Hybrid Imaging Market Size Worth $9.8 Billion by 2026 | CAGR: 4.5%: Grand View Research, Inc.

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18 Dec, 2019, 10:35 GMT

SAN FRANCISCO, Dec. 18, 2019 /PRNewswire/ -- The global hybrid imaging market size is expected to reach USD 9.8 billion by 2026, according to a new report by Grand View Research, Inc., registering a 4.5% CAGR over the forecast period. Increasing demand for accurate diagnostic techniques for cancer and cardiac disorders is expected to drive the market. Rising government initiatives for creating awareness regarding multimodal imaging devices are also expected to contribute toward market growth.

Key suggestions from the report:

PET/CT systems held the largest share in 2018 based on type, and the segment is expected to grow at a significant pace due to increasing development and installation of these devices in various end users such as hospitals and diagnostic centers
SPET/CT systems segment in hybrid imaging market will exhibit the fastest growth rate during the forecast period. Data captured by SPET/CT helps in understanding the detailed morphology and pathogenesis of a disease, thereby enhancing the quality of diagnostic output
In 2018, the oncology segment held the dominant share of hybrid imaging systems market by application, largely due to increasing number of cancer cases and growing awareness for cancer diagnosis
The cardiology segment is expected to grow at the fastest pace during the forecast period. Cardiac hybrid imaging helps in accurately capturing morphological and functional information in a single setting, thereby easing the diagnosis of cardiac disorders
Hospitals held the largest market share in 2018 on the basis of end use, mainly due to higher installation of technologically advanced devices for early diagnosis and treatment of a disease
Geographically, Asia Pacific is expected to register the fastest growth rate during the forecast period due to increasing number of radiology departments in the region and launch of advanced software by leading players.

Read 90 page research report with ToC on "Hybrid Imaging Market Size, Share & Trends Analysis Report By Type (PET/CT, SPET/CT), By Application (Oncology, Cardiology), By End Use (Hospitals, Diagnostic Imaging Centers), And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/hybrid-imaging-market

Increasing installation of such devices in research centers and institutions to enhance diagnostics in the field of oncology, cardiology, neurology, and others is expected to boost market growth. Leading players in the market are showcasing various multimodal imaging devices at medical conferences to increase their product reach. However, high cost and complications associated with these devices is expected to impede market growth during the forecast period.

Hybrid imaging devices require skilled professionals to understand the data collected by these combined devices. Therefore, various training programmes are conducted by several non-profit and government funded organizations to increase the adoption of hybrid imaging devices for the diagnosis of a disease.

North America dominated the hybrid/multimodal imaging market in 2018 and is expected to grow at a significant rate during the forecast period. The growth observed in this region is largely due to presence of global players and increasing adoption of advanced equipment such as hybrid imaging devices. Moreover, increasing awareness regarding nuclear medicine and molecular diagnostics in the region is expected to contribute toward the growth in this region.

Asia Pacific is expected register the strongest growth over the forecast period. This can be primarily attributed to growing usage of advanced devices such as PET/CT systems in radiology departments across emerging economies. Thriving medical tourism in numerous countries has piqued the interest of global market players, who are looking to invest in the development and launch of advanced software in the region. The Europe market is fueled by ongoing efforts by various non-profit organizations in conducting educational and training programs for scientists, physicians, technologists, physicists, radiographers, and others in the field.

Grand View Research has segmented the global hybrid imaging market on the basis of type, application, end use, and region:

Hybrid Imaging Type Outlook (Volume, Units; Revenue, USD Million, 2015 - 2026)

PET/CT systems
SPET/CT systems
PET/MR systems
OCT/Fundus Imaging System
Others

Hybrid Imaging Application Outlook (Revenue, USD Million, 2015 - 2026)

Oncology
Ophthalmology
Cardiology
Brain & Neurology
Others

Hybrid Imaging End-use Outlook (Revenue, USD Million, 2015 - 2026)

Hospitals
Diagnostic Imaging Centers
Others

Hybrid Imaging Regional Outlook (Revenue, USD Million, 2015 - 2026)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Russia
Netherlands
Switzerland
Turkey
Poland

Asia Pacific

China
Japan
India
Thailand
South Korea
Indonesia
Taiwan
Hong Kong
Philippines
Malaysia

Latin America

Brazil
Mexico
Argentina
Chile

Middle East & Africa

South Africa
Saudi Arabia
UAE
Iran

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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