all report title image
  • Published On : Dec 2021
  • Code : CMI2191
  • Industry : Medical Imaging
  • Pages : 239
  • Formats :

Molecular imaging is an emerging field that involves molecular biology, chemistry, computer, engineering, and medicine. Various modern imaging technologies have been widely used to monitor structural, functional, and molecular changes in cancer tissues, including optical imaging (either by bioluminescence or fluorescence), computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), single-photon emission computed tomography (SPECT), and ultrasound (US).

The global molecular imaging market is estimated to be valued at US$ 4,309.0 million in 2021 and is expected to exhibit a CAGR of 5.4% during the forecast period (2021-2028).

Figure 1. Global Molecular Imaging Market in Terms of Value (US$ million), By Region, 2021

Molecular Imaging  | Coherent Market Insights

The high incidence of various chronic diseases is estimated to drive the global molecular imaging market growth during the forecast period.

The increasing prevalence of various chronic diseases such as cancer and other genetic disorders are propelling the demand for early disease diagnosis, which is expected to drive the global molecular imaging market growth. According to the Centers for Disease Control and Prevention’s (CDC) February 2018 data, in the U.S., around 22,000 men and 9,000 women suffer from liver cancer, and around 16,000 men and 8,000 women die from liver cancer annually.

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Molecular Imaging Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 4,309.0 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.4% 2028 Value Projection: US$ 6,229.9 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Devices ( Molecular Ultrasound Imaging, Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Nuclear Magnetic Resonance (NMR) Spectrometer, Hybrid Products ( Positron Emission Tomography - Computed Tomography (PET-CT), Positron Emission Tomography- Magnetic Resonance (PET-MR), Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT), Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)), Software Platforms ( On Premises Solutions, Cloud Based Solutions)
  • By Application: Cardiovascular, Neurology, Oncology, Respiratory, Gastrointestinal, Other Applications
  • By End user: Hospitals, Diagnostic Imaging Centers, Ambulatory Surgical Centers
Companies covered:

GE Healthcare, Bruker Corporation, Fujifilm Holdings Corp., Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems Corporation, United Imaging Healthcare Co., Ltd., Mediso Kft., Positron Corporation, Esaote SpA, Carestream Health, Mirada Medical Limited, and Hermes Medical Solutions

Growth Drivers:
  • Growing demand for molecular imaging techniques
  • High incidence of various chronic diseases
Restraints & Challenges:
  • High cost of imaging equipment

Figure 2.Global Molecular Imaging Market Share (%), By Product Type, 2021

Molecular Imaging  | Coherent Market Insights

Growing demand for molecular imaging techniques is anticipated to propel the global molecular imaging market growth over the forecast period.

Demand for molecular imaging techniques such as positron emission tomography (PET), computed tomography (CT), magnetic resonance (MR) imaging, and others have increased, as these techniques are widely used for the diagnosis and prognosis of cancer. This is expected to augment the growth of the global molecular imaging market over the forecast period. According to an article published in the Journal of Clinical Medicine of Kazakhstan, in July 2021, around 60 million of magnetic resonance imaging (MRI) scans are performed every year globally, in order to diagnose structural disorders in the human body without the use of ionizing radiation.

Global Molecular Imaging Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus or COVID-19 outbreak that started from Wuhan, China has spread across continents, affecting various industries globally. The supply of key materials has been severely disrupted due to forced quarantine and the lack of labor and raw materials. Regional warehouse operations are not smooth and the transportation of raw materials between regions cannot be carried out successfully. The shortage of raw materials and components has consequently affected the supply chain of the global molecular imaging equipment market. However, molecular imaging techniques such as positron emission tomography/computed tomography (PET/CT) used for the detection and management of the COVID-19 augmented the global molecular imaging market growth during the pandemic.

According to an article published in Seminars in Nuclear Medicine, a review journal in nuclear medicine, in July 2021, MRI showed excellent concordance with chest CT in visualizing typical features of COVID-19 pneumonia.

Global Molecular Imaging Market: Restraints

The high cost of imaging equipment such as MRI machines and CT scanners is a major factor which is expected to hinder the global molecular imaging equipment market growth. For instance, the price of a magnetic resonance imaging (MRI) device starts from US$ 150,000 and a high-end device costs over US$ 1 million.

Key Players

Major players operating in the global molecular imaging market include GE Healthcare, Bruker Corporation, Fujifilm Holdings Corp., Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems Corporation, United Imaging Healthcare Co., Ltd., Mediso Kft., Positron Corporation, Esaote SpA, Carestream Health, Mirada Medical Limited, and Hermes Medical Solutions.

