Test Phantoms Market Size, Share, Growth, and Industry Analysis, By Type (CT Test Phantoms, Mammography Test Phantoms, Ultrasound Test Phantoms, Radiation Oncology Test Phantoms, MRI Test Phantoms, and Others), By Application (Research Institute, School, Hospital, and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

test phantoms market Report Overview

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The global test phantoms market size was USD 209.9 million in 2022 and is expected to reach USD 258 million in 2028, exhibiting a CAGR of 3.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the test phantoms market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A test phantom is a specially designed object that is scanned or imaged in the field of medical imaging. It serves as a valuable tool in radiology for simulating and testing medical imaging procedures. Test phantoms have a well-established history in medical physics, where they play a crucial role in evaluating and fine-tuning new imaging techniques before their clinical application on human subjects. Phantoms were originally employed for use in 2D x-ray based imaging techniques such as radiography or fluoroscopy, though more recently phantoms with desired imaging characteristics have been developed for 3D techniques such as SPECT, MRI, CT, Ultrasound, PET, and other imaging methods or modalities.

COVID-19 Impact: Need for Advanced Imaging Technologies for COVID-19 Detection Supported the Market

The COVID-19 pandemic prompted a surge in demand for medical imaging phantoms as healthcare organizations accelerate the adoption of advanced imaging technologies for COVID-19 detection and prevention. In addition, medical imaging became essential, and phantoms were crucial for quality assurance, calibration, and training purposes. They facilitated the optimization of imaging equipment, ensuring accurate diagnostic information during the coronavirus outbreak. As a result, the market experienced continuous growth throughout this health emergency and it is expected that the market will rise steadily during this projection period. 

Latest Trends

"AI and Machine Learning Integration Inflate the Market Scope"

The constantly emerging trends and advancements in technology have strengthen the growth rate of the market. As well as it is anticipated that the market will expand in this forecast due to ongoing trends and innovative technology. For instance, the integration of computational modelling and simulation technologies is gaining prominence. Virtual phantoms, created through computer simulations, allow for comprehensive testing and validation without the need for physical phantoms. This trend is particularly notable in medical imaging, where virtual phantoms are used to simulate patient-specific conditions and scenarios. Artificial intelligence (AI) and machine learning are also being increasingly integrated into the development and use of phantoms. Along with this, there is a growing emphasis on creating patient-specific phantoms in medical imaging and radiation therapy. Advances in 3D printing and imaging technologies allowed for the fabrication of phantoms that closely matched individual patient anatomies, improving the accuracy of treatment planning and quality assurance. 

Moreover, In August 2020, the National Institutes of Health (NIH) introduced the Medical Imaging and Data Resource Center (MIDRC), a pioneering initiative harnessing the power of artificial intelligence (AI) and medical imaging to elevate the detection and treatment of COVID-19.

test phantoms market Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into CT Test Phantoms, Mammography Test Phantoms, Ultrasound Test Phantoms, Radiation Oncology Test Phantoms, MRI Test Phantoms, and Others.

• By Application Analysis

Based on application, the market can be divided into Research Institute, School, Hospital, and Others.

Driving Factors

"Rising Demand for Phantom Products Surge the Demand for the Device"

The growing prevalence of chronic diseases such as cancer, tuberculosis, and others, and increasing awareness of early diagnosis of test phantoms, are the major factors of the test phantoms market growth. As this device plays a vital role in medical imaging. Additionally, the rising demand for phantom products from various sectors, including medical device manufacturers and research institutes is also stimulating market growth. These entities require phantoms for multiple purposes, notably product development and quality assurance. Phantoms serve as invaluable tools to test and validate the performance of medical devices, ensuring they meet stringent quality and safety standards which boost the demand for the device. 

"Advantages of Phantom-Based Testing Escalate the Growth of the Market"

Phantom-based testing has gained popularity in medical device manufacturing due to several advantages it offers over traditional testing methods which is expected to drive the market’s growth. Phantoms provide a controlled and repeatable environment for testing, which is crucial for ensuring the reliability and accuracy of medical devices. Additionally, phantom-based testing allows for standardized procedures, making it easier to compare results across different tests and laboratories. This approach reduces variability and enhances the reproducibility of test outcomes which is likely to enhance the demand for test phantom over this forecast.

Restraining Factors

"High Initial Costs Can Limit the Market Expansion"

The restraining factor of the market such as the high cost of the test phantom can impede the market growth. Since the upfront cost of acquiring high-quality test phantoms and related equipment can be extensive. This cost may deter smaller healthcare facilities and research institutions from investing in the latest phantom technologies can limit market expansion.

test phantoms market Regional Insights

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"North America Dominates the Market with High Adoption of CT Test Phantom in Oncology Application"

As per previous years' records, North America was the leading region in the year 2019. The market in the region is mainly driven by the region’s strong reimbursement policies, high adoption rate of CT test phantom in radiation oncology application, heightened government investment in cancer research, and rising awareness about early diagnosis of cancer which is expected to continue to lead the market over this forecast. As well as the existence of key players in the region plays a pivotal role in the region’s leading position. Furthermore, in terms of global market revenue, North America is anticipated to hold the majority of the test phantoms market shares during this projection timeframe.

Key Industry Players

"KeyCompanies Invest in R&D to Innovate their Test Phantom Products to Maintain a Competitive Edge"

With regard to key players, notable companies in the market generate their highest profit revenue through a combination of strategies. They focus on continuous product innovation, ensuring quality assurance, and diversifying their offerings. Also, expanding globally, effective marketing, and strategic partnerships are tactics for growth. Customization, cost management, and compliance with regulations also play crucial roles. Moreover, around one-third share of the market is occupied by the top three key players globally. 

List of Market Players Profiled

• Gammex (U.S.)
• Fluke (U.S.)
• IBA (Belgium)
• Standard Imaging (U.S.)
• Biodex Medical Systems (U.S.)
• RaySafe (Sweden)
• Capintec (U.S.)
• The Phantom Laboratory (U.S.)
• Carville (U.K.)
• CIRS (U.S.)

Report Coverage

This report defines the test phantoms market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.