Global Medical Imaging Phantoms Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Medical Imaging Phantoms Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Medical Imaging Phantoms market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global medical imaging phantoms market size was valued at USD 141.1 million in 2019 and is anticipated to register a CAGR of 5.2% over the forecast period. Increasing disease burden of lifestyle-associated disorders such as cardiac failure, chronic kidney disease, And Chronic Obstructive Pulmonary Disease (COPD), and rising demand for accurate calibration techniques for effective diagnostic imaging procedures are the key factors expected to drive the market growth. For instance, according to World Health Organization (WHO), in 2016, the global prevalence of COPD was 251.0 million cases. In addition, increasing demand or early diagnostic methods are some of the major driving factors of the market.

Increasing number of diagnostic imaging facilities and growing need for in-house calibration techniques are the factors driving the demand for innovative imaging phantoms. According to the U.S. Census Bureau, in 2015, 6,598 outpatient imaging diagnostic centers were present in U.S. Moreover, development of technologically advanced medical imaging phantoms to enhance the accuracy of these medical devices is expected to drive the market growth over the forecast period. 3D printing technology is effectively being used for developing low-cost medical imaging phantoms with appropriate complexities. Phantoms developed using 3D technology represent realistic images of tissues and organs produced by various imaging modalities such as computed tomography (CT), positron emission tomography (PET), magnetic resonance imaging (MRI), and single-photon emission computed tomography (SPECT). Increasing demand for quick and efficient diagnostic imaging procedures is eventually expected to boost the demand for advanced phantoms

Maximum number of MRI units are present in U.S. and European countries such as Germany, which is expected to provide huge growth potential to phantom suppliers. For instance, according to the OECD, in 2017, about 37.7 MRI units are available per every million of its population in U.S., while 34.5 such units are available per every million of its population in Germany. In addition, preclinical studies conducted to examine the efficiency of 3D developed medical imaging phantoms and multimodal imaging phantoms is expected to drive the demand for innovative phantoms in the coming years.

The demand for X-ray phantoms is currently on the rise due to its widening applications. Fluoroscopy phantoms are the most widely used since fluoroscopy systems are gaining popularity as they offer high-quality images. In addition, players in the market are developing an all-in-one medical imaging phantom to provide high efficiency for various medical imaging devices and a more cost-effective solution. Therefore, adoption of these integrated phantoms to enhance the performance of various multidisciplinary medical imaging devices is expected to drive the market growth during the forecast period.

Growing prevalence of disorders such as cardiac failure, various types of cancer, and chronic disorders, is expected to play a key role in the rising demand for advanced phantoms. These phantoms can help in exploring the potential for early detection capabilities of imaging systems. Hence, usage of medical imaging phantoms to improve the efficiency of devices such as X-ray, CT scan, and MRI is expected to play a significant role in the market growth. Furthermore, increasing number of clinical trials by universities and institutes for improving the accuracy of phantoms for various disorders such as solid tumors is expected to positively affect the market growth.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Medical Imaging Phantoms market are included as given below:

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

These market players are focusing on forming an efficient value chain to cater to the growing demand for innovative phantoms. For instance, Gold Standard Phantoms signed a strategic partnership with National Physical Laboratory (NPL) 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.

The global Medical Imaging Phantoms market has been segmented as below:

  • Device Type Outlook (Volume, ’000 Units; Revenue, USD Million, 2016 - 2027)
    • X-ray
    • Ultrasound
    • CT
    • MRI
    • Nuclear imaging
    • Others
  • End-use Outlook (Revenue, USD Million, 2016 - 2027)
    • Hospitals
    • Academic and Research Institutes
    • Diagnostic and Reference Laboratories
    • Medical Device Companies
  • Material Outlook (Volume, ’000 Units; Revenue, USD Million, 2016 - 2027)
    • Simulating devices
      • X-ray
      • Ultrasound
      • CT
      • MRI
      • Nuclear imaging
      • Others
    • False organs
      • X-ray
      • Ultrasound
      • CT
      • MRI
      • Nuclear imaging
      • Others
  • Global Medical Imaging Phantoms Market by Region
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World

Reasons to Purchase this Report:

Estimates Medical Imaging Phantoms development trends with SWOT analysis

  • Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
  • Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
  • Market dynamics scenario, along with growth opportunities for players in the years to come
  • Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects

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