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Computed Tomography Market Size, Growth, Trends, Share and Analysis

aanikhil | August 20, 2019 | 0 | Pharmaceutical and Healthcare

Computed Tomography market

Market Overview:

The significant considerations for the development of the worldwide computed tomography CT industry include the increasing geriatric population and an increase in chronic disease incidences, an increase in the transition of medical care to image-guided procedures, and technological advances. Chronic disease burden is on the increase worldwide, and methods for medical imaging play a vital part in the precise diagnosis of these illnesses. Chronic diseases such as heart disease, stroke, cancer, diabetes, obesity, and arthritis are among all the most prevalent, costly, and preventable health issues. World Health Organization WHO estimates that non-communicable diseases NCDs account for 63% of all fatalities 36 million out of 57 million fatalities worldwide and 80% of fatalities happen in low-and middle-income nations. The main causes of death were cancer, cardiovascular disease, diabetes, chronic kidney disease, and respiratory disease.

Over the next two decades, the worldwide cancer burden is anticipated to rise by 70%. Tobacco use, physical inactivity, consumption of alcohol, and unhealthy diets generate a danger of death from the above-mentioned non-communicable disease. Research is being carried out for the early identification of such illnesses to avoid the effect of chronic diseases on people and society. Compared to other modalities, access to technology and comparative cost of CT processes make it a preferred choice of imagery. The use of CT scans to diagnose these diseases is growing, which is also increasing its demand.

Scope of the report:

According to the scope of the report, computed tomography CT is an imaging process that customizes special X-ray equipment to generate a sequence of comprehensive images, or scans, of body areas. Also known as CAT scanning, it is used mainly to diagnose cancer. Segmentation of the market is based on type, application, end-user and geography.

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Key market trends:

Oncology segment by application is expected to account for largest market share during the forecast period:

Oncology is concerned with tumor and cancer diagnosis and therapy, while cancer is one of the major causes of morbidity and mortality. Lung, breast, and colorectal cancers are among the worlds most prevalent cancers, with lung cancer alone contributing to more than 13 percent of the total diagnosed instances. The worldwide burden of cancer is growing and the use of imaging modalities for the diagnosis of illnesses is thus increasing. According to the World Cancer Research Fund, there were an estimated 18 million instances of cancer worldwide in 2018, out of which there were 9.5 million in males and 8.5 million in females. Lung and breast cancers were the most common worldwide and accounted for 12.3 percent of the total number of new cases diagnosed in 2018.

According to the World Cancer Research Fund, colorectal cancer was the third most prevalent cancer, with a incidence of 1.8 million fresh instances in 2018. A number of factors, including population growth and aging, are responsible for the increasing cancer burden, and the changing prevalence of certain cancer causes is linked to social and economic development. Lifestyles are also connected with cancer. As CT scans are comparatively cheaper than other imaging modalities, it is anticipated that the section will experience a good CAGR over the forecast period.

North America is estimated to hold largest share in the market:

It is discovered that North America holds a significant share of the market for computed tomography CT and is anticipated to demonstrate a comparable trend over the forecast period, without important changes. The increasing geriatric population can be ascribed to market growth in the United States. More cancer and chronic diseases are probable to be recognized as the population grows older. With the growing image-guided radiotherapy IGRT for image guidance, it is predicted that the CT industry will expand steadily. Patients are also looking for more accuracy in the capacity to target and treat cancers, which helps the development of the US industry. Hospitals are facing enhanced patient flow per CT scanner in the United States. Use per CT scanner for non-hospital associated facilities is declining; about 20 percent higher in hospitals compared to other facilities. Recent progress has also improved the use of CT scans in different diseases. Toshiba Canon Medical Systems Corporation launched its first scheme in November 2016, which improves image quality with a significant reduction in noise while reducing radiation dosage.

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Competitive Landscape:

Because of the existence of a few significant players on the market, the worldwide computed tomography CT market is a consolidated market. Major players in the market, such as Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers, have important market share in the sector. Most market players focus on introducing technologically sophisticated products to the market in order to obtain the highest market share.

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