DUBLIN, July 28, 2021--(BUSINESS WIRE)--The "Molecular Imaging Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global molecular imaging market is evaluated at US$4.199 billion for the year 2019 growing at a CAGR of 5.68% reaching the market size of US$6.183 billion by the year 2026.
Where other diagnostic imaging procedures-such as x-rays, computed tomography (CT), and ultrasound-offer pictures of physical structure, molecular imaging allows physicians to see how the body is functioning and to measure its chemical and biological processes. Molecular imaging offers unique insights into the human body that enable physicians to personalize patient care.
In terms of diagnosis, molecular imaging can provide information that is unattainable with other imaging technologies or that would require more invasive procedures such as biopsy or surgery identify disease in its earliest stages and determine the exact location of a tumor, often before symptoms occur or abnormalities can be detected with other diagnostic tests.
As a tool for evaluating and managing the care of patients, molecular imaging studies help physicians; determine the extent or severity of the disease, including whether it has spread elsewhere in the body, select the most effective therapy based on the unique biologic characteristics of the patient and the molecular properties of a tumor or other disease, determine a patient's response to specific drugs, accurately assess the effectiveness of a treatment regimen, adapt treatment plans quickly in response to changes in cellular activity, assess disease progression, identify recurrence of disease and help manage ongoing care.
The rising prevalence of such disorders along with the growing aging population has driven demand for molecular imaging significantly.
Technological advancements in the medical sector will further contribute to market growth. The growing adoption of hybrid molecular imaging systems is expected to provide a great opportunity for the expansion of the market across potential regional markets. Geographically, North America dominates the global molecular imaging market while the Asia Pacific is expected to be the fastest-growing market in the years ahead owing to rising healthcare spending in emerging economies of the region.
Certain factors that are propelling the growth of the market include technological advancements, increasing diagnostic applications in various diseases, such as cancer and cardiovascular diseases, government support, and a shift from standalone to hybrid modalities.
Rising technological advancements in the healthcare sector at a global level will drive the market during the forecast period.
The growth of the molecular imaging market is fuelled by the increasing technological advancements taking place in the sector at an exponential rate. The technological advancements in the field of imaging have always been challenging to practitioners in how best to optimize their inpatient care.
Over recent years, scientists, researchers, and technologists have been able to bring systems in clinical practice, in which two or even more two standalone diagnostic imaging modalities are combined. Some of those multimodality imaging systems include PET/CT, SPECT/CT, PET/MRI, and PET/SPECT/CT. Furthermore, the increased use of AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis is developed in several countries across the world.
Supportive government regulations for healthcare will be a tailwind to the growth of the market during the forecast period.
The growth of the market of molecular imaging will be further fuelled by its increasing number of supportive government regulations towards the technology. For instance, In 2016, the AMIPA (American Medical Isotope Production Act) and the DOE/NNSA (Department of Energy) established a Uranium Lease and Take-Back (ULTB) program in the United States.
Under this program, the DOE/NNSA makes LEU (Low Enriched Uranium) available through lease contracts for the irradiation and production of Mo99 for medical uses. The AMIPA not only promotes the domestic production of Mo-99 but also aims to replace the role of HEU (High Enriched Uranium) in the production of medical radioactive isotopes.
Moreover, Canada is one of the largest producers of Technetium-99m. With the use of Tc-99m in radiopharmaceuticals, the market is expected to grow at a tremendous rate in Canada. It is also combined with a variety of biologically active molecules to perform non-invasive, real-time imaging of the human body.
The players in the global molecular imaging market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years.
The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Molecular imaging market Analysis, by Device type
5.2. Positron Emission Tomography Scanner
5.3. Single Photon Emission Computed Tomography Scanner
5.4. Gamma Camera
5.5. Nuclear Magnetic Resonance Spectrometer
6. Molecular imaging market Analysis, by Application
7. Molecular imaging market Analysis, by End user
7.3. Ambulatory Surgical Centers
7.4. Diagnostic Imaging Centers
8. Molecular imaging market Analysis, by Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
Bracco Imaging SpA
Cardinal Health Inc.
Koninklijke Philips NV
CMR NAVISCAN (GAMMA MEDICA INC.)
Nordion (Canada) Inc.
NTP Radioisotopes SOC
Canon Medical Systems Corporation
For more information about this report visit https://www.researchandmarkets.com/r/bj70rq
View source version on businesswire.com: https://www.businesswire.com/news/home/20210728005771/en/
Laura Wood, Senior Press Manager
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