Brain Modalities and Software Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Brain Modalities and Software Market Trends & Growth Drivers

AI Integration in Medical Imaging Is Key Trend

• Artificial intelligence (AI) is rapidly being used in the field of brain imaging to increase image quality and diagnostic accuracy.
• AI innovations in medical imaging include image quality improvement, segmentation, and disease categorization automation.
• These advancements have resulted in a greater availability of supportive AI technologies to assist clinicians in evaluating images and making care decisions.
• The discipline of AI has grown significantly in recent years, and it is now being applied to brain imaging to increase image quality, shorten the time a patient needs to be inside a scanner, and aid in physician decision making and the clinical interpretation of images.
• In addition, various players are incorporating AI in brain imaging systems.
• For instance, in February 2024, Philips and Synthetic MR launched the Smart Quant Neuro 3D suite for advancing the diagnosis and treatment of dementia, traumatic brain injury, and multiple sclerosis. The new suite integrates the 3D SyntAc clinical application and AI-Driven SmartSpeed image-reconstruction technology of Philips with and the SyMRI NEURO 3D quantitative tissue assessment software of Synthetic MR.

Increasing Prevalence of Neurological Disorders To Propel Market Growth

• The growing number of people affected by non-communicable neurological disorders is leading to the increasing overall expenditures on treatment.
• As per the WHO, almost 3 billion people suffer from a neurological condition.
• According to a May 2023 article in The Lancet, the last three decades have seen an increase of 43%, 50%, and 85% in the number deaths, incidence, and prevalence of stroke, respectively.
• Further, almost 70 million cases of traumatic brain injuries are registered around the world each year.
• As the population grows and ages, governments will face an increase in the demand for neurological disorder diagnosis, treatment, rehabilitation, and support services.
• This is because the prevalence of major disabling neurological disorders rises sharply with age. As the majority of neurological diseases have few recognizable causes, new research is necessary to develop effective diagnosis, prevention, and treatment measures.

High Cost of Brain Imaging Hampers Market Growth

• The key restraint for the brain modalities and software market advance is the high cost of MRI, CT, and PET scanners.
• The cost of MRI scanners increases with field strength, while CT machines are priced based on the number of slices.
• Additionally, advanced imaging equipment, including PET and SPECT systems, are already costlier than conventional MRI and CT scanners.
• The same is the case with hybrid systems, which combine two modalities, such as PET/CT and PET/MRI.
• If AI and other kinds of advanced software is used, the allover investment in this technology increases even more.
• This is why primary-care clinics or family medical practices are not able to afford them.
• As a result, brain imaging is majorly performed at large tertiary-care private and public hospitals and well-funded diagnostic imaging centers.
• On average, out-of-pocket expenses for a brain CT scan in the U.S. can range from USD 800 to USD 5,000, while an MRI can cost between USD 1,600 and USD 8,400.
• Further, the addition of a contrast agent can raise costs by up to USD 300 per scan.
• With medical reimbursement policies still not standardized in many developing countries, this high cost discourages people to for a brain scanning except in emergencies.
• This can ultimately decrease the procurement of such equipment by mid-sized hospitals and diagnostic centers.

Brain Modalities and Software Market Analysis

Analysis by Patient Type

Adults hold the larger share in the market, of 65%, in 2024. This is because the chances of brain diseases, especially neurodegenerative diseases, is higher in grownups. For instance, every 5 years after the age of 65, the risk of Alzheimer’s disease doubles. Moreover, the average age for a Parkinson’s diagnosis is 60. In the same way, 74 is the most-common age for people to suffer from a stroke.

The pediatrics & infants bifurcation will witness the faster growth, at a CAGR of 7.5%, during the forecast period. While some neurological conditions are congenital, others can be caused by birthing mishaps, such as loss of oxygen and blood (asphyxia), buildup of fluid in the brain (hydrocephalus), excess bleeding in the brain (hemorrhage), viral or bacterial infection contracted during pregnancy, delivery, or after birth, and use of alcohol or drugs during pregnancy.

The following patient types have been studied:

• Adults (Larger Category)
• Pediatrics & Infants (Faster-Growing Category)

Analysis by Offering

The brain modalities bifurcation holds the major market share, in 2024. The usage of MRI, CT, PET, PET/CT, and PET/MRI systems for neuroimaging, for identifying diseases related to tumors and abnormalities, has gained popularity over the years. Brain imaging modalities are required at all stages of treatment, from diagnosis to follow-ups to the end of the treatment cycle. Some uses of these brain diagnostic systems include identifying the effects of a stroke, locating cysts and tumors, and finding swelling (edema) and bleeding.

