Market Overview
The Computed Tomography Market is expected to grow at a CAGR of 7.2% during the forecast period 2022-2029.
Computed tomography is a automated x-ray imaging procedure wherein it creates unique pictures of internal organs, bones, gentle tissue, and blood vessels. In this system, move-sectional images are generated at some point of computed tomography scans. Computer tomography scanning is the excellent technique for detecting many specific styles of cancers and the snap shots permit doctors to become aware of the presence of the tumor and determine its place and length.
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Market Dynamics
The growing geriatric population and increasing incidences of continual sicknesses will power the market growth
The growing geriatric population, increasing persistent diseases, shifting medical care toward photo-guided interventions, and technological advancements are using the boom of the marketplace. As in keeping with the statistics published through the American College of Chest Physicians in July 2020, lung cancer is one of the most regularly diagnosed cancers. It debts for eleven.6% of the whole most cancers cases globally. Worldwide lung cancer incidents are predicted to increase with the aid of 38%, to 2.89 million, by means of 2030.
According to the International Osteoporosis Foundation 2019, one in three ladies and one in 5 guys elderly 50 years and above maintain osteoporosis-associated fractures. Approximately two hundred million human beings are affected by osteoporosis worldwide, resulting in a fracture each three seconds. A CT experiment affords 3-D photographs of bones and allows in higher diagnosis and surgical procedures for orthopedics. Thus, with the growing burden of orthopedic disorders, the demand for CT scanners is also anticipated to grow.
Many collaborations, partnerships, and agreements are also taking vicinity in the marketplace. For example, in December 2020, JSCN Medical Clinic LP and Siemens Healthineers Canada collaborated to open a diagnostic imaging middle in Canada. The middle will be prepared with magnetic resonance imaging (MRI), computer tomography, X-rays, and ultrasound. Such initiatives via various companies are predicted to influence the marketplace’s increase.
Market Segmentation:
By Body Part
- Slice Detector
- High Slice System
- Mid Slice System
- Low Slice System
By Application
- Oncology
- Neurology
- Cardiovascular
- Musculoskeletal
- Other
By Device Part
- Slice Detector
- High Slice System
- Mid Slice System
- Low Slice System
By End User
- Hospital
- Diagnostic Centers
- Other
Competitive Landscape
The computed tomography market is highly competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Canon Medical Systems Corporation, Fujifilm Holdings Corporation, GE Healthcare, Shimadzu Corporation, Koning Corporation, Koninklijke Philips NV, Neusoft Medical Systems Co. Ltd, CareStream Health, Planmeca Group (Planmed OY), Stryker Corporation among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the computed tomography market globally. For instance, in 2017, Toshiba signed a three-year pricing agreement with Varex Imaging Corporation in order to supply CT tubes for integration into Toshiba’s CT systems.
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