The global molecular imaging probe market is expected to grow modestly due to a variety of barriers that are hindering faster growth, according to a new market research report.
Market research firm GlobalData stated that the market for molecular imaging probes is valued at about $1.3 billion. The market is expected to expand at a compound annual growth rate of 5% in the U.S., the company said.
Hurdles that are impeding growth include the costs associated with molecular imaging procedures, such as capital investment required for acquiring imaging equipment and the costs to develop imaging probes under the current regulations. The lack of reimbursement for molecular imaging techniques is also a problem.
On the other hand, the growth of personalized medicine and the increasing need to diagnose diseases early for better and cost-effective treatment are positive drivers. In addition, many more products in early development are showing promise, which offers opportunities for companies that innovate or develop either imaging probes or techniques that could fulfill unmet needs.
