Shelly December 18, 2020

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Medical Imaging Phantoms market.

Trusted Business Insights presents an updated and comprehensive analysis of Medical Imaging Phantoms Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Medical Imaging Phantoms market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Abstract, Snapshot, Market Analysis & Market Definition: Global Medical Imaging Phantoms Market

The global Medical Imaging Phantoms market size is projected to reach US$ 200.98 million by 2026, from US$ 149.12 million in 2020, at a CAGR of 5.1% during 2021-2026. Growing prevalence of various lifestyle associated disorders, such as Chronic Obstructive Pulmonary Disease (COPD), cardiac failure, and Chronic Kidney Disease (CKD), and increasing demand for early diagnostic methods are some of the major driving factors of the market. Moreover, increasing number of diagnostic imaging facilities, rising medical expenditure, and introduction of technologically advanced products are further expected to fuel the market growth.

Increasing demand for minimally invasive surgical procedures is also expected to boost the demand for advanced imaging phantoms, which can be used for testing intraoperative imaging systems. Magnetic resonance imaging technology detects various complications including nausea and headache. Increasing demand for safer imaging techniques are expected to boost the use of innovative medical imaging phantoms in preclinical and clinical studies.

Demand for X-ray phantoms is on the rise due to increasing applications of X-ray in spine-associated problems. Fluoroscopy phantoms as fluoroscopy systems offer high-quality images. High efficiency of these devices and increased adoption of technologically advanced products are also influencing the market growth. Growing prevalence of disorders, such as cardiac failure, various types of cancer, and chronic disorders, is expected to play a key role in driving market growth.

Advanced medical phantoms can help in early detection capabilities of imaging systems. Hence, extensive product usage to improve the efficiency of imaging devices, such as x-ray, CT scan, and MRI, is expected to drive the market. Furthermore, increasing number of clinical trials by universities and institutes for improving the accuracy of phantom for various disorders, such as solid tumors, is likely to affect the market growth positively.

Market Segmentation, Outlook & Viewpoint: Global Medical Imaging Phantoms Market

Device Type Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2026)

  • X-ray
  • Ultrasound
  • CT
  • MRI
  • Nuclear Imaging
  • Others

End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2026)

  • Hospitals
  • Academic and Research Institutes
  • Diagnostic and Reference Laboratories
  • Medical Device Companies

Material Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2026)

  • Stimulating Devices
  • False Organ

Key Players, Recent Developments & Regional Insights: Global Medical Imaging Phantoms Market

Based on end use, the market is segmented into hospitals, diagnostic & reference laboratories, academic & research institutes, and medical device companies. Hospitals segment is anticipated to lead the market over the forecast years owing to constantly improving imaging facilities and healthcare infrastructure. Medical device companies segment is also expected to hold a significant market share registering the fastest CAGR from 2019 to 2026 due to growing research activities. Increasing number of clinical and preclinical trials for various imaging modalities integrated with Artificial Intelligence (AI) is anticipated to play a key role in segment growth.

Large-scale hospitals are starting in-house imaging centers, which help in saving significant time during diagnosis and treatment. This is expected to boost the demand for imaging systems and phantoms. Academic and research institutes segment also held a considerable market share in 2018 and is likely to expand further at a healthy CAGR due to increasing research activities. Several bioengineering researchers, aiming to develop a realistic phantom head for magnetic resonance research is an emerging trend in the global market.

Regional Insights

North America holds the largest share of the global medical imaging phantoms market owing to high adoption of advanced products, devices, and technologies in different verticals of healthcare sector. Increasing government expenditure for research activities is expected to drive the regional market further. Presence of well-established healthcare infrastructure, rising number of ambulatory centers, and rapid replacement of old systems by advanced products are also some of the major factors driving the market in this region.

Asia Pacific is expected to be the fastest-growing regional market during the forecast period on account of growing target population in emerging countries like China and India. Moreover, availability of skilled professionals, increasing usage for advanced diagnostic products, and rapidly expanding medical tourism market in developing economies are projected to drive the market further.

Medical Imaging Phantoms Market Share Insights

The major companies in the market include Biodex Medical Systems, Inc.; Gold Standard Phantoms; Pure Imaging Phantoms; Modus Medical Devices, Inc.; True Phantom Solutions; Computerized Imaging Reference Systems, Inc.; Carville Ltd.; PTW Freiburg GmbH; Dielectric Corp.; Quart GmbH; Leeds Test Objects Ltd.; Kyoto Kagaku Co. Ltd.; and PhantomX.

These companies focus on forming efficient value chain to cater to the growing demand for innovative phantoms. Recently, Gold Standard Phantoms signed strategic partnership with National Physical Laboratory and NEL to create ‘Porous Modelling within a Perfusion Phantom’. NPL will bring proficiency in mathematical modelling, analysis of complicated systems, and characterization and metrology, essential to success of the project.

Key Insights Covered: Global Medical Imaging Phantoms Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Medical Imaging Phantoms industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Medical Imaging Phantoms industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Medical Imaging Phantoms industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Medical Imaging Phantoms industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Medical Imaging Phantoms industry.

Research Methodology: Global Medical Imaging Phantoms Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other

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