Cancer has been the second leading cause of death worldwide and was responsible for 8.8 million deaths in the year 2015 according to the World Health Organization. Approximately 70% of death from cancer occur in low and middle-income countries, the reason being lack of required healthcare technology and systems in these countries. According to the American Cancer Society, the total number of cancer incidence is expected to reach 21.7 million by 2030, and the number of cancer deaths will reach 13 million due to the growth and aging of the population. The future will have a tremendous increase in the cancer cases, increasing the burden because of the adoption of a modern lifestyle such as smoking, poor diet, physical inactivity, and fewer childbirths, in economically developing countries.
However, the future holds a silver lining as the research and development in this domain have presented impressive and important outcomes with regards to cancer detection and treatment. The screening processes for cancer detection are constantly being upgraded which makes it easier to detect cancer at an early stage and treat or cure it. The cancer imaging systems present in the healthcare industry are being developed and enhanced constantly, and thus, its market is growing at an exceptional rate.
The medical imaging segment has witnessed a number of research and development activities over the past few decades, and researchers are actively involved in the ongoing advancements in the imaging technology. There has been a significant development by the researchers at Sanford Burnham Prebys Medical Discovery Institute. They have reported about an improved cancer imaging technology which substantially reduces background noise, making the cancer cells stand out more clearly. This optical technology is capable of producing images with greater contrast between cancer and surrounding tissue. Another major discovery has been made recently by the researchers at Tufts by discovering a faster way to image materials at the nano level. This advancement could speed the detection of cancer and assist in the development of new high-tech materials.
Such developments in the cancer imaging technology, along with the expansion of digital imaging modalities to newer clinical areas, rapid transition of hospitals to promote automatic workflow integration in their current work environment and rising installation base of advanced medical imaging tools in various multispecialty hospital are collectively accelerating the growth of the cancer imaging systems market worldwide. The global cancer imaging systems market accounted for $7.08 billion in 2016 in terms of revenue and is expected to cross the $10 billion mark by 2025. The market is experiencing certain restrains such as side effects of radiation exposure, shortage of skilled professionals and high installation cost of cancer imaging systems.
The market offers a variety of products including analog mammography, full field digital mammography, digital breast tomosynthesis (DBT), ultrasound, computed tomography (CT), molecular breast imaging (MBI), magnetic resonance imaging (MRI), and positron emission tomography (PET), among others. Among these, the ultrasound segment held the highest market share in terms of value in the year 2016 and is expected to grow marginally by 2025. The highest CAGR is expected to be registered by digital breast tomosynthesis (DBT).
BIS Research has conducted an extensive market research on ‘Global Cancer Imaging Systems Market -Analysis and Forecast (2017-2025)′. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.