Lymphedema Diagnostics Market worth $35 million by 2024 – Growing Global Prevalence of Cancer

PUNE, India, 2021-Apr-22 — /EPR Network/ — The 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“, is projected to reach USD 35 million by 2024 from USD 24 million in 2019, at a CAGR of 7.4%

What Drives the Market Growth?

The growing global 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. However, the high cost of diagnostic imaging systems, the short half-life of radiopharmaceuticals, the limited supply of helium, and the increasing adoption of refurbished diagnostic imaging systems are expected to restrain the growth of this market.

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Market Segmentation in Detailed:

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.

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 diagnostics 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.

Geographical View in-detailed:

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.

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Global Key Leaders:

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).

Siemens Healthineers (Germany) holds a strong position in the lymphedema diagnostics market owing to its robust product portfolio, offering major imaging modalities used for lymphedema imaging. To maintain its competitive position in the market, the company focuses on new product launches and collaborations as its key growth strategies. In line with this strategy, the company has launched various products during the past three years, such as the Multix Impact radiography system, Mobilett Elara Max mobile X-ray system, and Acuson Sequoia ultrasound system.