Market Research ReportDec 2, 2022

Perfusion Imaging Market

Perfusion Imaging Market Research Report: Size, Share, Trend Analysis Application (Myocardial Perfusion Imaging, Ventilation Perfusion Imaging, Functional Brain Imaging, Others), Modality (Computed Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Nuclear Medicine) and By Region (Asia Pacific, Americas, Europe, Middle East and Africa) - Growth Outlook & Industry Forecast To 2024

Vertical: HealthcareBase Year: 2018

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Executive Summary

Perfusion Imaging Market — Snapshot

Market Size (2018)
$5.40B
Projected (2024)
$7.75B
CAGR (2016–2024)
5.8%
Key Players
11+

Perfusion imaging is a non-invasive imaging test that shows how the blood flows through the organs or tissues. This test is used for the diagnosis of various chronic disorders. Growing geriatric population, the rising adoption rate of perfusion imaging devices and techniques and increasing disease awareness are driving the growth of the global perfusion imaging market. However, stringent regulatory policies are likely to hamper market growth.

The global perfusion imaging market is expected to register a CAGR of 6.34% during the forecast period of 2019 to 2024. In 2018, the market was led by the Americas with a 38.0% share, followed by Europe and Asia-Pacific with shares of 35.1% and 19.5%, respectively.

The global perfusion imaging market has been segmented based on modality, application, and region.

Based on modality, the computed tomography (CT) scan segment accounted for the largest market share of 55.1% in 2018, with a market value of USD 2976.75 million, and is projected to register a CAGR of 6.56% during the forecast period.

Based on application, the myocardial perfusion imaging segment accounted for the largest market share of 48.1% in 2018, with a market value of USD 2601.80 million, and is expected to register a CAGR of 5.90% during the forecast period.

Key Insight

The Perfusion Imaging Market market is projected to grow at a CAGR of 5.8% from 2016 to 2024.

Market Performance Trend

Historical performance and future projections (2020–2030, USD Billion)

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Market Scope & Coverage

What this report covers

Geographic Coverage: This analysis covers 4 regions: Asia Pacific, Americas, Europe, Middle East and Africa.
Market Segmentation: The market is analyzed across 4 segments: Myocardial Perfusion Imaging, Ventilation Perfusion Imaging, Functional Brain Imaging, Others. Forecasts are provided for each segment from 2016 to 2024.
Competitive Landscape: 11 leading companies are profiled, covering market positioning, strategies, and recent developments.

Market Size (USD Mn)

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Market Overview

Perfusion Imaging Market — Growth Trajectory

Perfusion is the passage of fluid through the lymphatic system to organ or tissues. Perfusion imaging is the process by which passage of perfusion can be observed, recorded, and quantified. This is widely used for the diagnosis of chronic disorders such as cancer, brain tumor, and lung-related disorders. As has been a rising prevalence of the chronic disease, the demand for perfusion imaging is also increasing. Growing awareness regarding the benefit of perfusion imaging in patients, as well as healthcare professionals, would create a rise in demand for these products for the treatment of various chronic disorders. Hence it is expected to boost the growth of the global perfusion imaging market.

Perfusion Imaging Market — Growth Trajectory

Myocardial Perfusion Imaging

Ventilation Perfusion Imaging

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Market Size Trend (USD Mn)

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Market Dimensions

How this market is segmented

Application is analyzed as a distinct market dimension.
Modality is analyzed as a distinct market dimension.

Geographic Analysis

Regional market breakdown

Asia Pacific market size reached $946.56M in 2016 and is projected to reach $1.59B by 2024, growing at a CAGR of 6.7%.
Americas market size reached $1.90B in 2016 and is projected to reach $2.81B by 2024, growing at a CAGR of 5.0%.

Europe market size reached $1.72B in 2016 and is projected to reach $2.77B by 2024, growing at a CAGR of 6.1%.
Middle East and Africa market size reached $364.82M in 2016 and is projected to reach $577.77M by 2024, growing at a CAGR of 5.9%.

