Global Cancer Imaging System Market Forecast, Trend Analysis And Competition Tracking - 2015 - 2031

Cancer Imaging System Market Introduction:

Cancer is a disorder in which many of the body's cells develop uncontrollably and spread to various parts of the body. Cancerous tumors spread by tissue, and may proliferate to distant places within the human body, forming new tumors in the process. The excessive consumption of alcohol, tobacco, the adoption of poor lifestyle choices, the lack of physical fitness, and other related illnesses such as diabetes, etc., may also result in the development of diverse cancer types. Most cancer mortality rates may reduce, if detected early. According to the World Health Organization (WHO), cancer is the second primary purpose for the loss of life on a global-scale, with the cancer death rate being about 10 million in 2020. Globally, approximately 1 out of 6 deaths occur due to cancer. According to the WHO, there were over 2.3 million women who were diagnosed with breast cancer, and claimed the lives of 685,000 globally in 2020.

According to the World Health Organization, globally, an estimated 19.3 million new cancer cases and almost 10 million cancer deaths were indexed in 2020. Woman's breast cancer exceeds lung cancer rates with an estimated 3 million new cases (11.7%), followed by lung cancer (11.4%), colorectal (10.0 %), prostate (7.3%), and stomach (5.6%) cancers.

A Cancer Imaging System (CIS) plays a massive role in detecting most cancers as it provides an in-depth analysis of the exact location and volume of a given ailment. It additionally presents targeted information about structural or other cancer-related modifications. The CIS enables the detection of a tumor. It also allows for the evaluation of therapeutic & non-therapeutic modifications, various complications of a given treatment, and to facilitate the early detection of potential recurrence. Thus, the early screening and correct diagnosis are of paramount importance. A cancer imaging system department focuses on molecular imaging, purposeful genomics, and the high throughput of technologies focusing on mechanism-based fundamental, preclinical and medical-translation research of cancer.

Six primary cancer imaging diagnosis systems to treat human cancer are:

• X-ray (undeniable film and Computed Tomography [CT])
• Ultrasound (US)
• Magnetic Resonance Imaging (MRI)
• Single-Photon Emission Computed Tomography (SPECT)
• Positron Emission Tomography (PET)
• Optical imaging

Global Cancer Imaging System Market Revenue Outlook:

The global cancer imaging system industry is expected to index a market valuation of USD 12.24 Bn by 2026, and is further projected to register а САGR of 5.3% by 2031. The global cancer imaging system market is segmented on the basis of product type, diseases indications, end-users, and regions. In terms of product type, the Computerized Tomography (CT) sub-segment is to grow exponentially in terms of revenue. The markets in North America are slated to account for a higher market revenue share, followed by those in Europe. This can be attributed to the large presence of key market players in this respective region, advanced research infrastructure, as well as the availability of resources and advanced technologies. Markets in the Asia Pacific region are expected to emerge as the fastest-growing segment of this global industry, in terms of CAGR, owing to improved manufacturing activities, a growing awareness of cancer disease prevention and treatment, as well as increased R&D funding, particularly in emerging economies such as China and India.

Cancer Imaging System Market Dynamics:

• Increasing cases of numerous varieties of cancer throughout the globe, a spike in public awareness levels concerning the importance of early cancer analysis, and various technological advancements in diagnostic structures are some primary factors that continue to fuel worldwide marketplace sales.
• Cancer imaging systems are gaining popularity and are becoming an essential form of equipment necessary for early cancers detection and diagnostics, thereby reducing the mortality rate in the process.
• The demand for CIS has increased on a large-scale due to early disease diagnosis, a rapidly growing global population, the subsequent increase in chronic diseases, technological advancements in the diagnostic imaging industry, as well as increasing investments, funds, and grants by public-private organizations towards this given global market.

COVID-19 Impact Analysis on Cancer Imaging System Market:

The COVID-19 epidemic has resulted in the enforcement of respective lockdowns, either complete or partial, and this in turn immensely affected trade activities across several countries. This crisis has drastically impacted small-scale hospitals and imaging centers owing to their smaller-sized budgets. This pandemic even impacted respective supply chains deemed necessary for various cancer imaging system manufacturing companies. The gap between market demand and supply drastically increased, making it difficult for manufacturers and distributors to manage their operations effectively. A growing number of organizations were forced to either temporarily halt dat-to-day activities or had to downsize their existing workforce to further compensate.

Cancer Imaging System Market Drivers:

• According to statistical data, in 2020, there have been almost 10 million cancer deaths globally. In 2030, this figure is expected to reach 14 million, and is expected to increase to 16.3 million by 2040. The most familiar type of cancer in 2020 was breast cancer. However, lung cancer has been found to be the deadliest form of cancer.
• Growth in technology and a surge in the demand for lab automation are principal elements anticipated to propel the worldwide cancer imaging system marketplace forward over the forecast period. The number of private diagnostic facilities are also growing in number across the globe. There may be an increase in the requirement for various diagnostic imaging methods, and an increased burden on hospitals as a direct result of the limited number of imaging methodologies that are at their disposal.
• A lack in adequate skilled laborers or technicians necessary to operate these lab centers has not dampened the ever-increasing demand for these types of infrastructure across the world, particularly over the last few years. It is a reasonably effective solution to address less skilled personnel and aids in lowering human intervention in various laboratory techniques.

Cancer Imaging System Market Restraints:

• Companies face several types of risks—both internal and external. One risk in particular is product recall, which typically occurs after a product or service has reached its consumers. No enterprise ever desires to deal with a product recall case. A product recall can change a business enterprise's financial profile, its overall performance inside the market, and may have a negative impact on the company’s brand image.
• According to the Food and Drug Administration (FDA) data, the intended use of SIEMENS branded linear accelerator systems delivers x-ray photon and electron radiation for cancer therapy. The company soon became aware of a potential issue resulting in a service engineer receiving electrical shocks. In this case, a manufacture must make amends and take appropriate action to avoid further penalties. A product recall is the process of replacing and retrieving defective goods.

Report Scope:

• Forecast Period: 2022-2028
• Actual Year: 2021
• Historical Data Available for: 2015-2020

The Market for Global Cancer Imaging System Market is segmented based on Product Type, Disease Indications, End-Users, and Region

By Product Type:

• Computerized Tomography(CT)
• Mammography
• Magnetic resonance imaging (MRI)
• Ultrasound
• Positron Emission Tomography (PET)
• Other Products

Disease Indication:

• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Melanoma Cancer
• Prostate Cancer
• Kidney Cancer

End User:

• Hospitals and Clinics
• Diagnostic Centers
• Other End Users

Competitive Landscape:

The leading manufacturers operating in the cancer imaging system are stated below

• GE Healthcare
• Hitachi Medical
• Becton, Dickinson
• Konica Minolta
• Neusoft Medical
• Esaote
• Dilon Diagnostics
• Fujifilm Holdings Corporation
• Toshiba Medical Corporation
• Thermo Fisher Scientific Inc.
• Cr Bard Inc.
• Agilent Technologies
• Abbott
• Illumina Inc.
• Roche
• Philips Healthcare
• Other Key Players

Key Regions Covered:

• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• South Korea
• India
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
• Rest of MEA