Molecular imaging is an area of medical imaging that focuses on imaging molecules of medical concern in living patients. It is integrated advanced imaging technology with molecular and cellular biology. It is safe, noninvasive, and painless procedure that is used to diagnose and manage a wide range of diseases such as cardiovascular, neurology, oncology, respiratory, and gastrointestinal. Molecular imaging is field of nuclear medicine. It includes small amount of radioactive materials (radiopharmaceuticals) to diagnose and treat disease. Moreover, molecular imaging helps to physician to disease management and improve personalize patient care.

Market Dynamics

Molecular imaging has become a part of the standard care for various types of cancer. The use of imaging techniques in early cancer detection, treatment response, and new therapy development is steadily growing and has significantly impacted the clinical management of cancer. Thus, increasing awareness of the early diagnosis is likely to boost the demand for diagnostic products such as positron emission tomography (PET), single-photon emission computed tomography (SPECT), positron emission tomography-computed tomography (PET-CT), single-photon emission computed tomography-computed tomography (SPECT-CT), etc. This, in turn, is expected to drive the global molecular imaging market growth. Moreover, a surge in the adoption of technologically advanced products is expected to drive the market growth. For instance, in June 2021, a leading provider of diagnostic imaging systems Canon Medical Systems USA Inc. a leading provider of diagnostic imaging systems, deep Learning Reconstruction (DLR) technology and Advanced intelligent Clear-IQ Engine (AiCE), both used in Cartesion Prime Digital PET/CT system, received 510(k) clearance from the U.S. Food and Drugs Administration (FDA). The Cartesion Prime with AiCE help clinicians consistently and routinely produce high-quality images.

Key features of the study:

  • This report provides an in-depth analysis of the global molecular imaging market, market size (US$ Mn), and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global molecular imaging market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, strategies.
  • Key companies covered as a part of this study include GE Healthcare, Bruker Corporation, Fujifilm Holdings Corp., Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems Corporation, UNITED IMAGING HEALTHCARE CO., LTD., Mediso kft., Positron Corporation, ESAOTE S.P.A., Carestream Health, Mirada Medical Limited, and Hermes Medical Solutions
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global molecular imaging market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global molecular imaging market.

Detailed Segmentation:

