The global medical imaging phantoms market size is anticipated to reach USD 212.4 million by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 5.2% from 2020 to 2027. Diagnostic radiology is widely adopted for precision diagnosis of brain injuries, cancer, and other diseases. In addition, computed tomography (CT) scan and magnetic resonance imaging (MRI) are widely used techniques. These phantoms help in enhancing the efficiency of these imaging devices by helping medical experts in detecting, interpreting, analyzing, and evaluating information required for treatments. Therefore, the increasing adoption of these devices for the diagnosis of severe diseases is expected to drive the market growth.
Effective
reimbursement scenario of medical imaging and growing competition to provide
advanced technologies are a few factors driving the adoption of the product.
Moreover, the growing participation of key players in various radiology
conferences is expected to drive the adoption of these devices and their
respective phantoms. The increasing number of preclinical studies to understand
the effectiveness of these phantoms for hybrid imaging devices is expected to
expand the growth potential in the coming years.
The
introduction of advanced materials and production techniques are some of the
major factors expected to strengthen the applications of these phantoms for
specific diseases. The introduction of advanced simulating phantoms is
anticipated to provide deep insights on actual dynamics at a cellular level,
thus enhancing the precision in diagnostics.
These
devices have various associated advantages, which is a key factor driving the
market growth. For instance, realistic medical imaging phantoms of organs and
tissues are being developed using 3D technology to enhance the performance of
medical imaging devices. This, in turn, is expected to drive the medical
imaging phantom market growth over the forecast period.
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Medical Imaging
Phantom Market Report Highlights
- X-ray phantoms held the largest market share in
2019 mainly due to the growing number of x-ray unit launches in various
countries
- Nuclear imaging phantoms is projected to register
the highest CAGR over the forecast period owing to the growing adoption of
nuclear medicine. In addition, increasingly advanced and safer
radionuclides and high accuracy of nuclear imaging modality are some
factors contributing towards the segment growth
- Hospitals dominated the market in 2019 owing to a
significant number of favorable government initiatives to improve the
quality of treatment offered to patients, and the steep rise in medical
reimbursement policies
- The academic and research institutes segment is
expected to witness steady growth from 2020 to 2027 owing to high product
demand for educational purposes for providing efficient training regarding
the usage of these phantoms
- North America held the largest share in 2019
owing to the high adoption of advanced medical products, increasing
government expenditure for research activities, and a growing number of
product launches in the region
- The major players present in the medical imaging
phantom market include Biodex Medical Systems, Inc.; Modus Medical Devices
Inc.; Carville Limited; PTW Freiburg GmbH; Dielectric Corporation; Quart
GmbH; Kyoto Kagaku Co. Ltd; and Leeds Test Objects Ltd.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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