How Has the Brain Imaging Modalities Market Evolved Historically and What is its Current Size?
The brain imaging modalities market has seen considerable growth due to a variety of factors.
• The market size for brain imaging modalities has seen solid growth in recent years. The market is projected to increase from $13.07 billion in 2024 to $13.9 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%.
The surge during the historical period can be ascribed to factors such as a rise in the occurrences of neurological disorders, expansion in the volume of brain imaging modalities, elevation in the number of traffic accidents propelling market growth, an uptick in the revenue of the brain imaging market, and an increase in the usage of brain monitoring in clinical trials.
What is the Forecasted Market Size and CAGR for the Brain Imaging Modalities Market?
The brain imaging modalities market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for brain imaging modalities is predicted to witness substantial growth in the coming years. The value is projected to escalate to $17.54 billion by 2029, with a 6.0% compound annual growth rate (CAGR). This predicted growth within the forecasted period can be linked to several factors: increased understanding of neurological disorders, heightened demand for ventilators, the growing need for non-invasive and minimally invasive devices, a rise in traffic accidents, and an increasing prevalence of neurological disorders and traumatic brain injuries (TBI). The main trends for this period include the incorporation of artificial intelligence (AI), growth of portable and wearable imaging devices, multi-modal imaging strategies, a focus on neurodegenerative diseases, and the digitalization as well as decentralized trials.
What Key Factors and Trends Are Driving The Growth Brain Imaging Modalities Market?
The surge in neurological disorders is anticipated to fuel the expansion of the brain imaging modality market in the future. Neurological disorders are medical issues that impact the nervous system, encompassing the brain, spinal cord, and nerves, leading to difficulties with motion, sensation, cognition, or behavior. The rise in these disorders can be attributed to factors like an aging demographic, enhanced diagnosis, persistent diseases, genetic influences, improved diagnostics, environmental shifts, and lifestyle determinants. Brain imaging modalities are implemented to diagnose and supervise neurological disorders by offering comprehensive images of brain structure and functionality, thereby assisting in effective treatment strategies. For example, the European Brain Council, a non-profit organization based in Belgium, stated in April 2022 that 10.5 million individuals in Europe are coping with dementia. The estimates also suggest that by 2050, this figure will rise to 18.7 million. Thus, the escalating prevalence of neurological disorders is propelling the growth of the brain imaging modality market.
What Are The Market Segments In The Brain Imaging Modalities Market?
The brain imaging modalitiesmarket covered in this report is segmented –
1) By Product: Devices, Accessories, Usability
2) By Imaging Type: Computed Tomography (CT), Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI), Single Photon Emission Computed Tomography (SPECT)
3) By Modalities: Stand-Alone Functional Brain Imaging Systems, Portable Functional Brain Imaging Systems
4) By Patient Type: Adults, Pediatrics, Infants
5) By End-User: Hospitals, Diagnostic Centers, Research Institutes
Subsegments:
1) By Devices: Magnetic Resonance Imaging (MRI) Machines, Computed Tomography (CT) Scanners, Positron Emission Tomography (PET) Scanners, Electroencephalography (EEG) Devices, Functional MRI (fMRI) Systems, Single Photon Emission Computed Tomography (SPECT) Scanners
2) By Accessories: Contrast Agents, MRI Coils, EEG Electrodes, Image Processing Software, Patient Monitoring Systems
3) By Usability: Portable Brain Imaging Devices, Stationary Brain Imaging Systems, Point-of-Care Brain Imaging Solutions, Research-Oriented Brain Imaging Equipment
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Which Emerging Market Trends Are Altering The Brain Imaging Modalities Industry?
Key players in the brain imaging modalities market are prioritizing the introduction of cutting-edge technologies, such as neuroimaging technologies, to secure a competitive edge in the market. Neuroimaging technologies are sophisticated medical instruments that capture intricate images of the brain's anatomy and functionality. For instance, Koninklijke Philips N.V., a tech company based in the Netherlands, collaborated with SyntheticMR, a software company from Sweden, in February 2024. The collaboration resulted in the release of Smart Quant Neuro 3D, an innovative solution offering automated 3D quantification of neuroimaging data, instantaneous visualization of brain structures, and artificial intelligence integration for improved diagnosis precision. This advanced solution aims to simplify workflows and cut down on image analysis time, providing benefits to healthcare professionals and patients.
Who Are the Key Players In The Brain Imaging Modalities Market?
Major companies operating in the brain imaging modalities market are:
• Hitachi Ltd.
• Siemens AG
• Toshiba Corporation
• FUJIFILM Corporation
• Koninklijke Philips N.V
• Stryker Corporation
• GE HealthCare Technologies Inc.
• Hologic Inc.
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
• Shimadzu Corporation
• Canon Medical Systems Corporation
• Neusoft Corporation
• Planmed Oy
• Agfa-Gevaert N.V.
• Carestream Health
• Brainlab AG
• Esaote SpA
• Ziehm Imaging GmbH
• EOS imaging
• NeuroLogica Corp.
• Swissray International Inc.
• Xoran Technologies LLC.
• Allengers Medical Systems Ltd.
• Konica Minolta Healthcare Americas Inc.
• Hi-Tech Medical Imaging
What Are The Regional Insights Into The Brain Imaging Modalities Market?
North America was the largest region in the brain imaging modalities market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the brain imaging modalities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
