Medical imaging phantom market to reach USD 63.11M

The medical imaging phantom market share is expected to increase by USD 63.11 million from 2021 to 2026. The growth momentum of the market will accelerate at a CAGR of 6.7% during the forecast period.

Key medical imaging phantom market report highlights:

1. YoY growth (%): 5.11%
2. Performing market contribution: North America at 40%
3. Key consumer countries: US, Canada

Regional market analysis
North America will account for 40% of the market’s growth during the forecast period. The rising prevalence of chronic diseases will drive the medical imaging phantom market growth in North America during the forecast period. Market growth in this region will be slower than the growth of the market in Asia and Europe. The US and Canada are the key countries for the medical imaging phantom market in North America. Government and nonprofit organizations are creating awareness regarding the early diagnosis and treatment of chronic diseases, including lung cancer, breast cancer, and cardiovascular diseases, in the region. Various institutes such as the CDC and the Canadian Cancer Society are creating awareness regarding breast cancer screening.

Key vendors and vendor strategies
Leeds Test Objects LTD, Agfa-Gevaert NV, Bartec Technologies Ltd., Biodex Medical Systems Inc., Canon Medical Systems Corp., Carestream Health Inc., Carville Ltd., Computerized Imaging Reference Systems Inc., Dielectric Manufacturing Inc., FUJIFILM Holdings Corp., GE Healthcare Inc., Kyoto Kagaku Co. Ltd., Modus Medical Devices Inc., Philips International BV, PTW Freiburg GmbH, Pure Imaging Phantoms, Samsung Electronics Co. Ltd., SBRI Healthcare, Shimadzu Corp., and Siemens Healthineers AG, among others., are few of the key vendors in the market. The key offerings of some of these vendors are listed below:

• Canon Medical Systems Corp. – The company offers RADREX – I standard x ray system under medical imaging phantom.

Key market drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the medical imaging phantom market.

• Increasing prevalence of chronic conditions:

In 2020, lung cancer, breast cancer, prostate cancer, colorectal cancer, and stomach cancer were the five commonly diagnosed types of cancers. Among these, lung cancer and breast cancer accounted for the largest number of diagnosed cases. The number of diagnosed cancer cases is expected to increase to 21.3 million by 2025. Moreover, the high incidence of cancer is increasing the demand for cancer screening and diagnoses, which is driving the growth of the global medical imaging phantoms market. Similarly, the increasing prevalence of other chronic conditions, such as cardiovascular diseases and neurological disorders, will augment the demand for medical imaging phantoms during the forecast period. Technavio