According to the current analysis by Emergen Research, the global market for cancer imaging systems is projected to be worth USD 12.24 Billion by 2027. High demand attributed to the increasing incidence of cancer will be driving the cancer imaging systems market. Cancer has a major impact on societal and economic growth in the U.S. and the rest of the world and is a major contributor to the country’s economic burden. 1,806,590 new cases of cancer are expected to be diagnosed in the U.S. in 2020, and 606,520 deaths will occur due to the disease.
The rapid growth of the market is caused by growing technological advancements and increased investments in cancer imaging. Hologic, Inc. received approval for its 3DQuorumTM Imaging Technology, driven by Genius AITM, from the U.S. Food and Drug Administration (FDA) in November 2019. The technology works with Hologic’s Clarity HDTM high-resolution imaging technology at the same time and helps radiologists reduce the volume of tomosynthesis images by 66.0%. Because of such developments, the breast imaging system would generate higher-resolution 3D images, better workflow, and an improved mammography experience for patents requiring low radiation dose.
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Key Highlights From The Report
- Agilent Technologies Inc. made an announcement in July 2019 about the signing of an agreement to acquire of BioTek Instruments, a private firm with USD 1.17 billion. BioTek is involved in the design, manufacture and distribution, including cell imaging systems, of ground-breaking life science instrumentation.
- MRI offers the advantage of imaging parts of soft body tissue that are occasionally difficult to examine using other types of modalities. The identification and location of some cancers are carried out with superior accuracy with MRI. In addition, the most appropriate brain and spinal cord tumour imaging technique is an MRI that deploys contrast dye.
- Lung cancer is a prevalent type of cancer in men and the third leading type of cancer in women, with 2 million new cases being registered in 2018. The top three countries with the highest disease rate in 2018 were Hungary, Serbia, and France.
- Diagnostics centres are projected to grow in the forecast period at the fastest CAGR of 10 percent. In order to assist in the detection of diseases in people with specific symptoms, diagnostic centres are equipped with the required imaging system and specialist staff.
- Due to the high adoption of advanced imaging technologies, increasing incidences of cancer, established healthcare infrastructure, and the undertaking of various initiatives to raise awareness about the disease, the market in the North American region held the largest market share in 2019.
- Key participants include GE Healthcare, Becton, Dickinson, and Company, Hitachi Medical, Thermo Fisher Scientific Inc., Agilent Technologies, CR Bard Inc., Abbott, Roche, Illumina Inc., and Philips Healthcare, among others.
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Emergen Research has segmented the global cancer imaging systems market on the basis of imaging systems, application, end-user, and region:
Imaging Systems Outlook (Revenue, USD Billion; 2017-2027)
- Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Positron Emission Tomography (PET)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Diagnostic Centers
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Insights into our Other Published Healthcare Reports:
Bioremediation Market Projected To Be Worth USD 334.70 Billion By 2027 Growing at a CAGR of 15.5% | Emergen Research
Cancer Imaging Systems Market To Reach USD 12.24 Billion by 2027 | Emergen Research
Intelligent Drug Discovery Market Size To Be Worth USD 3,711.8 Million by 2027 | Emergen Research
AI-Enabled Medical Imaging Solutions Market Size To Be Worth USD 4,720.6 Million by 2027 | Emergen Research
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About Emergen Research
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