The Global Molecular imaging Market, by Technology (Gamma Camera, SPECT, PET, Magnetic Resonance Spectroscopy, Optical Imaging, and Molecular Ultrasound Imaging), by Application (Cancer, Heart Disease, Brain Disorder, Gastrointestinal Disorder, Lung Disorder, Bone Disorder, and Others), by End User (Hospital, Diagnostic Imaging Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3.8 billion in 2017, and is projected to exhibit a CAGR of 8.1% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Defining disease processes based on their molecular and cellular changes and advances in genomics offer promise for earlier disease detection and molecular prevention in some cases. The field of molecular imaging is adopting these advances and is using various technologies to study disease states and physiology. For instance, optical methods, such as variations of fluorescence imaging, can resolve tissue microstructures or target specific cells using molecular probes. Mass spectrometry offers a new modality for molecular imaging in image-guided surgery by providing detailed information of the chemical makeup of surgical tissue without the need for molecular probes.
Molecular imaging is generally used to improve the diagnosis and treatment of lung cancer. In breast cancer, molecular imaging is used to minimize the removal of axillary lymph nodes by determining which nodes are most likely to contain cancer cells. For many gastrointestinal cancers, PET-CT, a molecular imaging technology, is able to identify cancer invasion in the body and assess patient response to chemotherapy. It is also useful in colorectal cancer diagnosis and treatment by providing useful information that directly affects treatment options.
Browse 27 Market Data Tables and 31 Figures spread through 180 Pages and in-depth TOC on “Molecular Imaging Market, by Technology (Gamma Camera, SPECT, PET, Magnetic Resonance Spectroscopy, Optical Imaging, and Molecular Ultrasound Imaging), by Application (Cancer, Heart Disease, Brain Disorder, Gastrointestinal Disorder, Lung Disorder, Bone Disorder, and Others), by End User (Hospital, Diagnostic Imaging Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
Manufacturers are focused on research and development to integrate advanced medical technologies for in vitro diagnosis. For instance, in 2014, Philips Healthcare received the U.S. FDA approval for spectral imaging system (IQon Spectral CT). The IQon Spectral CT is a leading, new, high standard for medical imaging. As per the study conducted by Radiological Society of North America, in 2013, Philips IQon Spectral CT system exhibited enhanced diagnosis in up to 70% cases as compared to conventional imaging methods.
With rapid technological advancements, targeted therapy, presymptomatic detection, and personalized medicine are possible in future with the use multimodal molecular imaging. Moreover, researchers are using molecular imaging to identify the strategies for developing new drugs and to design clinical trials to test their effectiveness. Information provided by molecular imaging technologies has the potential to accelerate the drug development and approval process by making it less expensive and more effective.
Key Takeaways of the Molecular Imaging Market:
The global molecular imaging market is expected to expand at a CAGR of 8.1% during the forecast period (2018–2026), owing to increasing demand for early disease detection coupled with rising prevalence of cancer and other chronic diseases.
Among technology, the SPECT segment is expected to generate significant revenue in 2018, owing to advanced radionuclide molecular imaging techniques that are able to evaluate biochemical changes and levels of molecular targets within a living subject.
Major players operating in the global molecular imaging market include Carestream Health, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Ltd, Hologic, Inc., Siemens AG, Philips Healthcare, Samsung Medison, Shimadzu Corporation, and Toshiba Medical Systems Corporation.