Molecular Imaging (MI) Technologies Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, Germany, UK, France, Spain, Japan, South Korea, India, Brazil - Size and Forecast 2024-2028

Molecular Imaging (MI) Technologies Market Size 2024-2028

The molecular imaging (mi) technologies market size is forecast to increase by USD 3.09 billion, at a CAGR of 8.1% between 2023 and 2028.

• The market is experiencing significant growth, driven by the increasing adoption of advanced imaging devices and the growing number of FDA clearances for these technologies. These developments offer promising opportunities for companies operating in this space, enabling them to provide more accurate diagnoses and personalized treatment plans for various diseases. However, the market also faces challenges, primarily in the form of regulatory hurdles and compliance requirements.
• Navigating these obstacles will be crucial for market players seeking to capitalize on the opportunities presented by this dynamic and evolving market. Companies must stay informed of regulatory changes and invest in robust compliance frameworks to ensure they remain competitive and continue to meet the growing demand for advanced molecular imaging solutions.

What will be the Size of the Molecular Imaging (MI) Technologies Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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Molecular imaging (MI) technologies continue to evolve, shaping the diagnostic and therapeutic landscape across various sectors. These innovative techniques enable the visualization of biological processes at the molecular and cellular levels, offering valuable insights into disease mechanisms and treatment responses. Molecular probes, a crucial component of MI, are continually advancing, enabling the detection of specific biomolecules with high sensitivity and specificity. Spect imaging and perfusion imaging provide real-time assessment of tissue perfusion and metabolism, while image reconstruction algorithms refine image quality and enhance diagnostic accuracy. Dynamic contrast-enhanced MRI and MRI contrast agents play a significant role in visualizing tissue structure and function, while targeted drug delivery systems leverage MI for precise, localized therapy.

Near-infrared fluorescence adds to the arsenal of MI tools, offering high-resolution, real-time imaging capabilities. The MI marketplace remains dynamic, with ongoing research and development in areas such as ultrasound imaging, PET imaging, and optical imaging. Advancements in image registration methods, functional MRI, and targeted contrast agents further expand the scope of MI applications. Clinical translation and the integration of MI into routine clinical practice continue to unfold, as these technologies demonstrate their potential to improve patient outcomes and streamline diagnostic processes. The future of MI is bright, with ongoing research and innovation poised to revolutionize the way we diagnose and treat diseases.

How is this Molecular Imaging (MI) Technologies Industry segmented?

The molecular imaging (mi) technologies industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Hospitals and clinics
  • Research institutes
  • Pharmaceutical companies
  • Contract research organizations (CROs)
  • Others
• Application
  • Oncology
  • Cardiology
  • Neurology
  • Infectious diseases
  • Others
• Geography
  • North America
    • US
  • Europe
    • France
    • Germany
    • Spain
    • UK
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
    • Brazil
  • Rest of World (ROW)

By End-user Insights

The hospitals and clinics segment is estimated to witness significant growth during the forecast period.

The market is witnessing significant growth, with hospitals and clinics being a major end user due to the increasing demand for advanced diagnostic tools and personalized treatment options. The worldwide hospital sector, projected to generate USD4.23 trillion in revenue by 2024, is poised for steady growth, with a compound annual growth rate (CAGR) of 4.18% from 2024 to 2029. By 2029, this sector is expected to reach USD5.19 trillion in revenue. Hospitals are increasingly adopting MI technologies such as positron emission tomography (PET), single photon emission computed tomography (SPECT), magnetic resonance imaging (MRI), magnetic resonance spectroscopy (MRS), and quantitative image analysis.

These technologies enable enhanced diagnostic accuracy, improved patient outcomes, and support precision medicine through techniques like image fusion, perfusion imaging, dynamic contrast-enhanced MRI, and functional MRI. Furthermore, the development of molecular probes, targeted drug delivery, near-infrared fluorescence, and ultrasound imaging is expanding the scope of MI applications. Innovations in image registration methods, PET imaging, targeted contrast agents, molecular imaging agents, radiotracer kinetics, optical coherence tomography, fluorescence microscopy, diffusion-weighted imaging, contrast-enhanced ultrasound, clinical translation, multiphoton microscopy, photoacoustic imaging, and optical imaging are also driving market growth.

