Unlocking the Future of Medical Imaging: A Deep Dive into Multimodal Imaging

[Snehal Shaha]

The Multimodal Imaging Market refers to the global market for medical imaging technologies that utilize multiple imaging modalities to provide comprehensive and complementary information for diagnostic purposes, research, and treatment planning.

As per the recently published report by MarketsandMarkets™, The report "Multimodal Imaging Market by Technology (PET-CT, SPECT-CT, PET-MR, OCT/FMT), Application (Oncology, Cardiology, Brain, Ophthalmology), End User (Hospitals, Diagnostic Centers, Academia, Research) - Global Forecasts to 2028", is projected to reach USD 5.5 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 5.7% from 2023 to 2028.

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• 150 Market Data Tables
• 40 Figures
• 350 Pages and in-depth TOC on " Multimodal Imaging Market - Global Forecast to 2028”
Some of the prominent key players are:
• GE Healthcare (US),
• Koninklijke Philips N.V. (Netherlands),
• Canon Medical Systems Corporation (Japan),
• Siemens AG (Germany),
• Topcon Corporation (Japan). and many more......
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Multimodal Imaging Market.
Market Segmentation: -
• Based on technology, the global multimodal imaging market is segmented into PET-CT, PET-MR, SPECT-CT, OCT/FMT, and other multimodal imaging market. The SPECT/CT segment is anticipated to register the second highest growth rate over the forecast period. The PET/CT multimodal segment accounted for the highest share of the multimodal market in 2022.
• Based on end use, the global multimodal imaging market is segmented into brain & neurology, cardiology, ophthalmology, oncology, and research application. The brain and neurology segment is anticipated to register the second highest growth rate over the forecast period. The oncology application segment accounted for the highest share of the multimodal market in 2022.
• Based on end user, the multimodal market is segmented into hospitals, diagnostic imaging centres, research and academia and other end users. The hospitals segment accounts for the largest share of the market in 2022.
• The Asia Pacific multimodal market is estimated to register a significant growth from 2023 to 2028. The increasing patient population, rising geriatric population, rapid economic growth and increasing disposable income are driving the market growth in APAC countries.
Regional Analysis:

North America, comprising the US and Canada, accounted for the largest share of the multimodal imaging industry in 2022. The faster growth of the multimodal imaging market in North America can be attributed to its technological leadership, robust healthcare infrastructure, high market demand driven by prevalent chronic diseases and an aging population, ample financial resources for advanced medical equipment investment, established regulatory frameworks ensuring safety and quality, active research collaboration, insurance coverage for advanced diagnostics, patient expectations for comprehensive care, and a competitive market environment fostering innovation.
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Recent Developments of Multimodal Imaging Industry
• In March 2023, Philips and the Champalimaud Foundation collaborate to achieve a 50% reduction in the carbon footprint of their diagnostic imaging operations within the next five years.
• In May 2023, St. Luke's University Health Network chooses GE HealthCare for a USD 30 million purchase of state-of-the-art CT technology, incorporating the power of Artificial Intelligence.
• In November 2022, Canon Inc. revealed its plans to form a new subsidiary called Canon Healthcare USA, Inc. With this strategic move, Canon intends to enhance its position within the influential American medical market and expedite the expansion of its medical business.
• In April 2022, The enhanced partnership between GE HealthCare and Sinopharm focuses on the development and commercialization of medical equipment designed to meet the specific healthcare requirements of China.
The Multimodal Imaging Market is poised for continued growth as healthcare providers and researchers seek more advanced and accurate diagnostic and imaging solutions. Advancements in technology and the increasing focus on personalized medicine are likely to drive further innovation in this field.