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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.
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.
What is the value of the medical imaging phantoms industry?
Medical imaging phantoms market size was USD 175.9 million in 2023 and is expected to reach over USD 270.2 million by 2032 owing to the increasing healthcare infrastructure and investments along with growing prevalence of chronic disorders worldwide.
Why is the demand for x-ray medical imaging phantoms growing?
Medical imaging phantoms industry from the x-ray phantoms segment is expected to record USD 90.9 million by 2032 due to their utilization in a wide range of medical specialties, from general radiography to specialized fields.
How big is the North America medical imaging phantoms market?
North America medical imaging phantoms industry expected to reach ISD 71.3 million by 2032 due to technological advancements in medical imaging and heavy investments in research and development in the region.
Who are the key leaders in the medical imaging phantoms industry?
Gold Standard Phantoms, Ion Beam Applications SA., Kyoto Kagaku Co., Ltd., Leeds Test Objects, Mirion Technologies, Inc., PTW Freiburg GmbH, Pure Imaging Phantoms, and RSD Radiology Support Devices, are some of the major medical imaging phantoms companies worldwide.