Global Hybrid Imaging Market by Application (Cardiology, Oncology), by End Use (Diagnostic Imaging Centers, Hospitals), by Type (SPET/CT, PET/CT) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global hybrid imaging market was valued at USD 6.9 million in 2018. It is expected to grow at a CAGR 4.5% during the forecast period. The market will be driven by government initiatives to develop multimodal and hybrid diagnostic imaging devices. European Cooperation in Science and Technology, a government-funded agency that assists in the creation of research networks referred as COST actions, has launched a program called Correlated Multimodal Imaging in Life Sciences. This initiative promotes Correlated Multimodal Imaging in Preclinical and Biological Research. This COST action will be in place for four years and will encourage multimodal imaging technology adoption.

In recent years, market growth has been steady as a large number of hospitals, research centres, and institutes have installed hybrid imaging devices to evaluate their potential in different applications. The Alphenix 4D CT machine was installed by Canon Medical Systems at West Virginia University's Heart and Vascular Institute in July 2019. This machine was installed by Canon Medical Systems to upgrade the hospital's interventional radiology equipment, which can be used for diagnosis and treatment of heart disease, cancer, and vascular disease. This device also features multiple diagnostic modalities and clinical applications that allow for the delivery of holistic and optimized patient information to healthcare professionals. In August 2019, Kawasaki Medical University in Japan, installed the E-Class E-SPECT6/CT to perform preclinical imaging.

In recent years, hybrid imaging has seen a significant rise in use in diagnosing diseases in many medical disciplines, including neurology and cardiology. This has led to a growing need for professionals who can capture and understand the data from these devices. Multimodal imaging training is offered by a variety of research centers and institutes. With the support of European Society for Hybrid, Molecular and Translational Imaging and European Society of Radiology, the European School of Radiology has created the Exchange Programme for Hybrid Imaging Fellowship. This program will offer modular training in PET/CT, PET/CT and PET/MR, as well as learning about radiochemistry and data processing. These training programs will expose trainees to many aspects of multimodal imaging.

Due to the complexity of system integration, multimodal imaging devices face significant technological challenges. A conventional PET system needs PMTs to detect scintillation light. PMTs are also sensitive to magnetic fields. A standard PET cannot be used inside an MRI machine. To avoid this problem, PET and MR must be separated via an active shield to protect PMTs from the magnetic fields. Then, integrated device can then be used for medical imaging. This could be a deterrent for multimodal/hybrid market growth.

Type Insights

The market can be divided into three types: PET/CT systems and SPET/CT system, PET/MR, OCT/Fundus, and others. The largest market share was held by PET/CT systems in 2018, largely due to its increasing use in oncology. Its use is also expanding in the fields of neurology and cardiology. The segment growth is also being supported by the increasing use of PET/CT hybrid imaging devices over standalone PET. The U.S., for example, has approximately four PET/CT units per one million people, while Japan has about two.

The SPET/CT market is expected to grow the fastest during the forecast period. The nuclear medicine were used extensively by standalone SPET devices. However, the data captured by the standalone device wasn't sufficient to give anatomical localizations of the abnormalities. The combination of SPECT and CT allows for a better diagnosis. It helps to determine the cause of the disease. This device is used primarily for diagnosing cardiac diseases.

In the next few years, OCT/Fundus Imaging System will also grow significantly. This multimodal imaging device can be used for both clinical and preclinical procedures in the field. Fundus Camera Increases the visibility of retinal pigmentation, retinal vasculature and nerve fiber arrangement. OCT, on the other hand, allows for the capture of a clearly defined image that measures the inner and outer thicknesses of the retina. This aids in diagnosing ophthalmic diseases.

Applications Insights

The market for hybrid imaging systems is divided by application into oncology and ophthalmology and cardiology and brain and neurology. Due to the increasing number of cases of cancer, oncology accounted for the largest market share in 2018. According to the National Cancer Institute, there were approximately 1,735,350 new cases of cancer in the United States in 2018. There are many imaging methods that can be used to diagnose, stage, re-staging and monitor cancer. While standalone devices like CT, and MRI can provide anatomical and functional details of the cancer, they are not able to give insight into tumor morphology. To ensure accurate diagnosis, hybrid imaging devices like PET/CT/SPET/CT and PET/MR can be used effectively in oncology. This will boost the segment growth over the forecast period.

Due to the increasing prevalence of coronary artery disease and the adoption of multimodal imaging to diagnose, the cardiology segment will grow the fastest during the forecast period. These devices are used a lot in cardiology, and they include computed tomography coronary imaging (CTCA) with PET or SPECT. These multimodal devices are used to diagnose coronary artery disease. They accurately visualize coronary atherosclerotic lesion and their hemodynamic consequences. The future hybrid imaging devices that can diagnose cardiac diseases include CTCA, PET/MRI, MRI, and PET/MRI. They are expected to be the driving force in the segment over the forecast period.

Through 2026, the brain and neurology market is expected to expand at a rapid pace. Dual modality imaging devices like PET/MRI can be used to detect neurological disorders, such as epilepsy, dementia, and psychiatric disorders. The combined modality device can produce soft tissue contrast in brain tissue without overexposure to radiation, which aids in the diagnosis of neurological disorders.

