(Health-NewsWire.Net, January 11, 2022 ) The increasing prevalence of lymphedema and cancer; technological advancements in diagnostic imaging modalities; and increasing investments, funds, and grants by public-private organizations are the major factors driving the growth of this market.
According to the new market research report "Lymphedema Diagnostics Market by Technology (Lymphoscintigraphy, MRI, Near IR Fluorescence Imaging, Ultrasound), Disease Type (Cancer, Inflammatory Diseases, Cardiovascular, Filariasis), End User (Hospitals, Diagnostic Centers) - Global Forecasts to 2024", published by MarketsandMarkets™, is projected to reach USD 35 million by 2024 from USD 24 million in 2019, at a CAGR of 7.4%.
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The lymphoscintigraphy segment accounted for the largest share of the Lymphedema Diagnostics Market in 2018.
Based on technology, segmented into lymphoscintigraphy, magnetic resonance imaging (MRI), ultrasound imaging, computed tomography (CT), X-ray lymphography, bioimpedance analysis, and near-infrared fluorescence imaging. In 2018, the lymphoscintigraphy segment accounted for the largest share of the Lymphedema Diagnostics Market. The noninvasive nature and easy reproducibility of this technology, and the fact that lymphoscintigraphy does not adversely affect the lymphatic vascular endothelium are some of the key advantages supporting the adoption of this technology.
The cancer segment accounted for the largest share of the Lymphedema Diagnostics Market in 2018.
On the basis of disease type, segmented into cancer, inflammatory diseases, cardiovascular disease, and other diseases (congenital abnormalities, trauma-related conditions, infections, and filariasis). The cancer segment accounted for the largest share of the Lymphedema Diagnostic Market in 2018. The large share of this segment can be attributed to the rising prevalence of cancer-associated lymphedema and increasing awareness about early disease diagnosis.
The hospitals segment accounted for the largest share of the Lymphedema Diagnostics Market in 2018.
On the basis of end user, segmented into hospitals, diagnostic centers, research & academic institutes, and other end users (pharmaceutical & biotechnology companies and CROs). The hospitals segment accounted for the largest share of the Lymphedema Diagnostics Market in 2018. The large share of this segment can be attributed to the large number of lymphedema diagnostic procedures performed in hospitals, the growing adoption of minimally invasive procedures, and the rising adoption of advanced imaging modalities to improve workflow efficiency in hospitals.
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The Asia Pacific region is expected to grow at the fastest rate during the forecast period.
The lymphedema diagnostics therapy market is segmented into four regional segments, namely, North America, Europe, the Asia Pacific, and the Rest of the World. The large share of North America can be attributed to factors such as the easy availability and rapid adoption of technologically advanced imaging systems; high incidence/prevalence of lymphedema; and the strong, well-established healthcare systems. The market in the Asia Pacific is expected to grow at the highest rate, followed by Europe.
The major players operating in the Lymphedema Diagnostics Market are GE Healthcare (US), Philips (Netherlands), and Siemens Healthineers (Germany). Other prominent players in this market include Canon, Inc. (Japan), Shimadzu Corporation (Japan), Stryker Corporation (US), Fluoptics (France), United Imaging Healthcare Co., Ltd. (China), Hitachi, Ltd. (Japan), Esaote, SpA (Italy), Neusoft Corporation (China), Mindray Medical International, Ltd. (China), Mitaka USA, Inc. (US), Curadel, LLC (US), and ImpediMed Ltd. (Australia).
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Mr. Aashish Mehra