Molecular Imaging Market| Coherent Market Insights

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2. MOLECULAR IMAGING MARKET ANALYSIS 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) - Size, Share, Trends, and Forecast to 2026

3. Molecular imaging technology is used for characterization and measurement of biological processes at the cellular and molecular level by using imaging detectors. Molecular imaging offers more personalized approach to evaluation and management of cardiovascular disease conditions, such as atherosclerosis, heart failure, ischemic injury, thrombosis, and left ventricular remodeling. The technology has become an integral part of standard care for many types of cancer including breast, lung, and gastrointestinal cancer. Majority of the molecular imaging procedures involve an imaging device and an imaging agent or probe. A variety of imaging agents are used to visualize cellular activity, such as the blood flow, oxygen use, and chemical processes involved in metabolism. In nuclear medicine, a branch of molecular imaging, radiotracer is used as an imaging agent that include a radioactive atom or isotope. Other molecular imaging modalities, such as optical imaging and molecular ultrasound, use a variety of different agents. Magnetic resonance spectroscopy is able to measure chemical levels in the body, without the use of an imaging agent. The global molecular imaging market was valued at US$ 3.8 billion in 2017, and is expected to witness a CAGR of 8.1% over the forecast period (2018 – 2026).

4. Global Molecular Imaging Market Value (US$ Bn) & Y-o-Y Growth (%)

5. Increasing incidence of cancer, cardiovascular, and neurological diseases are expected to drive the molecular imaging market growth Increasing incidence of various diseases such as cardiovascular, cancer, inflammatory, and neurological diseases are propelling demand for molecular imaging and is expected to drive the molecular imaging market growth during the forecast period. These diseases are becoming increasingly prevalent with rising percentage of geriatric population worldwide. According to the American Heart Association 2015 data, in the U.S., around 2 million people die due to cancer and cardiovascular disease annually. Medical imaging is used for the early diagnosis and management of these diseases. For instance, for solid tumors, novel molecular imaging modalities such as Ultrasound, PET-CT, and MRI can facilitate earlier and more accurate diagnosis and staging, which are requisites for successful surgical therapy. Molecular imaging also plays an important role in dementia evaluation. According to the Society of Nuclear Medicine and Molecular Imaging, researchers are exploring the use of additional neuroimaging probes, including FDDNP and amyloid markers, to visualize abnormal plaques and tangles associated with Alzheimer’s disease.

6. Molecular Imaging Market - Regional Insights On the basis of region, the global molecular imaging market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America molecular imaging market is expected to foresee major revenue share, owing to well established healthcare infrastructure that offers all the molecular imaging modalities in various parts of the region. Moreover, increasing awareness among people about health coupled with prevalence of various diseases including cardiovascular, cancer, brain disorders is propelling demand for molecular imaging in the region. According to the Alzheimer’s Association, in 2017, over 5 million people were suffering from Alzheimer’s disease, which is also reported to be the sixth-leading cause of death in the U.S. According to Center for Disease Control (CDC), 2016, around 610,000 deaths were reported in the U.S. annually due to cardiac arrest and other cardiovascular diseases. This rate could be lowered with proper diagnostic and imaging technologies leading to opportunities for molecular imaging market growth.

7. Global Molecular Imaging Market Share 2017 (%), By Region

8. Molecular Imaging Market - Competitive Landscape Key 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. Several players operating in the medical imaging devices market are focusing on improving the image quality, in order to cater to unmet medical imaging needs.

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