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The global Molecular Imaging Market Growth Accelerated by Rising Demand for Disease Diagnosis

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naufan
The global Molecular Imaging Market Growth Accelerated by Rising Demand for Disease Diagnosis

Molecular imaging refers to visualizing, characterizing, and measuring biological processes at the molecular and cellular levels. Molecular imaging aids in visualization of physiological and biochemical processes that occur inside living systems. The technique is useful for disease diagnosis, drug discovery, drug development, and treatment monitoring. Techniques like positron emission tomography (PET) and single-photon emission computed tomography (SPECT) play a vital role.

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 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing incidence and prevalence of chronic diseases such as cancer and cardiovascular diseases has accelerated the demand for molecular imaging techniques for disease diagnosis. PET and SPECT scans help doctors diagnose and track disease progression by detecting areas of abnormal radioactivity concentration in tissues and organs. These techniques enable visualization of biological functions at the cellular and sub-cellular level in a non-invasive manner. The current trends suggest these molecular imaging modalities will continue witnessing wide adoption for disease diagnosis, thus driving the growth of the molecular imaging market over the forecast period.

Segment Analysis

The global molecular imaging market is segmented by product into small molecules and biologicals. The small molecules segment dominates the global market currently owing to widespread application of small molecule tracers like fluorodeoxyglucose (FDG) in positron emission tomography (PET) imaging procedures. Small molecule tracers have high detection sensitivity and allow visualization of various physiological and pathological processes at the molecular and cellular level.

Key Takeaways

The Global Molecular Imaging Market Size is expected to witness high growth over the forecast period. Advances in molecular imaging techniques coupled with increasing applications across various disease areas will boost the demand. 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 5.2% over the forecast period 2023 to 2030.

Regional analysis: North America currently dominates the global molecular imaging market owing to high healthcare expenditure, presence of leading manufacturers, and widespread adoption of novel imaging technologies. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to growing healthcare infrastructure, rising disposable incomes, and increasing incidence of chronic diseases in major economies like China and India.

Key players: Key players operating in the molecular imaging market are BASF SE, AkzoNobel N.V., Henkel AG & Co.KGaA, Solvay SA, Huntsman Corporation, Eastman Chemical Company, Lonza Group Limited, Procter & Gamble Co., Croda International Plc., The Dow Chemical Company, Betco Corporation, Sealed Air Corporation and Ecolab Inc. These players are focusing on new product launches, expanding their manufacturing capacities and collaborations to strengthen their market position.


Get more insights on this topic:

https://www.rapidwebwire.com/molecular-imaging-market-insights/

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