Cancer Imaging Systems Market Research Report with Industry Forecast and Outlook 2027
Research Reports
Jan 18, 2021
Market Size – USD 8,067.0 Million in 2019, Market Growth – CAGR of 5.3%, Market Trends –Development of new biomarkers
The global cancer imaging systems market is projected to be worth USD 12.24 Billion by 2027, according to a current analysis by Emergen Research. The cancer imaging systems market is observing high demand attributed to the increasing incidence of cancer. Cancer significantly impacts the societal and economic growth in the US and worldwide and is a major contributor to the cost burden of disease. It has been anticipated that 1,806,590 new cancer cases are likely to be diagnosed in the US in 2020, and 606,520 deaths will occur owing to the disease.
Growing technological advancements and increased investments in cancer imaging are causative of the rapid growth of the market. Hologic, Inc., in November 2019, received approval from the US Food and Drug Administration (FDA) for its 3DQuorum™ Imaging Technology, driven by Genius AI™. The technology works simultaneously with Hologic’s Clarity HD™ high-resolution imaging technology and helps radiologists reduce tomosynthesis image volume by 66.0%. The breast imaging system owing to such advancements would produce higher-resolution 3D images, better workflow, and an improved mammography experience for patents necessitating low radiation dose.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
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Key Highlights From The Report
In July 2019, Agilent Technologies Inc. made an announcement about the signing of an agreement to buy BioTek Instruments, a private firm, for USD 1.17 billion. BioTek is involved in designing, producing, and distributing groundbreaking life science instrumentation, including cell imaging systems.
MRI offers the benefit of imaging soft body tissue parts that are occasionally hard to view using other types of modalities. MRI is excellent at identifying and locating some cancers. Moreover, an MRI deploying contrast dye is the most appropriate brain and spinal cord tumor imaging technique.
Lung cancer is a common type of cancer in men and the third-leading cancer type in women with 2 million novel cases in the year 2018. Hungary, Serbia, and New Caledonia (France) were the top three countries with the highest disease rate in 2018.
Diagnostics centers are projected to grow at the fastest rate of 10.0% in the forecast period. Diagnostic centers are fitted out with the requisite imaging system and specialist staff, as well as healthcare personnel, for assisting in the process of detecting diseases in individuals displaying specific symptoms.
The market in the North American region held the largest market share in 2019, owing to a high adoption of advanced imaging technologies, a rising incidence of cancer, established healthcare infrastructure, and undertaking of various initiatives to create awareness about the disease.
Key participants include GE Healthcare, Hitachi Medical, Becton, Dickinson, and Company, Thermo Fisher Scientific Inc., CR Bard Inc., Agilent Technologies, Abbott, Illumina Inc., Roche, and Philips Healthcare, among others.
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Imaging Systems Outlook (Revenue, USD Billion; 2017-2027)
Mammography
Computed Tomography (CT)
Magnetic Resonance Imaging (MRI)
Ultrasound
Positron Emission Tomography (PET)
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Breast Cancer
Lung Cancer
Colorectal Cancer
Melanoma
Others
End-Users Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Diagnostic Centers
Others
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