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Analysis of the US Molecular Imaging Informatics Market

  • July 2014
  • 56 pages
  • Frost & Sullivan
Report ID: 2240521

Summary

Table of Contents

Growth Opportunities in Nuclear and PET Imaging Informatics Subsist Despite Downward Pressures on Equipment Markets

This study provides an analysis of the US market for molecular imaging informatics solutions including nuclear imaging informatics, PET imaging informatics, and multimodality image fusion and comparison. The study assesses the size of the market based on its historic growth between 2010 and 2013, and projects future growth based on the current drivers and restraints, as well as the dynamics taking place in the broader markets for imaging equipment, advanced visualization, radiology and cardiology PACS.

Key Findings
-Historically, the molecular imaging informatics market has behaved mostly as an ancillary market to the imaging equipment market, consisting mainly of the bundled sale of stand-alone scanner workstations alongside new imaging equipment.
-While alternate, more IT-focused deployment models are developing faster, making the market slightly less tied to new imaging equipment sales, the molecular imaging informatics market remains largely dependent on new equipment sales.
-As a result of this dependency and the downward pressure affecting both the nuclear medicine and PET imaging markets, market revenue declined considerably from 2010 to 2013, losing as much as% of its value over the last years.
-Given the high level of market penetration of these legacy solutions, market growth hinges almost exclusively on imaging equipment and software replacement and upgrades.
-The main replacement drivers for molecular imaging informatics solutions include the obsolescence of an aging installed base of equipment and workstations, the emergence of new PET and SPECT clinical applications, and growing customer demand for server-based and multi-modality advanced visualization solutions.
-In addition, the need to support higher image quantification and analytical capabilities, as well as automation features driving workflow efficiencies, especially for PET imaging, ensure the viability of a replacement market over the long term.
-However, these growth factors are not strong enough to outweigh the restraints that have been holding market growth back. As a result, the size of the molecular imaging informatics market has shrunk consistently throughout the last few years.
-Valued at more than $ million pre-2008, the molecular imaging informatics market has shrunk to $ million in 2013 (a historically low value). Market revenue is only expected to revert to positive growth starting in 2016, growing at a CAGR of % between 2013 and 2017 to reach $million in 2017.
-PET imaging informatics are exhibiting healthier growth momentum than SPECT imaging informatics, owing to a less saturated market offering a larger number of net new market opportunities as well as an expanding volume of new PET clinical applications.
-Of the various deployment models, the one based on multi-modality advanced visualization solutions is that which generates the strongest growth, mainly due to the Big Three imaging equipment original equipment manufacturers’ (OEMs) forays in this area.
-Owing to its large installed base and historically strong clinical application business, GE Healthcare remains the revenue market share leader in this market, although Siemens Healthcare and Philips Healthcare are both narrowing the market share gap.

Methodology
-Sources of information used in this study include primary interviews with manufacturers, healthcare providers, and thought leaders in the healthcare field as well as secondary research.
-This approach comes with limitations, such as not all manufacturers are willing to share information or report sales details, and reported information often does not cover all distribution channels. All sources were employed to try to limit bias and reconcile differing estimates leading to these consensual estimates reported by Frost & Sullivan.
-Quantitative estimates were determined based on information obtained through primary research interviews with market participants and were cross-correlated using public filings, secondary research, and mathematical models.
-Forecast projections and compound annual growth rates (CAGRs) are based on analysts’ assessments of the anticipated net effects of ongoing trends in the market and the macro economy, taking into account the current pipeline, projected growth, and industry consensus.
-Only aggregate calculations and estimates at a national level, including the United States, have been utilized in this study. Therefore, the data should not be considered representative of an actual facility or group of facilities.
-Despite making every attempt to foresee upcoming high-impact factors, unexpected shifts in demand that result from unforeseen price changes, regulatory changes, sudden changes in patient or end-user characteristics, or any other event that is not known during the period of market research are not reflected in the market forecasts.

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