Medical Imaging Phantoms Market

Increasing prevalence of chronic illnesses and the rising geriatric population are driving the market growth

Market CAGR for Medical Imaging Phantoms is driven by the increasing prevalence of chronic illnesses and the rising geriatric population. The growing trend of chronic ailments such as cancer, cardiovascular diseases, neurodegenerative disorders, and chronic respiratory disorders, among others, has become a critical driver that is sustaining the expansion of the market for medical imaging phantoms. Such an environment promotes consistent and accurate diagnostics, treatment, and periodic imaging monitoring. The World Health Organization (WHO), as stated, considers NCDs, being chronic non-communicable diseases, to be the leading cause of death and morbidity  ly.

The death rate of chronic illnesses is staggering; 41 million humans from all corners of the globe succumb to chronic health problems each year, which accounts for 71% of all occurrences worldwide. In 2022, there were about 20 million cancer as new cases and 9.7 million deaths from cancer. The current number of people who lived within 5 years of receiving a cancer diagnosis is 53.5 million. There is around a 20% chance an individual will develop cancer during their lifetime.

The rates of men and women who die from the disease are about 1 in 9 and 1 in 15, respectively. The aforementioned disorders only trigger the ever-rising demand for imaging devices and phantoms, which play a definitive role in accurate and definitive diagnoses and treatment outcomes.

This aging population trend influences the growth of the Medical Imaging Phantoms Market. As a result, it is anticipated that throughout the projection period, demand for the Medical Imaging Phantoms Market will increase due to the increasing prevalence of chronic illnesses and the rising geriatric population. Thus, driving the Medical Imaging Phantoms Market revenue.

The Global Medical Imaging Phantoms Market Industry is projected to experience steady growth over the coming years. By 2024, the market is anticipated to reach 0.22 USD Billion, with expectations of reaching 0.33 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 3.65% from 2025 to 2035. Such projections indicate a robust demand for medical imaging phantoms, driven by advancements in imaging technologies, regulatory requirements, and the increasing focus on patient safety. The market's expansion reflects the essential role of phantoms in ensuring the quality and reliability of medical imaging.

Patient safety remains a paramount concern in healthcare, particularly in diagnostic imaging. The Global Medical Imaging Phantoms Market Industry is driven by the increasing awareness of the need for safety protocols in imaging procedures. Phantoms play a crucial role in simulating human tissue responses, allowing for the assessment of imaging systems' performance and safety. As healthcare providers prioritize patient safety, the utilization of phantoms for quality control and assurance is likely to expand. This focus on safety not only enhances the reliability of imaging results but also fosters trust in medical imaging practices.

The Global Medical Imaging Phantoms Market Industry benefits from the increasing demand for diagnostic imaging services. As the prevalence of chronic diseases rises globally, healthcare providers are investing in advanced imaging technologies to facilitate early diagnosis and treatment. This trend drives the need for medical imaging phantoms, which are essential for validating imaging systems and ensuring patient safety. The market is expected to grow at a CAGR of 3.65% from 2025 to 2035, reaching an estimated 0.33 USD Billion by 2035. This growth underscores the critical role of phantoms in maintaining the quality of diagnostic imaging.

Regulatory bodies worldwide emphasize the importance of quality assurance in medical imaging. The Global Medical Imaging Phantoms Market Industry is influenced by stringent regulations that mandate the use of phantoms for testing and calibration of imaging equipment. Compliance with these regulations ensures that healthcare facilities provide safe and effective diagnostic services. As a result, the demand for phantoms is likely to increase as facilities strive to meet these standards. This regulatory landscape not only supports market growth but also enhances the credibility of imaging services, ultimately benefiting patient outcomes.

The Global Medical Imaging Phantoms Market Industry is experiencing a notable surge due to rapid advancements in imaging technologies. Innovations such as 3D imaging, digital radiography, and hybrid imaging systems enhance the accuracy and efficiency of diagnostic procedures. These advancements necessitate the use of phantoms for quality assurance and calibration, ensuring optimal performance of imaging devices. As healthcare facilities increasingly adopt these technologies, the demand for sophisticated phantoms rises. By 2024, the market is projected to reach 0.22 USD Billion, reflecting the growing integration of advanced imaging modalities in clinical settings.

Emerging markets are witnessing significant investments in healthcare infrastructure, which positively impacts the Global Medical Imaging Phantoms Market Industry. As countries develop their healthcare systems, there is a growing emphasis on adopting advanced medical imaging technologies. This trend creates a demand for medical imaging phantoms to ensure the accuracy and reliability of these technologies. The influx of investments into healthcare is expected to drive market growth, as facilities seek to enhance their diagnostic capabilities. Consequently, the market is poised for expansion as emerging economies prioritize healthcare advancements.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Medical Imaging Phantoms market in North America can be attributed to several key factors.

