Market Outlook
The rising prevalence of prostate cancer is driving the demand for imaging devices. For instance, according to the National Cancer Institute, in the U.S., around 174,650 new cases were diagnosed in 2019. Also, increasing technological advancements in imaging devices are expected to further fuel market growth over the forecast period.
According to the research report, the global market is divided into five major regions such as North America, Europe, Latin America, Asia Pacific, the Middle East and Africa, and the Rest of the world. Among all regions, the North American region has the highest share in the global market share, and it is continuing its dominance over the forecast period 2022-2029. The Asia Pacific region is expected to produce the fastest growth rate over the forecast period 2022 to 2029.
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Increasing Prevalence of Prostate Cancer.
The increasing prevalence of prostate cancer is one of the important factors, which is expected to boost the growth of the market over the period of forecast. Prostate cancer is the second most frequent cancer diagnosis made in men and the fifth leading cause of death worldwide. Prostate cancer may be asymptomatic at the early stage and often has an indolent course that may require only active surveillance. based on GLOBOCAN 2018 estimates, 1,276,106 new cases of prostate cancer were reported worldwide in 2018, with a higher prevalence in developed countries.
Market Segmentation:
By Type:
- X-Ray
- MRI
By Solution
- Ultrasound
- Tomography
- Nuclear Medicine
- Textile Imaging
- Functional near-infrared spectroscopy
- Others
By End User:
- Hospitals & Clinics
- Cancer Research Centers
- Diagnostic Centers
- Others
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Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Prostate Cancer Imaging Market is a fragmented market with the presence of various global and regional players in the market. The major players include Siemens Healthineers AG, GE Healthcare, Hitachi Medical Corporation, Canon Medical Systems Corporation, Hologic Corporation, Philips Healthcare, Shimadzu Corporation, SonoSite Inc.
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