Exploring Key Insights of the Functional Brain Imaging System Market: Growth Prospects, Emerging Trends, and Opportunities
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How has the functional brain imaging system market grown over the years?
The market size for functional brain imaging systems has seen considerable growth in the past few years. The market value is projected to rise from $4.72 billion in 2024 to $5.08 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.6%. The spurt in growth during the historical phase is due to several factors, such as a surge in life-threatening diseases, a rise in cases of neurological disorders, an increase in traumatic brain injuries, escalating cases of brain cancer, and a growing preference for non-invasive and minimally invasive devices.
What Is the forecasted market size and growth rate for the functional brain imaging system market?
In the coming years, the market for functional brain imaging systems is slated for robust expansion, with a predicted value of $6.71 billion in 2029, reflecting a compound annual growth rate (CAGR) of 7.2%. This growth during the projection period can be linked to factors such as an uptick in road mishaps, the growing recognition of the value of brain imaging, the escalating number of dementia patients, heightened awareness of neurodegenerative diseases, an expanding elderly population, and increased investment in healthcare. Key trends anticipated during this period involve the amalgamation of multi-modal imaging, the creation of portable electroencephalogram (EEG) equipment, sophisticated electrode design, transcranial electric stimulation (TES), and the incorporation of artificial intelligence (AI).
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What are the major factors driving growth in the functional brain imaging system market?
The escalating occurrence of brain cancer is anticipated to stimulate the expansion of the functional brain imaging system market. Brain cancer, a condition where the brain’s abnormal cells proliferate unrestrained, forming a tumor that disrupts brain function, contributes to its prevalence. The aging population, superior detection techniques, environmental hazards, and enhanced reporting constitute some of the contributing factors. Functional brain imaging systems strengthen diagnostic accuracy, steer safer and more potent treatment methods, and provide continuous monitoring, thus maximizing results for patients with brain cancer. As an illustration, Cancer Australia, a government cancer control agency, reported in January 2024 that there were 1,552 brain cancer deaths in Australia in 2021 (945 males and 607 females). This figure is projected to escalate to 1,579 deaths in 2023 (969 males and 610 females). Consequently, the rising occurrence of brain cancer is fuelling the expansion of the functional brain imaging system market.
What key areas define the segmentation of the global functional brain imaging system Market?
The functional brain imaging system market covered in this report is segmented –
1) By Type: Functional Magnetic Resonance Imaging (fMRI) Systems, Functional Near Infrared Spectroscopy (fNIRS) Systems, Positron Emission Tomography (PET) System, Others Types
2) By Application: Hospital, Diagnostic imaging center, Other Applications
3) By End-User: Neurology, Psychiatry, Oncology, Cognitive Science
Subsegments:
1) By Functional Magnetic Resonance Imaging (fMRI) Systems: Research-Grade fMRI Systems, Clinical fMRI Systems, High-Field fMRI Systems, Resting-State fMRI Systems
2) By Functional Near Infrared Spectroscopy (fNIRS) Systems: Portable fNIRS Systems, Multi-Channel fNIRS Systems, Wearable fNIRS Devices, Clinical fNIRS Systems
3) By Positron Emission Tomography (PET) Systems: Whole-Body PET Systems, Dedicated Brain PET Systems, PET/CT Hybrid Systems, PET/MRI Hybrid Systems
4) By Other Types: Electroencephalography (EEG) Systems, Magnetoencephalography (MEG) Systems, Diffusion Tensor Imaging (DTI) Systems, Transcranial Magnetic Stimulation (TMS) Systems
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What are the top market players propelling the growth of the functional brain imaging system industry?
Major companies operating in the functional brain imaging system market are Siemens Healthineers AG, General Electric HealthCare Technologies Inc., NordicNeuroLab AS, Koninklijke Philips N.V., Shimadzu Corporation, Toshiba International Corporation, Elekta AB, Canon Medical Systems Corporation, Cortech Solutions Inc., Compumedics Ltd., Brain Products GmbH, Aspect Imaging Ltd., ANT Neuro GmbH, BIOPAC Systems Inc., Neuroelectrics Corporation, Twente Medical Systems International(TMSI) B.V., Advanced Brain Monitoring Inc., Gowerlabs Ltd., Artinis Medical Systems B.V., NIRx Medical Technologies LLC
What are the key trends shaping the future of the functional brain imaging system market?
Leading companies in the functional brain imaging system market are concentrating on the development of groundbreaking solutions like pulse sequence technology. This technology aims to enhance image resolution, boost diagnostic precision, and decrease scan times, resulting in more efficient and effective brain imaging procedures. Pulse sequence technology in these systems refers to the use of synchronized radiofrequency (RF) pulses and magnetic field gradients during an MRI scan to manipulate how images are created by the MRI system. For example, in July 2024, Fujifilm Holdings Corporation, a photography film manufacturer based in Japan, introduced Aperto Lucent, an open 0.4-tesla MRI system. This system features RADAR motion compensating pulse sequence technology, which curbs the necessity for re-scans and tackles motion artifacts, often a complex issue in MRI exams. The APERTO Lucent uses Fujifilm’s famous permanent magnet technology, which simplifies installation and cuts down operational costs by lessening the requirement for supplementary equipment to maintain the magnetic field.
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What regions are dominating the functional brain imaging system market growth?
North America was the largest region in the functional brain imaging system market in 2024. The regions covered in the functional brain imaging system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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