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The Hospitals and clinics segment was valued at USD 1.64 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 52% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is thriving, driven by advanced healthcare infrastructure and substantial investments in innovative medical technologies. The US leads this market, significantly contributing to the adoption and commercialization of new MI technologies. Notable advancements include progress in medical imaging systems and related devices. Canada is also a key player, focusing on precision medicine and early diagnostics. In February 2024, MMI (Medical Microinstruments, Inc.) secured USD110 million in Series C funding, underscoring North America's strong commitment to healthcare technology investment. Molecular imaging technologies encompass various modalities such as nuclear medicine imaging, preclinical imaging, image fusion techniques, magnetic resonance spectroscopy, quantitative image analysis, bioluminescent imaging, confocal microscopy, in vivo imaging, molecular probes, spect imaging, perfusion imaging, image reconstruction algorithms, dynamic contrast-enhanced MRI, MRI contrast agents, targeted drug delivery, near-infrared fluorescence, ultrasound imaging, PET imaging, image registration methods, positron emission tomography, targeted contrast agents, molecular imaging agents, radiotracer kinetics, functional MRI, optical coherence tomography, fluorescence microscopy, diffusion-weighted imaging, contrast-enhanced ultrasound, clinical translation, multiphoton microscopy, photoacoustic imaging, and optical imaging.

These technologies play a crucial role in enabling early and accurate diagnosis, monitoring disease progression, and assessing treatment efficacy. Innovations in molecular imaging agents, such as targeted drug delivery systems and contrast agents, are enhancing the diagnostic capabilities of various imaging modalities. For instance, targeted contrast agents for MRI and PET imaging improve the specificity and sensitivity of these techniques, leading to more accurate diagnoses. Similarly, near-infrared fluorescence imaging and optical imaging are gaining popularity due to their ability to provide real-time, high-resolution images of biological processes. The integration of advanced image processing techniques, such as machine learning and artificial intelligence, is revolutionizing molecular imaging, enabling faster and more accurate diagnoses.

Furthermore, the development of multimodal imaging systems, which combine multiple imaging modalities, is providing clinicians with a more comprehensive understanding of complex diseases. Clinical translation of molecular imaging technologies is a significant trend, with many companies focusing on bringing these technologies to the market. For example, molecular imaging agents are being developed for use in various therapeutic areas, including oncology, neurology, and cardiology. The increasing adoption of these technologies in clinical settings is driving market growth. In conclusion, the North American molecular imaging technologies market is experiencing significant growth, driven by advanced healthcare infrastructure, substantial investments, and innovative technological advancements.

The integration of molecular imaging technologies with other diagnostic and therapeutic modalities is leading to more accurate diagnoses, improved treatment outcomes, and enhanced patient care.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Molecular Imaging (MI) Technologies Industry?

• The FDA's growing clearance of products is the primary catalyst fueling market expansion.

• The market is experiencing significant growth due to the increasing number of FDA clearances for innovative imaging systems. For example, in June 2024, Siemens Healthineers obtained FDA approval for its Biograph Trinion, a state-of-the-art PET/CT scanner. This advanced system offers superior clinical capabilities, such as improved small lesion detection, high spatial resolution, and quick scans with minimized radiation exposure. Such approvals bolster market confidence, leading to broader adoption in hospitals and healthcare facilities. The Biograph Trinion's advanced features, including an air-cooled, digital detector and scalable CT technology, contribute to increased efficiency and lower operational costs. Nuclear medicine imaging, preclinical imaging, and in vivo imaging techniques, such as magnetic resonance spectroscopy, quantitative image analysis, bioluminescent imaging, and confocal microscopy, are increasingly being utilized in research and clinical applications.
• Image fusion techniques enable the integration of data from multiple imaging modalities, enhancing diagnostic accuracy and improving patient care. Overall, the advancements in MI technologies continue to revolutionize the healthcare industry, offering significant benefits to patients and healthcare providers.

What are the market trends shaping the Molecular Imaging (MI) Technologies Industry?

• Advanced imaging devices are gaining widespread adoption, representing a significant market trend. This trend is driven by the increasing demand for more accurate and efficient diagnostic tools in various industries, including healthcare and manufacturing.

• The market is witnessing a notable shift towards advanced imaging devices, which enhance diagnostic precision and improve patient comfort. One significant development in this field is the introduction of the VERITON-CT 400, a next-generation SPECT/CT scanner. Installed at Gustave Roussy, a leading cancer center in France, in March 2024, this advanced scanner offers improved diagnostic capabilities with 3D hybrid imaging, enhanced sensitivity, and energy resolution. The VERITON-CT scanner's unique 360-degree wraparound design enables detectors to move closer to the patient's body, increasing imaging accuracy and localization of tumors. Furthermore, the adoption of molecular probes, such as those used in spect imaging and dynamic contrast-enhanced MRI, and advanced image reconstruction algorithms, contribute to the market's growth.
• Near-infrared fluorescence and perfusion imaging are other emerging technologies that offer potential for targeted drug delivery and improved diagnostic accuracy. Overall, these advancements are transforming the MI technologies market, providing significant benefits to both healthcare providers and patients.

What challenges does the Molecular Imaging (MI) Technologies Industry face during its growth?

• Compliance with regulatory hurdles is a significant challenge impeding industry growth. In order to expand, businesses must navigate complex regulatory frameworks and ensure strict adherence to compliance requirements.

