The global computed tomography market was valued at $4,894.3 million in 2015, and it is expected to grow at a CAGR of 5.0% during 2016-2022. Based on slice type, the high slice type segment is expected to witness the faster growth, CAGR of 5.3%, during the forecast period.
The global CT market is growing at a significant rate, due to increasing healthcare expenditure, and growing geriatric population. The increasing prevalence of chronic diseases and improving healthcare infrastructure in developing countries are also driving the growth of the global computed tomography market. However, the factors such as stringent regulatory requirements for the approval of CT devices, and side effects of ionization radiation are inhibiting the growth of the global market.
Computed tomography (CT) is an imaging procedure, which uses special x-ray equipment to provide detailed images of internal organs, blood vessels, soft tissues and bones. It is also known as CAT scanning (computerized axial tomography). It provides cross-sectional images in multiple planes. It helps in diagnosis of cancer, circulatory conditions and disorders (coronary artery disease, blood clots, and blood vessel aneurysms), kidney and bladder stone, spinal conditions, inflammatory diseases (ulcerative colitis and sinusitis), and injuries to head, skeletal system and internal organs.
Geographically, North America dominated the global market of CT in 2015; whereas the Asia-Pacific market is expected to witness the fastest growth, at a CAGR of 5.8%, during the forecast period.
Some of the key companies operating in the global CT market include Hitachi Ltd., Siemens AG, Toshiba Corporation, Samsung, General Electric Company, and Koninklijke Philips N.V.
News Courtesy: P&S Market Research