The perfusion imaging market is on its way to garner a revenue of around USD 2,421.4 million in 2024. Revenue for the perfusion imaging solution providers is slated to improve at a CAGR of 3.4% over the projected period.
By following this sluggish growth rate, the perfusion imaging sector is expanding to achieve a net worth target of around USD 3,382.8 million by 2034.
Perfusion Imaging Market Trends & Analysis
| Report Attribute | Details |
|---|---|
| Perfusion Imaging Market Size (2024) | USD 2,421.4 million |
| Market Anticipated Forecast Value (2034) | USD 3,382.8 million |
| Market Projected Growth Rate (2024 to 2034) | 3.4% CAGR |
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The perfusion imaging industry was valued at USD 1,894 million in 2019. During this historical period, the adoption of perfusion MRI progressed at a rate of 4.7% per year.
The overall market value was about USD 2,409.4 million in 2023. A sedentary lifestyle with less physical activity and increasing adoption of processed food resulted in a record number of cardiovascular issues during this period.
In the data published in 2022 by the CDC, it was mentioned that in the United States, every year, nearly 805,000 individuals suffer a heart attack, and out of this, nearly 605,000 individuals experience a heart attack for the very first time. Also, as per the finding by the United Network of Organ Sharing, in 2021, the United States recorded a 5.9% rise in organ transplants as compared to 2020.
| Attributes | Details |
|---|---|
| Perfusion Imaging Market Value (2019) | USD 1,894 million |
| Market Revenue (2023) | USD 2,409.4 million |
| Market Historical Growth Rate (CAGR 2019 to 2023) | 4.7% CAGR |
The growing prevalence of cardiovascular and respiratory diseases owing to the higher geriatric population in the United States and European countries is driving the emerging trends in cerebral and cardiac perfusion imaging.
Increasing health conditions where organ transplantation is needed is also a key factor that is anticipated to boost the growth of the medical imaging industry during the forecast period. Besides organ transplantation, rising investments in cell-based research, and escalation in biologic manufacturing are also some market growth supporting factors.
Besides the drivers and opportunities, there are also some restraining factors and challenges in the market faced by several manufacturers in the United States and several European countries.
One of the key challenges mentioned in the medical imaging technologies report is the organ supply-demand gap. The higher cost of cell-based research and ethical concerns associated with it also hampers the growth of this market.
The table below lists the countries with higher growth rates and market share in perfusion imaging technologies.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 1.9% |
| Germany | 2.5% |
| United Kingdom | 2.3% |
| Thailand | 3.9% |
| India | 5.0% |
The United States is said to hold a sizable market share during the forecast period despite following a sluggish CAGR of 1.9%. The presence of manufacturing sites of some of the primary perfusion scanning equipment manufacturers is responsible for advancement and generating more revenue for the market in the country.
For example, GE Healthcare, based in the country, developed an AI-powered analytic tool for imaging that involves automating picture processing, quantifying perfusion parameters, and improving diagnosis accuracy.
Demand for the product is figured to increase at a CAGR of 2.5% through 2034. Siemens Health, owned by BOSCH LLC, has developed a Spectral CT technology using dual-energy CT scanners to distinguish blood flow from background tissue. Such technological advancements resulting in greater accuracy are likely to improve the German market share in perfusion imaging.
Some Eastern European countries are also anticipated to increase their dependence on Germany to develop their blood flow imaging infrastructure during the forecast period.
The impact of profusion CT on the diagnostic imaging market of the United Kingdom has the ability to drive sales at 2.3% CAGR through 2034. Increasing incidences of cardiovascular infections, tumor-associated angiogenesis, cerebrum tumors, etc. in the United Kingdom is the key reason for the higher adoption in the diagnostic imaging sector.
Furthermore, the country is expected to create more demand for this technology due to its higher geriatric population and its expanding medical tourism sector.
The use of perfusion image technology in India is expected to increase at a CAGR of 5.0% over the forecast period. India is witnessing a substantial rise in its nuclear medicine imaging market that is favoring the advancement of perfusion MRI technology too.
However, the lack of skilled personnel to operate such advanced systems was the key reason for this region’s inadequate market performance until a few years back. Another key opportunity for the market players is a soaring preference for continuous manufacturing and increasing pharmaceutical research in the country.
During the forecast period, Thailand is in line to exhibit a CAGR of 3.9% in the adoption of the technology. Following India, Thailand is observed to be experiencing immense potential in generating revenue in the Asia market owing to aggressive healthcare infrastructure improvement.
This is due to multiple advancements in healthcare facilities equipped with medical imaging solutions as well as increasing per capita income annually. Several global players are also establishing their manufacturing units to enter the Asian, especially the Thai, market.
| Attributes | Details |
|---|---|
| Top Modality Type Segment | Magnetic Resonance Imaging (MRI) |
| Total Market Share in 2024 to 2034 | 27.6% |
Based on modality type, perfusion scanners based on magnetic resonance imaging technology are set to contribute 27.6% to total sales in 2024. Magnetic resonance imaging (MRI) imaging procedures efficiently generate both perfusion measurements and perfusion maps of the area of specific interest. The application of this technique of imaging has been growing rapidly over the years making it the leading segment of the market.
| Attributes | Details |
|---|---|
| Top Application Type Segment | Coronary Artery Disease (CAD) |
| Total Market Share in 2024 | 32.1% |
Based on application, the use of imaging technology for coronary artery disease constitutes the leading segment with an expected 32.1% share in 2024. The higher need for measuring several hemodynamic parameters non-invasively has increased the use of imaging technology for coronary artery diseases. Also, the CAD application segment is projected to exhibit a steady CAGR during the forecast period owing to constant product innovation and new equipment launches.
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The competitive landscape is gradually diversifying with the emergence of many new companies in recent years. Leading industry players are following constant improvements in imaging technologies, including perfusion imaging with CT and MRI to improve their market standing.
On the other hand, new market entrants are working together with pharmaceutical and imaging industries to derive more revenue opportunities from clinical trials and drug development programs.
Recent Developments in the Market
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 2,421.4 million |
| Projected Market Size (2034) | USD 3,382.8 million |
| Anticipated Growth Rate (2024 to 2034) | 3.4% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Modality Type, By Application, By End Use Verticals, and By Region |
| Key Companies Profiled | GE Healthcare; Toshiba Medical System.; Positron; Aetna Inc.; NeuSoft; Bracco; Cigna; Kmhlabs; Perimed AB.; Siemens Health; Philips Healthcare; Lantheus Medical Cardiac Imaging Solutions Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available Upon Request |
The market is estimated to be around USD 2,421.4 million in 2024.
The market is set to develop at 3.4% CAGR during the forecast period.
The market is predicted to be valued at USD 3,382.8 million by 2034.
The market was valued at USD 1,894 million in 2019.
Coronary artery disease is expected to account for 32.1% revenue share of the market in 2024.
India is set to witness a CAGR of 5.0% in the adoption of perfusion imaging through 2034.
| Market Size (2024E) | USD 6214 million |
|---|---|
| Market Projected Size (2034F) | USD 9376.7 million |
| Value CAGR (2024 to 2034) | 4.2% |
| Market Value (2023) | USD 380.8 Million |
|---|---|
| Market Value (2033) | USD 756.3 Million |
| CAGR (2023 to 2033) | 6.5% |
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Perfusion Imaging Market
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