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Increasing Prevalence Of Brain Cancer Drives Growth Of Functional Brain Imaging System Market Driver: A Major Catalyst in the Evolution of the Functional Brain Imaging System Market in 2025
Functional Brain Imaging System Market Size
The market size for functional brain imaging systems has seen considerable growth in the recent past. The value which stands at $4.72 billion in 2024, is projected to increase to $5.08 billion in 2025 with a compound annual growth rate (CAGR) of 7.6%. The growth witnessed in the historic period has been due to increasing cases of serious illnesses, a rise in neurologic disorder prevalence, an increase in traumatic brain injuries, escalating incidents of brain cancer, and a surge in the demand for non-invasive and minimally invasive devices.
In the upcoming years, the functional brain imaging system market is predicted to experience robust growth, reaching a total value of $6.71 billion in 2029, with a compound annual growth rate (CAGR) of 7.2%. This anticipated growth during the forecast period can be attributed to a variety of factors: an uptick in road accidents, the increasing significance of brain imaging, a rise in dementia cases, heightened awareness of neurodegenerative diseases, a growing aging population, and increased healthcare investments. Key trends expected during this period feature the incorporation of multi-modal imaging, the creation of portable electroencephalogram (EEG) devices, sophisticated electrode designs, transcranial electrical stimulation (TES), and the inclusion of artificial intelligence (AI).
What Are the Key Drivers Behind the Growth of the Functional Brain Imaging System Market?
The escalating incidence of brain cancer is anticipated to drive the expansion of the functional brain imaging system market. Brain cancer, characterized by unregulated cell growth in the brain resulting in a tumor, can disrupt normal brain operations. The rising incidence is attributed to factors like an aging population, improved detection techniques, environmental hazards, and enhanced reporting. Functional brain imaging systems augment diagnostic accuracy, facilitate the implementation of safer and more efficient treatment strategies, and offer consistent monitoring to enhance patient outcomes. For example, data from Cancer Australia, the Government of Australia's cancer control agency, in January 2024 revealed that there were 1,552 brain cancer deaths in 2021 (945 males and 607 females) in Australia. This number is projected to ascend to 1,579 fatalities in 2023 (969 males and 610 females). Thus, the rising incidence of brain cancer is fueling the expansion of the functional brain imaging system market.
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Who Are the Major Industry Players Fueling Functional Brain Imaging System Market Expansion?
Major companies operating in the functional brain imaging system market are Siemens Healthineers AG, General Electric HealthCare Technologies Inc., NordicNeuroLab AS, Koninklijke Philips N.V., Shimadzu Corporation, Toshiba International Corporation, Elekta AB, Canon Medical Systems Corporation, Cortech Solutions Inc., Compumedics Ltd., Brain Products GmbH, Aspect Imaging Ltd., ANT Neuro GmbH, BIOPAC Systems Inc., Neuroelectrics Corporation, Twente Medical Systems International(TMSI) B.V., Advanced Brain Monitoring Inc., Gowerlabs Ltd., Artinis Medical Systems B.V., NIRx Medical Technologies LLC
Who Are the Major Industry Players Fueling Market Expansion?
Leading businesses in the functional brain imaging system market are shifting their focus towards creating inventive solutions, such as pulse sequence technology. This technology is intended to increase image clarity, sharpen diagnostic precision, and decrease scanning times. Consequently, it makes brain imaging procedures quicker and more effective. Pulse sequence technology deals with a series of strategically timed radiofrequency (RF) pulses and magnetic field gradients used during an MRI scan to control how images are produced by the MRI system. In July 2024, a Japan-based company named Fujifilm Holdings Corporation, known for its photographic films, introduced a 0.4-tesla MRI system called Aperto Lucent. This system accommodates RADAR motion compensating pulse sequence technology which diminishes the necessity for additional scans and reduces motion artifacts, often found intricate during MRI tests. Aperto Lucent taps into Fujifilm's acclaimed permanent magnet technology, making the installation process simpler and operational expenses lower by reducing the requirement for supplementary equipment to preserve the magnetic field.
How Is the Segmentation of the Functional Brain Imaging System Market Defined?
The functional brain imaging system market covered in this report is segmented -
1) By Type: Functional Magnetic Resonance Imaging (fMRI) Systems, Functional Near Infrared Spectroscopy (fNIRS) Systems, Positron Emission Tomography (PET) System, Others Types
2) By Application: Hospital, Diagnostic imaging center, Other Applications
3) By End-User: Neurology, Psychiatry, Oncology, Cognitive Science
Subsegments:
1) By Functional Magnetic Resonance Imaging (fMRI) Systems: Research-Grade fMRI Systems, Clinical fMRI Systems, High-Field fMRI Systems, Resting-State fMRI Systems
2) By Functional Near Infrared Spectroscopy (fNIRS) Systems: Portable fNIRS Systems, Multi-Channel fNIRS Systems, Wearable fNIRS Devices, Clinical fNIRS Systems
3) By Positron Emission Tomography (PET) Systems: Whole-Body PET Systems, Dedicated Brain PET Systems, PET/CT Hybrid Systems, PET/MRI Hybrid Systems
4) By Other Types: Electroencephalography (EEG) Systems, Magnetoencephalography (MEG) Systems, Diffusion Tensor Imaging (DTI) Systems, Transcranial Magnetic Stimulation (TMS) Systems
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What Is the Leading Region in the Functional Brain Imaging System Market?
North America was the largest region in the functional brain imaging system market in 2024. The regions covered in the functional brain imaging system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Functional Brain Imaging System Global Market Report?
- Market Size Analysis: Analyze the functional brain imaging system Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the functional brain imaging system market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall functional brain imaging system market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the functional brain imaging system market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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