The brain analysis software bifurcation is set to grow with the higher CAGR during the forecast period, of 7.7%. Conventional methods integrated with AI software are gaining popularity due to the faster and more-accurate results this way. While software solutions bring significant value to standalone imaging modalities in terms of quantitative assessments and diagnostic accuracy and precision, software adoption has been delayed in emerging economies of the LATAM and MEA regions. In comparison, developed regions, such as North America and Europe, have more easily integrated software into imaging technologies.

The report covers the following offerings:

• Brain Imaging Modalities (Larger Category)
• Brain Analysis Software (Faster-Growing Category)

Analysis by End User

Hospitals and clinics dominate the global brain modalities and software market in 2024, with a share of 55%. These places are usually the first choice of people with a neurological disease to go for a brain scan. Additionally, diagnostic centers often do not have a full-fledged emergency department, which is why acute cases of brain trauma and other mishaps are usually referred to tertiary-care hospitals.

The diagnostic imaging centers category is expected to grow the fastest. This will be because diagnostic imaging centers provide affordable brain monitoring and imaging services as compared to hospitals, clinics, and other ambulatory surgery centers. Other advantages of visiting a standalone diagnostic center are shorter wait times and more-personalized service.

We have analyzed the below-mentioned end users:

• Hospitals and Clinics (Largest Category)
• Ambulatory Surgery Centers
• Diagnostic Imaging Centers (Fastest-Growing Category)

Geographical Analysis

North America holds the largest share, of 45%, in the market in 2024. The rapid technology integration in the field of medical imaging, increasing need for software-based imaging solutions for effective diagnosis, and rising prevalence of neurological disorders drive the North American brain modalities and software market. The continent leads the global brain modalities market with its strong base of MRI, CT, and PET–CT scanner manufacturers. North America has one of the most-highly advanced healthcare systems in the world. The incorporation of AI in medical imaging has resulted in the creation of both AI-powered hardware devices (scanners) and software solutions for imaging and image interpretation.

APAC is expected to register the highest CAGR, of 8.0%, during the forecast period. The market growth in the region is primarily driven by the increasing healthcare expenditure, presence of a large number of market players, rising awareness regarding early disease detection through the use of advanced diagnostic imaging technologies, and increasing prevalence of brain diseases.

To raise awareness about diagnostic imaging procedures, several conferences and events are being organized in the region. For instance, the Radiology Asia 2019 conference was held in Singapore in April 2019. Some such recent and upcoming events in the region are the International Conference on Computational Neurology and Stroke Medicine (July 5; Hong Kong), International Conference on Clinical Neurology and Neurophysiology (July 10; Kathmandu, Nepal), International Conference on Pediatric Neurology and Medicine (July 12; Tokyo, Japan), and Asia Pacific Stroke Conference 2024 (September 25–28; Adelaide, Australia).

The following regions and countries have been studied for the report:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest and Fastest-Growing Country Market)
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest and Fastest-Growing Country Market)
  • India
  • Japan
  • Australia
  • South Korea
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest and Fastest-Growing Country Market)
  • South Africa
  • U.A.E.
  • Rest of MEA

Brain Modalities and Software Market Share

The brain modalities and software market is fragmented because multiple techniques are used to scan the brain, and specific companies often have the lead in specific modalities. Additionally, the vast variation in economic conditions, the state of the healthcare infrastructure, and regulatory environments lead to differences in the rates of adoption of these technologies across countries.

Brain Modality and Software Company News

• In June 2024, GE Healthcare and Salud Digna entered into a partnership to implement digital technologies to improve the efficiency and effectiveness of ultrasound, CT, and MRI systems in Mexico.
• In June 2024, Siemens Healthineers AG entered into a two-year partnership with the World Stroke Organization to advanced access to stroke diagnosis and treatment solutions in LMICs.
• In May 2024, GE Healthcare was contracted by Tampa General Hospital to supply its ultrasound and imaging systems.
• In April 2024, Koninklijke Philips N.V. signed a 10-year partnership agreement with Nicklaus Children’s Health System, under which the latter will utilize Philips’ Ingenia Ambition X MR, EPIQ CVx ultrasound, and AI-enabled radiology workflow solutions.