• The market is characterized by intricate regulatory landscapes, particularly in regions like the US and the European Union. Regulatory bodies such as the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) impose stringent guidelines for product approval. These guidelines necessitate extensive preclinical testing, clinical trials, and comprehensive documentation to ensure the safety and efficacy of new MI technologies. In the US, the FDA's approval process is meticulous and time-consuming, frequently taking several years to complete. Noncompliance with regulatory expectations at any stage can lead to substantial delays or even rejection of products, resulting in substantial financial consequences for companies aiming to introduce new MI technologies.
• Molecular imaging technologies encompass various modalities, including ultrasound imaging, positron emission tomography (PET), functional magnetic resonance imaging (fMRI), and others. Molecular imaging agents, such as targeted contrast agents and radiotracers, play a crucial role in enhancing image quality and specificity. Radiotracer kinetics and image registration methods are essential components of MI technology, ensuring accurate and precise image interpretation. Despite the regulatory challenges, the molecular imaging market continues to evolve, driven by advancements in technology and increasing demand for non-invasive diagnostic tools. Companies are investing in research and development to address regulatory hurdles and bring innovative MI solutions to market.

Exclusive Customer Landscape

The molecular imaging (mi) technologies market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the molecular imaging (mi) technologies market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, molecular imaging (mi) technologies market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Agilent Technologies Inc. - This company specializes in the production of sophisticated PET, SPECT, and hybrid molecular imaging systems. These advanced technologies cater to high-performance imaging requirements in both clinical and preclinical research applications.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Agilent Technologies Inc.
• Bruker Corp.
• Canon Medical Systems Corp.
• CMR Naviscan Corp.
• Cubresa Inc.
• FUJIFILM Holdings Corp.
• GE Healthcare Technologies Inc.
• Hitachi High Tech Corp.
• Hologic Inc.
• ImaginAb Inc
• Koninklijke Philips N.V.
• Mediso Ltd.
• Miltenyi Biotec B.V. and Co. KG
• MIM Software Inc.
• MR Solutions Ltd.
• Perkin Elmer Inc.
• Shanghai United Imaging Healthcare Co. Ltd.
• Siemens Healthineers AG
• Thermo Fisher Scientific Inc.
• TriFoil Imaging

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Molecular Imaging (MI) Technologies Market

• In January 2024, Siemens Healthineers, a leading medical technology company, launched the new generation of its Biograph mCT Flow molecular imaging system, featuring advanced PET-CT technology for improved diagnostic accuracy in oncology and cardiology (Siemens Healthineers press release).
• In March 2024, Philips and GE Healthcare announced a strategic collaboration to develop integrated molecular imaging and theranostics solutions, combining Philips' imaging technology with GE Healthcare's therapeutic oncology offerings (Philips press release).
• In May 2024, General Electric Company (GE) completed the acquisition of BK Medical, a Danish medical device company specializing in ultrasound systems and Molecular Imaging Probes, for approximately USD1.1 billion, expanding GE Healthcare's portfolio in the MI Technologies Market (GE press release).
• In April 2025, the U.S. Food and Drug Administration (FDA) approved the marketing of Invicro's AI-powered imaging analytics platform, MAIA, for use with PET and SPECT molecular imaging data, enabling faster and more accurate diagnosis of various diseases (Invicro press release).

Research Analyst Overview

• Molecular imaging (MI) technologies have gained significant traction in various medical fields, particularly in personalized medicine, disease diagnosis, and therapeutic monitoring. In the realm of cardiovascular disease, MI plays a crucial role in identifying prognostic factors and improving patient outcomes. Neurological disorders, such as Alzheimer's and Parkinson's diseases, are also under investigation using MI techniques for early detection and disease progression assessment. Cancer detection and oncology imaging are major applications of MI, with imaging biomarkers and contrast agent development being key areas of focus. High-throughput screening and translational research facilitate the rapid advancement of radiopharmaceutical development and clinical trials.
• Image processing software and analysis platforms are essential tools for enhancing image quality, assessing artifacts, and stratifying patients for effective treatment. In vivo studies and preclinical models are integral to the development of new MI platforms and applications. Neuroimaging techniques and image-guided surgery have revolutionized the diagnosis and treatment of neurological disorders. Therapeutic monitoring and drug discovery research are also benefiting from MI technologies, enabling precise targeting and optimizing treatment outcomes. Imaging system calibration and data acquisition systems ensure accurate and reliable image acquisition, while diagnostic applications span a wide range from infectious diseases to oncology. Molecular imaging centers and research institutions continue to drive innovation and advancements in this dynamic and evolving field.

Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Molecular Imaging (MI) Technologies Market insights. See full methodology.

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What are the Key Data Covered in this Molecular Imaging (MI) Technologies Market Research and Growth Report?

• CAGR of the Molecular Imaging (MI) Technologies industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the molecular imaging (mi) technologies market growth of industry companies

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