30 Jan 2020
Posted in Medical Devices
Computed tomography systems market in APAC to grow at CAGR of 15.7% between 2019 and 2028, says GlobalData
The computed tomography (CT) systems market in the Asia-Pacific (APAC) region is expected to grow at a compound annual growth rate (CAGR) of 15.7% from US$2.1bn in 2019 to US$7.7bn by 2028, according to GlobalData, a leading data and analytics company.
India will be by far the fastest growing country in the region growing at a CAGR of 26.3% between 2019 and 2028, which is more than double the average growth for the next three fastest growing markets; Taiwan, New Zealand and Australia, respectively.
The company’s report, ‘Computer Tomography (CT) Systems – Diagnostic Imaging Market Analysis and Forecast Model’ states that while the increase in the incidence of chronic diseases will be the main market driver, the use of image-guided interventions and inclination towards non-invasive disease diagnosis will propel the market during the forecast period.
Manasa, Medical Devices Analyst at GlobalData, comments: “Siemens Healthineers AG has remained as the market leader in APAC attributing to its innovation of advanced technologies and by increased geographic penetration in 2019. GE Healthcare LLC and Canon Medical Systems Corporation have established themselves as strong competitors in this space.”
In the APAC region, 64-slice CT systems are the major revenue contributors within CT systems, with the market growing at a CAGR of 16.5% between 2019 and 2028, followed by 256-320 slice CT systems.
Manasa concludes: “The technological advancements in the medical field will have a positive impact on the growth of CT systems market. The advent of CT systems with higher imaging slices using a lower dose of radiation will help physicians make more accurate clinical decisions while increasing patient safety and will further drive the market forward.”