CT Scanners Market is estimated to be at US$6,429.8 million by 2022 – TMR

12/12/2018, 3:00 PM (Source: GlobeNewswire)

Albany, New York, Dec. 12, 2018 (GLOBE NEWSWIRE) -- In terms of revenue, the global CT scanners market is estimated to be at US$6,429.8 mn by 2022, considerably up from its evaluated worth of US$4,834.1 mn by 2017. The growth of the global CT scanners market is projected to increase at a CAGR of 5.9% during the forecast period of 2017 to 2022. This growth is attributable to gaining traction from a number of factors such as increasing preference of the patients for minimally invasive diagnostic procedures, recent product improvements including the advent of portable CT scanners, improve healthcare infrastructure in various emerging economies, and rising geriatric population.

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The healthcare industry has witnessing prosperous and substantially dependent on product innovation. Growth factor of CT scanners market is similar to the healthcare industry, which consist incredible potential for development and revenue generation for key players globally, especially for those vendors who can stay in-sync with the latest technologies. These advancement are driving growth of the global CT scanners market.

CT scan is a mature imaging technique that has witnessed substantial modifications and improvements over the past few years. Technological advancements have reduced the dose of radiation without hampering the quality of image. Such technological advancements coupled with the procedural benefits of CT scan over other imaging modalities such as MRI and X-ray are boosting adoption of CT scanners across numerous applications, which in turn is driving growth of the global CT scanners market.

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Increasing prevalence of chronic diseases globally is expected to serve to be a highly impacting factor for CT scanners market growth. Chronic diseases such as cardiovascular diseases and cancer are difficult to manage and causes significant cost burden on healthcare sector. Key to better management of these diseases is accurate diagnosis of conditions in early stages. As CT scanner allows the early and accurate diagnosis of several chronic diseases, its demand is forecasted to increase with the rising prevalence of chronic diseases.

CT scanner is a cost intensive capital equipment and its high cost is forecasted to hamper affordability, particularly in developing and underdeveloped region. Moreover, refurbished and used CT equipment are available at significant low cost compared to brand new equipment. Availability of such equipment will restrain industry growth to some extent.

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Most of the key companies operating in the global CT scanners market are concentrating on development of portable products and expanding their geographical presence to strengthen their position in the global market. For instance, THE Jerudong Park Medical Centre (JPMC) has grabbed another landmark with introducing the latest Computed Tomography (CT) scanner which offers increased efficiency and clinical flexibility. It is one of the major developmental achievements for the company, the state-of-the-art machine with some of the latest technology and functions and capability of producing images of human body from X-ray test and computer. These new launches are expected to drive growth of the market due to increase in efficiency. 

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GE Healthcare, Medtronic PLC, Koninklijke Philips N.V., Siemens AG, Carestream Health, Inc., Hitachi Ltd, Accuray Incorporated, Koning Corporation, Neusoft Corporation, Samsung Electronics Co., Ltd., Planmed Oy, Toshiba Corporation, Shenzhen Anke High-Tech Co., Ltd., and Shimadzu Corporation are some of the key companies currently operating in the global CT scanners market. These companies are increasingly investing on the development of machines which is key factor boosting adoption of machines.

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