CT to Witness Fastest Revenue Growth of Imaging Modules
By Medimaging International staff writers
Posted on 28 Feb 2017
Image: The Aquilion ONE / GENESIS Edition CT system (Photo courtesy of Toshiba Medical Systems).
The global CT systems market is estimated to grow at a CAGR of more than 7% through 2021, ahead of the growth in X-ray, ultrasound or MRI systems, driven by an increasing number of clinical applications, product developments, growing geriatric population, and rising incidences of chronic diseases, such as cancer, lung diseases, and rheumatoid arthritis. The significant growth being witnessed in the global CT market can also be attributed to the increasing incidence of injuries and growing awareness of the benefits of diagnosing a health condition during its earliest stages.
These are the latest findings of Kalorama Information, an independent medical market research firm.
The growth in the global CT market has picked up particularly after the commercial introduction of multi-slice technology, which has helped reduce exposure risk to harmful radiation and increase the scan speed of CT scanners. High-slice CT scanners are capable of rapid detection of the smallest of tumors or plaque deposits, making them ideal for diagnosing various cancer and heart disease markers. The use of CT systems has also received a boost from a number of studies, reduction in false positives, and development of low-dose systems. Additionally, the improving healthcare infrastructure in developing countries, such as China and India, and technological advancements in CT systems is also driving the growth.
The CT market in the US and Europe has recorded the strongest growth, though the growth potential for CT remains high in the emerging markets, where X-ray accounts for a larger share of the medical imaging business. High-slice CT models are expected to do particularly well in the market due to their higher image resolution, broader disease detection capabilities, and faster testing times.
"Among all medical imaging systems, CT scanners are expected to be the fastest growing imaging equipment segment. CT scanners will generate the fastest revenue growth as an increasing number of currently installed systems reach the end of their product life cycles and are replaced with higher value-added new generation models," said Bruce Carlson, Publisher of Kalorama Information. "However, there are factors that may impede market growth, such as the complex of international regulations needed for the approval of CT devices, and the side effects of ionization radiation."