Functional Brain Imaging System Market Expected to Reach US$ 9,969.5 Million by 2034: Fact.MR Report
Growing Research in Cognitive Neuroscience Contributes to Market Expansion of Functional Brain Imaging System
Rockville , Jan. 23, 2024 (GLOBE NEWSWIRE) -- The functional brain imaging system market is expected to generate US$5,184.2 million in revenue in 2024. The global functional brain imaging system market has the potential to expand at a CAGR of 6.8% and reach US$ 9,969.5 million by 2034.The demand for functional brain imaging systems is expected to increase due to the rising frequency of neurological illnesses such as epilepsy, Alzheimer's disease, and other dementias around the world.
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A growing number of patients with traumatic brain injury and brain aneurysms require acute care, and new, cutting-edge magnetics technologies are making functional brain imaging devices more straightforward to use and need less processing time to examine the central nervous system. From 2024 to 2034, this is anticipated to contribute to both the adoption of functional brain imaging devices and revenue growth.
The absence of skilled personnel to manage and preserve the functioning brain imaging devices is another significant problem hindering functional brain imaging device market expansion. It is due to the systems' extreme complexity and the fact that operating them requires specific expertise and comprehension of brain anatomy and physiology. The number of individuals using the systems can be severely constrained due to a shortage of qualified personnel.
*Regional Perspectives in the Functional Brain Imaging System Market*
The market landscape in North America is dominated by large suppliers, which fosters competition and innovation and keeps cutting-edge functional brain imaging technologies coming upstream. The growing focus on neurological research and diagnoses and rising healthcare costs in nations like China and India are promoting the growth of functional brain imaging systems.
Government funding of neuroscience research in these countries is substantial, which fosters an atmosphere favorable to discoveries in understanding brain disorders and cognitive processes and strengthens the Europe functional brain imaging system market.
*Report Attribute* *Details*
Value Projection (2034) US$ 9,969.5 Million
Growth Rate (2024-2034) 6.8% CAGR
No. of pages 170 Pages
No. of Tables 64 Tables
No. of Figures 192 Figures
*Key Takeaways *
· North America’s functional brain imaging device market is set to develop at a CAGR of 7.0% from 2024 to 2034.
· East Asia functional brain imaging system sales are anticipated to surge at a CAGR of 8.5% between 2024 and 2034.
· The electroencephalography (EEG) system segment in the product type category is estimated to grab a share of 54.2%.
· The functional MR imaging (fMRI) system segment in the product type category is set to exhibit a CAGR of 7.4% from 2024 to 2034.
· The stand-alone device segment in the modality category is expected to grab a share of 80.6%.
· In the modality category, the stand-alone device segment is expected to accelerate at a CAGR of 6.9% through 2034.
· In the end user category, the diagnostic imaging centers segment is set to escalate at a CAGR of 7.1% between 2024 and 2034.
· In the end-user category, the hospitals segment is set to acquire a market share of 52.9%.
· The United States functional brain imaging system market is anticipated to surge at a CAGR of 7.3% through 2034.
· Canada’s functional brain imaging device market is set to develop at a CAGR of 5.8% through 2034.
· Mexico’s functional brain imaging system sales are anticipated to surge at a CAGR of 5.0% through 2034.
· China’s functional brain imaging system market is expected to surge at a CAGR of 9.1% until 2034.
· South Korea’s functional brain imaging device industry is anticipated to register a CAGR of 7.3% through 2034.
· Japan’s functional brain imaging system market is expected to exhibit a CAGR of 8.1% through 2034.
*“The demand for functional brain imaging devices is rising as infectious diseases that impact the central nervous system are becoming more prevalent, generating neural disorders,” comments an analyst at Fact.MR.*
*Key Companies Profiled in This Report*
· Koninklijke Philips N.V.
· General Electric Company
· Canon Medical Systems Corporation
· EB Neuro S.p.A.
· MinFound Medical Systems Co., Ltd
· Neurosoft
· Medtronic Plc
· Nihon Kohden Corporation
· Siemens AG
· Hitachi Medical Systems
· Elekta*Competitive Landscape*
Market competition for functional brain imaging systems is fierce, with many significant players in the field. The strategic actions of the available brain imaging system vendors are expected to help the market grow.
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*Novel Developments*
· An agreement to assist the businesses in enhancing their manufacturing operations was announced in August 2022 between GE Digital and Ernst & Young LLP (EY United States). Through this partnership, EY US's seasoned industry knowledge and technology consulting services are merged with GE's more than a century of manufacturing experience and abundant digital technologies.
· MYndspan launched a brain imaging service measuring and assessing brain health through brain connections at the Institute of Health and Neurodevelopment at Aston University in March 2022. The brain imaging service measures the electrical signals that travel between neurons to produce a remarkably detailed image of brain activity.
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*About Fact.MR**:*
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