Medical Imaging Phantoms Market

Market Overview

The global medical imaging phantoms market size was valued at USD 157.08 million in 2022. It is estimated to reach USD 231.03 million by 2031, growing at a CAGR of 4.38% during the forecast period (2023–2031). The market is anticipated to be influenced by several factors during the forecast period. The primary aspect boosting the market expansion is the surging prevalence of chronic diseases due to several factors like tobacco use, the harmful utilization of alcohol, physical inactivity, and unhealthy diets worldwide. Moreover, the soaring geriatric population, who are more prone to chronic illness, is further anticipated to expedite the expansion of the global market.

Medical imaging phantoms are synthetic objects designed to replicate the physical characteristics of human tissues and organs. These phantoms serve multiple functions in developing, testing, calibrating, and quality assurance medical imaging equipment and processes. They provide a controlled and reproducible technique to test the performance of imaging systems and verify their accuracy and dependability.

Medical imaging phantoms are categorized into various forms, each tailored for unique modalities, including X-ray, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and nuclear medicine. The selection of a phantom is contingent upon the imaging modalities and the precise parameters that require evaluation. Medical imaging phantoms are essential for advancing and maintaining imaging technology, guaranteeing medical images' accuracy, dependability, and therapeutic significance. These devices are utilized in medical imaging departments for research, teaching, and routine quality assurance operations.

Market Dynamics

Global Medical Imaging Phantoms Market Drivers

Increasing Prevalence of Chronic Illnesses

An important factor contributing to the growth of the medical imaging phantoms market is the rising prevalence of chronic illnesses, including cancer, cardiovascular diseases, neurological disorders, and chronic respiratory diseases. These conditions necessitate frequent and accurate diagnosis, treatment, and monitoring imaging. As per the World Health Organization (WHO), chronic non-communicable diseases (NCDs) constitute the primary cause of mortality and impairment globally. Chronic illnesses claim the lives of 41 million individuals annually on a global scale, accounting for approximately 71% of all fatalities worldwide.

Additionally, the majority of deaths caused by chronic diseases are due to cardiovascular illnesses, with a yearly toll of 17.9 million individuals. Cancers are the second leading cause, resulting in 9.3 million deaths annually. Chronic respiratory diseases account for 4.1 million deaths, while diabetes, including deaths caused by renal disease related to diabetes, causes 2.0 million deaths each year. These disorders contribute to the growing need for medical imaging equipment and phantoms, which are crucial in delivering precise and dependable diagnoses and treatment results.

Rising Geriatric Population

The surge in the geriatric population is linked to a higher prevalence of age-related illnesses requiring regular medical imaging tests. Due to developments in modern medicine and the healthcare sector, life expectancy has increased to the point where most people can anticipate living well into their sixties and beyond. The aging population of the globe is mostly concentrated in six nations: China, the United States, India, Japan, Germany, and the Russian Federation. These countries collectively account for almost 54% of the global aged population.

Moreover, the geriatric population is growing in almost every country worldwide. According to the United Nations Report, the worldwide population of 65 and above reached 771 million in 2022, accounting for around 10% of the global population. Projections suggest that it is expected to increase to a rate of 16% by 2050 and is further predicted to rise to 24% by 2100. This demographic phenomenon is a significant factor in expanding the medical imaging phantoms market.

Global Medical Imaging Phantoms Market Restraint

High Purchasing and Maintenance Costs

The primary limitation of the medical imaging phantoms market is the high expenses of purchasing and maintaining medical imaging instruments and phantoms. As they necessitate qualified personnel, routine calibration, quality control, and repair, medical imaging devices and phantoms are costly to acquire, install, operate, and maintain. Block Imaging reported that in 2023, the CT scanner had an average price range of USD 80K–300K, while the PET scanner had an average price range of USD 225K–750K.

Additionally, the price of medical imaging phantoms fluctuates based on factors such as the phantom's category, composition, dimensions, and intricacy. As per a report by the National Institute of Standards and Technology (NIST) in 2018, the price range for a head phantom was between USD 1,500 and USD 15,000, the price range for a chest phantom was between USD 2,000 and USD 20,000, and the price range for a whole-body phantom was between USD 10,000 and USD 100,000. Moreover, the high costs and maintenance required for medical imaging devices and phantoms may impede their affordability and accessibility, particularly in low- and middle-income nations, thereby hindering market expansion.

Global Medical Imaging Phantoms Market Opportunities

Technological Advancements

The medical imaging and phantoms market is experiencing growth opportunities due to technological advancements, including 3D printing, multimodal imaging, and image-guided radiation therapy (IGRT). The utilization of 3D printing technology allows for the creation of inexpensive, personalized, and lifelike phantoms that accurately replicate the anatomical and physiological characteristics of human tissues and organs.

Multimodal imaging integrates various imaging techniques, including CT, MRI, PET, and SPECT, to offer supplementary and all-encompassing data regarding the structure and function of the body. Image-guided radiation therapy (IGRT) uses many imaging modalities, including X-ray, ultrasound, and MRI, to precisely direct and monitor the administration of radiation therapy to the specific tumor site while limiting harm to surrounding healthy tissues. These technologies improve the efficiency and precision of medical imaging devices and phantoms, creating market expansion opportunities.

Regional Analysis

Based on region, the global medical imaging phantoms market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East, and Africa.

