Scanning the Future of Functional Brain Imaging Market: Newer Technologies to Offer Greater Opportunities

In recent years, the healthcare industry has been moving towards a more tailored, value-based, and patient-centric approach by providing personalized solutions for the patients. Significant advances and innovations in biomedical imaging, functional brain imaging in particular, are playing key roles in such approach, as they addresses the current needs for specific prevention, therapy response  monitoring, treatment, and image-guided surgery, if necessary.

In the current scenario, rising incidence of neurological disorders such as Alzheimer’s disease, dementia, and epilepsy, especially among rapidly growing geriatric population, has led to a surge in the demand for functional brain imaging. In addition, rapid penetration of disruptive technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) have given medical equipment companies to claim their place at the forefront of innovation. Moreover, medical imaging including functional brain imaging is likely to benefit the most from these technologies, as they generate large sets of digitized data which can be subjected to advanced analytics.

As per a new business intelligence report published by Persistence Market Research (PMR), the global functional brain imaging systems market – which took a huge step forward with the introduction of function magnetic resonance imaging (fMRI) – is projected to record a CAGR of ~7% during the period, 2019-2029.

Broader Trends Pushing Innovations in Functional Brain Imaging Systems

The combination PET (positron emission tomography) and MRI has been garnering significant traction as a viable hybrid brain imaging technique. This is particularly resulting from improved spatial resolution, wider availability of MRI scanners outside of hospitals, and the ability to gather information on the brain’s response to individual stimuli. Further, in order to align with ever-evolving trends and the urgency to provide real-time results, manufacturers have been focusing on developed durable, miniaturized, and portable versions of functional brain imaging systems.

In the view of growing preference for non-invasive brain sensing along with real-time imaging and monitoring, the use of functional near-infrared spectroscopy (fNIRS) in cognitive neuroscience is likely to gather pace in the coming years. High portability and sophisticated aspects of fNIRS have also made it suitable for range of patient pool, from newborns to elderly demographic. Innovations have been further forthcoming with the emergence of 3D visualization, virtual reality, and image-guided intervention.

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North America Leads Gains, East Asia Presents Newer Opportunities

North America continues to remain at the forefront of the functional brain imaging systems market, with strong presence of market players, skilled professionals, advanced healthcare systems, and favorable reimbursement policies. On the other hand, market consolidation in developed as well as developing nations in East Asia is likely to remain a key to gaining distinct competitive edge, as the governments in the region are heavily investing in the development of healthcare industry amid the rise in healthcare expenditure per capita.