The Global Spectral Computed Tomography Market is expected to register a CAGR of 5.8% to reach USD 969.6 Million till 2025.
Spectral computed tomography (CT) is also known as dual-energy CT (DECT). It is an advanced form of computed tomography widely used in x-ray scanning techniques. Spectral computed tomography is an advanced medical imaging device, which helps in the differentiation and characteristics of tissues through the high quality of X-ray images. Spectral computed tomography (CT) contains two separate energy spectra which provide a brief image based on material density. The key factors responsible for driving the market growth are rising prevalence of diseases such as cancer, neurological disorders, and cardiac diseases across the globe, increasing expenditure on the healthcare IT sector, and technological advancements in the diagnostics sector. However, the high cost of spectral emission tomography and availability of alternate imaging methods is forecast to restrain growth of the market. Rising technological advancements in diagnostic imaging devices are believed to grow the market in the coming years. Computed tomography, radiography, and fluoroscopy are different forms of medical imaging devices used in x-ray scanning by hospitals. Rising adaption of IT in medical devices to enhance the quality of the product is a significant step in the medical imaging industry. Medical image management is closely associated with diagnosis services and is an essential component of the healthcare IT sector.
The healthcare IT sector plays a major role in medical device industry by improving the effectiveness of products at every level of use. By secondary studies, it is found that healthcare IT spending has been grown rapidly in recent years, which is expected to lead the growth of the spectral CT market and its related services during the forecast period of 2019 to 2025. The rise in investment to improve and advance healthcare IT by global market leaders such as Siemens Healthcare, GE Healthcare, Koninklijke Philips N.V. shows the potential scope for the growth of the medical imaging industry. Growing acceptance and approval of the cloud technology in medical image devices provide easy storing and sharing of huge data. Also, increasing mergers and takeovers between healthcare and IT companies expedite market growth. Additionally, developed economies such as the US, UK, and Japan is contributing to boosting market growth by the adoption of cloud technology in medical imaging. The global spectral computed tomography market is divided into the application and end user. Based on application, the market has been segmented into oncology, cardiology, musculoskeletal disorders, and gastrointestinal diseases. Based on end user, the global spectral computed tomography market has been segmented into diagnostic centers, and hospitals & clinics.
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The proposed spectators in the Global Spectral Computed Tomography Market are huge corporates, SMEs, distributors and wholesalers, Investors and trade experts, Governments, associations and industrial bodies, etc. The major companies functioning in the Global Spectral Computed Tomography Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Spectral Computed Tomography Market are Medical device companies, Contract research manufacturing organizations, Research & development organizations and Academic institutes.
Koninklijke Philips N.V. (Amsterdam, Netherlands), New Zealand), Siemens (UK), and PerkinElmer Inc. (Waltham, Massachusetts), Shenzhen Anke High-tech Co., Ltd (China), Neusoft Corporation (China), MARS Bioimaging Ltd (Christchurch and General Electric Company (US) are some of the major players in the global spectral computed tomography market.
Innovation, product development, and acquisition & mergers are some of the key strategies followed by players operating in the global spectral computed tomography market. Some of the key achievements are In March 2019, Koninklijke Philips N.V. announced the expansion of its radiology solutions portfolio with teleradiology services. Teleradiology includes the interpretation of patients’ images from diagnostic imaging exams, such as X-ray exams, MR, and CT. This is in addition to the company’s organic innovation initiatives designed to broaden its radiology solutions portfolio. Philips entered into a 15-year strategic partnership with ZorgSaam Hospital based in the Netherlands. As per the agreement, Philips will provide ZorgSaam with a wide range of diagnostic imaging and image-guided therapy solutions, among others in March 2018.
Global Spectral Computed Tomography Market has been segmented by Application, by end user and by region. Based on application the global spectral computed tomography market has been segmented into Oncology, Cardiology, Musculoskeletal Disorders and Gastrointestinal Diseases. By End User the market has been segmented into Diagnostic Centres and Hospitals & Clinics. Geographically, the market has been segmented into Americas including North America (US & Canada) and Latin America, Europe including Western Europe (Germany, UK, France, Italy, Spain and Rest of Western Europe) and Eastern Europe. Asia-Pacific covering China, Japan, India, Australia, South Korea and Rest of Asia-Pacific, and Middle East & Africa
Regionally, the global spectral computed tomography market is structured into Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Asia-Pacific are expected to hold the biggest share of the global spectral computed tomography market. The growth of the Asia-Pacific is attributable owing to the growing prevalence of cancer, cardiovascular diseases, and an increase in the elderly population with numerous diseases. The National Institute of Cancer Prevention and Research calculates that 2.25 million people are living with cancer in the year 2019, and each year, around 11,57,294 lakh new patients who are suffering from cancer in this region. America is projected to account for the second-largest market share during the forecast period. Factors responsible for the market growth in this region are the presence of a large number of medical device companies, ever-increasing healthcare expenditure, and innovation for medical devices to improve the quality of life. The European region stood third-largest in the year 2017 in terms of market share. Factors such as growth in the medical device industry, the presence of the developed economies, high per capita disposable income, and increased healthcare spending by consumers are driving the growth of the market in this region. Also, ever-growing partnerships among healthcare companies are likely to drive the spectral computed tomography (CT) market. For instance, in March 2018, Koninklijke Philips NV entered into a 15-year strategic partnership with ZorgSaam Hospital based in the Netherlands. In the year 2018, the Middle East & Africa is expected to expose the very least that growth in the global spectral computed tomography market due to factors such as low per capita income, and lack of adequate healthcare infrastructure support accounted for a comparatively smaller market share.
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TABLE OF CONTENT
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Spectral Computed Tomography (CT) Market by, Application
7 Global Spectral Computed Tomography (CT) Market by, End User
8 Global Spectral Computed Tomography (CT) Market by, Region
9 Competitive Landscape
10 Company Profiles
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