Analysis of Medical Imaging Phantoms market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Medical imaging phantoms are devices that are mainly used in the evaluation and analysis of medical imaging devices such as MRI scanners, CT scanners, etc. Medical imaging phantoms provide better and more consistent results than other objects such as live samples or cadavers.
The global medical imaging phantoms market size is expected to expand at a steady CAGR of nearly 4% over the forecast period of 2020-2030.
The COVID-19 pandemic has had a nominal effect on the global medical imaging phantoms market. This is one of the very few markets not to experience sudden dip in value during this worldwide crisis. Technological advancements in medical imaging phantoms will be the key driver for this market over the next decade.
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Imaging phantoms are considered a much safer option than human tissue being used in imaging devices, and provide more productive and reliable results. The medical imaging phantoms market is segregated into a number of product types, based on their uses in the medical industry.
The product types are X-ray/fluoroscopy phantoms, CT phantoms, Ultrasound phantoms, nuclear imaging phantoms, MRI phantoms, and others.
The leading product type that holds a majority market share, i.e. over 30%, is X-ray/fluoroscopy phantoms. The segment is doing well due to extensive increase in demand and usage of X-ray/fluoroscopy machines by doctors and researchers across the globe.
CT phantoms and ultrasound phantoms also occupy a considerable medical imaging phantoms market share, due to the wide range of applications of these machines, which is also a key driver of the market.
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The medical imaging phantoms market is segmented across end users by hospitals, academic & research institutes, diagnostic & reference laboratories, and medical device companies.
A dominant position in the market is held by hospitals, on account of increasing number of hospital admissions, beneficial support by respective governments to increase quality of treatment, and rise in medical reimbursement policies.
Other end user segments such as academic & research institutes also comprise a considerable portion of the market, due to technology advancements and investments in R&D activities.
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The global medical imaging phantoms market is segmented into the following main regions - North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America holds a majority share and is the dominant region in the market.
This is mainly because of its advanced healthcare infrastructure, support from the government for increasing the number of medical imaging devices for improvement in the efficiency of this sector, increase in sales of imaging devices, and a patient-centric approach.
The medical imaging phantoms market in Asia Pacific is predicted to experience the fastest growth during the forecast period. Key reason being, increasing prevalence of disorders such as cardiac arrests, chronic disorders, etc. Rise in medical tourism in developing economies of the region also acts a driver for this regional market.
The global medical imaging phantoms market is slightly fragmented in nature. The market framework involves a moderate level of competition among several players.
Key players in the market are Gold Standard Phantoms, PTW Freiburg GmbH, Kyoto Kagaku Co. Ltd., Dielectric Corporation, Pure Imaging Phantoms, Leeds Test Objects Ltd, Modus Medical Devices Inc., Computerized Imaging Reference Systems, Inc. (CIRS, A Castleray), Carville Limited, and Biodex Medical Systems, Inc.
“Lower costs of medical imaging phantoms and upgrades in technology and materials are expected to be key drivers of the market over the short-term forecast period.”
The COVID-19 disease caused by coronavirus has had a significant adverse impact on global businesses. The impact on the medical imaging phantoms market, however, has consequently been on a nominal scale.
Key factor being, the threat of the pandemic has made doctors and researchers take utmost precautions, thereby aiding market growth.
The pandemic has also resulted in a crucial increase in the number of patients and research activities, which is a proven driver for the market in terms of revenue. Patients will delay diagnostic procedures for now, but will ultimately head to hospitals for carrying out necessary tests.
Fact.MR published an exclusive forecast report on the global medical imaging phantoms market for 2020 and 2030. The foremost objective of this report on the global medical imaging phantoms market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the market.
Also, the study on the medical imaging phantoms market addresses key dynamics that are expected to diversify the sales and future prominence of medical imaging phantoms.
The report on the global medical imaging phantoms market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the medical imaging phantoms market, elaborating on key segments.
Also, the report outlines visionary insights on the dynamics of the medical imaging phantoms market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for medical imaging phantoms.
Supply chain analysis and pricing analysis of the medical imaging phantoms market along with the difference between medical imaging phantoms used as per application have also been included in the report, to help readers clearly understand the product framework map in the global medical imaging phantoms market.
Fact.MR has studied the medical imaging phantoms market with detailed segmentation on the basis of type, end-user, and key regions.
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
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The global medical imaging phantoms to expand at a CAGR of nearly 4% over the forecast period of 2020-2030.
X-ray/fluoroscopy phantoms to hold the major market share of 30%.
North America holds a majority share and leads the market.
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