Global Molecular Imaging Market, By Product Type [Devices (Molecular Ultrasound Imaging, Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Nuclear Magnetic Resonance (NMR) Spectrometer, Hybrid Products ( Positron Emission Tomography - Computed Tomography (PET-CT), Positron Emission Tomography- Magnetic Resonance (PET-MR), Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT), Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)), Software Platforms (On Premises Solutions, Cloud Based Solutions)], By Application (Cardiovascular, Neurology, Oncology, Respiratory, Gastrointestinal, and Other Application, By End User (Hospitals, Diagnostic Imaging Centers, Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 4.77 Bn in 2023 and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on getting U.S. Food and Drug Administration clearance for their newly developed product, which is expected to drive the global molecular imaging market over the forecast period. For instance, on February 1, 2023, Clarius Mobile Health, a provider of handheld ultrasound systems, received 510(k) clearance for its new MSK Artificial Intelligence (AI) model, which automatically identifies and measures tendons in the foot, ankle, and knee using AI. The new MSK AI model will be available soon with the Clarius L7 HD3 and Clarius L15 HD3 high-frequency wireless handheld ultrasound scanners.
Global Molecular Imaging Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
Furthermore, key market players operating in the global molecular imaging market faced major challenges on various fronts due to the COVID-19 pandemic. The major challenges include the supply of raw materials required for manufacturing enteral feeding devices due to irregularities in transportation facilities. Moreover, distributors of molecular imaging systems are experiencing irregular demand for products from retailers.
Global Molecular Imaging Market: Key Developments
On March 16, 2023, Accelus, a medical technology company, announced that the U.S. Food and Drug Administration (FDA) has issued a 510(k) clearance to Accelus for its Remi Robotic Navigation System for use with GE OEC 9900 C-Arm fluoroscopic imaging systems.
On January 18, 2023, AC IMMUNE SA, a biotechology company, in partnership with Life Molecular Imaging (LMI), a medical device company, imaged the first patient in ADvance, the pivotal Phase 3 trial of PI-2620, a Tau PET (positron emission tomography) imaging agent for AD (Alzheimer’s disease). PI-2620 was discovered in collaboration between AC Immune and LMI and is developed under a strategic collaboration and exclusive licensing agreement with LMI.
On January 9, 2023, Canon Medical Systems USA, Inc., a subsidiary of Canon Medical Systems Corporation, a manufacturer of diagnostic imaging technology, announced that it had completed strategic partnership agreement with ScImage, Inc, a software company. Sclmage provides cloud-native enterprise image management, PACS and image exchange solutions for the healthcare industry, based out of Los Altos, U.S.
In July 2022, interdisciplinary researchers at the Beckman Institute for Advanced Science and Technology, a unit of the University of Illinois, received federal funding to develop ultrasound imaging methods that would allow researchers to analyze the neurovascular abnormalities that underlie Alzheimer's disease. Their less-cost, widely accessible technique could eventually help in the disease’s early detection.
In April 2022, GE HealthCare, a healthcare technology and diagnostics company, and Medtronic, a medical device company, announced a collaboration focused on the unique needs and demand for care at ambulatory surgery centers (ASCs) and office-based labs (OBLs). Under this new collaboration, customers will be able to access extensive product portfolios such as fixed c-arm imaging systems that have been used more and more frequently in ASCs and OBLs for cardiac and peripheral vascular procedures, among others.
Browse 35 Market Data Tables and 33 Figures spread through 180 Pages and in-depth TOC on “Global Molecular Imaging Market”- Forecast to 2030, Global Molecular Imaging Market, By Product Type [Devices (Molecular Ultrasound Imaging, Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Nuclear Magnetic Resonance (NMR) Spectrometer, Hybrid Products ( Positron Emission Tomography - Computed Tomography (PET-CT), Positron Emission Tomography- Magnetic Resonance (PET-MR), Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT), Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)), Software Platforms (On Premises Solutions, Cloud Based Solutions)], By Application (Cardiovascular, Neurology, Oncology, Respiratory, Gastrointestinal, and Other Application), By End User (Hospitals, Diagnostic Imaging Centers, Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/molecular-imaging-market-2191
Key Takeaways of the Global Molecular Imaging Market:
- The global molecular imaging market is expected to exhibit a CAGR of 5.6% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global molecular imaging market.
- Among application, the gastrointestinal segment is expected to provide a lucrative opportunity for the growth of the global molecular imaging market during the forecast period, and this is attributed to the increasing prevalence of gastrointestinal disorders globally as molecular imaging is used for grading intestinal inflammation. For instance, according to an article published in April 2020 by Elsevier Inc., a publisher, more than 40% of people globally have functional gastrointestinal disorders, which have an impact on quality of life and health care utilization.
- Among region, North America is expected to be the dominant region in the global molecular imaging market, owing to the product launches by key market players. For instance, in July 2022, Bruker, a U.S.-based manufacturer of scientific instruments for molecular and materials research, launched PhenoRisk PACS RuO, a research-use-only NMR test for molecular phenomics research on ‘Long COVID’ patients’ blood samples. The PhenoRisk PACS RuO test is promising for research on early-stage risk factors, longitudinal recovery monitoring, and potential secondary organ damage in cardiovascular disease, type II diabetes, inflammation, and kidney dysfunction. This, in turn, is expected to drive growth of the market.
Major players operating in the global molecular imaging market are GE Healthcare, Bruker Corporation, Fujifilm Holdings Corp., Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems Corporation, United Imaging Healthcare Co., Ltd., Mediso Kft., Positron Corporation, Esaote SpA, Carestream Health, Mirada Medical Limited, and Hermes Medical Solutions.