End-use Insights

The multimodal imaging market can be divided into three segments based on its end use: hospitals, diagnostic centers and others. Other segments include research centers, academies, and others. The largest market share was held by hospitals in 2018, primarily due to the increasing use of multimodal imaging equipment in hospitals. Segment growth will also be boosted by the availability of qualified medical professionals who can operate these advanced devices.

The fastest growth rate for diagnostic centers is expected during the forecast period. There is a growing demand for diagnostic centers that can diagnose various diseases such as oncology, cardiology and neurology. To meet increasing demand for diagnosis, professionals and medical practitioners are creating their own diagnostic centers. This has led to the adoption of hybrid imaging equipment in these centers.

Multimodal imaging devices are often installed by research centers and academies to teach medical professionals how to use them and conduct preclinical research. Huntsman Cancer Institute purchased the nanoScan PET/MRI3T from Mediso in September 2018 to improve its cancer imaging techniques. The institute hopes to be able to identify a variety of rodent tumors using this device. This will allow them to test new cancer treatments with clearly defined images.

Regional Insights

In 2018, North America accounted for 24.0% in the global hybrid imaging system market. Market growth is expected to be boosted by the rising incidence of cardiovascular disease and cancer in North America. This market is expected to grow due to increased awareness and training programs. Radiology residents in the United States must complete one year of fellowship to meet the American Board of Radiology eligibility criteria. Residents must be certified in radiology. This includes radiopharmaceuticals use, quality control, and nuclear imaging. These growing initiatives are expected boost North American market.

Europe held the second largest market share in hybrid imaging. The market will be driven by Europe's growing focus on multimodal imaging. The European Society for Hybrid, Molecular and Translational Imaging? (ESHI??). The European Society for Hybrid, Molecular and Translational Imaging (ESHI??) is a non-profit organisation that was established in Europe to promote and coordinate professional activities in the field hybrid imaging. This organization organizes educational and training programs for doctors, technologists, physicians, and other professionals in the field.

Asia Pacific is projected to grow at the fastest rate during the forecast period. Market growth will be driven by the increasing use of hybrid devices like PET/CT in radiology departments throughout the region. Global market players continue to develop advanced software for multimodal imaging equipment in the region. Syngo.via, by Siemens Healthineers, incorporates several technologies, such as ALPHA Technology and Pre-fetching. It also includes Findings Navigator which allows you to convert data from multimodality imaging devices like PET/CT or SPEC/CT into concise reports.

Hybrid Imaging Market Share insights

GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers and CANON MEDICAL SYSTEMS Co. are some of the leading players in this market. In alliance with companies and suppliers, these players are developing multimodal imaging devices to aid preclinical research. These companies also exhibit their products at medical trade shows and conferences in an effort to expand their product reach.

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional, or country level and also analyzes industry trends for each sub-segment from 2015 to 2026. Grand View Research has divided the hybrid imaging market report by type, application, end-use, and geography for this study.

• Type Outlook (Volume and Units; Revenue, USD million, 2015-2026)

  • PET/CT systems

  • SPET/CT Systems

  • PET/MR systems

  • OCT/Fundus Imaging System

  • Other

• Application Outlook (Revenue USD Million, 2015-2026)

  • Oncology

  • Ophthalmology

  • Cardiology

  • Brain & Neurology

  • Other

• End-use Outlook (Revenue USD Million, 2015-2026)

  • Hospitals

  • Diagnostic Imaging Centers

  • Other

• Regional Outlook (Revenue USD Million, 2015-2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

    • Netherlands

    • Switzerland

    • Turkey

    • Poland

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

    • Indonesia

    • Taiwan

    • Hong Kong

    • Philippines

    • Malaysia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Chile

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Iran

Up Market Research published a new report titled “Hybrid Imaging Market research report which is segmented by Application (Cardiology, Oncology), by End Use (Diagnostic Imaging Centers, Hospitals), by Type (SPET/CT, PET/CT), By Players/Companies these companies are showcasing their products at various conferences and medical trade shows, in order to increase their product reach, in alliance with suppliers and companies In addition, GE Healthcare; Koninklijke Philips NV; Siemens Healthineers; CANON MEDICAL SYSTEMS CORPORATION; Bruker; Mediso Ltd; MILabs BV; MR Solutions; TriFoil Imaging; PerkinElmer Inc; FUJIFILM VisualSonics Inc; and Cubresa Inc These players are focusing on developing multimodal imaging devices for preclinical research”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Hybrid Imaging Market Report Segments:

The market is segmented by Application (Cardiology, Oncology), by End Use (Diagnostic Imaging Centers, Hospitals), by Type (SPET/CT, PET/CT).

Hybrid Imaging Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Hybrid Imaging Market

Overview of the regional outlook of the Hybrid Imaging Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Hybrid Imaging Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Hybrid Imaging Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Cardiology

                2. Oncology

                1. Diagnostic Imaging Centers

                2. Hospitals

                1. SPET/CT

                2. PET/CT

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Hybrid Imaging Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
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Reasons to Purchase the Hybrid Imaging Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.