CT Scanner Market will retain moderate CAGR of 5% to overtake 7 billion by 2024
SELLBYVILLE, Del., August 7, 2018 /PRNewswire-iReach/ -- CT Scanner Market outlook is poised beat USD 7 billion by 2024; as per a new research report by Global Market Insights, Inc. Rising prevalence of chronic diseases including cancer and cardiovascular conditions coupled with growing awareness about early disease diagnosis and treatment will drive CT scanner market over the forecast timeframe.
Technological advancements including development of portable scanner, high slice technology and other additional features will escalate adoption rate of the device. Growing geriatric population base, susceptible to suffer from chronic ailments will act as high impact rendering factor for industry growth.
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Rising demand for minimal invasive diagnostic tools coupled with wide ranging clinical applications of CT scanner from disease screening to studying disease progression will propel industry growth. However, presence of refurbished units, prohibitive cost of the device and risk associated with radiation exposure will hinder industry growth over the forecast period.
O-arm segment dominated CT scanner market in 2016 and is estimated to grow considerably over the forecast period. Increasing number of spinal surgeries coupled with technological advancements in the device will drive segment growth. The device is used during spinal instrument placement including visceral, vascular, and neurological injuries will propel segment growth.
Stationary CT scanner held largest market share in 2016 owing to high adoption rate in large hospitals requiring maximum number of CT scans, rising incidences of chronic disorders and increasing number of surgeries. Portable segment will be driven by growing adoption, technological advancement and convenience offered by the device.
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Cone beam computed tomography (CBCT) is anticipated to witness significant growth over the forecast period due to rising incidences of dental ailments, rapid scan time offered by the device and reduced risk involved in usage of this type of imaging modality. Growing demand for cosmetic dentistry will further accelerate business growth.
Growing adoption of pet and rising disposable income leading to increasing spending on pet care will drive veterinary CT scanner segment growth over the forecast timeframe. Equipment allows veterinarians to diagnose cardiovascular disease, trauma, appendicitis, cancer, infectious disease, and musculoskeletal disorders will stimulate demand for veterinary CT scanning device over the coming years.
Contract research organizations (CROs) segment will witness lucrative growth owing to rising demand for imaging CRO services coupled with multifactorial benefits offered by CT scanner in early as well as later stages of clinical trials. CT scan can detect minute changes indicative of therapy progression, that can be missed out by other conventional method will further stimulate demand.
U.S. CT scanner market will by driven by rising incidences of chronic conditions such as cancer, favorable regulatory framework coupled with technological advancements in the device. Growing demand for minimal invasive diagnostic method along with rising awareness about early disease diagnosis and treatment will favor industry growth.
Rising number of baby boomers coupled with healthcare infrastructure development will drive China CT scanner market. Increasing number of people suffering from chronic conditions and considerable investment towards developing superior CT scanning technology will propel business growth in the country.
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Few notable industry players operating in CT Scanner market include Canon Medical Systems Corporation (Toshiba Corporation), Koning Corporation, GE Healthcare, Accuray, Carestream, CurveBeam, Hitachi Medical Corporation, Koninklijke Philips, Medtronic, Neusoft, Planmed Oy, Samsung, Siemens Healthineers, Shenzhen Anke High-Tech, United Imaging, and Xoran Technologies. Industry players are focusing on developing advanced CT scanner delivering superior imaging quality at low cost to consolidate significant market share as well as strengthen their product portfolio.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, sales@gminsights.com
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SOURCE Global Market Insights, Inc.
