Molecular Imaging Market to See Incredible Growth By 2026
Molecular imaging is
a technique used to study cellular and molecular processes in order
to detect and diagnose complex molecular mechanisms, molecular
changes, and gene expression present in the course of the disease.
Molecular imaging includes the field of nuclear medicine, which use
traces of radioactive materials (radiopharmaceuticals) to diagnose
and treat disease. Molecular imaging provide information that is
unreachable with other imaging technologies or that would require
more invasive procedures such as surgery or biopsy. Moreover, it
identify disease in its initial stages and determine the exact
location of a tumor, often before symptoms occur or abnormalities can
be detected with other diagnostic tests.
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Market Dynamics
Increasing
prevalence of various chronic diseases such as cancer and other
genetic disorders are propelling demand for early disease diagnosis
eventually driving the medical imaging market growth. According to
the Centers for Disease Control and Prevention (CDC), February 2018
data, in the U.S., around 22,000 men and 9,000 women suffer from
liver cancer, and around 16,000 men and 8,000 women die from liver
cancer annually. Molecular imaging has become part of standard care
for many types of cancer. The use of imaging techniques in early
cancer detection, treatment response, and new therapy development is
steadily growing and has already significantly impacted on clinical
management of cancer.
Increasing
incidence of cancer, cardiovascular, and neurological diseases are
expected to drive the molecular imaging market growth
Increasing incidence
of various diseases such as cardiovascular, cancer, inflammatory, and
neurological diseases are propelling demand for molecular imaging and
is expected to drive the molecular imaging market growth during the
forecast period. These diseases are becoming increasingly prevalent
with rising percentage of geriatric population worldwide. According
to the American Heart Association 2015 data, in the U.S., around 2
million people die due to cancer and cardiovascular disease annually.
Medical imaging is
used for the early diagnosis and management of these diseases. For
instance, for solid tumors, novel molecular imaging modalities such
as Ultrasound, PET-CT, and MRI can facilitate earlier and more
accurate diagnosis and staging, which are requisites for successful
surgical therapy. Molecular imaging also plays an important role in
dementia evaluation. According to the Society of Nuclear Medicine and
Molecular Imaging, researchers are exploring the use of additional
neuroimaging probes, including FDDNP and amyloid markers, to
visualize abnormal plaques and tangles associated with Alzheimer’s
disease.
Molecular Imaging
Market Restraints
However, there are
some limitations associated with all molecular imaging modalities,
which may restrain molecular imaging market growth. For instance,
optical imaging lacks penetration depth, especially when working at
visible wavelengths. Depth of penetration is used for the absorption
and scattering of light to identify molecular structure. Moreover,
optical imaging and ultrasound do not offer whole body imaging. MRI
offers unlimited depth penetration and whole body imaging, however,
it is more costly than other modalities. PET-CT imaging is not
recommended for all patients due to harmful radiation that causes
side effects to the body. For instance, it is not suitable for
pregnant women, as the radiation could harm the baby.
Molecular Imaging
Market - Regional Insights
On the basis of
region, the global molecular imaging market is segmented into North
America, Latin America, Europe, Asia Pacific, Middle East, and
Africa. North America molecular imaging market is expected to foresee
major revenue share, owing to well established healthcare
infrastructure that offers all the molecular imaging modalities in
various parts of the region. Moreover, increasing awareness among
people about health coupled with prevalence of various diseases
including cardiovascular, cancer, brain disorders is propelling
demand for molecular imaging in the region.
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Molecular Imaging
Market - Competitive Landscape
Key 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.
Several players operating in the medical imaging devices market
are focusing on improving the image quality, in order to cater to
unmet medical imaging needs.
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