Brain Imaging and Neuroimaging Market Size to Reach USD 22.99 Bn By 2032

The global brain imaging and neuroimaging market size was valued at 13.5 billion in 2022 and is anticipated to reach around 22.99 billion by 2032, expanding at a CAGR of 5.47% from 2023 to 2032. The increasing prevalence of neurological disorders drives demand, alongside growing investments in healthcare infrastructure. Moreover, rising awareness and emphasis on early disease detection fuel market growth, spurring innovation and expansion.


Brain Imaging and Neuroimaging Market Size 2023 To 2032

Market overview

The brain imaging and neuroimaging market encompasses a variety of technologies used to visualize the structure and function of the brain. This includes techniques such as magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), and electroencephalography (EEG). These technologies provide valuable insights into neurological conditions, brain injuries, and mental health disorders by allowing clinicians to observe the brain’s anatomy, blood flow, metabolism, and electrical activity.

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In healthcare, brain imaging plays a crucial role in the diagnosis, treatment planning, and monitoring of neurological disorders such as Alzheimer’s disease, Parkinson’s disease, epilepsy, and stroke. Additionally, neuroimaging techniques are used in research settings to study brain development, cognition, and behavior, offering valuable insights into the underlying mechanisms of various neurological conditions. Furthermore, brain imaging technologies are increasingly being integrated with artificial intelligence algorithms to improve diagnostic accuracy, personalize treatment approaches, and facilitate early intervention in neurological diseases, thus driving innovation and growth in the brain imaging and neuroimaging market.

Key insights

  • North America contributed more than 39% of market share in 2023.
  • By imaging type, the functional magnetic resonance imaging (fMRI) is expected to captured the biggest revenue share over the forecast period.
  • By end-user, the hospital segment is expected to dominate the market throughout the forecast period.

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Regional instances

North America has historically dominated the neuroimaging and brain imaging market, with the United States leading the way. The region’s dominance can be attributed to several factors, including advanced healthcare infrastructure, high healthcare expenditure, extensive research and development activities, and the presence of leading neuroimaging technology manufacturers and research institutions. Additionally, favorable reimbursement policies and increased awareness about neurological disorders have fueled the demand for advanced brain imaging technologies in North America.

Western Europe has emerged as a significant growing market in the neuroimaging and brain imaging sector. Countries like Germany, France, and the United Kingdom are witnessing rapid growth due to factors such as rising prevalence of neurological disorders, increasing investments in healthcare infrastructure, and growing adoption of advanced imaging technologies. Moreover, collaborations between academic institutions, research organizations, and industry players are driving innovation and technological advancements in neuroimaging techniques across Western Europe. Additionally, initiatives by governments and healthcare organizations to promote early diagnosis and treatment of neurological conditions are further propelling market growth in the region.

Reports highlights

By imaging

The functional magnetic resonance imaging (fMRI) segment dominates the brain imaging and neuroimaging market due to its ability to capture real-time brain activity by measuring changes in blood flow. This non-invasive technique is widely used in both clinical and research settings to study brain function, map neural networks, and understand cognitive processes. fMRI's versatility and high spatial resolution make it indispensable for studying neurological disorders, cognitive functions, and brain connectivity. Its dominance stems from its ability to provide valuable insights into brain function and dysfunction, driving its widespread adoption and fueling growth in the brain imaging and neuroimaging market.

Computed tomography (CT) imaging segment is poised for rapid growth in the forecast period within the brain imaging and neuroimaging market. This dominance is primarily attributed to technological advancements enhancing CT imaging capabilities, such as faster scan times, improved image resolution, and reduced radiation exposure. CT offers valuable insights into brain anatomy, vascular structures, and abnormalities, making it a preferred choice for diagnosing neurological conditions like strokes, brain tumors, and traumatic brain injuries. Additionally, the widespread availability and cost-effectiveness of CT scanners further contribute to its dominance in the neuroimaging market segment.

By end user

The hospital segment dominates the brain imaging and neuroimaging market primarily due to its role as a primary healthcare provider and a central hub for diagnostic and treatment services. Hospitals have extensive resources, including advanced imaging equipment, skilled medical professionals, and specialized departments dedicated to neurology and neuroimaging. Moreover, hospitals serve a wide range of patients with diverse neurological conditions, making brain imaging technologies indispensable tools for diagnosis, treatment planning, and monitoring. Additionally, hospitals often receive government funding and insurance reimbursements, further driving the adoption of brain imaging technologies within this segment.

