGR) of 5.1% from 2023 to 2033. According to recent market analysis, the market, valued at USD 13.69 billion in 2023, is projected to surge to USD 22.41 billion by 2033.
This impressive growth is largely attributed to the rising prevalence of brain-related disorders, including neurological diseases, which has amplified the demand for advanced diagnostic and imaging technologies. With an increasing focus on neurological health, healthcare facilities are expanding their services and adopting cutting-edge imaging techniques to enhance diagnostic accuracy and treatment outcomes.
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Key drivers for this market expansion include:
- Growing Incidence of Brain Disorders: The rising number of patients with neurological conditions is driving the demand for brain imaging solutions that offer non-invasive, detailed insights into brain structure and function.
- Technological Advancements: The continuous evolution of imaging technologies, such as MRI, PET, and CT scans, has enabled healthcare professionals to achieve higher precision in diagnosing and monitoring brain disorders.
- Increasing Healthcare Investment: Governments and private healthcare providers are investing heavily in the expansion of healthcare facilities dedicated to neurological health, further fueling the demand for neuroimaging technologies.
With these driving forces in play, the brain imaging and neuroimaging market is set to continue its upward trajectory, offering vast opportunities for innovation, growth, and improved healthcare outcomes.
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.
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
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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