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Precision Cancer Imaging Market

Market Insights on Precision Cancer Imaging covering sales outlook, demand forecast & up-to-date key trends

Precision Cancer Imaging Market By Modality (Magnetic Resonance Imaging, X-Ray Radiography, Nuclear Imaging, Molecular Imaging, Ultrasound Imaging, Positron Emission Tomography, Computed Tomography, Scanning, Others), End user (Hospitals, Diagnostic centers, Research centers) & Region - Forecast 2022-2032

Precision Cancer Imaging Market Overview

The precision cancer imaging system market is expected to register a CAGR of 12% during the forecast period, up from US$ 67.8 Bn in 2022 to reach a valuation of US$ 210.58 Bn by 2032.

Sales of precision cancer imaging system is expected to rise due to the rising awareness among the patients relating to molecular foundation of cancer and rising preference for personalized treatments. 

Attributes

Details

Precision Cancer Imaging Market Value (2022)

US$ 67.8 Bn

Precision Cancer Imaging Market Projected Value (2022-2032)

US$ 210.58 Bn

Precision Cancer Imaging Market CAGR (2022-2032)

12%

The increasing occurrence of various types of cancer, such as breast, lung, prostate, and colorectal cancer, is the key reason driving the growth of the precision cancer imaging market share. A number of evolving technologies in Precision Cancer Imaging, such as clinical decision-making software, sensors, three-dimensional printing, deep learning, and artificial intelligence, are likely to boost the sales of precision cancer imaging systems.

The cost is a major issue affecting the sales of precision cancer imaging system. Precision Cancer Imaging may further overload many healthcare systems that are already under severe financial restrictions.

The demand for precision cancer imaging system is rising as it is a great procedure that is impeding the patient's access to treatment. The latest targeted pharmaceuticals that are introduced into the precision cancer imaging market are so exorbitantly costly that patients cannot afford them.

The demand for precision cancer imaging system is increasing due to the rising preference by physicians, healthcare systems, pharmaceutical agencies, patients, and the government, which is one of the most expected factors in the precision cancer imaging market's growth.

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What are the Dynamics to the Precision Cancer Imaging Market Share?

The demand for precision cancer imaging system is rising as they play a significant role in cancer detection. Furthermore, the sales of precision cancer imaging system are anticipated to grow as they provide a thorough perception of the exact location and extent of the disease.

Precision cancer imaging is a strategy for diagnosing scientific illnesses that take individual variations in hereditary and environmental factors into account. As a result, the demand for precision cancer imaging systems rises. A precision cancer imaging system provides precise information on structural or cancer-related changes. 

The sales of precision cancer imaging system are growing as they aid in the discovery of tumours and also in the evaluation of therapeutic and post-therapeutic modifications, consequences of treatments, and follow-up for the early detection of recurrence. These factors combined aid the growth of the global precision cancer imaging market share.

Furthermore, an unexpected spike in pandemic cases has raised the demand for COVID-19 diagnostic techniques and products, resulting in increased demand for precision cancer imaging systems.

According to the World Health Organization (WHO), COVID-19 will affect 163,312,429 persons worldwide in May 2021. Such a rapid increase in instances on a daily basis has accelerated the sales of precision cancer imaging systems and the use of modern diagnostic solutions to offer patients early treatment.

The demand for precision cancer imaging system is anticipated to witness growth. Furthermore, screening, early diagnosis, guiding treatment, evaluating response to therapy, and estimating the risk of disease recurrence, plays a key role in rising sales of precision cancer imaging system. 

Another prospective aspect leading to the growth of the precision cancer imaging market is the increasing incidence of various types of cancer and active research and development activities dedicated to the non-stop innovation of imaging modalities. The precision cancer imaging market share is growing at an exponential rate.

Sabyasachi Ghosh
Principal Consultant
LinkedIn
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Which is the Leading Region in the Precision Cancer Imaging Market?

Due to its established health care infrastructure, awareness of early illness diagnosis, and high healthcare spending, North America accounted for a significant proportion of the precision cancer imaging market. 

The demand for precision cancer imaging system is expected to grow significantly in Asia-Pacific due to the existence of emerging markets such as India and China, as well as growing medical tourism due to low prognostic prices and hospital modernization in these countries.

Furthermore, due to the vast population pool in the area, gadget manufacturers are investing heavily in emerging markets. Germany dominates the precision cancer imaging market in Europe. South Africa is regarded as one of the most important markets in the Middle East and Africa because of the high frequency of various diseases.

Who are the Key Players in the Precision Cancer Imaging Market?

Some of the key players in precision cancer imaging market are GE Healthcare (U.S.), Hologic, Inc. (U.S.), Koninklijke Philips N.V. (Philips Healthcare) (Netherlands), Hitachi, Ltd. (Hitachi Medical Corporation) (Japan), Shimadzu Corporation (Japan), Toshiba Corporation (Japan), Siemens AG (Germany), Fujifilm Holdings Corporation (Japan), Carestream Health (U.S.), Esaote SpA (Italy) and others.

Recent Developments

  • Trivitron Healthcare, a medical device business, revealed two new innovative solutions for HbA1c and Hb variant detection in June 2021. Diabetes, haemoglobin variants, and thalassemia will all be monitored using these products.
  • The new product includes the NANO H5 and NANO H110, both of which are high-performance liquid chromatography analyzers that are fully automated. Within a forecasted timeframe in the diagnostics industry, the company will reach a new level of precision.
  • Diaceutics PLC announced the launch of DXRX – The Diagnostic Network in October 2020, with the goal of accelerating the end-to-end development of precision medicine diagnostics by reducing the time to peak biomarker test acceptance for cancer testing from years to months.
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Report Scope

Report Attribute

Details

Growth rate

CAGR of 12% from 2022 to 2032

Base year for estimation

2021

Historical data

2015 - 2020

Forecast period

2022 - 2032

Quantitative units

Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,

Segments covered

Modality, end user, region

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

GE Healthcare (U.S.), Hologic, Inc. (U.S.), Koninklijke Philips N.V. (Philips Healthcare) (Netherlands), Hitachi, Ltd. (Hitachi Medical Corporation) (Japan), Shimadzu Corporation (Japan), Toshiba Corporation (Japan), Siemens AG (Germany), Fujifilm Holdings Corporation (Japan), Carestream Health (U.S.), Esaote SpA (Italy) and others.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

Frequently Asked Questions

The precision cancer imaging market is predicted/forecasted to register a CAGR of P% during the forecast period.

Key players holding substantial precision cancer imaging market share include GE Healthcare (U.S.), Hologic, Inc. (U.S.), Koninklijke Philips N.V. (Philips Healthcare) (Netherlands), Hitachi, Ltd. (Hitachi Medical Corporation) (Japan), Shimadzu Corporation (Japan), Toshiba Corporation (Japan), Siemens AG (Germany), Fujifilm Holdings Corporation (Japan), Carestream Health (U.S.), Esaote SpA (Italy).

As per the analysis, the Precision Cancer Imaging Market share is likely to be US$ 210.58 Bn by 2032.

Demand for precision cancer imaging is likely to rise due to the rising awareness among the patients relating to molecular foundation of cancer and rising preference for personalized treatments

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Sabyasachi Ghosh
Principal Consultant
LinkedIn
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Precision Cancer Imaging Market