According to Emergen Research, the global cancer imaging systems market size was USD 8,067 million in 2020 and is expected to reach USD 12.24 Billion in 2027 and register a revenue CAGR of 5.3% during the forecast period.
Emergen Research has published its latest report titled “Cancer Imaging Systems Market By Imaging Systems (Mammography, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound, Positron Emission Tomography (PET) and Others), By Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Others) By End Use (Hospitals & Clinics, Diagnostic Centers, Others) and Region Forecasts to 2027”
According to Emergen Research, the global cancer imaging systems market size was USD 8,067 million in 2020 and is expected to reach USD 12.24 Billion in 2027 and register a revenue CAGR of 5.3% during the forecast period.
Market Dynamics:
Excessive consumption of alcohol, changing lifestyle, unhealthy eating habits, lack of physical activity, and other associated diseases are some of the common causes of cancer. Thus, early diagnosis and treatment is important. Various advanced imaging systems are such as mammography, CT scan, MRI, ultrasound, PET scan among others are available in moderate to large scale hospitals and diagnostic centers.
Factors such as rapid advancements in imaging systems, increasing number of private diagnostic centers, improving healthcare infrastructure, and government initiatives to create awareness about the importance of early diagnosis and treatment are expected to fuel market revenue growth over the forecast period. In addition, rising disposable income and healthcare expenditure in developing economies and increasing investments for developing advanced and cost-effective cancer imaging products are some other factors expected to fuel market growth going ahead.
However, factors such as high initial investments, dearth of skilled healthcare experts to operate latest cancer imaging machinery, and risks of side effects due to high radiation exposure are expected to hamper market growth during the forecast period. In addition, unfavorable reimbursement policies and high number of product recalls are expected to hamper market growth to a certain extent going ahead.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Mammography Segment to Account for Largest Revenue Share:
Mammography segment is expected to account for largest revenue share during the forecast period. Factors such as increasing incidence of breast cancer, increasing research-based activities on breast cancer screening, and rapid advancements in mammography techniques are expected to drive revenue growth of the segment during the forecast period.
Lung Cancer Segment to Register Steady Revenue Growth:
Lung cancer segment is expected to register a steady revenue CAGR over the forecast period owing to high prevalence of lung cancer across the globe, availability of latest diagnostic and imaging modalities in many hospitals and clinics, and government initiatives to create awareness about early detection and treatment.
North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue over the forecast period. This can be attributed to factors such as increasing prevalence of types of cancer across the region, growing geriatric population, rapid advancements in imaging technology, and increasing focus on developing innovative cancer imaging systems. In addition, increasing awareness about early diagnosis and treatment, and presence of well-established healthcare infrastructure and skilled healthcare professionals are other key factors expected to fuel North America market growth.
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Major Companies in the Market Include:
- GE Healthcare
- Hitachi Medical
- Becton, Dickinson, and Company
- Thermo Fisher Scientific Inc.
- CR Bard Inc.
- Agilent Technologies
- Abbott, Illumina Inc.
- Roche
- Philips Healthcare
- Kindsway Biotech
- Hologic Corporation
For the purpose of this report, Emergen Research has segmented the global cancer imaging systems market on the basis of imaging systems, application, end-users, and region:
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 Use Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Diagnostic Centers
- Others
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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
Reasons to buy the report:
- This study segments the Cancer Imaging Systems market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Cancer Imaging Systems sectors.
- This Cancer Imaging Systems report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Cancer Imaging Systems market.
Key features of the report:
- To study the key aspects impacting the Cancer Imaging Systems market size.
- To identify growth prospects in the Cancer Imaging Systems market.
- To analyze the Cancer Imaging Systems market segments and deduce the dominant trends observed in the industry.
- To examine the Cancer Imaging Systems market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Cancer Imaging Systems market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Cancer Imaging Systems Market Segmentation & Impact Analysis
4.1. Cancer Imaging Systems Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continued…
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