Cancer is one of the leading causes of mortality and morbidity worldwide and according to World Health Organization (WHO), the number of new cases is expected to rise by about 70% over the next 2 decades. Cancer is a broad term for a class of disease characterized by abnormal cells that grow and invade healthy cells in the body. The cancer begins in the cells which are the basic building blocks that make up tissue. It begins with genetic changes impairing this orderly process. Cells start to grow uncontrollably and these cells may form a mass termed as tumor.

The cancer imaging systems market is growing at an exponential rate with the increasing incidence of various types of cancer and active research and developmental activities dedicated to the continuous advancement in the imaging modalities. With the rising incidence of various types of cancer such as breast, lung, prostate and colorectal, cancer is the primary responsible factor for the growth of cancer imaging systems market. Furthermore, advancements in digital imaging techniques, growing awareness among the patients about early detection of cancer, and active support of the government has boosted the overall growth of this market. Moreover, the expansion of digital imaging modalities to newer clinical areas, active research and developmental activities in medical imaging, 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 hospitals, is further expected to accentuate the growth of this market in the near future.

However, certain restraining factors such as side effects of radiation exposure, shortage of skilled professionals and high installation cost of cancer imaging systems might hamper the growth of this market. Similarly, unfavorable taxation and lack of favorable reimbursement policies from the European and Asian governments have also negatively impacted the growth of this market.

The new range of companies are striving hard to file patents and get approvals from the regulatory bodies in this growing market and launch innovative products, while the established companies are busy in acquiring companies and partnerships with other ecosystem players.

The global cancer imaging systems is expected to reach $11 billion by 2025. The cancer imaging market broadly focuses on major cancer indications (breast cancer, lung cancer, colorectal cancer and prostate cancer, among others) and various imaging modalities (mammography, MRI and positron emission tomography, among others). The cancer imaging systems have become one of the major potential tools in early cancer detection and diagnostics radiology and also help in decreasing the mortality rate due to cancer.

The product segment of this market comprises of various cancer imaging modalities such as 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. The ultrasound acquired the highest market value and growing at a CAGR of 3.7%. The reason for such strong market share is attributed to the advantages provided by ultrasound system such as precision in identifying the nature of lesion, less expensive and free from exposure to radiations, active participation of government and industry players in continuous technological development, among others.

The application segment of this market comprises of oncology indications such as breast, lung, colorectal, prostate, liver and other cancers. The breast cancer acquired the highest market value. However, lung cancer is growing at the highest CAGR 5.4%. The reason for such strong market share is attributed to the rising incidence rate of breast cancer among the women all over the world.

The end user segment comprises of hospitals and diagnostic imaging centers, among others. The hospitals segment acquired the highest market value and growing at a CAGR of 4.2%. However, the others segment comprising of physician office and ambulatory services, among others, is growing at the highest CAGR of 6%. Hospitals, which are the major buyers of cancer imaging systems are increasing significantly. Due to the growing geriatric population, rising prevalence of cancer and continuous technological advancements in imaging modalities, there is an increasing demand of imaging technologies both from the health workers and patients, in order to meet the growing volume of cancer patients.

North America is dominating the market in 2016 and is growing at a CAGR of 4.3% during the forecast period. While, Latin America is growing at a CAGR of 6.7% from 2017 to 2025. The key players in the global cancer imaging systems market are Siemens Healthineers, Hologic Corporation, GE Healthcare, Philips Healthcare, Toshiba Medical Corporation, Hitachi Medical, Konica Minolta, Carestream Health and Yangzhou Kindsway Biotech Co. Ltd., among others. The market players are getting into the strategies such as collaborations, partnership & joint ventures, business expansion & contracts, product launches & developments, patents approvals & certifications, and mergers & acquisitions, among others.

The product launch & development strategy dominates the market, followed by regulatory approvals & certification strategy. The companies are busy in new product launches and developments in order to sustain their position and to enhance their business strength and outreach. The market is growing at a very high rate with a strong potential and sustainability. The market players are actively involved in the research and development of more technological advanced imaging modalities to save time, money and life. Along with the existing drivers of the market, the manufacturing of low cost imaging systems, automated image analysis techniques and fusion of two or three imaging modalities are some of the potential opportunities for the market players to sustain a strong position in the cancer imaging systems market.

We understand that your business need specific answers pertaining to the market. And , therefore, we do provide customised research tailored to your need.

With the purchase of this report, you are entitled to certain degree of free customisation within the scope of the study.

Do get in touch to help us understand how we can serve u better with a custom solution to your research needs. We assure quick turnaround for your pressing business requirements.

Contact Information

Name *

Email *

 

Company Name *

Designation

 

 

Contact No. *

Other Details

 

 

Refresh Captcha
Write the characters in the image above

 

 

* Required Fields