Computed Tomography (CT) Market - Global Growth, Trends, and Forecast to 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 22, 2019--The “Computed Tomography (CT) Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The major factors for the growth of the global computed tomography (CT) market include the rising geriatric population and increase in incidences of chronic diseases, increase in the shift of medical care toward image-guided interventions, and technological advancements.
The burden of chronic diseases is on the rise across the world, and medical imaging procedures play a crucial role in the accurate diagnosis of these diseases. Chronic diseases, such as heart disease, stroke, cancer, diabetes, obesity, and arthritis, are among the most common, expensive, and preventable of all health problems. According to the estimates of World Health Organization (WHO), non-communicable diseases (NCDs) account for 63% of all deaths (36 million out of 57 million global deaths) and 80% of the deaths occur in low- and middle-income countries. Cancer, cardiovascular diseases, diabetes, chronic kidney diseases, and respiratory diseases were the primary causes of death.
The global cancer burden is expected to increase by 70% in the next two decades. Tobacco use, physical inactivity, alcohol consumption, and unhealthy diets create a risk of death from the aforementioned non-communicable disease. To prevent the impact of chronic diseases on individuals and society, research is being carried out for the early detection of such disorders. The access to technology and relative cost of CT procedures, as compared to other modalities, make it a preferred choice of imaging. CT scan is being increasingly used to diagnose these diseases, which is also increasing its demand.
Scope of the Report
As per the scope of the report, computed tomography (CT) is an imaging process that customizes special X-ray equipment to generate a sequence of exhaustive images, or scans, of areas inside the body. Also called computerized axial tomography (CAT) scanning, it is primarily used in cancer diagnosis. The market is segmented by type, application, end user, and geography.
Key Market Trends
Oncology Segment by Application is Expected to Account for Largest Market Share during the Forecast Period
Oncology deals with the diagnosis and treatment of tumors and cancers, while cancer is one the leading causes of morbidity and mortality. Among both sexes, lung, breast, and colorectal cancers are among the most common cancers in the world, with lung cancer alone contributing to more than 13% of the total cases diagnosed.
The global cancer burden is increasing, and thus, there is a rise in the usage of imaging modalities for the diagnosis of the diseases. According to the World Cancer Research Fund, in 2018, there were an estimated 18 million cancer cases around the world, out of which, 9.5 million cases were in men and 8.5 million in women. Lung and breast cancers were the most common, globally, and contributed to 12.3% of the total number of new cases that were diagnosed in 2018. Colorectal cancer was the third-most common cancer, with a prevalence of 1.8 million new cases in 2018, according to the World Cancer Research Fund. The increasing cancer burden is due to a number of factors, including population growth and aging, and the changing prevalence of certain causes of cancer is linked to social and economic development. Cancer is also associated with lifestyles. As CT scans are relatively less expensive, as compared to other imaging modalities, hence the segment is expected to witness a healthy CAGR over the forecast period.
North America Accounted for the Largest Share in the Global Market
North America is found to hold a significant share in the computed tomography (CT) market, and it is expected to show a similar trend over the forecast period, without substantial fluctuations. The market growth in the United States can be attributed to the rising geriatric population. As the population ages, more cancer and chronic diseases are likely to be identified. With the increasing image-guided radiotherapy (IGRT) for image guidance, the CT market is forecast to grow at a steady pace.
Also, patients seek more precision in the ability to target and treat cancers, which is aiding the market growth in the United States.In the United States, hospitals are fronting increased patient flow per CT scanner. The utilization per CT scanner at services that are not affiliated with hospitals is decreasing; about 20% more in hospitals when compared to other services. Also, recent advancements have also increased the use of CT scans in various diseases. In November 2016, Toshiba (Canon Medical Systems Corporation) introduced its first system that improves image quality with significant noise reduction, while reducing radiation dosage.
The global computed tomography (CT) market is a consolidated market, owing to the presence of a few major players in the market. The major market players, such as Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers, hold a significant market share in the industry. Most of the market players are focusing on bringing technologically advanced products in the market to acquire the maximum market share.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Geriatric Population and Increase in Incidences of Chronic Diseases
4.2.2 Increase in Shift of Medical Care Toward Image-guided Interventions
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Lack of Adequate Reimbursement
4.3.2 Stringent Regulatory Framework
4.4 Porter’s Five Forces Analysis
5 Market Segmentation
5.1 By Type
5.1.1 Low Slice
5.1.2 Medium Slice
5.1.3 High Slice
5.2 By Application
5.2.5 Other Applications
5.3 By End User
5.3.3 Diagnostic Services
5.3.4 Other End Users
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 Fujifilm Holdings Corporation
6.1.3 GE Healthcare
6.1.4 Hitachi Healthcare Systems
6.1.5 Koning Corporation
6.1.6 Koninklijke Philips NV
6.1.7 NeuroLogica Corporation
6.1.8 Neusoft Medical Systems Co. Ltd
6.1.9 Shenzhen Anke High-Tech Co.
6.1.10 Siemens Healthineers
7 Market Opportunities and Future Trends
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Related Topics:Computed Tomography
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES
SOURCE: Research and Markets
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PUB: 03/22/2019 08:48 AM/DISC: 03/22/2019 08:48 AM