USD 7.03 billion
Spectral Computed Tomography Market Size, Share, Growth Analysis, By Product(Spiral CT, Electron Beam Tomography, Multi-slice Computed Tomography, Positron Emission Tomography (Pet) and Single-photon Emission Computed Tomography), By Application(Oncology, Neurology, Cardiology, Vascular and Others), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35A2794 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
65
|Figures:
77
Spectral Computed Tomography Market Insights
Spectral Computed Tomography Market size was valued at USD 7.49 Billion in 2023 and is poised to grow from USD 7.98 Billion in 2024 to USD 13.2 Billion by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032).
Dual-energy computed tomography (DECT), sometimes called spectral CT, is an advance in the area of medical imaging that has been awaited for many years.
The technology is highly developed, and x-ray scanning has become a good source of information on anatomy. Moreover, among medical imaging equipment, presence in space humanizes the sentence. X-ray images produced by this spectrometer can be used to make very precise judgements regarding tissue composition and structure better than even computer axial tomography (CT) scanners at present.
Spectral computed tomography is used to combine two different bands of energy, and thus forms the basis for converting physical reality into concrete pictures based on material density.
One of the greatest advantages to this dual-energy method is that one can use high tech computer programs and get results far superior to those obtained from conventional single energy scanners, which rely on film. In fact, the biggest benefit of dual-energy CT is that it enables a more precise assessment of tissue characteristics than traditional CT scan while also yielding better imaging.
This technology employs two energy spectrums to better increase teeth of various tissues and thus facilitate more accurate diagnosis. This capability of seeing how materials react to different X-ray energies has led them into this higher level of precision.
In addition, the computer algorithms employed in dual-energy CT are key factors that significantly affect imaging quality and analysis. While single-energy CT scans are useful, they will not produce such precise results.
However, dual-energy CT algorithms can pick up extremely small differences in the composition of tissues and allow doctors to make appropriate images for use in planning treatment procedures and assisting with diagnosis. Spectral CT is a key development in medical imaging technology, and represents another powerful weapon for health practitioners.
This dual energy approach, combined with data extraction by powerful algorithms, does not just show high image quality X-rays but can even improve the accuracy and specificity of diagnostic information to help guide medical choices and achieve better patient outcomes.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
6.5% CAGR
Global Spectral Computed Tomography Market ($ Bn)
Country Share for North America Region (%)
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Spectral Computed Tomography Market Segmental Analysis
The global spectral computed tomography market is segmented on the basis of product, filament, application and region. By product, the segmented into spiral CT, electron beam tomography, multi-slice computed tomography, positron emission tomography (Pet) and single-photon emission computed tomography. By application, the market is segmented into oncology, neurology, cardiology, vascular and others. By end use, the market is segmented into hospitals, diagnostics imaging center and ambulatory imaging center and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Application
In terms of market share, oncology garnered more investment than other segments in 2021. with its lending a cumulative growth rate to take the lead with a CAGR over the foreseeable future. It is due to the increasing incidence of cancer and to growing uses in grouping together various kinds (lumps, tumors) for a CT scan. The development of new technologies such as computer-aided detections, and more sensitive diagnosis techniques that focus on suspicious cancer nodules or upon the risk of malignancy provide other major intellectual support for the segment's growth. These technologies help growth by matching captured images to results of biopsy, thereby aiding accurate diagnosis.
The neurology and musculoskeletal segments promise strong growth over the forecast period. Behind this trajectory there is a growth in elderly population. Age relates to the weight of age-related diseases, and people are getting older every day. Impaired mobility among the elderly can lead to falls and broken bones, especially hip fractures. Moreover, a recent global trend toward greater popularity of sports has resulted in an upsurge in sport injuries. Ligament tears are common problems requiring the use of CT scans for aggressive diagnosis. All of these factors should combine to spur overall market development in those segments.
Analysis By End Use
The hospital segment became the market dominant segment. Its sole purpose is to cater for people, therefore 2021 saw it take a stunning majority with 36.3 %. The reason for this domination has been linked to increasing numbers of emergency admissions in hospitals as well as growing amounts of surgery done annually that play an important part on the market. In addition, CT scanning represents an important function of hospitals for making correct preoperative and post-diagnoses to measure treatment efficacy.
On the other hand, ambulatory diagnostic centers stand ready to see rapid expansion over the projected time frame. To prevent smashing babies Hospitals have long been wary of transporting critically ill patients to third-party diagnostic centers for a CT scan. Getting them back from there again poses an even greater risk, creating very favorable conditions in the market and leading hospitals themselves to set up their own machines. Statistics from the OECD confirm that there were 16 CT scanners for every 1,000,00 persons in ambulatory diagnostic centers in the U.S., where a revolution is taking place which brings into play similar factors of economies and mass appeal to make its mark upon Taiwan's marketplace.
Global Spectral Computed Tomography Market By End Use
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Spectral Computed Tomography Market Regional Insights
In 2021 North America held a commanding position, accounting for 30.4 % of the market and with no one able to challenge over the forecast period. This was due to several factors, such as the concentration of market competitors in a relatively small area and an increase in cancer rates. According to the National Cancer Institute, 1,806,590 cancer sufferers were diagnosed in the U.S. alone during that same year (2020). Furthermore, the arrival of cutting-edge technology which incorporates elements from artificial intelligence as well as frequent launches for low radiation CT scans promise to spur even greater market growth.
