Global Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems Market – Industry Trends and Forecast to 2030

Global Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) By Phase (Clinical and Pre-clinical), Product (Traditional Positron Emission Tomography (PET)- Magnetic Resonance Imaging (MRI) Systems and Helium-Free Positron Emission Tomography (PET)- Magnetic Resonance Imaging (MRI) System), End Use (Hospitals, Diagnostic Imaging Centres, and Others) - Industry Trends and Forecast to 2030.

Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems Market Analysis and Size

Positron emission tomography (PET) - magnetic resonance imaging (MRI) systems are medical devices based upon hybrid medical imaging technology used to detect early signs of cancer, heart disease and brain disorders. Positron emission tomography (PET) - magnetic resonance imaging (MRI) systems incorporate soft tissue morphological imaging technology with position emission tomography functional imaging technology. Upsurge in the prevalence of neurological disorders globally is one of the major factors fostering market growth. Rising focus on healthcare technological advancements in providing high-resolution and 3-dimensional imaging coupled with increasing incidences of cancer is another market growth determinant. Rising research and development proficiencies and increasing personal disposable income will further generate lucrative market growth opportunities.             

Data Bridge Market Research analyses that the brain position emission tomography (PET) - Magnetic Resonance Imaging (MRI) systems market which was USD 168.9 Million in 2022, is expected to USD 356.9 Million by 2030, and is expected to undergo a CAGR of 4.80% during the forecast period 2023-2030. “Traditional Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems” dominates the product segment of the global brain positron emission tomography (PET) – magnetic resonance imaging (MRI) systems market owing to the rising brain disorders among the population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems Market Scope and Segmentation

Market Definition

A radiotracer, a small amount of radioactive material used in brain PET, allows doctors to see the brain's metabolic and biochemical activities. Various brain problems, including tumors, strokes, multiple sclerosis, traumatic brain injuries, and neurodegenerative diseases, can be diagnosed and monitored with MRI scans. Both brain PET and MRI systems are potent instruments that offer complimentary details about the anatomy and function of the brain, enabling medical professionals to comprehend and diagnose various neurological diseases more accurately.

Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems Market Dynamics

Drivers

• Increasing Prevalence of Neurological Disorders

Due to causes including aging populations and changing lifestyles, neurological disorders like Alzheimer’s disease, Parkinson’s disease, stroke, brain tumors, and epilepsy are becoming increasingly common. The demand for cutting-edge imaging techniques like PET and MRI for early detection, precise diagnosis, and disease monitoring has increased due to the rising prevalence of these disorders. Thus increase in the incidence rates of neuro diseases is acting as a driver for the market growth.

• Rising Technological Advancements

PET and MRI systems' performance, resolution, and speed have considerably increased thanks to ongoing developments in imaging technology. These developments include better detectors, stronger magnets, quicker image acquisition, and enhanced image reconstruction algorithms. Additionally, hybrid PET/MRI systems have been developed, enabling the simultaneous gathering of structural and functional data.

• Improved Diagnostics and Personalized Medicine

A precise diagnosis and effective treatment planning are made possible by the detailed anatomical and functional information about the brain provided by PET and MRI. These imaging techniques can spot minute alterations in brain anatomy and anomalies in blood flow, metabolism, and neuronal activity. Using this knowledge, treatment plans can be customized for certain patients based on their unique brain traits, supporting personalized medicine.

Opportunities

• Increasing R and D Activities

Research has concentrated on improving image quality by developing more sensitive detectors, optimizing imaging protocol, and reconstruction algorithms. For MRI and PET, researchers are constantly investigating and creating new radiotracers. To shed light on a variety of neurological diseases, radiotracers are made to target particular biological functions or chemicals in the brain specifically. Higher resolution, an enhanced signal-to-noise ratio, and more excellent overall image quality are the results of this, enabling more accurate visualization of brain structures and disorders.

• Rising Focus on Healthcare Infrastructure

As the healthcare infrastructure develops, an increased emphasis is being placed on purchasing cutting-edge medical equipment, such as PET and MRI scanners. These imaging systems are more likely to be purchased and installed by hospitals, clinics, and medical facilities in order to improve their diagnostic capabilities and deliver comprehensive healthcare services. The availability of PET and MRI equipment has increased due to the expansion of the healthcare infrastructure, including the construction of hospitals in both urban and rural locations. Patients no longer need to travel great distances for imaging services because they have improved access to this diagnostic equipment.

