Key Research Findings on Precision Cancer Imaging Market: Industry Development Scenario and Forecast to 2027
Research Nester released a report titled “Precision Cancer Imaging Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global precision cancer imaging market in terms of market segmentation by imaging technique, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The precision cancer imaging market is anticipated to grow at a significant CAGR during the forecast period, i.e., 2019-2027 as a result of increasing demand for improved cancer diagnostic techniques across the globe. Non-invasive diagnostic tests such as precision cancer imaging provides accurate screening without the introduction of any medical device inside the body. This is highly desirable among patients across all the regions.
The market is segmented by imaging technique, by end user and by region. On the basis of end user, the market is further bifurcated into hospitals, clinics, diagnostic & imaging centers and others, out of which, the hospitals segment is estimated to grow at the highest rate during the forecast period as a result of rising demand for cancer treatments in hospitals, which can be further attributed to increasing prevalence of cancer around the globe, especially among the geriatric population. Data presented by the American Cancer Society suggested that prevalence of cancer is estimated to increase among people who are 85 or older that are anticipated to contribute to 17% of the total deaths by cancer in 2019.
Regionally, the largest market share is anticipated to be held by the market in North America region on account of growing technological innovations in the healthcare sector. Presence of several diagnostic and imaging techniques in the region is a major factor estimated to drive the market growth during forecast period.
Precision cancer imaging market in Asia-Pacific region is estimated to grow at the highest rate in upcoming years on account of increasing advancements in the healthcare industry and growing occurrence of cancer among the large population in the region.
Rising Demand for Non-Invasive Diagnostic Tests to Drive the Market Growth
Non-invasive nature of precision cancer imaging techniques as well as early detection of cancer made possible by them are important factors supporting the market growth. Moreover, the ease of conducting diagnostic tests and provision of faster and highly accurate results is further leading to the growth of precision cancer imaging market.
High Cost of Techniques to Restrict the Market Growth
According to W.H.O., about 70% of deaths from cancer occur in low and middle income regions. This data suggests that precision cancer imaging techniques, which are highly expensive, are unaffordable to a large section of the population, a factor which is estimated to restrain the growth of precision cancer imaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global precision cancer imaging market which includes company profiling of Becton, Dickinson and Company, Thermo Fisher Scientific, Siemens Medical Solutions, F. Hoffmann-La Roche, Canon Medical Systems, bio Mérieux, General Electric Company, Koninklijke Philips N.V., Hitachi Medical Systems and Canon Medical Systems. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global precision cancer imaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.