Market Highlights
The GlobalSpectral Computed Tomography Market is expected to register a CAGR of 5.8% during the forecast period with a market value of USD 969.6 Million till 2025. Spectral computed tomography (CT) also known as dual-energy CT (DECT) is an advanced form of computed tomography widely used in x-ray scanning technique. Spectral computed tomography is an advanced medical imaging device, which helps in the differentiation and characterization of tissues through the high quality of X-ray images. Spectral computed tomography (CT) contains two different energy spectra to provide concise images on the basis of material density.
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The major key factors driving the market growth are increasing spending on the healthcare IT sector, technological advancements in the diagnostics sector, and increasing demand for diagnostic devices for precise imaging enhances the market growth. Also, the growing prevalence of cardiovascular and neurological diseases across the globe increase the demand for spectral computed tomography (CT) devices. However, factors such as high cost compared to conventional CT scan machines, availability of alternatives CT scan devices, and the less awareness about the products among the radiologists may hamper the market growth.
Segment Analysis
The global spectral computed tomography market is segmented into application and end user. On the basis of application, the global spectral computed tomography market has been segmented into oncology, cardiology, musculoskeletal disorders, and gastrointestinal diseases. Based on end user, the market has been segmented into diagnostic centers and hospitals & clinics.
Regional Analysis
The global spectral computed tomography market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Asia-Pacific is expected to hold the largest share of the global spectral computed tomography market. This is owing to the increasing patient population suffering from cancer and cardiovascular diseases and growing geriatric population suffering from numerous diseases are boosting the market growth in this region.
The Americas market holds the second-largest position in the global spectral computed tomography market owing to the increasing healthcare expenditure, and the presence of large number of medical devices companies in this region.
Europe is the third-largest region in the global spectral CT market. Factors such as growth in the medical device industry, the presence of developed economies, high per capita disposable income, and increased healthcare spending by consumers are driving the growth of the market in this region.
The spectral computed tomography market in the Middle East & Africa accounts the least market share due to the adequate healthcare infrastructure support accounted for a relatively smaller market share in 2018.
Market Players
MRFR recognizes the following companies as the key players in the global spectral computed tomography market— General Electric Company (US), Koninklijke Philips N.V. (Amsterdam, Netherlands), MARS Bioimaging Ltd (Christchurch, New Zealand), Neusoft Corporation (China), Shenzhen Anke High-tech Co., Ltd (China), Siemens (UK), and PerkinElmer Inc. (Waltham, Massachusetts).
Key Findings of the Study
- The Global Spectral Computed Tomography Market was valued at USD 655.89 million in 2018, is estimated to grow at USD 969.6 million by 2025 at a CAGR of 5.8% during the assessment period
- Asia-Pacific accounted for the largest share of the global market due to the presence of key market players and an increasing patient population in Japan, China, and India.
- Based on application, the oncology segment accounted for the largest market share in 2018
- On the basis of the end user, the diagnostic centers dominated the market and accounted for a share of 3 million in 2018
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