Functional Brain Imaging Systems Market: Global Industry Analysis And Forecast(2023-2029)

Functional Brain Imaging Systems Market was valued at US$ 4.67 Bn. in 2022, and the total functional brain imaging systems revenue is expected to grow at a CAGR of 6.8 % for the period 2023-2029, reaching nearly US$ 7.40 Bn. in 2029.
Functional Brain Imaging Systems Market Overview:
Functional brain imaging is a technique used to measure the flow of blood, neural activities, and metabolism in the human brain. The different techniques used in brain imaging are electroencephalography (EEG), functional magnetic resonance imaging (fMRI), positron emission tomography, and magnetic resonance spectroscopy. Growing advantages of brain imaging such as safe, painless, non-invasive, no X-rays or radioactive material is used and detailed view of the brain in different dimensions, etc. are used in treating diseases like Alzheimer's disease, dementia, brain cancer, and mental disorders. As a result, the Global Functional Brain Imaging Systems Market is expected to reach US$ 6.50 Bn by 2029. To know about the Research Methodology :- Request Free Sample Report
Functional Brain Imaging Systems Market Dynamics:
The increasing incidence of brain disorders around the globe like brain cancer, stroke, and epilepsy & other seizure disorders is expected to drive the growth of the functional brain imaging systems market. Furthermore, increasing development in imaging technologies and advanced use medical equipment are adding an advantage to market growth. In 2021, according to the “World Health Organization” report, the disability-adjusted life year (DALYs) for the neurological disorder is high among the selected diseases across the globe as given below.

The increasing number of road accidents and the rising importance of brain imaging are fuelling the growth of the market. In 2021 Indian subcontinent recorded around 151 thousand accidents across the globe. An increasing number of aging populations and rising dementia cases among them are anticipating the growth of the market. In 2022, according to CENTERS FOR DISEASES CONTROL AND PREVENTION estimation, more than 7.8 Mn adults was suffered from dementia and this number is expected to reach 12.9 Mn by 2029.

In January 2022, “European Research Council” granted US$ 1.69 Mn to the ‘University of Birmingham psychologist’ for the development of the project called PROFUSE. Under this project, the researchers used machine-learning techniques and wearable brain imaging technology to study the behavior of people of different ages. And In December 2021, the scientists at “University of Tsukuba” found that MRI machines can be used to detect “sodium ions” by using a cross-band radiofrequency repeater. This development helps in providing enhanced clinical imaging and monitoring functionality at a lower cost.

In September 2021, SpinTech Inc developed software called “STAGE (Strategically Acquired Gradient Echo)”, which can be integrated with the existing MRI system to process brain imaging over time. This STAGE platform got clearance from the U.S. Food and Drug Administration and helps in reducing the imaging acquisition time by 40%.

Some of the factors slowing the growth of the functional brain imaging systems are price associated with the treatment because the people present in the under developing countries are unable to utilize this technology and due to the high cost of installation some of the clinics and hospitals are stepping back in its adoption. Furthermore, Magnetic fields that are present in the system produce loud knocking noises that can harm hearing if adequate ear protection is not used. They may also cause peripheral muscle or nerve stimulation, which may feel like a twitching sensation and the use of radiofrequency in functional brain imaging lead to the heating of the body. These are the factors becoming roadblocks to the development of the functional brain imaging systems market.
Functional Brain Imaging Systems Market Segment Analysis
Based on Type, the Functional Brain Imaging Systems Market is sub-segmented into functional MR imaging (fMRI) systems, functional near-infrared spectroscopy (fNIRS) systems, and positron emission tomography (pet) system. The functional MR imaging (fMRI) systems segment dominates the global market and it held a share of 51 % in 2022. These fMRI works by using powerful magnetic fields, radiofrequency pulses, and a computer to provide images of the internal organs. Due to its safety procedure and high-quality imaging capacity with minute details like millimeter are increasing using in monitor brain tumor, examine functional anatomy of the brain and assess the effect of strokes of trauma on brain function. In 2021 Doctor Peder Larson working at the University of California found that noise produced during the scan may have a biological effect on brain function which leads to inaccuracy in treatment. They are focusing on the development of fMRI systems with lower noise. As a result, the fMRI segment is expected to grow at a CAGR of 3.2% during the forecast period.

