The global test phantoms market is anticipated to grow at a considerable CAGR of 6.7% during the forecast period. The rising number of drug discovery and development activities and R&D in medical devices is resulting in an increasing number of clinical trials in the region. North America has the largest share in drug discovery and development activities across the globe, which in turn, is resulting in growth in clinical trials in the region. As per the US FDA, in 2020, the Center for Drug Evaluation and Research (CDER) approved 53 novel drugs, either as new molecular entities (NMEs) under new drug applications (NDAs) or as new therapeutic biologics under biologics license applications (BLAs). In 2019, CDER approved 48 novel drugs, either as NMEs under NDAs or as new therapeutic biologics under BLAs. The COVID-19 outbreak is further leading to an increasing number of clinical trials in the country. In addition, the emerging focus on precision medicine is also supporting the rise in clinical trials in the country.
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As per the Personalized Medicine Coalition, the number of personalized medicines on the market in the US has grown from 132 in 2016 to 286 in 2020. This, in turn, has resulted owing to the rising focus on the development of personalized medicines, which is supporting the rising number of clinical trials across the US. A wide range of imaging modalities is used in clinical trials which is leading to increasing demand for several different kinds of phantoms. Phantoms that are designed for positron emission tomography (PET) scans are normally used for staging and treatment monitoring. Several imaging modalities support the generation of primary, secondary and exploratory study endpoints. Imaging modalities including PET/CT, CT, and MRI offer evidence of drug effects and treatment efficacy with the delivery of response biomarkers. Phantom augments the accuracy and reliability of data obtained from medical imaging. Therefore, significant demand for medical imaging modalities in clinical trials is leveraging the demand for phantoms.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Product Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- 3-Dmed., Biodex Medical Systems, Inc., Mirion Technologies (Capintec) Inc., IBA Dosimetry GMBH and True Phantom Solutions Inc. among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Test Phantoms Market Report Segment
By Product Type
Global Test Phantoms Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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