The precision cancer imaging system market is expected to register a CAGR of 12% during the forecast period, up from USD 67.8 Billion in 2022 to reach a valuation of USD 210.58 Billion 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) | USD 67.8 Billion |
| Precision Cancer Imaging Market Projected Value (2032) | USD 210.58 Billion |
| Precision Cancer Imaging Market CAGR (2022 to 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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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.
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.
Some of the key players in precision cancer imaging market are GE Healthcare (USA), Hologic, Inc. (USA), 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 (USA), Esaote SpA (Italy) and others.
Recent Developments:
| Report Attribute | Details |
|---|---|
| Growth rate | CAGR of 12% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2020 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD Million 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 | USA, Canada, Mexico, Germany, UK, 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 (USA); Hologic; Inc. (USA); 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 (USA); 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. |
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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 (USA), Hologic, Inc. (USA), 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 USD 210.58 Billion 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
| Estimated Size, 2024 | USD 1,822.2 million |
|---|---|
| Projected Size, 2034 | USD 3,142.2 million |
| Value-based CAGR (2024 to 2034) | 5.6% |
| Market Size (2023) | USD 12.44 Billion |
|---|---|
| Market Size (2033) | USD 24.94 Billion |
| Market CAGR (2023 to 2033) | 7.2% |
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