Market dynamics

Drivers

Advancements in imaging technology

Advancements in imaging technology, such as higher-resolution imaging modalities and innovative imaging techniques, serve as a significant driver for the brain imaging and neuroimaging market. These technological advancements enable healthcare professionals to obtain clearer and more detailed images of the brain’s structure and function, improving diagnostic accuracy and treatment planning for neurological disorders. Additionally, the development of multimodal imaging approaches, combining various imaging modalities, enhances the comprehensive assessment of brain health. Furthermore, continuous research and development efforts aimed at improving imaging technologies contribute to the expansion of applications in both clinical and research settings, driving market growth.

  • In March 2024,Fujifilm introduced the Echelon Synergy MRI Machine in India, enhanced diagnostic precision and facilitating tailored treatment strategies for patients. This innovation targets improved patient outcomes and fosters a healthier society, emphasizing personalized care and a promising future in healthcare advancement.

Restraint

Regulatory hurdles and compliance challenges

One significant restraint facing the brain imaging and neuroimaging market is the complex regulatory landscape and compliance challenges associated with the development, approval, and implementation of new imaging technologies. Stricter regulations surrounding patient data privacy, radiation exposure limits, and safety standards impose substantial barriers to entry for manufacturers and developers.

Compliance with diverse regulatory requirements across different regions adds layers of complexity and cost to product development and market entry strategies. Moreover, navigating the regulatory approval process can result in delays and increased expenses, hindering the pace of innovation and market growth in the brain imaging and neuroimaging sector.

Opportunity

Advancements in artificial intelligence integration

The integration of artificial intelligence (AI) presents a significant opportunity for the brain imaging and neuroimaging market. AI algorithms can enhance the speed, accuracy, and efficiency of image analysis, enabling automated interpretation of complex neuroimaging data. This integration opens avenues for personalized medicine, as AI can assist clinicians in identifying subtle patterns and biomarkers indicative of neurological disorders. Moreover, AI-powered predictive analytics hold promise for early detection and intervention in conditions like Alzheimer’s disease and stroke. As AI continues to evolve, its seamless integration with brain imaging technologies offers immense potential for revolutionizing neurological diagnostics and 8treatment strategies.

Recent developments

  • In February 2024, Philips collaborates with Synthetic MR, unveiled Smart Quant Neuro 3D at ECR2024. This groundbreaking AI-based technology offers automated measurement of brain tissues, revolutionizing neurology care. It enables objective assessment of traumatic brain injuries by analyzing myelin volumes, a capability previously reliant on symptom-based tests.
  • In January 2024, Hyperfine unveiled the eighth generation of its Swoop brain imaging system, integrating AI-powered features. FDA cleared its DWI AI denoising software in October 2023. Hyperfine initiated a limited market release, gradually introducing it to select sites in recent weeks, marking a significant advancement in brain imaging technology.
  • In March 2024, Paediatric Neuroimaging Group debuted an animation series, spearheaded by Professor Caroline Hartley and Dr. Marianne van der Vaart, to assist parents of premature infants. These animations elucidate brain development in preemies, focusing on breathing and apnoeas, enhancing parental comprehension and fostering informed caregiving.

Brain Imaging and Neuroimaging Market Companies

  • GE
  • Siemens
  • Canon
  • Hitachi Medical Systems
  • Medtronic PLC.
  • EB Neuro S.p.A.
  • Neurosoft
  • MinFound Medical Systems Co. Ltd.
  • Elekta
  • Varian medical Systems
  • General Electric Company
  • Philips Healthcare
  • Toshiba Medical Systems
  • Sanrad medical Systems Pvt. Ltd
  • Esaote SpA

Segments Covered in the Report:

By Imaging Type

  • Functional Magnetic Resonance Imaging (fMRI)
  • Computed Tomography (CT)
  • Positron Emission Tomography (PET)
  • Electroencephalography (EEG)
  • Magnetoencephalography (MEG)
  • Near infrared Spectroscopy (NIRS)

By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics and Diagnostic Centers

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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