Computed Tomography Imaging Market To Reach USD 9.13 Billion By 2027 – Reports and Data
Increasing occurrences of chronic diseases is one of the significant factors influencing market growth.
The global computed tomography imaging market is expected to reach USD 9.13 Billion by 2027, according to a new report by Reports and Data. Rise in the geriatric population is one of the significant factors influencing market growth. It has been estimated that by 2050 approximately 16% of the global population will be aged more than 65 years, which is expected to increase fivefold since 1950. Forecasts from the World Health Organization (WHO), United Nations (UN), and the EU commission all indicate aging as a significant challenge for society, which demands concentrated efforts to meet the requirements of the elderly. Heart disease, cancer, and stroke have been the primary chronic conditions that have had the highest impact on the geriatric population, particularly in high-income countries. Thus, the increasing prevalence of diseases in the growing geriatric population is likely to propel the growth of the market in the forecast period.
Increasing awareness to diagnose disease at an early stage is likely to boost the market demand. Detection of diseases such as cancer at an early stage significantly increases the chances for survival. Creating awareness to encourage early diagnosis and screening are the crucial steps responsible for early detection diseases, including cardiovascular and musculoskeletal, among others. Identifying likely warning symptoms of diseases and taking rapid measures is necessary for early diagnosis. Greater awareness of probable symptoms of diseases amongst physicians, nurses, and other healthcare providers, in addition to the general public, would positively impact the recovery rate and hence would be instrumental in increasing the market demand.
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Further key findings from the report suggest
- By technology, high-end slice technology contributed to the largest market share in 2018. High-end slice technology such as 256 or 320 slice systems provide superior image quality and results in better diagnoses.
- By application, oncology dominated the market in 2018 and is likely to grow at a rate of 5.4% in the forecast period. Cancer is the second foremost cause of death worldwide and accounts for an estimated 9.6 million deaths in 2018. Detection of cancer at an early stage significantly increases the chances for survival. Creating awareness to encourage early diagnosis and screening are the crucial steps responsible for early detection of cancer.
- By end-user, ambulatory imaging centers are expected to witness the fastest growth rate of 6.5% in the period 2019-2027.
- North America contributed to the largest market share in 2018 and is likely to have a CAGR of 5.3% in the period 2019-2027. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare facilities, and the presence of leading market players in the region.
- Key participants include Canon Medical Systems, GE Healthcare, Koning Corporation, Fujifilm Holdings Corporation, Neusoft Medical Systems Corporation Limited, Siemens Healthineers, Hitachi Healthcare Systems, Neurologica Corporation, Shenzhen Anke High-Tech Co., and Koninklijke Philips NV, among others.
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For the purpose of this report, Reports and Data have segmented the global computed tomography imaging market on the basis of technology, application, end-users, and region:
Technology Outlook (Revenue, USD Million; 2016-2027)
- Low-End Slice Technology
- Mid-End Slice Technology
- High-End Slice Technology
Application Outlook (Revenue, USD Million; 2016-2027)
End-Users Outlook (Revenue, USD Million; 2016-2027)
- Contract Research Organizations
- Ambulatory Imaging Centers
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Regional Outlook (Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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