Neuroimaging Market Growth Accelerated by Adoption of Novel Imaging Techniques

 


Neuroimaging is a technique used to capture images of the brain and the central nervous system with the help of techniques such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), and functional magnetic resonance imaging (fMRI). Neuroimaging techniques play a vital role in the diagnosis and treatment of various neurological disorders such as Parkinson's disease, Alzheimer's disease, stroke, and traumatic brain injuries.

The global Neuroimaging Market is estimated to be valued at US$ 6.3 billion in 2023 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 to 2028, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The adoption of novel neuroimaging techniques such as high-field MRI, ultra-high-field MRI, functional MRI (fMRI), positron emission tomography scanners (PET), multi-modality imaging systems integrating CT and MRI with PET scanner, and functional near-infrared spectroscopy (fNIRS) have accelerated market growth over the forecast period. High-field MRI and ultra-high-field MRI systems provide high-resolution images that help clinicians efficiently diagnose various neurological conditions. The integration of PET and CT/MRI modalities provides both anatomical and functional information, thereby better understanding of disease progression. With increasing applications of neuroimaging in pre-clinical drug development studies and the introduction of portable fNIRS devices, the neuroimaging market is expected to witness significant growth during the forecast period.

Segment Analysis

The Global Neuroimaging Market Size is segmented based on product type, application, end users, and geography. By product type, the MRI systems segment dominates the market as it provides high-quality images of the brain and spinal cord and is extensively used for diagnosing brain disorders and neurological complications. It allows doctors to accurately diagnose brain tumors, stroke, epilepsy, head injuries and other neurological conditions.

By application, the neurological segment holds the largest share of the market owing to the high usage of neuroimaging systems like MRI and CT for diagnosing neurological conditions. Neuroimaging helps in early detection, monitoring progression, evaluating treatment impact of conditions like Parkinson's disease, Alzheimer's disease, epilepsy and stroke.

Key Takeaways

The global neuroimaging market is expected to witness high growth over the forecast period of 2024 to 2030.

Regional analysis: North America currently holds the largest share of the global neuroimaging market due to factors like rising neurological disorders incidence, advanced healthcare infrastructure and availability of reimbursement. The Asia Pacific region is witnessing highest growth and is projected to grow at over 20% CAGR during the forecast period driven by growing geriatric population, improving healthcare spending and increasing awareness.

Key players: Key players operating in the neuroimaging market are General Electric Company, Siemens Healthineers, Canon Medical Systems Corporation, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Aspect Imaging, Bruker, Hitachi Ltd, Esaote SpA and Mindray Medical International. General Electric dominates the market with its wide MRI product portfolio and global presence. Other major players are focusing on developing next generation multi-modality systems and expanding into emerging Asian markets.

 

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