A rise in healthcare spending and the addition of new CT Scanners and MRI devices in the region brought about the highest growth in the North American market. Health expenditure in the United States increased by 4.1% to $4.4 trillion or $13,493 per capita in the year 2022. Such a growth figure is close to the pre-pandemic one (4.4% in 2019). Health spending amounted to 17.3% of GDP in 2022, which is similar to the 2019 level (17.5%) after an increase in 2020 (19.5%) and 2021 (18.2%). The United States spent as much as $4,464.4 billion on healthcare expenditures in 2022. Among those categories, a yearly average rise was 4.2% for physician services, 4.4% for hospital care and 4.7% for prescription drugs scored from 2012-2022. Also, the disease control and the treatment of various diseases in the US and Canada are likely to influence the adoption of medical imaging devices.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:   MEDICAL IMAGING PHANTOMS MARKET SHARE BY REGION 2023 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Medical Imaging Phantoms Market accounts for the second-largest market share in Western Europe.

In many countries, there is a high incidence of chronic illnesses such as cancer, cardiovascular diseases, and nervous disorders. The number of new cases of cancer increased by 2.3%, adding up to 2.74 million in 2022 compared to 2020. Furthermore, the cancer mortality index suffered an advance of 2.4 % in contrast to 2020, as observed by the European Commission. Cancer affects men slightly more than women: 53% share of new cases and 55% of deaths from cancer per both men. The accurate diagnosis and efficient treatment of diseases like these can be achieved by extensive reliance on radiology imaging. This has consequently created a significant need for medical imaging phantoms in the area.

Further, the German Medical Imaging Phantoms Market held the largest market share, and the UK Medical Imaging Phantoms Market was the fastest-growing market in the European region

The Asia-Pacific Medical Imaging Phantoms Market is expected to grow at the fastest CAGR from 2024 to 2032.

The growing number of diseases, such as cancer and cardiovascular diseases, has led to the necessity for speedier and more precise diagnosis and treatment. The WHO in 2020 reported approximately 2.2 million new cancer incidences and 1.4 million deaths from cancer caused in the South-East Asia Region. Nevertheless, these deaths were higher than 10 % of overall deaths, which contributed to high fatality counts in the region. Accordingly, in 2022, there was a conjectured count of 1,461,427 new cases of cancer and a rough incidence rate of 100.4 per 100,000 persons in India. Exactly one Indian among ten people is likely to have a cancer diagnosis during the rest of his life. This helps to respond to the imminent need for medical imaging devices and phantoms, which consequently improve the quality and expand the range of healthcare services.

Moreover, China’s Medical Imaging Phantoms Market held the largest market share, and the Indian Medical Imaging Phantoms Market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Medical Imaging Phantoms market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their   footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Medical Imaging Phantoms industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the   Medical Imaging Phantoms industry to benefit clients and increase the market sector. In recent years, the Medical Imaging Phantoms industry has offered some of the most significant advantages to the field of medical diagnostics and treatment optimization.

Major players in the Medical Imaging Phantoms Market, including PTW Freiburg GmbH, Gold Standard Phantoms, Kyoto Kagaku Co., Ltd., Pure Imaging Phantoms, Dielectric Corporation, Modus Medical Devices, Carville Limited, Mirion Technologies, Inc., Leeds Test Objects are attempting to increase market demand by investing in research and development operations.

Mirion Technologies, Inc. develops, smarts, and supplies the radiation discovery devices, detectors, analyzers, and monitors used by security agencies, the government, and the medical industry. The company provides medical and technological tools.

Its medical equipment assortment includes imaging tables and accessories, medical scintigraphy instruments, occupational dosimetry means, and others; its technological line comprises spectroscopy and analysis systems, health physics and radiation protection devices, defense and security, radiation quality control means, reactor instrumentation and more. The company also serves the civil and military industries like nuclear power, laboratories, defense and security, decontamination, decommissioning, and waste management. The business runs its local branches - in Canada, the USA, Europe and Asia. As for Mirion, the headquarters are located in Atlanta, Georgia, the US In September 2020, Mirion Technologies, a provider of commercial solutions to medical nuclear energy, defense, and other cutting-edge technologies, made a strategic acquisition of Biodex Medical Systems, a medical industry leader in supplying medical imaging equipment, rehabilitation systems, and nuclear medicine instruments. The deal will extend the company's footprint in the medical sector.

PTW, a dose-measuring company, is a worldwide market position leader specializing in four areas: radiation therapy, diagnostic radiology, metrology, and radiation monitoring. Recently, PTW’s inventions and technologies have been substantively used in general and subspecialty radiation medicine for almost a century. Within this dosimetry market, PTW is, at the core, acting as the primary player. They have emerged as a powerful player in several countries and across several product categories. With the biggest customer network  ly, PTW is recognized as the market leader in the areas of dosimetry technology, which includes more than –50 unique products - detectors, water phantoms, dosemeters, electrometers, and cutting-edge solutions for the quality assurance of clinical radiation equipment. In 2020, PTW acquired a share in phantom manufacturer QRM: Such collaboration combines the deficiency approaches to quality assurance in radiation therapy and diagnostic radiology.