Multimodal Imaging Market by Application and Geography - Forecast and Analysis 2022-2026

The multimodal imaging market share is expected to increase by USD 665.44 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.63%.

This multimodal imaging market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers multimodal imaging market segmentation by application (hospitals, diagnostic centers, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)). The multimodal imaging market report also offers information on several market vendors, including Bruker Corp., Canon Inc., Carl Zeiss AG, General Electric Co., Heidelberg Engineering GmbH, Koninklijke Philips NV, Mediso Ltd., MILabs BV, MR Solutions Ltd., Neusoft Medical Systems Co. Ltd., Nipro Corp., PerkinElmer Inc., Shanghai United Imaging Healthcare Co. Ltd., Siemens AG, Spectrum Dynamics Medical Inc., Topcon Corp., and TriFoil Imaging among others.

What will the Multimodal Imaging Market Size be During the Forecast Period?

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Multimodal Imaging Market: Key Drivers, Trends, and Challenges

The growing prevalence of chronic diseases is notably driving the multimodal imaging market growth, although factors such as the high cost of multimodal imaging equipment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the multimodal imaging industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Multimodal Imaging Market Driver

One of the key factors driving growth in the multimodal imaging market is the growing prevalence of chronic diseases. Multimodal imaging equipment is used to diagnose severe and chronic diseases. The increasing prevalence of chronic conditions, such as cancers, cardiovascular diseases, and neurological diseases, is expected to trigger the demand for medical equipment, including multimodal imaging systems, and subsequently drive the growth of the global multimodal imaging market during the forecast period. The prevalence of numerous respiratory disorders, including lung cancer, asthma, and chronic obstructive pulmonary disease (COPD), is increasing on a global scale which will boost the global multimodal imaging market growth during the forecast period. The high incidence of cancer is increasing the demand for cancer screening and diagnoses, which is expected to drive the growth of the global multimodal imaging market. Similarly, the increasing prevalence of other chronic conditions, such as cardiovascular diseases and neurological disorders, is expected to augment the demand for multimodal imaging systems.

Key Multimodal Imaging Market Trend

The technological advancements in diagnostic imaging equipment is a multimodal imaging market trend that is expected to have a positive impact in the coming years. The increase in the technological advancements in multimodal imaging is aimed at improving the image quality, decreasing the overall cost of diagnostic procedures, and providing accurate diagnoses with better patient care. Several vendors are conducting extensive R&D activities to develop advanced multimodal imaging solutions. Such advancements include the development of portable and handheld equipment, 5D ultrasound equipment, and innovations in digital X-rays with wireless DR detectors. The emergence of three-dimensional (3D), four-dimensional (4D), and five-dimensional (5D) technologies in multimodal imaging has enabled physicians to perform better diagnoses. The companies involved in multimodal imaging technologies are constantly improving their product offerings and incorporating cutting-edge technologies such as cloud computing and artificial intelligence (AI). Such technological advancements will drive the growth of the global multimodal imaging market.

Key Multimodal Imaging Market Challenge

The high cost of multimodal imaging equipment will be a major challenge for the multimodal imaging market during the forecast period. The high cost of multimodal imaging equipment and procedures increases the burden of costs on end-users and patients. A PET/CT scan equipment costs between $ 75,000 and $500,000. For instance, a gamma camera costs between $400,000 and $600,000, which is expensive for developing nations such as India, which are particularly price sensitive. As a result, healthcare facilities turn to accumulate refurbished products, which negatively impacts the growth of the global multimodal imaging market. Additionally, multimodal imaging equipment requires annual service maintenance. The service maintenance cost includes the cost of preventative maintenance, parts, labor charges, and technician allowance. This further increases the cost for end-users, such as hospitals, diagnostic centers, and clinics. The high costs associated with multimodal imaging procedures reduce their adoption, particularly in developing countries. Such factors are expected to limit the growth of the global multimodal imaging market.

This multimodal imaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global multimodal imaging market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the multimodal imaging market during the forecast period.

Who are the Major Multimodal Imaging Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Bruker Corp.
• Canon Inc.
• Carl Zeiss AG
• General Electric Co.
• Heidelberg Engineering GmbH
• Koninklijke Philips NV
• Mediso Ltd.
• MILabs BV
• MR Solutions Ltd.
• Neusoft Medical Systems Co. Ltd.
• Nipro Corp.
• PerkinElmer Inc.
• Shanghai United Imaging Healthcare Co. Ltd.
• Siemens AG
• Spectrum Dynamics Medical Inc.
• Topcon Corp.
• TriFoil Imaging

 

This statistical study of the multimodal imaging market encompasses successful business strategies deployed by the key vendors. The multimodal imaging market is fragmented and the vendors are deploying growth strategies such as increasing their R&D investments to develop new products and improve their existing products to compete in the market.

Product Insights and News

• global.canon - The company offers multimodal imaging products such as Xephilio OCT-S1.

• global.canon - The office segment offers office MFDs, laser MFPs, laser printers, digital continuous feed presses, digital sheet-fed presses, wide-format printers, and document solutions.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The multimodal imaging market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Multimodal Imaging Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the multimodal imaging market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Multimodal Imaging Market?

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35% of the market’s growth will originate from North America during the forecast period. The US is the key market for multimodal imaging in North America. Market growth in this region will be slower than the growth of the market in other regions.

The rising prevalence of chronic diseases, technological advancements, product launches, the increase in the number of awareness programs regarding the early diagnosis of diseases, and the high healthcare spending by people will facilitate the multimodal imaging market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic in 2020 negatively impacted the regional multimodal imaging market in North America, which resulted in the temporary shutdown of various industries, including manufacturers of multimodal imaging equipment. However, in 2021, the demand for multimodal imaging increased as healthcare centers that treat various diseases which require multimodal imaging were reopened due to the initiation of vaccination drives. This demand is expected to continue during the forecast period leading to the growth of the regional multimodal imaging market.

What are the Revenue-generating Application Segments in the Multimodal Imaging Market?

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The multimodal imaging market share growth by the hospitals segment will be significant during the forecast period. In 2021, the hospitals segment was the largest segment in the global multimodal imaging market. Owing to an increase in demand for early diagnosis and treatment due to rising healthcare costs worldwide and the incidence of numerous chronic diseases. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the multimodal imaging market size and actionable market insights on post COVID-19 impact on each segment.

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Multimodal Imaging Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.63%
Market growth 2022-2026	$ 665.44 million
Market structure	Fragmented
YoY growth (%)	4.06
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 35%
Key consumer countries	US, Germany, France, UK, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Bruker Corp., Canon Inc., Carl Zeiss AG, General Electric Co., Heidelberg Engineering GmbH, Koninklijke Philips NV, Mediso Ltd., MILabs BV, MR Solutions Ltd., Neusoft Medical Systems Co. Ltd., Nipro Corp., PerkinElmer Inc., Shanghai United Imaging Healthcare Co. Ltd., Siemens AG, Spectrum Dynamics Medical Inc., Topcon Corp., and TriFoil Imaging
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Multimodal Imaging Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive multimodal imaging market growth during the next five years
• Precise estimation of the multimodal imaging market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the multimodal imaging industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of multimodal imaging market vendors

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