7.5% CAGR Anticipated for Molecular Imaging Market During 2017-2027
Posted: Jan 03, 2018
The global molecular imaging market is expected to witness robust growth during the forecast period. This growth is expected to be primarily driven by increasing demand for advanced integrated molecular imaging devices such as PET-CT and PET-MR from hospitals and diagnostics imaging centres. "Molecular Imaging Market: Global Industry Analysis (2012 –2016) and Opportunity Assessment (2017 – 2027)," is the newly published report by Future Market Insights which focuses on the key strategies such as acquisitions, mergers, expansion and product launchesadopted by the manufacturers and integrators in this market for technology transfer and to increase consumer base in different geographies. The global molecular imaging market is projected to register a CAGR of 7.5% in terms of value during the forecast period i.e. 2017–2027 and to be valued at US$ 6,445.8 Mn by 2027.
Global Molecular Imaging Market: Drivers
Following are some of the factors which are contributing in the growth of the global molecular imaging market throughout the forecasted period.
Advancements in the molecular imaging
Favorable reimbursement for molecular imaging and treatment
Increasing demand for molecular imaging and diagnosis
Increasing incidences of ageing population’s MRI diagnostics
Expanding application of integrated PET-CT and PET-MR devices
Favorable government policies for startup companies
Increasing Strategic Collaborations among key players
Increasing reliance of physicians and radiologists on the technology
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Global Molecular Imaging Market: Forecast by Modality Type
On the basis of modality type, the global molecular imaging market is segmented into- Positron Emission Tomography (PET), Positron Emission Tomography- Computed Tomography (PET-CT),
Positron Emission Tomography-Magnetic Resonance (PET-MR), Single Photon Emission, Computed Tomography (SPECT), Magnetic Resonance Spectroscopy, Molecular Ultrasound Imaging Software. The SPECT segment of modality type accounted for 23.3%market share in 2016, which is expected to decrease to 22.7% by 2027end. This segment is expected to accounts for large revenue contributionto the global molecular imaging market as compared to other segmentsover the forecast period. On the other hand PET-CT molecular imaging segment is expected to witness a significant rise in revenue share over the forecast period, owing to increasing awareness about the advantages of PET-CT integrated devices compared to stand alone molecular imaging devices.
Global Molecular Imaging Market: Forecast by End User
This segment consists of hospital, ambulatory surgical centre, and diagnostic imaging centre. Hospital segment is sub-segmented into 500 + beds, 200-499 beds, and less than 200 Beds. Hospital segment dominated the global molecular imaging market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. Hospitals segment is expected to be the most lucrative among all end users, with attractiveness index of 1.8. This segment is expected to grab 58% revenue share in 2027.
Global Molecular Imaging Market: Forecast by Application
Application segment includes cardiology, oncology, gastrointestinal disorders, neurology disordersand others. In terms of value, oncology is the largest segment and is likely to be valued US$ 2,391.7 Mn in 2027. However, in terms of CAGR, neurological disorders segment is ahead with 8.4% Compound Annual Growth Rate at the end of the projected period. By market share index, this segment is expected to be the second largest in the global molecular imaging market.
Global Molecular Imaging Market: Forecast by Region
This report has covered seven regions such as North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan, and MEA. APEJrepresents the most lucrative market, followed by MEA andNorth America. The APEJ molecular imaging market revenue is expected to expand at a significant CAGR of 8.6% in terms of value over the forecast period. The hospitals and diagnostics imaging centres in APEJ are expectedto witness comparatively significant growthdue to increasingdemand of advanced molecular imaging and developing medicalinfrastructure in the region.
Global Molecular Imaging Market: Key Players
These are some of the key players in the global molecular imaging market- Hermes Medical Solutions, MIM Software Inc., Bruker Corporation, GE Company, Fujifilm Holdings Corp., Siemens AG, Koninklijke Philips N.V., Toshiba Medical System Corp., Hitachi Medical Corp.,Medisco Ltd., Positron Corporation, Esaote SpA, Carestream Health, Inc., Mirada Medical Limited.For more insights into the global industrial vacuum cleaner market, write in to Future Market Insights.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. Fmi is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India