North America is the most significant global medical imaging phantoms market shareholder and is expected to expand substantially during the forecast period. Due to several factors, the medical imaging phantoms market is projected to have the most extensive share in North America. These factors include the high occurrence of chronic diseases, the widespread use of advanced medical imaging devices and phantoms, well-developed healthcare infrastructure and facilities, and the availability of skilled and trained workers. As per the American Heart Association, cardiovascular disease (CVD) remained the primary cause of mortality in the United States, resulting in 928,741 deaths in the year 2020.

According to the Canadian Chronic Disease Surveillance System (CCDSS) data from 2017-2018, around 1 in 12 Canadian adults aged 20 and above, which is equivalent to 2.6 million individuals, have been diagnosed with heart disease. It is also worth noting that on an hourly basis, around 14 Canadian individuals who are 20 years old or older and have been diagnosed with heart disease pass away. Moreover, there is an increasing prevalence of the geriatric population in the region, who are particularly susceptible to chronic illnesses. According to a publication in PubMed, the population of individuals aged 50 years and above in the United States is projected to grow by 61.11%, from 137.25 million in 2020 to 221.13 million in 2050. The predicted number of individuals aged 50 years and older with at least one chronic condition is projected to surge by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. These factors contribute to the growth of the regional market.

The Asia-Pacific region is expected to have the most significant growth rate for medical imaging phantoms in the global market over the forecast period. The healthcare sector in this region is seeing significant expansion due to increased healthcare spending, a growing population, urbanization, rising income levels, and more awareness of health concerns. In China, health expenditure has experienced a significant increase, rising from less than 500 billion yuan in 2000 to over 6.5 trillion yuan in 2019. Moreover, in 2022, the aggregate expenditure on healthcare in China surpassed 8.5 trillion yuan.

Furthermore, the region is facing an increasing prevalence of illnesses, including cancer, cardiovascular diseases, diabetes, and infectious diseases, which necessitate efficient and prompt diagnosis and treatment. In 2020, the WHO South-East Asia Region documented approximately 2.2 million new instances of cancer and 1.4 million deaths associated with cancer. These fatalities accounted for over 10% of the total number of deaths in the region. These features generate a substantial need for medical imaging devices and phantoms, as they enhance the quality and availability of healthcare services.

Moreover, these regions present appealing opportunities for market participants due to their limited market presence, significant unfulfilled demands, and advantageous governmental policies and efforts that promote the advancement and acceptance of medical imaging equipment and phantoms. All of these factors are predicted to contribute to the expansion of the regional market.

Segmental Analysis

The global medical imaging phantoms market is bifurcated into device type, material, and end-user.

Based on device type, the global medical imaging phantoms market is segmented into X-ray, ultrasound, CT, MRI, nuclear imaging, and others. 

The X-ray phantoms segment is the largest contributor to the market. X-ray phantoms are physical or mathematical models employed in medical imaging to replicate the properties of the human body. Phantoms are essential in multiple areas of medical imaging research, including equipment calibration, quality assurance, and education. Phantoms enhance X-ray image quality by enabling researchers and professionals to precisely adjust imaging parameters, including exposure settings, contrast, and resolution.

Researchers employ phantoms to address issues of radiation exposure, particularly in the field of medical imaging. These phantoms are utilized to devise and evaluate methods for minimizing radiation dosage without compromising the quality of the resulting images. The X-ray segment held the most significant market share due to the widespread use and cost-effectiveness of X-ray imaging in numerous fields, including orthopedics, dentistry, mammography, and angiography.

Based on material, the global medical imaging phantoms market is segmented into stimulating devices and false organs. 

The stimulating devices segment owns the highest market share. Stimulating devices in medical imaging are tools or equipment that generate specialized stimuli, such as light, sound, or electrical signals, to interact with biological tissues or contrast chemicals during imaging procedures. These devices are specifically engineered to replicate human tissues and organs' electrical, mechanical, and acoustic characteristics. They can be used with several imaging techniques, including ultrasound, CT, MRI, and nuclear imaging.

Moreover, these technologies are frequently utilized to augment the quality of medical images, boost contrast, or collect functional information about the tissues under examination. These devices are essential for acquiring diagnostic information, investigating physiological functioning, and enhancing our comprehension of diverse medical diseases. They improve the adaptability and precision of several imaging techniques used in medical diagnostics and research.

Based on end-users, the global medical imaging phantoms market is bifurcated into hospitals, diagnostic laboratories, and others. 

The hospital segment dominates the global market. Hospitals are the largest purchasers of medical imaging devices and phantoms because they execute many diagnostic imaging operations. The growing number of hospitals has a beneficial effect on the market. According to the 2021 American Hospital Association Annual Survey, there were 1,805 rural community hospitals, 3,336 urban community hospitals, and 3,453 community hospitals within a system in the United States in 2019.

Furthermore, the cumulative number of hospital admissions across all hospitals in the United States amounted to around 36,241,815 in 2019. Moreover, efficient reimbursement systems in hospitals in specific nations worldwide, which alleviates the financial strain on patients, contribute to expanding the hospital segment.

Recent Developments

• March 2023- Positron Corporation, a company specializing in molecular imaging devices and services, announced that it had signed a Clinical Study/Research Agreement with Ochsner Clinic Foundation and Dr. Robert Bober, the Director of Molecular Imaging and Nuclear Cardiology at Ochsner Health. The agreement is for conducting a clinical study on Positron's latest PET-CT imaging device, the Affinity PET-CT 4D.
• November 2023- Stratasys, a pioneer in polymer 3D printing and additive manufacturing technologies, collaborated with Siemens Healthineers on a research initiative to develop innovative ways to enhance medical imaging phantoms for computed tomography (CT) imaging.