Based on the Application, the Functional Brain Imaging Systems Market is sub-segmented into hospital and diagnostic imaging centers. The ambulatory surgery center dominates the global market and was valued at US$ 1.9 Bn. in 2021. The increasing presence of diagnostic imaging centers in rural cities and the low cost associated with them are creating a huge demand for functional brain imaging in the market. The availability of experienced professionals and growing development in ultrasound technology are adding an advantage to the market growth. In 2021 the number of diagnostic imaging center present in the USA are 10116 and this number is expected to increase by 18.3% by 2029.
Functional Brain Imaging Systems Market Regional Insights:
In 2021, North America held the largest share in the Functional Brain Imaging Systems market. The increasing prevalence of brain cancer and neurodegenerative disorders are the main reason driving the functional brain imaging systems market in this region. Furthermore, the availability of reimbursement programmers in North America is expected to boost the market during the forecast period. In January 2022, a researcher in the RADIOLOGICAL SOCIETY OF NORTH AMERICA found that MRI helped in finding the ‘Foetal alcohol syndrome’ in pregnant women. And it is estimated that more than 9.8 % of women consume alcohol during pregnancy and one in 70 pregnancies suffer from this syndrome. And in January 2022, the “Medical University of South Carolina” developed an MRI scan in an ambulance. This helps in reducing the time for stroke patients between ambulances to the hospital until treatment can begin.

The objective of the report is to present a comprehensive analysis of the global functional brain imaging systems market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Functional Brain Imaging Systems Market dynamics, structure by analyzing the market segments and projecting the Functional Brain Imaging Systems Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Functional Brain Imaging Systems Market make the report investor’s guide.
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Functional Brain Imaging Systems Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 4.67 Bn.


Forecast Period 2023 to 2029 CAGR:
6.8 %
Market Size in 2029:
US $ 7.40 Bn.


 Segments Covered:
by Type
Functional MR imaging (fMRI) systems
Functional near infrared spectroscopy (fNIRS) systems
Positron emission tomography (pet) system


by Application
Hospital
Diagnostic imaging center



Functional Brain Imaging Systems Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Functional Brain Imaging Systems Market Key Players
1. Hitachi medical systems
2. Eb neuro s.p.a.
3. Minfound medical systems co., ltd
4. Medtronic plc
5. Koninklijke philips n.v.
6. Siemens healthineers
7. Ge healthcare
8. Phillips
9. Canon medical systems
10.Aspect imaging
11.Neusoft medical systems
12.Aurora imaging technology
13.Mindray
14.Thermo fisher scientific, inc
15.Shimadzu Corporation
16.Nihon kohden
17.Elekta
18.Toshiba Corporation
19.Xingaoyi

Frequently Asked Questions:

1. Which region has the largest share in Functional Brain Imaging Systems Market?
Ans: North-America held the largest share in 2022.

2. What is the growth rate of the Functional Brain Imaging Systems Market?
Ans: The Market is growing at a CAGR of 6.8 % during the forecasting period 2023-2029.

3. What segments are covered in Market?
Ans: Functional Brain Imaging Systems Market is segmented into type and application.

4. What is the study period of this market?
Ans: The Functional Brain Imaging Systems Market is studied from 2022 to 2029.

5. Who are the key players in Market?
Ans: Hitachi Medical Systems, EB Neuro S.p.A., MinFound Medical Systems Co., Ltd, Medtronic Plc, Koninklijke Philips N.V., Siemens Healthineers, GE Healthcare, Phillips, Canon Medical Systems, Aspect Imaging, Neusoft Medical Systems, Aurora Imaging Technology, Mindray, Thermo Fisher Scientific, Inc, Shimadzu Corporation, Nihon Kohden, Elekta, Toshiba Corporation, Xingaoyi