Precision Medical Imaging Market: Propelling due to Growing Research and Development

Published Date: March 2024

The precision medical imaging market accounted for US$ 4.5 billion in 2019 and is estimated to be US$ 9.0 billion by 2029 and is anticipated to register a CAGR of 7.4%

The report "Precision Medical Imaging Market, By Application (Cardiovascular, Neurology, Gastroenterology, Infectious Diseases, Oncology, and Other) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

  • In April 2020, AMRA Medical renews collaboration with Pfizer Inc. aiming to generate the world’s largest imaging dataset on body composition profiling
  • In April 2019, Pfizer decided to work with Boston-based Concerto HealthAI for a collaboration that will apply Concerto's eurekaHealth artificial intelligence technology to precision oncology research. The partnership will use the AI platform to gain faster actionable insights for Pfizer‘s investigational therapies and commercialized therapeutics for treatment of solid tumors and hematologic malignancies

Analyst View:

Rising global outreach in emerging markets, increasing innovations in technology, growing research and development, and adoption of strategies such as collaboration are projected to dive growth of the precision medicine imaging market in the coming years.

Key players are focusing on innovation to expand their developing markets. For instance, Strata Oncology, Inc. and Synapse, Inc. together, launched an end-to-end precision oncology program to enhance outcomes of the treatment with reduced costs, as the firms are selecting the most promising precision medicine clinical trials. Further, in May 2017, Strata Oncology, Inc. also introduced Strata NGS test, which is manufactured for 90 gene targeted assay that deals on genetic alterations in tumor tissue and includes clinical trial eligibility markers and tumor markers. In August 2017, the U.S. Food and Drug Administration approved the first gene therapy, Kymriah (tisagenlecleucel). This therapy was developed by Novartis for the treatment of patients below 25 years of age with B-cell precursor acute lymphoblastic leukemia. It signifies a shift from chemotherapy to precision medicine. In 2016, AstraZeneca developed a next-generation asthma drug, Benralizumab, for eosinophil biomarker. It is a part of the new biological treatments for people with asthma, as AstraZeneca is shifting towards precision medicine to cure the disease.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Precision Medical Imaging Market”, By Application (Cardiovascular, Neurology, Gastroenterology, Infectious Diseases, Oncology, and Other) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:        

The precision medical imaging market accounted for US$ 4.5 billion in 2019 and is estimated to be US$ 9.0 billion by 2029 and is anticipated to register a CAGR of 7.4%. The market report has been segmented on the basis of application and region.

  • By application, oncology segment holds major revenue share in 2018 and is projected to lead over the forecast period. Precision medical imaging is mostly commonly used in oncology to detect cancer spread in specific parts of the human body.
  • By region, North America estimated for essential share in precision imaging market, owing to the established health care infrastructure, excessive healthcare expenditure, and consciousness in early diagnosis of diseases. Asia-Pacific precision imaging market is expected to register tremendous growth due to the presence of rising markets like India and China along with growing medical tourism due to modernization of hospitals and low prognosis costs in this country.

To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Global-Precision-Medical-Imaging-Market-4375

Competitive Landscape:

The prominent player operating in the Precision Medical Imaging market includes Ferrer Incode, Nanostring Technologies, Inc., Pfizer, Inc., Tepnel Pharma Services, Novartis AG, Teva Pharmaceutical Industries Ltd., Qiagen N.V., Merck & Co., Inc., and Quest Diagnostics.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

  • Explains an overview of the product portfolio, including product development, planning, and positioning
  • Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
  • Detailed analysis of the market revenue over the forecasted period.
  • Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
  • Study on the segments that are anticipated to dominate the market.
  • Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered

  1. Introduction
  • Study Deliverables
  • Study Assumptions
  • Scope of the Study
  1. Research Methodology
  2. Executive Summary
  • Opportunity Map Analysis
  • Market at Glance
  • Market Share (%) and BPS Analysis, by Region
  • Competitive Landscape
  • Heat Map Analysis 
  • Market Presence and Specificity Analysis
  1. Investment Analysis
  2. Competitive Analysis

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