• Growing Patient Awareness

Patients are learning more about the capabilities and uses of PET and MRI systems as public knowledge of these imaging modalities increases. Patients are becoming increasingly aware of the valuable information that PET and MRI scans can provide about the brain's structure, function, and pathology. This knowledge enables patients to actively participate in their healthcare decisions, have informed conversations with healthcare professionals, and ask pertinent questions.

Restrains/Challenges

• Strict Regulations for the Approval of Devices

Different nations and areas have different rules and regulations governing brain MRI and PET imaging technologies. The approval, clearance, and regulation of PET and MRI systems are closely supervised by regulatory agencies, such as the U.S. Food and Drug Administration (FDA) in the United States or the European Medicines Agency (EMA) in the European Union. Manufacturers, healthcare professionals, and end users must abide by these bodies' standards, regulations, and recommendations. Before being put on the market and used for clinical purposes, PET and MRI systems normally undergo a rigorous approval and certification process. Device makers must show that their products meet the quality, performance, and safety requirements established by regulatory bodies. Inspections, testing, and pre-market reviews may be a part of the approval procedure.

• Limited Accessibility

Despite increased usage and accessibility of PET and MRI equipment, some isolated or regional areas may still have restricted access. In some places, the infrastructure necessary to support various imaging modalities and the availability of trained personnel may need to be improved. Due to this, patients, especially those in impoverished areas, have varying levels of access to brain PET and MRI scans.  Thus, limited accessibility in certain regions may hamper the market growth.

• Lack of Skilled Professionals

MRI and PET equipment must be operated safely and effectively, which requires highly skilled medical personnel. To gather, interpret, and correctly analyze imaging data, radiologists, technicians, and doctors must receive specialized training. The availability of such specialised training programs and the requirement for ongoing education might be a barrier, especially in areas with constrained training resources.

• High Cost of Positron Emission Tomography (PET) and Magnetic Resonance Imaging (MRI)

Imaging devices like MRI and PET are complex and expensive. Particularly for smaller healthcare facilities or those in environments with limited resources, the high initial cost of purchasing and implementing these systems can be a substantial barrier. Healthcare providers may also need financial assistance as a result of the continuing maintenance, operation, and upgrade expenditures, which would limit their capacity to invest in these systems.

This global brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.

Global Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems Market Scope

The global brain positron emission tomography (PET)- magnetic resonance imaging (MRI) systems market is segmented on the basis of phase, product, and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with valuable market overviews and market insights to help them make strategic decisions to identify core market applications.

Phase

•  Clinical
• Pre-clinical

Product

• Traditional Positron Emission Tomography (PET)- Magnetic Resonance Imaging (MRI) Systems
• Helium-Free Positron Emission Tomography (PET)- Magnetic Resonance Imaging (MRI) System

End use

• Hospitals
• Diagnostic Imaging Centres
• Others

Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems Market Regional Analysis/Insights

The market of brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems is analyzed. Market size insights and trends are provided by country, phase, product, and end-use as referenced above.

The countries covered in the brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market report are the U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America

North America dominates the brain positron emission tomography (PET) magnetic resonance imaging (MRI) systems market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is because of the increasing adoption by research centres, growth and expansion of healthcare industry in this region and growing prevalence of cancer.

Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 due to the rising prevalence of neurological disorders.

The country section of the brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The global brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market. The data is available for historic period 2015 to 2020.

Competitive Landscape and Global Brain Positron Emission Tomography (PET) - Magnetic Resonance Imaging (MRI) Systems Market Share Analysis

The global brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to global brain positron emission tomography (PET) - magnetic resonance imaging (MRI) systems market.

Some of the major players operating in the global brain Positron emission tomography (PET) – magnetic resonance imaging (MRI) systems market are:

• Hitachi, Ltd. (Japan)
• Seimens Healthcare GmbH (Germany)
• CANON MEDICAL SYSTEMS CORPORATION (Japan)
• GENERAL ELECTRIC COMPANY (U.S.)
• Bruker (U.S.)
• FONAR Corp. (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• Aspect Imaging Ltd. (U.S.)
• AURORA HEALTHCARE (U.S.)
• Neusoft Corporation (China)
• TOSHIBA CORPORATION (Japan)
• Sanrad (India)
• ONEX Corporation (Canada)
• Hologic, Inc. (U.S.)
• FUJIFILMS Corporation (Japan)
• ESAOTE SPA (Italy)
• Magritek (Germany)
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
• Quality Electrodynamics, LLC (U.S.)
• Shenzhen Anke High- Tech Co. Ltd. (China)