According to a recent report by Emergen Research, the global molecular imaging market is estimated to be worth USD 10.71 billion by 2027 growing at a CAGR of 5.3%. Rapid growth due to the growing prevalence of chronic diseases, such as cancer, will augment the molecular imaging industry. Cancer has a significant impact on social and economic development in the U.S. as well as the rest of the world and is a major contributor to the disease’s cost burden. 1,806,590 new cases of cancer are predicted to be diagnosed in the U.S. in 2020, and 606,520 deaths will occur due to the disease.
Furthermore, discovering cancer at an early stage increases the odds of survival significantly and, in turn, drives the market for molecular imaging. Spreading awareness to build a drive for early cancer diagnosis is a crucial step in the identification of the disease. It is necessary for early disease detection to identify probable warning of cancer symptoms and take rapid action.
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Key Highlights From The Report
- In July 2019, with a focus on pharmacokinetic modelling and molecular quantification, Bruker Corporation made an announcement about the acquisition of PMOD Technologies LLC. The PMOD software is used widely in the study of cardiology, neurology, and oncology PET studies, including molecular imaging testing.
- MRI provides the advantage of imaging areas of soft body tissue that are occasionally difficult to see using other forms of modalities. The detection and location of certain cancers are excellent with MRI. In addition, the most appropriate brain and spinal cord tumour molecular imaging technique is an MRI deploying contrast dye.
- Diagnostics centres are expected to expand in the forecast period at the fastest pace. Diagnostic centres are equipped with the appropriate molecular imaging system and specialist staff, as well as healthcare professionals, to assist individuals with particular symptoms in the diagnosis phase of diseases.
- Due to the high adoption of advanced imaging technologies, a growing prevalence of cancer, existing healthcare infrastructure, and the introduction of various initiatives to raise awareness about chronic diseases, the molecular imaging market in the North American region held the highest market share in 2019.
- Key participants include Digirad Corporation, Canon Inc., General Electric Company, Siemens Healthineers Inc., PerkinElmer Inc., Bruker Corporation, Cardinal Health, Advanced Accelerator Applications, Thermo Fisher Scientific, and DDD-Diagnostics A/S, among others.
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Emergen Research has segmented the global molecular imaging market on the basis of product type, application, end-user, and region:
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Positron Emission Tomography
- Single Photon Emission Computed Tomography
- Magnetic Resonance Imaging
- Computed Tomography
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Cardiovascular Diseases
- Respiratory Diseases
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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