Medical Physics Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Medical Physics Market in 2025 is evaluated at USD 4.92 billion. The global Market size was worth more than USD 4.64 billion in 2024 and is poised to witness a CAGR of over 7.5%, crossing USD 11.88 billion revenue by 2037. North America is likely to cross largest share by 2037, driven by increasing use of medical imaging and CT scans across various sectors, along with rising healthcare expenditure.
The market is estimated to grow on the back of increasing investments in research and development in the healthcare sector along with a greater focus on improving human health. Additionally, the demand for medical physics goods and services is stoking the market's expansion because of the growing emphasis on providing high-quality healthcare at an affordable price. According to statistics, in 2020, the total investment in medical and health research and development (R&D) in the United States was approximately USD 243 billion.
The global medical physics market is also estimated to witness growth on account of the increasing prevalence of chronic diseases globally. In 2019, approximately 1,752,735 new cancer cases were diagnosed and approximately 599,589 citizens died of cancer in the United States, according to data from the Centers for Disease Control and Disease Prevention. In addition, according to data from the World Health Organization (WHO), around 10 million people died of cancer in 2020, making cancer a leading cause of death globally. Moreover, the adoption of telemedicine in the healthcare industry is also anticipated to contribute to the growth of the global medical physics market in the coming years.
