Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global molecular imaging market, by Technology (Gamma Camera, SPECT, PET, Magnetic Resonance Spectroscopy, Optical Imaging, and Molecular Ultrasound Imaging), By Application (Cancer, Heart Disease, Brain Disorder, Gastrointestinal Disorder, Lung Disorder, Bone Disorder, and Others), By End User (Hospital, Diagnostic Imaging Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 3.8 billion in 2017, and is estimated to display an impressive CAGR of 8.1% over the forecast period (2018-2026).
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The field of molecular imaging has witnessed major technological advancements to study disease states and physiology. For instance, optical methods, such as variations of fluorescence imaging, can resolve tissue microstructures or target specific cells using molecular probes. Mass spectrometry is known to be offering a new modality for molecular imaging in image-guided surgery by providing detailed information of the chemical makeup of surgical tissue without the need for molecular probes.
Molecular imaging helps improve the diagnosis and treatment of lung cancer. In breast cancer, molecular imaging is used to minimize the removal of axillary lymph nodes by determining which nodes are most likely to contain cancer cells. In gastrointestinal cancers, PET-CT, this technology helps identify cancer invasion in the body and assess patient response to chemotherapy.
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Manufacturers across the globe are focused on research and development in order to integrate advanced medical technologies into in vitro diagnosis. In 2014, Philips Healthcare received the U.S. FDA approval for spectral imaging system (IQon Spectral CT). The IQon Spectral CT is a leading, new, high standard for medical imaging. In 2013, in a study conducted by the Radiological Society of North America, Philips IQon Spectral CT system exhibited enhanced diagnosis in up to 70% cases as compared to conventional imaging methods. With rapid technological advancements, targeted therapy, presymptomatic detection, and personalized medicine are possible in future with the use multimodal molecular imaging. Furthermroe, researchers are employing molecular imaging to identify the strategies for developing new drugs and to design clinical trials to test their effectiveness.
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- Growing demand for early disease detection and the rising prevalence of cancer and other chronic diseases act as major growth-inducers for the global market.
- The SPECT technology segment is expected to generate significant revenue in 2018, owing to advanced radionuclide molecular imaging techniques that are able to evaluate biochemical changes and levels of molecular targets within a living subject.
- The leading players operating in the global molecular imaging market include Carestream Health, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Ltd, Hologic, Inc., Siemens AG, Philips Healthcare, Samsung Medison, Shimadzu Corporation, and Toshiba Medical Systems Corporation.
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