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Research Methodology

Perfusion Imaging Market — How We Researched This Market

This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.

Base Year
2018
Historical Period
2016 – 2017
Forecast Period
2019 – 2024
Primary Interviews
150+

Research Process

Historical data (2016–2018) and forecast period (2018–2024)

Problem Definition

Market scoping
Objective setting
Framework design

Secondary Research

Literature review
Data mining
Trend analysis

Primary Research

Expert interviews
Field visits
Surveys

Data Analysis

Quantitative modeling
Statistical testing
Validation

Insights & Reporting

Synthesis
Recommendations
Visualization

Research Depth

Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.

Historical vs. Forecast Data

Historical (observed)

Forecast (modelled)

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Competitive Landscape & Porter's Five Forces

Perfusion Imaging Market — Competitive Analysis

The global perfusion imaging market is profitable, both for existing players as well as new entrants. An intense rivalry is observed among existing manufacturers in the market. Our analysis revealed that market players had adopted different strategies and launched products to expand their business and secure their position in the global perfusion imaging market. Growing prevalence of cardiovascular and neurological diseases, increasing geriatric population, and advancement in technology are key factors that determine the market growth. In recent years, strategies adopted by major players include product launches, acquisitions, and approvals, which have been used as market penetration strategies and a means to reduce competition.

The growth of market vendors is dependent on market conditions, government support, and industry development. Thus, vendors should focus on geographic expansion and product improvement. International players are likely to strengthen their presence worldwide during the forecast period through acquisitions and regulatory approvals. It has also been predicted that improvement of the global economic scenario combined with efforts to enhance infrastructure in emerging nations, can fuel the market growth, making it an ideal time to launch products and increase the global market share.

Vendors with better technical and financial resources could develop innovative products. Therefore, vendors must develop new technologies to stay abreast of emerging technologies that could affect the continuing competitiveness of their product lines in the market.

Leading Players in Terms of Number of Developments in the Perfusion Imaging Market

Key Development Analysis

Partnership/Strategic Agreement

Expansion

Bargaining Power of Suppliers

Bargaining power of suppliers in the global perfusion imaging market is medium. The suppliers in the global perfusion imaging industry are medical device manufacturers. Currently, a moderate number of suppliers are present in the market due to stringent government regulations and high opportunities. Major players are accounting for a significant share of the market. Switching cost of the suppliers is medium because suppliers tend to enter into long-term associations, partnership, and deals with the companies that sell perfusion imaging.

Bargaining Power of Buyers

The bargaining power of the buyers is medium in the global perfusion imaging market due to the presence of many buyers of perfusion imaging. The buyers of perfusion imaging are moderately inclined towards product manufacturers. Moreover, the buyers can exert moderate pressure on the manufacturers as they already provide high-quality products and services. The market is captured by a limited number of players which indicates oligopoly in the market which leads to fewer options with regards to product offering thus the bargaining power of buyers tends to be medium in this market.

Threat of New Entrants

The threat of new entrants is low to medium in the global perfusion imaging market. Any company trying to enter the perfusion imaging market is required to accept the regulatory standards and product should get approval by regulatory authorities. This market is also characterized by a reasonable degree of brand loyalty, where establishing a brand name is difficult for new entrants. Moreover, products which are already available in the market are patented, and the cost involved in R&D is high, which creates unfavorable conditions for the new entrants in the market.

Threat of Substitutes

The threat of substitutes in the global perfusion imaging market is medium to high. Substitutes pose a moderate to high threat in the global perfusion imaging market due to the availability of similar products which are offered by major market players. However, the excellent product quality and brand loyalty of customers when it comes to emergency care products. For instance, a huge number of imaging device companies such as Koninklijke Philips NV, Siemens, GE Healthcare among others develop numerous imaging equipment in the form of CT scanner, MRI, and other devices for this market.

