Medical Imaging Phantoms Market Size

Medical Imaging Phantoms Market Size

Medical Imaging Phantoms Market size was valued at around USD 175.9 million in 2023 and is anticipated to register a CAGR of 5% between 2024 to 2032. Medical imaging phantoms are devices designed to mimic the properties of human tissues or organs when subjected to medical imaging technologies such as X-ray, ultrasound, MRI systems (Magnetic Resonance Imaging), CT (Computed Tomography), nuclear imaging, and others. These phantoms are used in the field of medical imaging to calibrate, standardize, and evaluate the performance of imaging systems.

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The increasing healthcare infrastructure and investments is significant driving factors for the market. For instance, in March 2022, Gold Standard Phantoms participated in the 2022 P4 Precision Medicine Accelerator Program. Within this project, the company focused its investments on specialized phantoms designed for MRI imaging of human tissues and organs in living subjects. This program was overseen by University College London and Capital Enterprise and provided unparalleled access to expertise, valuable relationships, and opportunities for new connections.
 

Furthermore, growing prevalence of chronic diseases, rising adoption of medical imaging (market size is estimated to account for USD 67.6 billion by the end of year 2032), increasing demand for quality assurance, incorporation of artificial intelligence (AI) in medical imaging, government initiatives and funding, and increasing technological advancements, are the promoting factors fostering the growth of the market.