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Brain Imaging Modalities Market: Segmented: By Product (Devices, Accessories, Usability), By Modalities (Stand-Alone Functional Brain Imaging Systems, Portable Functional Brain Imaging Systems), By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Diagnostic Centers), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[ 170 + Pages Research Report ] Brain Imaging Modalities Market to surpass USD 21.2 billion by 2031 from USD 12.8 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2021-2031
Over the last two decades, the area of cognitive neuroscience has grown and expanded at a remarkable pace. This new field integrates two previously independent sciences, cognitive psychology and neurology, to study the brain basis of human cognition. Throughout the world, neurological diseases and mental disorders have arisen as severe public health concerns and significant challenges to healthcare systems. Some of the causes of neurological difficulties include genetic abnormalities, infections, lifestyle, congenital anomalies or disorders, or environmental health problems, such as brain injury, spinal cord injury, malnutrition, or nerve injury.
Global Brain Imaging Modalities Market is expected to project a notable CAGR of 5.2% in 2031.
Increased incidence and prevalence of neurological disorders, increased awareness of neurodegenerative diseases, increased number of traumatic brain injuries and increased use of brain monitoring in clinical trials are all contributing to the market's rise. The growing demand for non-invasive and minimally invasive devices, as well as the developing therapeutic applications of brain monitoring devices and the expanding healthcare sector in emerging nations, are expected to showcase potential prospects for industry vendors.
The Devices segment is expected to grow with the highest CAGR during 2021-31
Based on Product, the global Brain Imaging Modalities Market is fragmented into Devices, Accessories, and Usability. The global market for brain monitoring is divided into two categories: devices and accessories. In 2020, the devices category accounted for the greatest proportion of the brain monitoring market. The expanding incidence of neurological, neurodegenerative, psychotic, and sleep disorders, the necessity for early diagnosis, the availability of innovative portable and wearable home-based monitoring equipment, and increased patient awareness are all contributing to this trend.
The Hospital segment is expected to grow with the highest CAGR during 2021-31
Global Brain Imaging Modalities Market is classified on the basis of End User into Hospitals, Ambulatory Surgical Centers, Clinics, and Diagnostic Centers. In 2020, the hospital sector accounted for the greatest proportion of the global brain imaging modalities market. Brain monitoring is a complicated procedure that necessitates the use of pricey and sophisticated technologies and equipment typically available in hospitals. In addition, compared to small clinics and other end users, hospitals see a significantly higher intake of patients.
Growing Prevalence Neurological Disorders
Dementia, epilepsy, Parkinson's disease, Huntington's disease, multiple sclerosis, stroke, headache disorders, neuro infections, and cerebral palsy have all seen considerable increases in global incidence and prevalence over the years. Brain illnesses, which encompass a variety of developmental, behavioural, and neurodegenerative diseases, are becoming a more common cause of morbidity worldwide. The expanding senior population is mostly to blame for this. In addition, research show that by 2030, at least 60% of people aged 65 and up will have more than one chronic illness.
Government Investments in Healthcare Sector
As the prevalence and incidence of neurological diseases continue to rise, so will the use of new technologies. As a result, disease diagnosis will grow faster, and the global market for brain imaging modalities will expand. Governments invest a substantial amount of money in healthcare insurance in order to cut total healthcare expenses while also improving the quality of life and treatment affordability.
High cost associated with the Brain Imaging devices and Surgeries
The high priced brain monitoring devices and operations are a major restraint on the global industry, mainly in underdeveloped economies with lax reimbursement norms. The procedures involving the use of brain monitoring equipment are often expensive, and the devices themselves are highly complicated.
Global Brain Imaging Modalities Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In 2020, North America registered maximum proportion of the global brain imaging modalities market. This is because of the increase in the prevalence of neurological disorders, considerable rise in the number of clinical trials of the brain monitoring devices, and also the accessibility of medical reimbursement in the United States.
In contrast to brain monitoring devices, COVID-19 has resulted in a considerable increase in demand for ventilators, and manufacturers are currently focusing their efforts on meeting the growing demand for ventilators, including other breathing devices. The pandemic is expected to have a negative influence on the brain monitoring industry, owing to hospitals' increased attention on establishing COVID-19-specific ICUs, as well as the temporary stoppage of production and manufacture in major afflicted locations around the world.
Global Brain Imaging Modalities Market is further segmented by region into:
Brain Imaging Modalities Market Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 12.8 billion |
| Revenue forecast in 2031 | USD 21.2 billion |
| Growth Rate | CAGR of 5.2% from 2021 to 2031 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, Modalities, End User, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Aspect Imaging, Canon, Inc., Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Hyperfine Inc., Koninklijke Philips N.V., Mediso Medical Imaging Systems, MinFound Medical Systems Co., Ltd., Samsung Electronics Co., Ltd., Shenzhen Anke High-Tech Co.,Ltd., Shimadzu Corporation, Siemens Healthineers AG, United Imaging Healthcare Co., Ltd., VUNO Co., Ltd., and Other Prominent Players |
Brain Imaging Modalities Market size was estimated at USD 12.8 billion in 2021 and is expected to reach USD 21.2 billion in 2031.
For the treatment of many types of neurodegenerative disorders, brain imaging is a screening approach that aids the physician in analysing the activity and functional difficulties of the nervous system.
The Devices segment accounted for the largest Brain Imaging Modalities Market share.
Key players in the Brain Imaging Modalities Market include Aspect Imaging, Canon, Inc., Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Hyperfine Inc., Koninklijke Philips N.V., Mediso Medical Imaging Systems, MinFound Medical Systems Co., Ltd., Samsung Electronics Co., Ltd., Shenzhen Anke High-Tech Co.,Ltd., Shimadzu Corporation, Siemens Healthineers AG, United Imaging Healthcare Co., Ltd., VUNO Co., Ltd., and Other Prominent Players.
The high prevalence and increasing occurrences of brain diseases and neurogenerative disorders, as well as technological advances in brain imaging modalities and systems, are driving the market forward.
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