Intensity of Rivalry

The degree of competition in the global perfusion imaging market is high. Many manufacturers are present in the market. The market is shared by many major players, and their market share is fixed, which indicates the intense rivalry. Players are engaged in developing a process to lower their manufacturing cost to overcome the competition. Moreover, the players are also developing advanced techniques to differentiate their product from their rivals.

Quantitative Analysis

Regional Breakdown

Regional market breakdown for Perfusion Imaging Market.

Regional Market Size (USD Mn)

Market estimates by geography (2024)

USD Mn

InsightAmericas leads with $2.81B by 2024, while Asia Pacific is projected to grow fastest at a 6.7% CAGR.

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Regional Market Data

REGION	2016	2018	2024	CAGR	SHARE
Asia Pacific	$946.56M	$1.20B	$1.59B	6.7%	20%
Americas	$1.90B	$2.25B	$2.81B	5.0%	36%
Europe	$1.72B	$2.13B	$2.77B	6.1%	36%
Middle East and Africa	$364.82M	$447.75M	$577.77M	5.9%	7%
Total	$4.93B	$6.03B	$7.75B	5.8%	100%

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Segment Revenue (2024)

Myocardial Perfusion Imaging

Ventilation Perfusion Imaging

Functional Brain Imaging

Others

01345

Myocardial Perfusion Imaging47%
Ventilation Perfusion Imaging26%
Functional Brain Imaging21%
Others5%

Total Market Size

$7.75B

Market by Segment (2024)

APPLICATION	REVENUE ($B)	GROWTH RATE	MARKET PENETRATION
Myocardial Perfusion Imaging	$3.64B	5.4%	47%
Ventilation Perfusion Imaging	$2.04B	6.3%	26%
Functional Brain Imaging	$1.66B	6.1%	21%
Others	$405.19M	5.9%	5%

* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.

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Analytics

Perfusion Imaging Market — Key Findings

Analytical insights on Perfusion Imaging Market covering market dynamics, competitive landscape, and strategic outlook.

Key Analytical Findings

The Perfusion Imaging Market market is projected to reach $7.75B by 2024, growing at 5.8% CAGR. The Myocardial Perfusion Imaging segment holds the largest share.

Market Dynamics

Perfusion is the passage of fluid through the blood vessels or the lymphatic system to an organ or a tissue. The practice of perfusion imaging is the process by which the perfusion can be observed, recorded, and quantified. The term perfusion imaging encompasses a wide range of medical imaging modalities. Perfusion imaging may involve radioactive materials called tracers, which mix with blood and are taken up by the organ to be studied. A special gamma camera takes pictures of the organ to reveal qualitative and quantitative changes based on the supply of blood.

The global perfusion imaging market is mainly driven by the growing prevalence of cardiovascular and neurological diseases, increasing geriatric population, and advancements in technology. High treatment cost, overpriced devices, and poor hi-tech healthcare penetration in lower income countries may slow down the growth of the market in the future. On the other hand, recent technological advancements are likely to offer lucrative opportunities for the growth of the market.

Market Drivers

With increasing cases of geriatric population, various government and private associations are trying to make people aware of chronic diseases and related complications. Some of the governments in Asia are taking different approaches to healthcare financing. For instance, the Indian government conducts a program named, the National Program for Health Care of the Elderly (NPHCE), through which it provides promotional, preventive, curative, and rehabilitative services for elderly patients. According to the Economic and Social Commission for Asia and the Pacific (ESCAP) in 2016, approximately 12.4 percent of the population in the region was 60 years or older, but this is projected to increase to more than a quarter or 1.3 billion people by 2050. Owing to the rising complications of heart and brain-related diseases, various government bodies and private foundations are actively participating in the improvement of healthcare grants and reimbursement policies. For instance, as per the United Nations Population Fund (UNFPA), population aging is an important part of the global population dynamics and a priority area for UNFPA. In this sense, UNFPA in Asia and the Pacific supports countries in developing aging situation analysis and research to guide national policies and strategies at the national level for the promotion of the well-being of the older ones. The rising awareness about age-related degenerations and related complications push the demand for perfusion imaging diagnostic tools.

