The global brain imaging and neuroimaging market is set to experience robust growth over the next decade, with an anticipated average Compound Annual Growth Rate (CAGR) of 5.1% from 2023 to 2033. According to recent market analysis, the market value is expected to surge from USD 13.69 billion in 2023 to a substantial USD 22.41 billion by 2033.
Several key factors are driving this projected growth. One of the primary contributors is the escalating prevalence of brain-related disorders, which has led to an increased demand for advanced diagnostic and imaging technologies. The expansion of healthcare facilities focused on neurological health further supports this demand.
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The global rise in the geriatric population is another significant driver of market growth. Age-related neurological diseases are becoming more common, necessitating enhanced imaging solutions not only for seniors but also for younger demographics who are affected by various brain disorders.
Moreover, the prevalence of traumatic brain injuries has increased, coupled with the growing use of invasive devices, all of which have amplified the need for sophisticated brain imaging and neuroimaging technologies.
As the market continues to expand, stakeholders can anticipate innovative advancements in imaging technologies, improved diagnostic capabilities, and enhanced patient care. This growth trajectory underscores the importance of continued investment in brain imaging and neuroimaging research and development.
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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