Molecular Imaging Market - Competitive Landscape ,Insights And Trends

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).

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Molecular Imaging Market Restraints

However, there are some limitations associated with all molecular imaging modalities, which may restrain molecular imaging market growth. For instance, optical imaging lacks penetration depth, especially when working at visible wavelengths. Depth of penetration is used for the absorption and scattering of light to identify molecular structure. Moreover, optical imaging and ultrasound do not offer whole body imaging. MRI offers unlimited depth penetration and whole body imaging, however, it is more costly than other modalities. PET-CT imaging is not recommended for all patients due to harmful radiation that causes side effects to the body. For instance, it is not suitable for pregnant women, as the radiation could harm the baby.

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.

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.

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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This release was published on openPR.