Medical Physics Market: Overview
Medical physics has transformed practice of diagnostic and therapeutic medicine, which relates to the use of radiation in medicine. The role of medical physicists in ensuring quality radiation therapy, improving the performance of quality medical imaging is a key factor underpinning the evolution of the medical physics market.
Research in medical physics has focused on assessing the potentially harmful effects of radiation on patients, clinicians, and healthcare staff. Strides that diagnostic and therapeutic medicine has made over the past few years have shaped the growth trajectory of the overall medical physics market. The expanding role of radiology, radiotherapy, and nuclear medicine in diagnostics and therapeutics is a case in point.
Over the years, physicists have been increasingly leaning on discovering processes, procedures, and technologies, that will expand the scope and relevance of healthcare applications. These efforts reinforce the growing outlook of the medical physics market.
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Medical Physics Market: Competitive Analysis and Key Developments
In recent years, medical physicists are being exhorted to improve their contribution to healthcare systems world over. A number of frameworks supporting related strategies is key to offering momentum in this direction. The American Association of Physicists in Medicine (AAPM ) in 2018 devised such a framework Medical Physics 3.0 (MP 3.0) after two years of relentless deliberations to this end. This will help greatly reinvigorate the role of medical physics in patient care in general, expanding the horizon of the market.
The association has urged physicists to securitize their role in medical area, and eventually gain a comprehensive understanding of patient care. Such initiatives are helpful in boosting the prospects of the medical physics market. Experts believe that Medical Physics 3.0 (MP3.0) is likely to set the pace for sustainable excellence in medical physics, my maximizing the contribution of physicists to improvement of human health.
Over the past few years, the medical physics market has been replete with mergers and acquisitions among the healthcare system manufacturers and healthcare providers. This has helped in boosting the adoption of cutting-edge diagnostic imaging in the medical physics market.
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Medical Physics Market: Key Trends
Medical physicists have been instrumental in improving the clinical efficacy and safety of wide spectrum of diagnostic and therapeutic modality. These include mammography systems, X-ray systems, computed tomography, magnetic resonance imaging, SPECT, and PET. Key end users include hospitals, academic and research institutes, ambulatory surgery centers, and diagnostic imaging centers.
The need for reducing radiation toxicity in tomotherapy and intensity modulation radiotherapy (IMRT) is boosting the medical physics market. Medical physics is a mix of scientists and healthcare and medical professional. Thus, their role in transforming human and animal health has expanded the vistas in medical physics market. In coming years, future slew of investments in the medical physics market include orthopedics, ophthalmology, medical photonics, surgery, radiogenomics, nano?medicine, dentistry, vascular medicine, and neuro?science.
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Medical Physics Market: Regional Analysis
On the regional front, North America and Europe have been vastly attractive medical physics markets. These regional markets have seen the increasing trend of outsourcing of medical physics. In recent years, the role of numerous regional associations, notably in the U.S., in expanding the role of medical physicists in human health has cemented the revenue potential of the global medical physics market. Strides being made by nuclear medicine have spurred revenues in the North America medical physics market.
The growing incidence of chronic diseases in developing regions such as Asia Pacific and Latin America is opening promising investment scope in these, making them fast emerging markets.
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