Molecular Imaging Market Size To Reach $11.44 Billion By 2030

Molecular Imaging Market Growth & Trends

The global molecular imaging market size is anticipated to reach USD 11.44 billion by 2030, growing at a CAGR of 4.52% from 2024 to 2030, according to a new report by Grand View Research, Inc. The major factors contributing to market growth include technological advancements, increase in prevalence of cancer, and rising investment in R&D. For instance, according to the International Agency for Research on Cancer, approximately 19,976,499 new cancer cases and 9,743,832 cancer-related deaths were reported globally in 2022.

The growing prevalence of chronic disorders such as cancer, cardiovascular diseases, and neurological conditions necessitates effective diagnostic tools, which are expected to significantly contribute to the growth of the molecular imaging market. Molecular imaging devices such as PET (Positron Emission Tomography), SPECT (Single Photon Emission Computed Tomography), and Nuclear Magnetic Resonance (NMR) Spectrometer are particularly efficient in this regard. These advanced technologies provide detailed insights into the metabolic processes, molecular activities, and structural changes associated with various diseases. They enable healthcare professionals to visualize and assess the extent and characteristics of tumors, cardiac function, and neurological abnormalities with high precision and accuracy.

Moreover, molecular imaging facilitates early detection of diseases, even at subclinical stages, allowing for timely intervention and personalized treatment planning. This proactive approach not only improves patient outcomes but also reduces healthcare costs associated with advanced disease stages and complications.

Strategic initiatives undertaken by major market players, including mergers and acquisitions, product launches, regulatory approvals, partnerships, collaborations, and research and development (R&D) activities, play a crucial role in driving the growth of the molecular imaging market. For instance, in January 2024, Bruker Corporation successfully installed a state-of-the-art 1.2 Gigahertz (GHz) NMR system at The Ohio State University's National Gateway Ultrahigh Field NMR Center. This GHz-class NMR system represents a significant advancement in nuclear magnetic resonance (NMR) spectroscopy, aiming to revolutionize research in life sciences and materials science.

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Molecular Imaging Market Report Highlights

• Based on the modality segment, the Single Photon Emission Computed Tomography (SPECT) segment dominated by capturing a share of 43.8% in 2023

• The Nuclear Magnetic Resonance (NMR) Spectrometer segment is anticipated to grow at the fastest CAGR from 2024 to 2030

• Based on application, the oncology segment held the largest market share in the application segment by capturing a share of 33.7% in 2023.

• Based on end use, the hospital segment held a majority share of the market in 2023.

• Diagnostic imaging centers segment is expected to grow at the fastest rate from 2024 to 2030

• North America dominated the market with a share of 41.7% in 2023.

Molecular Imaging Market Segmentation

Grand View Research has segmented the global molecular imaging market, based on the modality, application, end-use, and regions:

Molecular Imaging Modality Outlook (Revenue, USD Million, 2018 - 2030)

• Molecular Ultrasound Imaging

• Positron Emission Tomography (PET)

• Single Photon Emission Computed Tomography (SPECT)

• Nuclear Magnetic Resonance (NMR) Spectrometer

• Others

Molecular Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiovascular

• Neurology

• Oncology

• Respiratory

• Gastrointestinal

Molecular Imaging End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Research Institutes

Molecular Imaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Molecular Imaging Market

• Bruker

• GE HealthCare

• Siemens Healthineers

• Koninklijke Philips N.V.

• Canon Medical Systems Corporation

• Mediso, Cubresa Inc.

• Shimadzu Corporation

• United Imaging Healthcare Co

• Positron Corporation