Multimodal Image Fusion Software Market Insights & Industry Outlook to 2028

Multimodal Image Fusion Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Preclinical Multimodal Imaging and Clinical Multimodal Imaging) and Application (Hospitals, Diagnostic Centers, and Academic and Research Institutes)

  • Report Code : TIPRE00018595
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 144
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The multimodal image fusion software market was valued at US$ 298.29 million in 2020 and is projected to reach US$ 552.30 million by 2028; it is expected to grow at a CAGR of 8.1% during 2021–2028.

The growth of the multimodal image fusion software market is attributed to the increasing government and private spending on healthcare infrastructure. Healthcare spending by government and private organizations has been increasing over the years. These high spending across the world is enhancing the healthcare infrastructure and influencing the adoption of various technologically advanced solutions for improving their treatment plans and diagnostic procedures. At present, the US ranks first among developing countries in terms of healthcare spending. According to the Organization for Economic Co-operation and Development (OECD) data published in 2019, the US average healthcare spending was a whopping US$11,072 per capita. Similarly, in 2019, Switzerland had the second-highest healthcare spending, with nearly US$8,000 per capita expenditures, followed by Germany and Norway with per capita spending of about US$6,600 each. The other countries with high healthcare expenditure include Austria, Sweden, Netherlands, Canada, France, Ireland, Australia, Japan, Iceland, the UK, and Finland.

Impact of COVID-19 Pandemic on Multimodal Image Fusion Software Market

The COVID-19 outbreak has minimum or no impact on the global multimodal image fusion software market. The healthcare sector in many North American countries has remained unaffected during the COVID-19 pandemic. With the rising COVID-19 confirmed cases across the US, the UK, Germany, and India, the high prevalence of diseases other than other COVID-19 propels the demand for all healthcare equipment and solutions. For instance, according to Alzheimer Association as of 2020, there were ~5.8 million Americans suffering from Alzheimer’s disease. Thus, the COVID-19 pandemic has a negligible impact on the demand for multimodal image fusion software across the world.

Lucrative Regions in Multimodal Image Fusion Software Market

Lucrative Regions in Multimodal Image Fusion Software Market
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Market Insights–Multimodal Image Fusion Software Market

Rising Technological Developments in Medical Imaging

Medical imaging is the most significant and fundamental aspect of the diagnostic processor examinations. MRI scanners, CT scanners, ultrasound scanners, and other radiological instruments are used in the diagnostic process. There have been significant advancements in medical technology and imaging instruments over the last two decades. Moreover, the use of artificial intelligence (AI) in devices such as CT scanners, MRI scanners, and ultrasound scanners has also advanced the diagnostic industry, with improved diagnosis and treatment data analysis. Advancements such as the use of optical semiconductors technology for color projectors in imaging techniques and for ultrasound, and the use of 3D metamaterial to obtain high resolution and accurate images are expected to fuel the market growth during the forecast period. Further, the integration of radiology systems (RIS), picture archiving, and communication systems (PACS) that allow data collection in cloud systems are the latest technology in diagnosis. This also allows for the extraction of data from the procedure and clinical data for analytics and impressive reports. Thus, the constant technological advancements in the medical imaging sector are expected to influence the adoption of multimodal image fusion software across hospitals and diagnostics centers for better analysis of patient’s conditions, thereby contributing to the market growth.


Type-Based Insights

Based on Type, the multimodal image fusion software market is bifurcated into preclinical multimodal imaging and clinical multimodal imaging. The clinical multimodal imaging segment held a larger market share in 2020.

Application-Based Insights

Based on application, the multimodal image fusion software market is segmented into hospitals, diagnostic centers, and academic and research institutes. The diagnostic centers segment is projected to register the highest CAGR during the forecast period.

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Multimodal Image Fusion Software Market: Strategic Insights

multimodal-image-fusion-software-market
Market Size Value inUS$ 298.29 Million in 2020
Market Size Value byUS$ 552.30 Million by 2028
Growth rateCAGR of 8.1% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Players operating in the multimodal image fusion software market are mainly focused on the development of advanced and efficient products.

  • In 2021, Intrasense SA released a new software version Myrian 2.9. The new version of the medical imaging software had a more focus on new clinical features.
  • In 2020, aycan Medical Systems, LLC’s aycan workstation with imaging biometrics plug-in was featured in a study published in the American Journal of neuroradiology. The study compared the predictive performance of relative CBV standardization against relative CBV normalization for quantifying recurrent tumor burden in high-grade gliomas relative to posttreatment radiation effects.

The multimodal image fusion software market has been segmented as follows:

Multimodal Image Fusion Software Market– by Type

  • Preclinical Multimodal Imaging
  • Clinical Multimodal Imaging

Multimodal Image Fusion Software Market – by Application                          

  • Hospitals
  • Diagnostic Centres
  • Academic and Research Institutes

Multimodal Image Fusion Software Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Multimodal Image Fusion Software Market–Company Profiles

  • aycan Medical Systems
  • Brainlab
  • Bruker
  • FUJIFILM VisualSonics, Inc.
  • INFINITT
  • Mediso
  • Medtronic
  • NATIONAL INSTRUMENTS CORP.
  • PerkinElmer Inc.
  • ZEISS
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are reasons behind Multimodal image fusion software market growth?

Increasing government and private spending in healthcare infrastructure is driving the multimodal image fusion software market. Healthcare spending by government and private organizations has been increasing over the years. These high spending across the world is not only enhancing the healthcare infrastructure but also influencing the adoption of various technologically advanced solutions for improving their treatment plans and diagnostic procedures.

What are market opportunities for Multimodal image fusion software?

Rising technological development in medical imaging is creating opportunity in the market. Medical imaging is the most significant and fundamental aspect of the diagnostic processor examinations. MRI scanners, CT scanners, ultrasound scanners, and other radiological instruments are used in the diagnostic process. There have been significant advancements in medical technology and imaging instruments over the last two decades.

Which segment is expected to dominate the market in the forecast period?

The clinical multimodal imaging segment dominated the market in the year 2020. Clinical multimodal imaging is used for the diagnosis process. The clinical multimodal imaging segment growth is driven by the rising technological advancements in cardiac imaging. Moreover, multimodal imaging technology integrates several different imaging techniques to establish an accurate diagnosis of the disease.

The List of Companies - Multimodal Image Fusion Software Market

  1. aycan Medical Systems, LLC                  
  2. Brainlab AG              
  3. Bruker Corporation                
  4. FUJIFILM VisualSonics, Inc.    
  5. INFINITT North America Inc.                  
  6. Mediso Ltd               
  7. PerkinElmer, Inc.     
  8. Carl Zeiss Meditec                  
  9. MR Solutions Ltd.    
  10. Intrasense SA

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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