Hybrid imaging is fusion of two or more imaging technologies into a single new form. The image obtained with hybrid imaging system is more powerful in terms of accuracy as compared to two single images. Along with depicting the anatomy, hybrid imaging enables visualization of the molecular processes in vivo within larger anatomic content. Technologies in hybrid imaging include ultrasonography, magnetic resonance imagining (MRI), computed tomography (CT), and positron emission tomography (PET). The fusion of these technologies have given rise to hybrid imaging systems. The hybrid of PET/CT was introduced in 2001 and SPECT/CT was introduced in 2003. PET/MRI is also an available hybrid imaging system, but not used widely. Both hybrid imaging techniques PET/CT and SPECT/CT have significant relevance in clinical and pre-clinical practice. Hybrid imaging scans need a patient to be stationed at the same place for both scans. Involuntary movements of the internal organs can be minimized in hybrid imaging systems. Hybrid imaging systems have reduced the time required for scanning. Usually the required time with standalone imaging systems is an hour or even more. However, hybrid imaging systems have reduced scanning time by up to 25 minutes to 30 minutes. With the emergence of hybrid imaging system, a patient can be scanned in a single session and the desired anatomical and functional data of the organ of interest can be achieved. PET/CT has evolved due to continuous innovation, which enables more accurate measurements of metabolic processes, data quantification and analysis of neurologic disease, cancerous tissue, and cardiac blood flow. PET/CT is a standard hybrid imaging technique used in oncology and SPECT/CT, which is in an evolving phase, is generally used for cardiac scans.
Rise in importance of combination analysis of anatomic and molecular data in the diagnosis of diseases is a major driver of the global hybrid imaging systems market. Further with the benefits of hybrid imaging and its rising use in the diagnosis, there is huge potential for the of combination hybrid imaging PET or SPECT with MRI. Increase in prevalence of chronic diseases, growing awareness about early diagnosis, and rise in the number of diagnostic procedures are propelling the market. Site accreditation, technologist training, physician training, and high cost for procedure among the underprivileged population are the major restraints of the global hybrid imaging systems market.
The global hybrid imaging systems market can be segmented based on technology, application, end-user, and region. In terms of technology, the market can be categorized into PET/CT, SPECT/CT, and PET/MRI. By applications the segment PET/CT scan, used for diagnosis in the field of oncology, neurology and cardiology, whereas, SPECT/CT scans are done for the diagnosis of infections, inflammation, thyroid disorders, oncology and orthopedic problems. In terms of end-user, the market can be bifurcated into hospitals and diagnostic centers. In terms of region, the global hybrid imaging systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
In the past five years, standalone systems have been replaced by hybrid imaging systems, a trend observed globally. Highest number of installations of PET/CT were seen in the U.S. Western Europe reported increase in PET/CT scans by 72% in 2008; installations of SPECT/CT were lesser than PET/CT. The Middle East is an emerging market for hybrid imaging systems. In North America, hybrid scanning system is highly preferred in the diagnosis of cardiology and global nuclear medicine market. This trend is also predominant in Europe and Asia Pacific. Countries in Asia are also expected to witness growth in the next few years due to rise in awareness about early diagnosis of life threatening diseases and advancements in nuclear medicine. Latin America and Middle East & Africa are potential markets. Growth in these regions is attributed to low disposable income and significant contribution of government investment in health care.
Leading players in the global hybrid imaging systems market are Siemens Healthineers, GE Healthcare, Philips Healthcare, Hitachi Ltd., Atlantis Worldwide, Shared Imaging, and Amber Diagnostic, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.