PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454101
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454101
Spectral computed tomography Market size was valued at USD 7,058 Million in 2023, expanding at a CAGR of 6.7% from 2024 to 2032.
Spectral computed tomography (CT) is an advanced imaging technique that merges traditional CT scanning principles with spectral analysis. This innovative method utilizes energy-dependent data from CT images, leading to the development of unique CT systems. An exemplary model of this technology is the Spectral CT 7500, which features "always on" spectral imaging, delivering both traditional and 100% spectral outcomes in each scan. The continuous availability of spectral-detector CT allows radiologists to confidently conduct routine spectral imaging without increasing radiation exposure. Computed tomography reconstructs the internal structure of objects from a series of X-ray transmission images. Furthermore, the integration of Photon-counting CT shows promising potential in improving image quality, reducing radiation exposure, and enabling new applications in medical imaging.
Spectral computed tomography Market- Market Dynamics
Rising prevalence of cancer, cardiovascular diseases, and increasing geriatric population with numerous diseases drives the spectral computed tomography market growth
Cancer and cardiovascular diseases are the primary reasons for illness and death on a global scale. The prevalence of these diseases is on the rise due to various factors such as aging populations, changes in lifestyle, and environmental influences. Consequently, there is an increasing need for advanced imaging technologies like spectral CT. According to the World Health Organization, cardiovascular diseases (CVDs) are responsible for the highest number of deaths worldwide, claiming approximately 17.9 million lives annually. Similarly, cancer is a major cause of death globally, with nearly 10 million deaths recorded in 2020, accounting for approximately one in six deaths. The aging global population contributes to a higher occurrence of age-related diseases and conditions. Moreover, advanced imaging technologies and expanding clinical applications may provide growth opportunity for the market. However, the complexity of data interpretation may hinder the market's growth.
Spectral computed tomography Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.7% over the forecast period (2024-2032)
Based on Product Type segmentation, Electron beam tomography was predicted to show maximum market share in the year 2023
Based on Application segmentation, Oncology was the leading Product Type in 2023
Based on end user segmentation, Hospital was the leading Product Type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Spectral computed tomography Market is segmented on the basis of Product Type, Type, Technology, Application, End User, and Region.
The market is segmented into five categories according to Product Type: Spiral CT, Electron beam tomography, Multi-slice computed tomography, Positron Emission Tomography (Pet), and Single-Photon Emission Computed Tomography. The Electron beam tomography segment leads the market, mainly utilized for coronary artery calcium scoring to evaluate the risk of heart disease through measuring calcium deposits in the coronary arteries.
The market is segmented into three categories according to Type: Cardiac Imaging, Neural Imaging, Clinical Imaging, and Other. By categorizing the spectral CT market according to these criteria, a thorough comprehension of the various applications and clinical specialties in which spectral CT technology is employed can be achieved.
The market is segmented into two categories according to Technology: Dual-layer detector and Gemstone spectral imaging detector. This division enables a concentrated examination of the technological progressions that fuel innovation and set apart the electron beam tomography market. Each technology offers distinct benefits and uses, meeting specific clinical requirements and preferences.
The market is segmented into four categories according to application: Oncology, Cardiology, Musculoskeletal Disorders, and Diseases. Oncology holds the largest share in the market. Although electron beam tomography is commonly linked with cardiac imaging and coronary artery calcium scoring, its use in oncology is growing, providing possible advantages in the treatment of cancer patients.
The market is divided into five categories based on application: Hospital, Private clinics, Diagnostic and imaging centers, Academic institutes and research centers and others. Hospital dominates the market. Hospitals often engage in clinical research and innovation initiatives involving EBT technology. Exploration studies conducted within hospital settings explore new applications of EBT, evaluate its efficacy in different clinical scenarios, and contribute to advancements in imaging techniques and patient care protocols.
Spectral computed tomography Market- Geographical Insights
The market is geographically spread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. North America is expected to lead the market growth, driven by the growing investment in healthcare IT and advancements in diagnostics. The United States, in particular, boasts a well-established healthcare IT infrastructure supported by substantial investments in digital health technologies. The U.S. healthcare industry ranks as the third-largest in the nation, with healthcare spending accounting for 19.7% of the economy in 2020. According to Healthcare Industry Statistics, the sector generated USD1.27 trillion in revenue that year alone. Continuous technological advancements in imaging techniques and equipment further benefit the diagnostics sector in North America. Europe follows as the second-largest region for market growth, attributed to the rising healthcare expenditure.
The spectral computed tomography (CT) market is characterized by intense competition among various players, including medical device manufacturers, technology developers, and healthcare providers. In addition to established medical device manufacturers, there are technology developers and startups focusing on advancing spectral CT technology. These companies may specialize in developing specific components or software solutions tailored for spectral CT scanners. They contribute to innovation within the market by introducing novel imaging techniques, reconstruction algorithms, and image analysis software aimed at enhancing the clinical utility of spectral CT. Companies invest in regulatory compliance to ensure the safety, efficacy, and quality of their spectral CT products and demonstrate adherence to regulatory requirements in different global markets.
In May 2021, Royal Philips, a prominent player in health technology worldwide, has unveiled its latest offering for accurate diagnosis by launching the Spectral Computed Tomography (CT) 7500, which is based on spectral detector technology.
GLOBAL SPECTRAL COMPUTED TOMOGRAPHY MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Fisher Scientific
Agilent Technologies
Koninklijke Philips
Neusoft Medical Systems
General Electric
Pall
Hitachi medical
Xoran Technologies
Varian Medical Systems
Trivitron Healthcare
Siemens Healthcare Private
PerkinElmer
Bio-Rad Laboratories
Cleaver Scientific
NeuroLogica
Others