The global brain imaging and neuroimaging market is projected to experience robust growth, with an anticipated average Compound Annual Growth Rate (CAGR) of 5.1% between 2023 and 2033. According to recent market analysis, the market is expected to reach a substantial market share of US$ 22.41 billion by 2033, compared to US$ 13.69 billion in 2023.
Several factors contribute to this projected growth, including the escalating prevalence of brain-related disorders and the expansion of healthcare facilities dedicated to addressing these issues. The rise in the global geriatric population is also a significant driver, as age-related neurological diseases affect not only seniors but also younger demographics. Additionally, the prevalence of traumatic brain injuries and the increased use of invasive devices have amplified the demand for brain imaging and neuroimaging solutions.
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The growing awareness of brain cancer and other neurological conditions, coupled with advancements in healthcare infrastructure, is prompting individuals to seek medical attention more readily. Healthcare facilities are increasingly integrating advanced brain imaging technologies into their diagnostic procedures, enhancing both treatment outcomes and patient care.
Emerging economies such as China and India are playing a pivotal role in propelling market growth. These countries are investing in healthcare infrastructure, thereby fostering the adoption of brain imaging and neuroimaging technologies.
Key imaging techniques driving market growth include functional magnetic resonance imaging (fMRI), computerized tomography (CT), positron emission tomography (PET), and functional near-infrared spectroscopy (fNIRS). These technologies facilitate enhanced visualization and enable healthcare professionals to identify and address a wide range of neurological conditions, from strokes to tumors and beyond.
As the global demand for advanced brain imaging solutions continues to rise, stakeholders in the brain imaging and neuroimaging market are poised to capitalize on emerging opportunities and drive innovation in the field.
Key Points:
- The United States market leads the North American brain imaging and neuroimaging market in terms of market share in North America. The United States held a market share of 33.8% in 2022. The factors attributed to the growing brain cancer cases along with the increased awareness around brain health. North America held a market share of 37.8% in 2022.
- The German brain imaging and neuroimaging market held a market share of 8.8% in 2022. The market growth is caused by an increased healthcare budget and already existing advanced public health facilities around cancer research and tumor detection. The European region held a market share of 32.2% in 2022.
- The Indian market thrives at an average CAGR of 5.1% between 2023 and 2033. The growth is attributed to the government building their neuro healthcare facilities.
- The Chinese market also thrives at a CAGR of 6.3% during the forecast period.
- Based on imaging type, the computed tomography industry segment leads the market as it held a market share of 28.70% in 2022.
- Based on end-user type, the hospital’s segment strives as it accumulated a revenue share of 43.20% in the global market in 2022.
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Competitive Landscape:
The key suppliers focus on vivid imaging, better visualization, and cheaper alternative. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments:
- While showcasing the AI-powered integrated diagnostic approach, Philips Healthcare has also showcased the interoperable solutions for smart imaging systems and informatics solutions to connect teams.
- Toshiba Medical Systems has expanded the Neuro MR capabilities with advanced gradient offering.
Key Players:
- Varian Medical Systems
- General Electric Company
- Siemens AG
- Philips Healthcare
- Toshiba Medical Systems
- Hitachi Medical Systems
- Esaote SpA
- Sanrad Medical Systems Pvt. Ltd
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Key Segments Covered:
By Imaging Type:
- Functional Magnetic Resonance Imaging (fMRI)
- Computed Tomography (CT)
- Positron Emission Tomography (PET)
- Electroencephalography (EEG)
- Magnetoencephalography (MEG)
- Near Infrared Spectroscopy (NIRS)
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics and Diagnostic Centers
By Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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