Market Opportunities

Developing economies pose an opportunity for various markets as they have undeveloped research and development sectors owing to which they are unable to address upcoming health challenges. Despite the huge demand, Africa is dependent on imported medicines and other health technologies. Although there is a high requirement for treatment, poor economic conditions lead to the slow growth of the healthcare industry within the region. As per a survey carried out by the National Centre for Biotechnology Information (NCBI) in 2016, around 300 people were suffering from ischemic heart disease in China. This huge population affected with chronic disease in developing countries serves as a strong opportunity for key players operating in the perfusion imaging market as they require various diagnostic tests for their treatment.

Market Restraints

Regulatory compliance is the primary hurdle that is challenging the perfusion imaging market. The growing prevalence of ischemic heart diseases, as well as increased awareness regarding the benefit of perfusion imaging among non-specialists as well as healthcare professionals, have contributed to the rapid growth in the demand for perfusion imaging for the treatment of various chronic and neurological disorders. Besides, Indian manufacturers are investing more in perfusion imaging to comply with the US FDA regulations to obtain contracts from US-based companies. Although these regulations serve to improve and maintain the quality of diagnostic tests, they also curb the growth of the perfusion imaging market, especially in developing regions such as Asia-Pacific.

Macroeconomic Indicators

The healthcare expenditure across the globe is continuously increasing. During the last decades, healthcare expenditure in regions such as the Americas and Europe had been increasing simultaneously. According to the Centers for Medicare & Medicaid Services, in 2015, the US healthcare spending increased to 5.8%, reaching USD 3.2 trillion. In 2016, the healthcare spending also increased in North America. Canadian healthcare specifically was stressed by an advancing demographic move. According to the International Monetary Fund (IMF), the US economy grew by 1.6% in 2016. In 2017, due to changes in regulatory policies, the R&D investment was affected a lot. In 2016, R&D spending of the US was 527.5 billion. The increase of insurance coverage because of health care reform (Affordable Care Act, 2010) in the US additionally prompted an expansion in health care spending. Furthermore, in 2016, healthcare organizations found liberation from a special tax on medical devices (Medical Device Excise Tax Act, 2013).

Healthcare spending has expanded slightly in the UK and Germany. Western Europe continues to see a need to save money on healthcare because of a slight drop in financial growth and obstinate economic pressure. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014. France recorded the second highest level of current healthcare expenditure of EUR 237 billion, followed by the UK (EUR 223 billion) in the same year. Mandatory healthcare schemes and compulsory medical savings accounted for the overall spending in Germany, Slovakia, and the Netherlands in 2014. Additionally, due to strong government support, investment in research and development in Europe has also increased. According to the report published in the R&D magazine, Europe held 20.8% of the global R&D spending in 2017.

Strategic Outlook and Future Directions

Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.

Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.

Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.

Market Value by Segment (2024)

Value (USD Mn)

Myocardial Perfusion Imaging

Ventilation Perfusion Imaging

Functional Brain Imaging

Others

Companies

Key companies profiled in Perfusion Imaging Market

Profiles of 105 companies operating in the Perfusion Imaging Market market, including revenue, employee count, and market positioning where available.

Region

Industry

Founded Year

Showing 105 of 105 companies

Neusoft Co

Neusoft Corporation

Healthcare

Company Headquarters: Shenyang, Liaoning China Founded: 1998 Workforce: 10,001 Company Working: Neusoft Corporation (Neusoft) deals in providing innovative information technology-enabled solutions and services to meet the unmet demands of its customers. Neusoft was established at Northeastern University, China. It has ten software research and development bases, eight regional headquarters, and a comprehensive marketing and service network covering over 60 cities across China, as well as subsidiaries in the US, Europe, Japan, the Middle East, and South America. It helps industry customers establish best practices in business development and management.

