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Computed Tomography Imaging Market Key Players Market Size Growth Drivers As Well As Industry Challenges Opportunities To 2027

03.02.2021 · Posted in Writing and Speaking

Computed Tomography Imaging Market Report 2027

The rising prevalence of chronic disorders coupled with the geriatric population is an essential factor influencing the market for computed tomography imaging. 

Market Size: USD 5.81 billion in 2019, Market Growth: CAGR of 5.7%, Market Trends: Increasing cognizance of early diagnosis of the disease.  

The global market for computed tomography imaging is estimated to rise to USD 9.13 billion by 2027 from USD 5.81 billion in 2019, with a steady CAGR of 5.7%. The rising prevalence of chronic disorders coupled with the geriatric population is an essential factor influencing the computed tomography imaging market. It has been reported that around 16% of the world’s population will be over 65 years of age by 2050 which is predicted to rise fivefold since 1950. World Health organization, EU, and United Nation, refer to aging as a major challenge for the society that demands concentrated efforts to address the needs of the elderly. The main chronic conditions that have the highest impact on the geriatric population are cancer, ******, and heart diseases. Thus, the rising prevalence of diseases in the increasing geriatric population is responsible for the computed tomography imaging market expansion. 

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The rising awareness for early diagnosis of the disease is a key factor increasing the market demand for computed tomography imaging. Detection of diseases like cancer in the early stage increases the probability of survival. Building awareness for encouraging early diagnosis and screening is expected to propel the market demand for computed tomography imaging. Additionally, the rising awareness regarding the probable symptoms among nurses, physicians, and healthcare professionals would stimulate the market demand. 

High costs associated with CT imaging systems might hamper the market growth in the coming years. 

Further key findings:

  • In context to technology, the high-end slice sub-segment accounted for the largest share of the global computed tomography imaging market in 2019. High-end slice technology like 256 or 320 slice systems offer high-quality imaging and better diagnosis.
  • The mid-slice technology is suspected to witness a CAGR of 5.9% during the projected period.  
  • Based on application, the oncology sub-segment led the market in 2019 and is calculated to increase with a CAGR of 5.4% during the analysis period. Cancer is the second most global cause of death and around 9.6 million people lost their lives in 2018. 
  • The musculoskeletal systems sub-segment is projected to increase with a CAGR of 7.4% from 2020 to 2027. The Global Burden of Disease study stated that musculoskeletal conditions contributed to global disability and lower back pain in 2017. 
  • Based on end-user, the ambulatory imaging center sub-segment is approximated to observe a sizable CAGR of 6.5% during the projected period. 
  • The hospital sub-segment led the computed tomography imaging market in 2019 and is predicted to grow at a substantial CAGR of 5.1%. Well-resourced operation and diagnostic rooms, high buying power, and the presence of highly trained professionals and better health coverage plans are surging the market share of hospitals. 
  • North America generated the largest market revenue in 2019 and is estimated to expand at a CAGR of 5.3% from 2020 to 2027. The high acceptance rate of advanced technologies, well-equipped healthcare facilities, and the existence of leading manufacturers are boosting the demand for the computed tomography imaging market. 
  • The market in the Asia Pacific region is expected to witness the fastest growth of 7% during the analysis period owing to the developed healthcare infrastructure, favorable reimbursement plans, and huge investments in diagnostic imaging. 
  • Europe is predicted to rise at a steady CAGR of 5.5% through the forecast period. 
  • Key participants include GE Healthcare, Neusoft Medical Systems Corporation Limited, Koning Corporation, Fujifilm Holdings Corporation, Siemens Healthineers, Neurologica Corporation, Hitachi Healthcare Systems, Shenzhen Anke High-Tech Co., Canon Medical Systems, and Koninklijke Philips NV.

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For the purpose of this report, Reports and Data has segmented the global computed tomography imaging market on the basis of technology, application, end-user, and region:

Technology Outlook (Revenue, USD Million; 2017-2027)

  • High-End Slice Technology
  • Mid-End Slice Technology
  • Low-End Slice Technology

Application Outlook (Revenue, USD Million; 2017-2027)

  • Musculoskeletal
  • Cardiovascular
  • Oncology
  • Neurology
  • Others

End-User Outlook (Revenue, USD Million; 2017-2027)

  • Contract Research Organizations
  • Ambulatory Imaging Centers
  • Hospitals

Regional Outlook (Revenue, USD Million; 2017-2027)

  • North America
    • U.S
  • Europe
    • U.K
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • MEA

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