Exploring Key Insights of the Functional Brain Imaging System Market: Growth Prospects, Emerging Trends, and Opportunities
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What is the Expected Growth Rate of the Functional Brain Imaging System Market Based on Industry Projections?
The market size for functional brain imaging systems has seen significant growth over the past few years. It is projected to expand from $4.72 billion in 2024 to $5.08 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period is associated with factors such as rising incidences of serious diseases, a higher prevalence of neurological disorders, an uptick in traumatic brain injuries, an increase in cases of brain cancer, and a surge in demand for non-invasive and minimally invasive devices.
The market size of the functional brain imaging system is predicted to experience significant expansion in the approaching years, escalating to $6.71 billion in 2029 with a compound annual growth rate (CAGR) of 7.2%. Factors propelling this growth for the forecasted period include the surge in road accidents, escalating significance of brain imaging, heightened dementia instances, growing cognizance of neurodegenerative ailments, rise in the aged population, and increased spending in healthcare. The upcoming period forecasts trends like the assimilation of multi-modal imaging, the innovation of portable electroencephalogram (EEG) devices, improved electrode designs, the application of transcranial electrical stimulation (TES), as well as the incorporation of artificial intelligence (AI).
Which Factors Are Enhancing the Growth of the Functional Brain Imaging System Market?
The functional brain imaging system market’s expansion is anticipated to be driven by the rising occurrence of brain cancer. This medical condition, characterized by the uncontrolled growth of abnormal brain cells that form a tumor interfering with brain functionality, has become prevalent owing to factors like an aging population, improved detection methodologies, environmental hazards, and better reporting systems. Functional brain imaging systems play a crucial role in enhancing diagnostic accuracy, facilitating safer and more efficient treatment approaches, and offering continuous monitoring to boost patient outcomes. For instance, Cancer Australia, the government’s cancer control agency, reported in January 2024 that there were 1,552 brain cancer-related fatalities in Australia in 2021, with 945 males and 607 females. This figure is projected to escalate to 1,579 deaths in 2023, including 969 males and 610 females. Consequently, the upsurge in brain cancer cases is fueling the growth of the functional brain imaging system market.
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What Companies Are At the Forefront of Innovation in the Functional Brain Imaging System Market?
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
How Are Emerging Trends in Consumer Behavior Affecting the Functional Brain Imaging System Market?
Major firms in the functional brain imaging system market are concentrating on the development of novel solutions such as pulse sequence technology, with the aim of improving image clarity, increasing diagnostic precision, and reducing scanning times, all of which contribute to more effective and efficient brain imaging methods. Pulse sequence technology in these systems involves a set sequence of radiofrequency (RF) pulses and magnetic field gradients applied during an MRI scan to manipulate how the images are produced by the MRI system. For example, in July 2024, Fujifilm Holdings Corporation, a photography film production company based in Japan, introduced Aperto Lucent, an open MRI system with a strength of 0.4 tesla. The system uses RADAR motion compensating pulse sequence technology, which decreases the need for repeat scans and overcomes motion artifacts that can complicate MRI examinations. The APERTO Lucent utilizes Fujifilm’s well-known permanent magnet technology, which not only simplifies installation but also reduces operating costs by eliminating the need for extra equipment for maintaining the magnetic field.
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Which Key Segments Define the Structure of the Functional Brain Imaging System Market and Their Growth Potential?
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
What Regions Are Propelling Growth in the Functional Brain Imaging System Industry?
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.
What Does the Definition of the Functional Brain Imaging System Market Include?
A functional brain imaging system refers to a suite of technologies and methods used to visualize and measure brain activity, typically by tracking changes in blood flow, oxygenation, or metabolic processes that occur when specific brain regions are active. These systems are used in research and clinical settings to study brain function, understand neural mechanisms underlying various cognitive tasks, and diagnose neurological or psychiatric conditions.
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