North American Test Phantoms Market 2022-2028

North American Test Phantoms Market 2022-2028

The North American test phantoms market is growing at a CAGR of 5.3% during the forecast period. The pivotal factors that drive the market include the rising incidence and prevalence rate of lifestyle-oriented diseases such as cardiac failure, cancer, chronic kidney disease, and chronic obstructive pulmonary disease (COPD), new developments in test phantoms, among others. As per the National Brain Tumor Society, there were 700,000 brain tumor cases in the US, in 2021, and approximately 85,000 will be diagnosed by the end of 2021. For brain tumor imaging, MRIs are used to detect the tumors in the body, creating significant scope for the growth of the test phantom market in North America.

Moreover, the rising incidences of breast cancer further create considerable scope for the market. According to World Health Organization (WHO), in 2021, there were a total of 281,491 breast cancer cases in North America, and these cases are expected to reach nearly 343,426 by 2040. The US accounted for 253,456 new cancer cases in 2021, which was 11.1% of the total cancer cases, which are expected to reach nearly 307,479 by 2040, whereas the new cancer cases registered in Canada were 28,026 which are expected to reach nearly 35,026 by 2040. For breast cancer imaging, phantom tissues are used to evaluate the in-vivo detection of breast cancer at early stages, and the measures of the concentration were achieved. Hence, this is likely to aid the market growth during the forecast period.

The North American test phantoms market is segmented based on product type as X-ray phantoms, CT scan phantoms ultrasound phantoms, nuclear imaging phantoms, MRI phantoms, and others (Mammography Phantom and Tomographic Phantom). Among these, the X-ray phantom segment of the market is projected to grow substantially at a CAGR of 4.8% during the forecast period. The segmental growth of the market is attributed to the broad range of applications of X-ray phantoms in medical imaging including digital radiography (DR), computed radiography (CR), and Fluoroscopy X-ray systems. These phantoms utilize ionizing radiation to create the image of the body to evaluate and diagnose certain medical conditions. Increased adoption of X-ray machines and imaging device applications is likely to create the scope for the segmental growth of the market.

The prominent players operating in the North American test phantom market include FLUKE Corp., Sun Nuclear Corp., Computerized Imaging Reference Systems, Inc. (CIRS), Radcal, Biodex Medical Systems, Inc., PTW Freiburg, The Phantom Laboratory, Mirion Technologies (Capintec), Inc., and others. These players are focusing on adopting different growth strategies such as mergers and acquisitions, collaboration, partnership, and product development, among others, to stay competitive.