Hybrid Imaging Market Research Report, Popular Trends & Technological Advancements & Forecast To 2026
The global hybrid imaging market size is expected to reach USD 9.8 billionby 2026, according to a new report by Radiant Insights, Inc., registering a 4.5% CAGR over the forecast period. Increasing demand for accurate diagnostic techniques for cancer and cardiac disorders is expected to drive the market. Rising government initiatives for creating awareness regarding multimodal imaging devices are also expected to contribute toward market growth.
Increasing installation of such devices in research centers and institutions to enhance diagnostics in the field of oncology, cardiology, neurology, and others is expected to boost market growth. Leading players in the market are showcasing various multimodal imaging devices at medical conferences to increase their product reach. However, high cost and complications associated with these devices is expected to impede market growth during the forecast period.
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Hybrid imaging devices require skilled professionals to understand the data collected by these combined devices. Therefore, various training programmes are conducted by several non-profit and government funded organizations to increase the adoption of hybrid imaging devices for the diagnosis of a disease.
North America dominated the hybrid/multimodal imaging market in 2018 and is expected to grow at a significant rate during the forecast period. The growth observed in this region is largely due to presence of global players and increasing adoption of advanced equipment such as hybrid imaging devices. Moreover, increasing awareness regarding nuclear medicine and molecular diagnostics in the region is expected to contribute toward the growth in this region.
Asia Pacific is expected register the strongest growth over the forecast period. This can be primarily attributed to growing usage of advanced devices such as PET/CT systems in radiology departments across emerging economies. Thriving medical tourism in numerous countries has piqued the interest of global market players, who are looking to invest in the development and launch of advanced software in the region. The Europe market is fueled by ongoing efforts by various non-profit organizations in conducting educational and training programs for scientists, physicians, technologists, physicists, radiographers, and others in the field.
Further key findings from the report suggest:
• PET/CT systems held the largest share in 2018 based on type, and the segment is expected to grow at a significant pace due to increasing development and installation of these devices in various end users such as hospitals and diagnostic centers
• SPET/CT systems segment in hybrid imaging market will exhibit the fastest growth rate during the forecast period. Data captured by SPET/CT helps in understanding the detailed morphology and pathogenesis of a disease, thereby enhancing the quality of diagnostic output
• In 2018, the oncology segment held the dominant share of hybrid imaging systems market by application, largely due to increasing number of cancer cases and growing awareness for cancer diagnosis
• The cardiology segment is expected to grow at the fastest pace during the forecast period. Cardiac hybrid imaging helps in accurately capturing morphological and functional information in a single setting, thereby easing the diagnosis of cardiac disorders
• Hospitals held the largest market share in 2018 on the basis of end use, mainly due to higher installation of technologically advanced devices for early diagnosis and treatment of a disease
• Geographically, Asia Pacific is expected to register the fastest growth rate during the forecast period due to increasing number of radiology departments in the region and launch of advanced software by leading players.
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Type
1.1.2. Application
1.1.3. End Use
1.1.4. Regional scope
1.1.5. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. Radiant Insights internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.3.5.1. Data for primary interviews in North America
1.3.5.2. Data for primary interviews in Europe
1.3.5.3. Data for primary interviews in Asia Pacific
1.3.5.4. Data for primary interviews in Latin America
1.3.5.5. Data for Primary interviews in MEA
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Commodity flow analysis (Model 1)
1.6.1.1. Approach 1: Commodity flow approach
1.6.2. Volume price analysis (Model 2)
1.6.2.1. Approach 2: Volume price analysis
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1
1.9.2. Objective 2
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Type outlook
2.2.2. Application outlook
2.2.3. End use outlook
2.2.4. Region outlook
2.3. Competitive Insights
Chapter 3. Hybrid Imaging Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Growing prevalence of cancer and cardiac diseases
3.4.1.2. Increasing government initiatives for multimodal/hybrid imaging
3.4.1.3. Installation of hybrid imaging devices
3.4.1.4. Increasing number of training programs for multimodal imaging
3.4.1.5. Technological advancements
Continued…
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