  • Global Molecular Imaging Market, By Product Type :
    • Devices
      • Molecular Ultrasound Imaging
      • Positron Emission Tomography (PET)
      • Single Photon Emission Computed Tomography (SPECT)
      • Nuclear Magnetic Resonance (NMR) Spectrometer
      • Hybrid Products
        • Positron Emission Tomography- Computed Tomography (PET-CT)
        • Positron Emission Tomography- Magnetic Resonance (PET-MR)
        • Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT)
        • Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)
      • Software Platforms
        • On Premises Solutions
        • Cloud Based Solutions
  • Global Molecular Imaging Market, By Application:
    • Cardiovascular
    • Neurology
    • Oncology
    • Respiratory
    • Gastrointestinal
    • Other Applications
  • Global Molecular Imaging Market, By End User
    • Hospitals
    • Diagnostic Imaging Centers
    • Ambulatory Surgical Centers
  • Global Molecular Imaging Market, By Region:
    • North America
      • By Product Type
        • Devices
          • Molecular Ultrasound Imaging
          • Positron Emission Tomography (PET)
          • Single Photon Emission Computed Tomography (SPECT)
          • Nuclear Magnetic Resonance (NMR) Spectrometer
          • Hybrid Products
            • Positron Emission Tomography - Computed Tomography (PET-CT)
            • Positron Emission Tomography - Magnetic Resonance (PET-MR)
            • Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT)
            • Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)
          • Software Platforms
            • On Premises Solutions
            • Cloud Based Solutions
      • By Application:
        • Cardiovascular
        • Neurology
        • Oncology
        • Respiratory
        • Gastrointestinal
        • Other Applications
      • By End User
        • Hospitals
        • Diagnostic Imaging Centers
        • Ambulatory Surgical Centers
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Product Type
        • Devices
          • Molecular Ultrasound Imaging
          • Positron Emission Tomography (PET)
          • Single Photon Emission Computed Tomography (SPECT)
          • Nuclear Magnetic Resonance (NMR) Spectrometer
          • Hybrid Products
            • Positron Emission Tomography - Computed Tomography (PET-CT)
            • Positron Emission Tomography - Magnetic Resonance (PET-MR)
            • Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT)
            • Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)
          • Software Platforms
            • On Premises Solutions
            • Cloud Based Solutions
      • By Application:
        • Cardiovascular
        • Neurology
        • Oncology
        • Respiratory
        • Gastrointestinal
        • Other Applications
      • By End User
        • Hospitals
        • Diagnostic Imaging Centers
        • Ambulatory Surgical Centers
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product Type
        • Devices
          • Molecular Ultrasound Imaging
          • Positron Emission Tomography (PET)
          • Single Photon Emission Computed Tomography (SPECT)
          • Nuclear Magnetic Resonance (NMR) Spectrometer
          • Hybrid Products
            • Positron Emission Tomography - Computed Tomography (PET-CT)
            • Positron Emission Tomography - Magnetic Resonance (PET-MR)
            • Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT)
            • Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)
          • Software Platforms
            • On Premises Solutions
            • Cloud Based Solutions
      • By Application:
        • Cardiovascular
        • Neurology
        • Oncology
        • Respiratory
        • Gastrointestinal
        • Other Applications
      • By End User
        • Hospitals
        • Diagnostic Imaging Centers
        • Ambulatory Surgical Centers
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Devices
          • Molecular Ultrasound Imaging
          • Positron Emission Tomography (PET)
          • Single Photon Emission Computed Tomography (SPECT)
          • Nuclear Magnetic Resonance (NMR) Spectrometer
          • Hybrid Products
            • Positron Emission Tomography - Computed Tomography (PET-CT)
            • Positron Emission Tomography - Magnetic Resonance (PET-MR)
            • Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT)
            • Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)
          • Software Platforms
            • On Premises Solutions
            • Cloud Based Solutions
      • By Application:
        • Cardiovascular
        • Neurology
        • Oncology
        • Respiratory
        • Gastrointestinal
        • Other Applications
      • By End User
        • Hospitals
        • Diagnostic Imaging Centers
        • Ambulatory Surgical Centers
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type
        • Devices
          • Molecular Ultrasound Imaging
          • Positron Emission Tomography (PET)
          • Single Photon Emission Computed Tomography (SPECT)
          • Nuclear Magnetic Resonance (NMR) Spectrometer
          • Hybrid Products
            • Positron Emission Tomography - Computed Tomography (PET-CT)
            • Positron Emission Tomography - Magnetic Resonance (PET-MR)
            • Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT)
            • Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)
          • Software Platforms
            • On Premises Solutions
            • Cloud Based Solutions
      • By Application:
        • Cardiovascular
        • Neurology
        • Oncology
        • Respiratory
        • Gastrointestinal
        • Other Applications
      • By End User
        • Hospitals
        • Diagnostic Imaging Centers
        • Ambulatory Surgical Centers
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type
        • Devices
          • Molecular Ultrasound Imaging
          • Positron Emission Tomography (PET)
          • Single Photon Emission Computed Tomography (SPECT)
          • Nuclear Magnetic Resonance (NMR) Spectrometer
          • Hybrid Products
            • Positron Emission Tomography - Computed Tomography (PET-CT)
            • Positron Emission Tomography - Magnetic Resonance (PET-MR)
            • Single Photon Emission Computed Tomography - Computed Tomography (SPECT-CT)
            • Single Photon Emission Computed Tomography - Magnetic Resonance (SPECT-MR)
          • Software Platforms
            • On Premises Solutions
            • Cloud Based Solutions
      • By Application:
        • Cardiovascular
        • Neurology
        • Oncology
        • Respiratory
        • Gastrointestinal
        • Other Applications
      • By End User
        • Hospitals
        • Diagnostic Imaging Centers
        • Ambulatory Surgical Centers
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • GE Healthcare*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Bruker Corporation
    • Fujifilm Holdings Corp.
    • Siemens Healthineers
    • Koninklijke Philips N.V.
    • Canon Medical Systems Corporation
    • UNITED IMAGING HEALTHCARE CO., LTD.
    • Mediso kft.
    • Positron Corporation
    • ESAOTE S.P.A.
    • Carestream Health
    • Mirada Medical Limited
    • Hermes Medical Solutions

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global molecular imaging market is estimated to be valued at US$ 4,309.0 million in 2021 and is expected to exhibit a CAGR of 5.4% between 2021 and 2028.
Factors such as the increasing prevalence of chronic diseases such as cardiovascular, cancer, etc. are projected to boost the market growth over the forecast period.
Devices are expected to hold a major share in the market during the forecast period.
The major factor hampering the market growth is the higher cost of devices.
Major players operating in the market include GE Healthcare, Bruker Corporation, Fujifilm Holdings Corp., Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems Corporation, United Imaging Healthcare Co., Ltd., Mediso Kft., Positron Corporation, Esaote SpA, Carestream Health, Mirada Medical Limited, and Hermes Medical Solutions.

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