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 2024-2031

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.