Molecular imaging allows visualization of normal and pathological molecular and biological processes in living subjects providing vital biochemical insights at the cellular and sub-cellular levels. It plays a crucial role in drug development and clinical research. This includes developing new targeted treatments and monitoring their effectiveness through early detection of treatment responses. The global molecular imaging market provides non-invasive diagnostic solutions for imaging biomarkers linked to diseases via positron emission tomography (PET), single-photon emission computed tomography (SPECT), and magnetic resonance spectroscopy (MRS) techniques. The molecular probes and radiotracers employed with these imaging modalities enable visualization of specific molecular targets and biological processes in vivo—facilitating earlier disease diagnosis and more effective treatment monitoring.
The global Molecular Imaging Market is estimated to be valued at US$ 4786.94 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend gaining traction in the molecular imaging market is growing application in neuroimaging. Molecular imaging techniques are significantly helping further the understanding of neurological diseases like Alzheimer’s, Parkinson’s, stroke and brain tumors. PET and SPECT effectively track biomolecular changes in the living brain, facilitating drug development and personalized treatment approaches. Ongoing innovations to refine molecular probes and imaging hardware are also improving diagnostic accuracy. Multi-modal imaging combining anatomical and functional capabilities of PET/CT and PET/MRI continues to drive new insights. The development of novel targeted radiotracers for tau, amyloid, and other biomarkers will be central to advancing early disease detection and monitoring treatment response in neurodegenerative conditions.
Threat of new entrants: The molecular imaging market requires high R&D investments and regulatory approvals which make the threat of new entrants moderate.
Bargaining power of buyers: The presence of several players and availability of substitutes provide buyers with higher bargaining power. However, high costs related to equipment reduce switching between players.
Bargaining power of suppliers: The dependence on few raw material suppliers gives them moderate bargaining power over equipment manufacturers.
Threat of new substitutes: Technological advancements are continuously bringing new substitutes like artificial intelligence in medical diagnostics posing threats to molecular imaging systems.
Competitive rivalry: The presence of many global and regional players results in high competitive rivalry based on product innovation, pricing, and service quality.
The Global Molecular Imaging Market Size is expected to witness high growth during the forecast period of 2023 to 2030. The global Molecular Imaging Market is estimated to be valued at US$ 4786.94 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030.
Regional analysis- North America dominates the global market owing to high healthcare expenditure and presence of major players in the US. Asia Pacific is expected to grow at the fastest pace due to increasing disease prevalence and healthcare investments in countries like China and India.
Key players – The key players operating in the molecular imaging market are GE Healthcare, Bruker Corporation, Fujifilm Holdings Corp., Siemens Healthineers, Koninklijke Philips N.V. These players are focusing on new product launches and partnerships to strengthen their presence across regions. For instance, GE Healthcare launched its healthcare business unit to consolidate molecular and artificial intelligence offerings.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it