Brain Imaging Modalities Market Report 2024

This Brain Imaging Modalities market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The brain imaging modalities market size has grown strongly in recent years. It will grow from $12.33 billion in 2023 to $13.07 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The expansion during the historical period can be linked to several factors, the increasing occurrence and frequency of neurological disorders, the growing use of brain imaging technologies, and a rise in traffic accidents, all of which have contributed to market growth. Additionally, the revenue in the brain imaging market has increased, and there has been a greater application of brain monitoring in clinical trials.

The brain imaging modalities market size is expected to see strong growth in the next few years. It will grow to $16.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period is driven by heightened awareness of neurological disorders, a surge in demand for ventilators, and a growing need for non-invasive and minimally invasive devices. Other factors include an increase in traffic accidents and a rise in the prevalence of neurological disorders and traumatic brain injuries (TBI). Key trends expected during this period include the integration of artificial intelligence (AI), the emergence of portable and wearable imaging devices, multi-modal imaging techniques, a focus on neurodegenerative diseases, and the rise of digitalization and decentralized trials.

The rising incidence of neurological disorders is anticipated to drive growth in the brain imaging modality market in the future. Neurological disorders impact the nervous system, including the brain, spinal cord, and nerves, leading to issues with movement, sensation, cognition, or behavior. Factors contributing to the rise in neurological disorders include an aging population, improved diagnostic techniques, chronic diseases, genetic predispositions, environmental shifts, and lifestyle changes. Brain imaging modalities are essential for diagnosing and monitoring these disorders, offering detailed images of brain structure and function to support effective treatment planning. For example, the European Brain Council reported in April 2022 that 10.5 million people in Europe are living with dementia, with projections suggesting this number could reach 18.7 million by 2050. This growing prevalence of neurological disorders is fueling the expansion of the brain imaging modality market.

Leading companies in the brain imaging modalities market are concentrating on developing cutting-edge technologies, such as advanced neuroimaging tools, to maintain a competitive edge. Neuroimaging technologies are sophisticated medical instruments designed to produce detailed images of the brain's structure and function. For instance, in February 2024, Koninklijke Philips N.V., based in the Netherlands, collaborated with Sweden's SyntheticMR to introduce Smart Quant Neuro 3D. This technology offers automated 3D quantification of neuroimaging data, real-time brain structure visualization, and artificial intelligence integration for enhanced diagnostic precision. This advancement aims to optimize workflows and reduce the time needed for image analysis, benefiting both healthcare providers and patients.

In April 2023, GE HealthCare Technologies Inc., a US-based medical technology company, acquired IMACTIS for an undisclosed amount. This acquisition is intended to strengthen GE HealthCare's technological capabilities in the healthcare sector by integrating IMACTIS's innovative navigation solutions. IMACTIS is a US-based firm specializing in computer-assisted interventional radiology.

Major companies operating in the brain imaging modalities market are Hitachi Ltd, Siemens AG, Toshiba Corporation, FUJIFILM Corporation, Koninklijke Philips N.V, Stryker Corporation, GE HealthCare Technologies Inc., Hologic Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, Canon Medical Systems Corporation, Neusoft Corporation, Planmed Oy, Agfa-Gevaert N.V., Carestream Health, Brainlab AG, Esaote SpA, Ziehm Imaging GmbH, EOS imaging, NeuroLogica Corp., Swissray International Inc., Xoran Technologies LLC., Allengers Medical Systems Ltd., Konica Minolta Healthcare Americas Inc., Hi-Tech Medical Imaging.

North America was the largest region in the brain imaging modalities market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the brain imaging modalities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the brain imaging modalities market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Brain imaging modalities are techniques that allow visualization of the brain's structure, function, and activity, aiding doctors and researchers in diagnosing and understanding brain-related disorders. These techniques assist in identifying brain issues, examining brain function, and guiding treatment planning.

The primary categories of brain imaging modalities include devices, accessories, and usability. Brain imaging devices are advanced machines used to produce detailed images or functional data of the brain. Key imaging types are computed tomography (CT), positron emission tomography (PET), magnetic resonance imaging (MRI), and single photon emission computed tomography (SPECT). Modalities encompass both stand-alone functional brain imaging systems and portable functional brain imaging systems. The technology is applicable to adults, children, and infants and is utilized by various end-users, including hospitals, diagnostic centers, and research institutions.

The brain imaging modalities market research report is one of a series of new reports that provides brain imaging modalities market statistics, including brain imaging modalities industry global market size, regional shares, competitors with a brain imaging modalities market share, detailed brain imaging modalities market segments, market trends and opportunities, and any further data you may need to thrive in the brain imaging modalities industry. This brain imaging modalities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The brain imaging modalities market consists of sales of structural magnetic resonance imaging (MRI), high-resolution computed tomography (CT), and functional near-infrared spectroscopy (fNIRS). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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