Shenyang, Liaoning China

Advantis M

Advantis Medical Imaging

Healthcare

Company Headquarters: Eindhoven, Netherlands Founded: 2016 Workforce: ~1000 Company Working: Advantis Medical Imaging is a leading company in the production of medical imaging devices. It is a fully integrated life sciences company that provides research, product development, manufacturing, and distribution of medical technologies. It is an outstanding worldwide source of regenerative medicine technology, clinical research, education, and training for the constantly evolving healthcare industry. Its sole focus is on products that are based in medical imaging.

Eindhoven, Netherlands

Perimed

Healthcare

Company Headquarters: Ardmore, Pennsylvania, US Founded: 1988 Workforce: ~100 Company Working: Perimed is one of the leaders in manufacturing perfusion imaging devices. It provides instruments, software, and expertise to enable accurate assessment of the microcirculation. The company is involved in developing, manufacturing, and commercializing its pharmaceutical devices and biological products in the US. The products offered by it are laser doppler, laser speckle, and transcutaneous oxygen (tcpO2, TCOM), to name a few.

Ardmore, Pennsylvania, US

General El

General Electric Company

Equipment & Machinery

United States, North America

Shimadzu Corporation

United States, North America

Novavax, I

Novavax, Inc.

Healthcare

Company Headquarters: Maryland, US Founded: 1987 Workforce: ~2,500 Company Working: Novavax, Inc. is a biotechnology company that commercializes and develops vaccines to prevent a wide range of infectious diseases. It designs recombinant nanoparticle vaccine technology that produces a strong immune response against a variety of pathogens. It is partnered with leading biopharma organizations, government agencies, research institutions, and foundations, namely the Coalition for Epidemic Preparedness Innovations (US), the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (US), the Serum Institute of India Pvt. Ltd. (India), SK Bioscience (South Korea), CPL Biological (India), and Takeda Pharmaceuticals (US). It has seven research and manufacturing facilities. It has presence in regions namely North America, Europe, and the Middle East and Africa

Page 1 of 18

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About the Author

Healthcare Research Team

Healthcare

Our healthcare desk at Wantstats is staffed by a mix of clinical-market analysts and a senior researcher who track drug approvals, device launches, and provider economics as they happen — not just at reporting time. Every figure in this report is checked against primary interviews, regulatory filings, and our own proprietary datasets before it goes to print.

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Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.

Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.

Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.

Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.

Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.

Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Perfusion Imaging Market

Perfusion Imaging Market Research Report: Size, Share, Trend Analysis Application (Myocardial Perfusion Imaging, Ventilation Perfusion Imaging, Functional Brain Imaging, Others), Modality (Computed Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Nuclear Medicine) and By Region (Asia Pacific, Americas, Europe, Middle East and Africa) - Growth Outlook & Industry Forecast To 2024

Starting from

$4,950

Perfusion Imaging Market

Key Insight

Market Performance Trend

Market Scope & Coverage

What this report covers

Perfusion Imaging Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Perfusion Imaging Market — Competitive Analysis

Regional Market Data

Segment Revenue (2024)

Segment Market Share

Market by Segment (2024)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Macroeconomic Indicators

Strategic Outlook and Future Directions

Market Value by Segment (2024)

About the Author

Healthcare Research Team

Market Performance Trend

Perfusion Imaging Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Perfusion Imaging Market — Competitive Analysis

Regional Market Data

Segment Revenue (2024)

Segment Market Share

Market by Segment (2024)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Macroeconomic Indicators

Strategic Outlook and Future Directions

Market Value by Segment (2024)

About the Author

Healthcare Research Team

Save over 20% on
Annual Subscription

Save over 20% on
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