Advancing radiology is driving the growth in Global Radiomics Market in the forecast period, 2022-2026.
Additionally, growing government support and increased number of genomic studies, steady decreased cost for the genomic research and analysis are also supporting the growth of the global radiomics market in the next five years. The global radiomics market is geared to show exponential growth due to equipment developments, and increased application of the same in various diseases. Applications in bioengineering and synthetic biology is also substantiating the growth of the global radiomics market in the future five years.
Radiology is the study that specializes in diagnosing and treating injuries using medical imaging and equipment. These procedures use X-rays, computed tomography, magnetic resonance imaging etc. Radiomics is the computerized extraction of quantifiable data from radiological images in the form of radiographical cues that are usually sub-usual. The procedure of radiomics is quantitative imaging which is the use of algorithmic tools to provide objective and repeatable measurements of imaging biomarkers like size, texture, calcification, location in the organ and rate of growth.
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The global radiomics market segmentation is based on modality, image type, technology, application, competitional landscape, and regional distribution. Based on image type, the market is divided between 2D and 3D images. 2D images are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of surging demands for the early diagnosis. The method analysis the muscles and bone problems in the human body.
Various technologies that work on the imaging of 2 dimensional images of the body is utilized and thus aiding the growth of the segment as well as the global radiomics market in the next five years. 3D images are anticipated to hold the fastest growing CAGR due to growing demand from the healthcare advancements. The 3-dimensional images allow the diagnosticians to find out the issues more efficiently and effectively. Non-invasive procedures of the technologies further aid the growth of the market.
Based on application, the market is again segmented into nuclear medicine, medical imaging, precision medicine, oncology, and others. Precision medicine is anticipated to register fastest growing CAGR value since the section has recent advances and applications of radiomics. Also, with clinical decision support software, sensors, 3D printing, deep learning, and artificial intelligence (AI) being applied in the medical imaging, the precision medicine has vast scope for the future advancement of global radiomics market in the upcoming five years.
Radiomics.io (Computational Imaging & Bioinformatics Lab), Radiomics Bio (Belgium), Health Innovation Ventures (HIV), SOPHiA GENETICS SA, HealthMyne, Inc., Oncoradiomics, ptTheragnostic, are some of the market players holding the major shares of the global radiomics market. Market players are actively involved in the research and technological development in the product developments.
The advanced technology has made it possible for the industry to provide excellent services through radiomics. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North America is anticipated to hold the largest revenue shares in the future five years. The healthcare industry is rapidly evolving advanced methods for the development of the radio-genomics is further aiding the potential growth of the market. Countries like United States and Canada have dedicated research facility toward radiology and quantitative imaging. Surging chronic diseases and the urgency of their early diagnosis is also substantiating the growth of the market in the region. New market players must focus on the research and technological advancement of the radiomics such that rising consumer demands can be satisfied, and this would aid their brand establishment in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Radiomics Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Modality (Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Positron-Emission-Tomography (PET), Others), By Image Type (2D v/s 3D), By Technology (Engineered Features v/s Deep Learning), By Application (Nuclear Medicine, Medical Imaging, Precision Medicine, Oncology, Others), By Region”, has evaluated the future growth potential of global radiomics and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global radiomics market.
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