Over the forecast period, a substantial CAGR would be achieved in all regions of Asia Pacific. The growth process is supported by the expanding healthcare environment, particularly in developing countries such as India and China. In addition, the high rate of penetration for advanced medical imaging equipment is also driving this expansion. Factors like the growing tendency to suffer from chronic diseases and the establishment of local manufacturers is expected only to accelerate market growth. For Instance, Siemens Healthineers recently set up a new facility for production of CT scanners in India to address the demand there and further expand its market position.
Global Spectral Computed Tomography Market By Region
- Largest
- Fastest
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Spectral Computed Tomography Market Dynamics
Drivers
Enhanced Diagnostic Accuracy
- The Spectral Computed Tomography (CT) market is witnessing significant growth, driven by the promise of enhanced diagnostic accuracy. Spectral CT technology goes beyond conventional CT scanning by capturing data at different energy levels, allowing for a more detailed analysis of tissue composition and material characterization. This advancement enables healthcare professionals to obtain comprehensive insights into the underlying properties of tissues, leading to improved detection and characterization of various medical conditions. The ability to differentiate between different materials based on their spectral signatures enhances diagnostic precision, particularly in complex cases where traditional CT imaging may fall short. By providing a more nuanced understanding of tissue composition, Spectral CT contributes to early and accurate diagnoses, ultimately improving patient outcomes and paving the way for more personalized and effective medical interventions.
Advanced Imaging Capabilities
- The Spectral Computed Tomography (CT) market has surged due to the integration of advanced imaging capabilities. Spectral CT, leveraging dual-energy or multi-energy imaging techniques, offers a paradigm shift in diagnostic imaging. It enables the differentiation of materials and tissues based on their spectral signatures, providing enhanced contrast resolution and improved tissue characterization. By capturing information across multiple energy levels simultaneously, spectral CT generates detailed insights into tissue composition, aiding in the detection and characterization of lesions, tumors, and various diseases.
Restraints
Limited Clinical Evidence
- Despite the promising potential of spectral CT in providing enhanced diagnostic information, there may be a limited body of clinical evidence supporting its superiority over conventional CT in certain applications. The lack of robust clinical data demonstrating clear benefits in specific medical scenarios may lead to hesitation among healthcare providers to fully embrace spectral CT.
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Spectral Computed Tomography Market Competitive Landscape
The market demonstrates a moderate level of consolidation, where a few major players hold a substantial portion of the revenue share. These key industry participants are strategically focused on introducing innovative products to solidify their positions in the market.
Top Player’s Company Profiles
- Siemens Healthineers
- GE Healthcare
- Philips Healthcare
- Toshiba Medical Systems Corporation
- Hitachi Medical Corporation
- Shimadzu Corporation
- Carestream Health
- Samsung Medison
- Hologic, Inc.
- Fujifilm Medical Systems
- Esaote SpA
- Agfa-Gevaert Group
- Mindray Medical International Limited
- Planmed
- CurveBeam LLC
- Medtronic plc
- Konica Minolta, Inc.
- Varian Medical Systems
- Analogic Corporation
- NeuroLogica Corporation
- Xoran Technologies, LLC
- Cubresa Inc.
Recent Developments
- In September 2022, Lumafield succeed in bagging $35 million through Series B funding. The funding would help the company to build affordable desktop CT scanners.
- In September 2022, Sempre Group announced the launch of CT systems as well as industrial CT scanning and data analysis services from Ireland office
- In September 2022, Auckland Radiology Group announced to build a new radiology clinic in Whangārei and Northland. The Facility will be equipped with PET CT scanner by mid-2023.
- In September 2022, Austrailia launched new mobile cancer scan unit equipped with CT scanner for rural population
Spectral Computed Tomography Key Market Trends
Reduced Radiation Dose
- The Spectral CT market has seen unexpected advancements, predominantly in reducing radiation doses. This progress aligns with the increasing importance of patient safety and minimizing radiation exposure in medical imaging procedures. Spectral CT technology introduces novelties like dual-energy imaging, which enables better tissue characterization and visualization while substantially lowering the radiation dose required for scans. By utilizing different energy spectra, spectral CT optimizes imaging protocols to fold more information with summary radiation exposure, making it an invaluable advancement in diagnostic imaging, particularly for susceptible populations or individuals demanding recurrent scans.
Spectral Computed Tomography Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the spectral computed tomography market has observed growth owing to advancements in medical imaging technologies. This growth is fuelled by the growing occurrence of chronic diseases, rising demand for accurate diagnosis, and the expanding age population worldwide. Spectral CT's ability to provide thorough and precise imaging with improved tissue description and improved diagnostic accuracy has spurred its adoption across various medical specialties. Furthermore, the integration of artificial intelligence and machine learning algorithms in spectral CT systems has further transformed diagnostic capabilities, contributing to market expansion. Though, the high cost of spectral CT systems, coupled with worries regarding radiation exposure, remains a challenge for extensive adoption. Disapproving this, continuous research and development efforts intensive on enhancing imaging capabilities, dropping radiation doses, and cultivating cost-effectiveness are predictable to survive market growth in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.03 billion |
| Market size value in 2031 | USD 12.39 billion |
| Growth Rate | 6.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Spectral Computed Tomography Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Spectral Computed Tomography Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Spectral Computed Tomography Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Spectral Computed Tomography Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Spectral Computed Tomography Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Spectral Computed Tomography Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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