Asia Pacific Multimodal Image Fusion Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Preclinical Multimodal Imaging and Clinical Multimodal Imaging), and Application (Hospitals, Diagnostic Centers, and Academic and Research Institutes)
The multimodal image fusion software market in APAC is expected to grow from US$ 63.37 million in 2021 to US$ 125.43 million by 2028; it is estimated to reach a CAGR of 10.2% from 2021 to 2028. In the rapidly growing healthcare industry and emerging IT sector, the market for multimodal image fusion software is booming significantly. The rising prevalence of chronic and acute diseases, the increasing population, and the growing geriatric population are a few factors affecting the growth of the market. Therefore, it is necessary to enhance the quality of life through efficient and accurate diagnosis with the help of the solutions. Chronic diseases are medical conditions that continue for one year or more and require constant preventive inspections. Alzheimer’s and heart diseases are the leading chronic diseases responsible for maximum deaths and disabilities. These diseases require various imaging modalities for diagnostic and treatment monitoring purposes. The rising prevalence of chronic and acute diseases impacts the adoption of advanced diagnosis solution, thus propelling the multimodal image fusion software market growth.
The Asia Pacific multimodal image fusion software market, based on application, is segmented into hospitals, diagnostic centers, and academic and research institutes. The hospitals segment led the market in 2020. The hospital is an organization that provides healthcare services to people through complicated and specialized scientific equipment and team of trained staff educated in the challenges of modern medical science. Hospital employees use high-tech products to restore and maintain good health. Most of the surgeries and emergency treatments performed in hospitals require the analysis of various organs, tissues, and functions of body, which are completed accurately with the help of multimodal image fusion software. The growth of this segment is attributed to factors, such as the rising prevalence of various diseases, the increasing number of hospitals globally, and rapid growth in several surgical procedures.
APAC countries are among the highly populated countries in the world, which leads to a greater risk of spreading SARS-CoV-2. According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. Governments of APAC countries are taking several possible steps, such as the imposition of lockdown, to reduce the effect of the pandemic, which has been impacting the revenues of various businesses. China and India are among the leading manufacturing sectors and the worst-hit countries by the pandemic in the region. The healthcare sector has been progressing at an uninterrupted pace (apart from the COVID-19 treatment centers, which experienced a high demand due to constantly rising cases). China and India also reported a rising prevalence of acute diseases, such as heart diseases and Alzheimer’s disease, with the growing population.
The overall APAC multimodal image fusion software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the APAC multimodal image fusion software market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the APAC multimodal image fusion software market. Brainlab AG; Bruker Corporation; Carl Zeiss Meditec; FUJIFILM VisualSonics, Inc.; Intrasense SA; Mediso Ltd; MR Solutions Ltd.; and PerkinElmer Inc. are among the key players operating in the market in this region.
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