Worldwide Spectral Computed Tomography Market Outlook | Top Key Players Profile | Forecast to 2027

The spectral computed tomography (CT) market is growing mainly due to rising cases of chronic diseases. According to a recent study report published by the Market Research Future, the spectral computed tomography (CT) market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2027).

Computed tomography (CT) has a prominent place in the medical imaging. Medical imaging is the process of making visual representation of the interior of the body for the diagnosis. It has ability to create pictures of internal anatomy and convert them to film through diagnostic imaging, which has changed the diagnostic and treatment of many diseases.

Notably, increasing prevalence of the cardiac diseases, cancer, neurological diseases, orthopedic diseases and many others is the major driving factor for the growth of the global spectral CT market. According to a study published in Drug and Alcohol Dependence journal in 2017, more than 100 million adult Americans are living with chronic pain. Chronic low back pain and headaches are the most commonly diagnosed conditions. It is also stated that conditions are more prevalent in women than men i.e. 34.3% in women, and 26.7% in men in the United States.

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General Electric, Hitachi medical corporation, NeuroLogica Corp., Neusoft Medical Systems, Koninklijke Philips N.V., Siemens Healthcare GmbH, Shenzhen Anke High-tech Co., Ltd are some of the prominent players at the forefront of competition in the Spectral Computed Tomography (CT) market and are profiled in MRFR Analysis.

Other push factors such as, growing public awareness, rising technological advancements, increasing adoption, rising healthcare expenditure, changing reimbursement policies, and growing geriatric population are also fuelling the growth of the market. Centers for Disease Control and Prevention (CDC) suggested that the Per capita national health expenditures in 2015 was amounted to be USD 9,990 and total national health expenditure was USD 3.2 trillion. It is also reported that out of total national health expenditures in the US, prescription drugs 10.1% share.

Despite these drivers, lack of skilled physicians, high cost associated with the device, are expected to hinder the growth of the spectral computed tomography (CT) market.

Spectral Computed Tomography (CT) Market - Competitive Analysis

The Spectral Computed Tomography (CT) market is currently dominated by various players. Due to rising prevalence of chronic diseases various existing and new marketers are continuously coming up with advanced technologies to control various chronic diseases. The Spectral Computed Tomography (CT) market is currently dominated by numerous players.

Koninklijke Philips N.V. is one of them by holding a strong share in the market. The company offers diagnostic imaging solutions, computed tomography, magnetic resonance imaging, and diagnostic X-ray. On Nov 14, 2016, Koninklijke Philips N.V. launched Philips IQon Spectral CT in Canada. The Philips IQon Spectral CT is the spectral detector CT which is designed specifically for spectral imaging. The product delivers on-demand colour quantification with an ability to characterize structures simply at a low dose.

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Siemens Healthcare GmbH is another renowned market player in Spectral Computed Tomography (CT) market. The company provides medical diagnostics solutions, healthcare equipment, and related services. Siemens offers products and solutions in the areas of hearing instruments, laboratory diagnostics, healthcare IT and infrastructure, refurbished systems, and education and training, medical accessories, electronics, and others.

Strategic partnership is an essential part of Siemen’s strategy to reach its goal of new products pipeline, by accruing partner’s technology, and products. For instance, On December 15, 2017, Siemens Healthineers has entered an agreement to acquire Luxembourg-based Fast Track Diagnostics (FTD). Through this acquisition, Siemens will now include FTD's sites in Luxembourg, India, and Malta along with its workforce of about 80 employees.

General Electric Company operates as an infrastructure and technology company worldwide. The product portfolio of company in Computed Tomography includes Revolution Frontier, Revolution EVO, Revolution CT, Revolution HD, Optima CT540, and others.

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