Global Spectral Computed Tomography Market: Information by Application (Oncology, Cardiology, Musculoskeletal Disorders and Gastrointestinal Diseases), End User (Diagnostic Centers and Hospitals & Clinics) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2025
The Spectral Computed Tomography (CT) Market Size is presumed to demonstrate 7.8% CAGR during the appraisal period (2017-2023) due to the rising prevalence of cardiac diseases, asserts Market Research Future (MRFR). Spectral computed tomography (SCT) is referred to as a scanning technique which separates the energy into two or more energy bands in place of using one broad energy band of x-rays. The introduction of spectral computed tomography has transformed the diagnostic system by providing the radiologists a clearer view of any type of discrepancies in the organs of the body.
The use of CT technologies has gained momentum especially due to the need for non-invasive medical examination. Reports that gauge the medical device industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is projected to accomplish a CAGR of 7.8% in the upcoming years.
The increasing demand for medical imaging is positively influencing the demand for spectral computed tomography. The mounting demand for spectral computed tomography market is fuelled by the high incidence rate of cardiac diseases, cancer, neurological diseases, and orthopedic diseases. Moreover, the launch of innovative medical imaging devices and products is expected to spur the expansion of the market in the impending period.
Spectral Computed Tomography Market Competitive Analysis
The progress of the market is expected to capture increased momentum in the coming years primarily due to the presence of conducive government policies. The growth turnaround in the market is expected to activate new opportunities for expansion of the market. The improvements in various domestic economies are expected to motivate the development of the market in the upcoming period. The accessibility to key tactical opportunities leading to consequent stabilization of inflation is anticipated to create promising openings for expansion in the coming years. In the coming years, the influence exerted by relatively high-income levels in nations around the world and the potential gains observed to some of the currencies in the world is expected to reinforce the evolution of the market in the forecast period. A considerable rise in the number of investors in the market is projected to create an advantageous scenario for the progress of the market in the forecast period.
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The foremost competitors in the spectral computed tomography market globally are Thermo Fisher Scientific (US), Agilent Technologies (US), Neusoft Medical Systems (Russia), Trivitron Healthcare (US), Koninklijke Philips N.V. (Netherlands), General Electric Company (US), Bio-Rad Laboratories, Inc. (US), iCAD Inc. (US), Xoran Technologies, LLC (US), Varian Medical Systems, Inc. (US), Siemens Healthcare Private Limited (Germany), PerkinElmer Inc. (US), Pall Corporation (US), Hitachi Medical Corporation (Japan), Cleaver Scientific Ltd (UK), NeuroLogica Corp (US), Shenzhen Anke High-tech Co., Ltd. (China) and Shimadzu Corporation (Japan).
Spectral Computed Tomography Market Segmental Analysis
The segmentation of the spectral computed tomography market is conducted on the basis of applications, types, and end users. Based on types, the spectral computed tomography market is segmented into electron beam tomography, spiral CT, positron emission tomography (PET), multi-slice computed tomography, single-photon emission computed tomography, among others. The segmentation of the spectral computed tomography market based on applications comprises of cardiology, oncology, neurology, spine, body imaging, musculoskeletal disorders, and gastrointestinal diseases. By end users, the spectral computed tomography market is segmented into hospitals, diagnostic centers, and others. By regions, the spectral computed tomography market is segmented into Africa, Europe, Asia Pacific, North America, and the Middle East.
Spectral Computed Tomography Market Detailed Regional Analysis
The evaluation of the regions in the spectral computed tomography market comprises of Africa, Europe, Asia Pacific, North America, and the Middle East. As per the analysis, the Americas region is expected to maintain its lead in the spectral computed tomography market due to the incidence of vast patients enduring cancer, cardiovascular diseases, and orthopedic diseases. Moreover, the intensifying geriatric population and sophisticated healthcare sector have added to the evolution of the spectral computed tomography market. The European region is responsible for the next principal market, which is tailed by the Asia Pacific region. The Asia Pacific region is a swiftly increasing market due to the incidence of evolving countries like China and India. The existence of a vast population base and prospects are boosting the progress of the market. The Middle East and African region control the least share in the market.