Dual and Multi-Energy Computed Tomography (CT) Market

2019 Analysis and Review of Dual and Multi-Energy Computed Tomography (CT) Market by Product Type - Rapid kVp Switching, Energy-Sensitive Sandwich Detectors, and Dual-Source CT for 2019-2029

  • 2020-04-15
  • REP-GB-11301
  • 41 Tables
  • 90 Figures
  • 179 pages
  • PDF PPT EXCEL
Dual and Multi-Energy Computed Tomography (CT) Market
  • SELECT LICENSE :

  • US$5,000
  • US$7,500
  • US$10,000

Growing Healthcare Industry Catalyzing Market Growth

Healthcare is an ever-evolving and opportunity-rich industry. FMI finds that, worldwide spending on healthcare will grow at a healthy pace in the coming years. While there are some uncertainties, industrials are considering historic and present tailwinds such as expanding geriatric population, increasing prevalence of chronic disorders, tech-driven transformations, and evolving care models. The healthcare industry is increasingly shifting away from treatment to prevention and early diagnostics. Amidst these trends, the global dual and multi-energy computed tomography (CT) market will register a value of US$ 2 Bn towards the end of forecast period (2019-2029). 

COVID -19 : Impact Analysis

Request the coronavirus impact analysis across industries and markets

Request Covid -19 Impact

Report Scope

Report Metrics

Details

Base Year considered

2018

Actual Estimates/Historical Data

2014 - 2018

Forecast Period

2019 - 2029

Forecast Units

Value (USD) Mn

Segments Covered

Product Type, Clinical Application, End User, and Region

Regions Covered

North America (US & Canada), Europe (UK, Germany, France, Spain, Italy, Russia, BENELUX and Rest of Europe), Latin America (Brazil, Mexico, and  Rest of LA), East Asia (China, Japan and South Korea) South Asia (India, Indonesia, Malaysia, Thailand and Rest of South Asia), Oceania (Australia  and New Zealand) and MEA (GCC, South Africa, Turkey, Northern Africa, and the Rest of MEA)

Key Players

Koninklijke Philips N.V., GE Healthcare, Siemens, and Healthineers

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Dual and Multi-Energy Computed Tomography (CT) Market - Key Research Findings

The global dual and multi-energy computed tomography market in 2018 was valued US$ 2.6 Bn. The market is expected to expand at a CAGR of 8% during the forecast period of 2019-2029.

  1. Growth in the prevalence of chronic diseases, increase in technological innovation, and rising adoption of minimally-invasive diagnostic procedures are the primary factors for the growth of dual and multi-energy computed tomography market. Moreover, inclination towards the use of dual and multi-energy CT, and growing prevalence of chronic diseases, mainly cardiovascular diseases and tumorigenic cancer, are factors expected to drive market growth.
  2. Collectively, Europe and North America are expected to account for half of the revenue share in the global dual and multi-energy computed tomography market by the end of 2029.
    • North America will continue to be a prominent regional due to increasing prevalence of chronic diseases and increase in government support towards effective diagnostic services.
    • Dual-source CT remains the most preferred product type in the global dual and multi-energy computed tomography market. The adoption of dual-source CT is increasing because of its accurate nature and efficient availability.
  3. Hospitals will continue to be prominent end users due to the wide availability of dual and multi-energy CT in hospitals.
  4. In terms of clinical application, CT angiography is expected to hold a large revenue share in the overall market.

Key Factors Shaping Dual and Multi-Energy CT Market

Increasing Aging Population and Need for Medical Imaging

Increase in the aging population due to longer life expectancy, especially in high-income countries, is anticipated to boost the medical and healthcare industry.

According to data of the National Institutes of Health, patients age 65 and older undergo diagnostic imaging two or more times that of younger people. Women also tend to use imaging slightly higher than men. This results in an increase in the number of diagnostic procedures and more effective treatment.

Increasing patient expectations in relation to quality of care is also driving the demand for advances in imaging technology, and hence, boosting the overall imaging market.

The COVID-19 pandemic has put a huge strain on the healthcare sector, with the number of confirmed cases crossing 2 million, as of now. This accents the need for advanced medical imaging techniques to diagnose the coronavirus patient pool. Dual and multi-energy CT would be essential in diagnosing affected persons, and curb the mortality rate. CT scans are commonplace in detecting lung cancer in the elderly having a history of smoking. Driven by recent breakthroughs in the field of medical imaging, dual and multi-energy CT will play an instrumental role in the mass scanning and diagnosis of suspected cases of coronavirus.

Increasing Preference of Minimally-invasive Diagnostic Procedures

Imaging procedures have improved the ability of skilled personnel to properly diagnose and treat conditions, while also allowing patients to avoid more invasive procedures.

For many conditions such as brain tumors, imaging is the only non-invasive diagnostic method available. However, the appropriate choice of imaging modality depends on the disease, organ, and specific clinical questions to be addressed. Many open surgical procedures can now be replaced with minimally-invasive procedures under CT guidance. For example, fluoro-CT imaging is now used to guide a number of minimally-invasive procedures.

This may result in increased global demand for dual energy CT scanners, which is expected to increase the growth of global dual and multi-energy CT market.

Increased Funding for Research & Development

Due to increase in the incidence of injuries and diseases, such as cancer and orthopedic disorders, among others, various governments in developed countries are actively funding R&D activities to develop cost-effective and efficient medical devices.

For instance, John M. Boone, a UC Davis medical physicist and professor of radiology, has been awarded a US$ 2.88 million grant from the National Cancer Institute to further develop and research computed tomography to detect breast cancer. By increasing the performance of breast cancer screening in a practical and cost-efficient manner, the government is trying to improve care and increase survival in women suffering from the disease, and most importantly, also to reduce over-treatment of women with benign findings.

Market Growth in Emerging Economies

Increasing prevalence of chronic and cardiovascular diseases, and other diseases, in the Asia Pacific region, is offering a strong impetus to the growth of the dual and multi-energy computed tomography market. The launch of advanced technological devices prominently accounts for the growing popularity of dual and multi-energy CT across developing regional markets.

Dual and Multi-Energy CT Market: Structure Analysis

  • The dual energy and multi-energy CT market is a consolidated market space.
  • There are a few key players and three main key players present in the market.
  • Siemens Healthineers is expected to hold a large revenue share, i.e. approximately 40% of the overall market.
  • Key players continue to focus on product development, which can increase the growth of the overall market at a significant rate.

Dual-Source CT Attracts Greater Investments

Dual-source CT eliminates the need for a second photon counting detector, and the scanning process is achieved with existing hardware. By 2029, dual-source CT will represent a multibillion-dollar opportunity. Market players are also placing their bets on rapid kilovoltage (kVp) switching, as the technique offers greater flexibility and good temporal and spatial registration. Over one-third of total market stack would be realized by rapid (kVp) switching. However, this study states that, the adoption of rapid (kVp) switching is likely to falter in the near term.

Developed Regions Capture Over 60% Share

Both, North America and Europe would remain the epicenter of growth opportunities in dual and multi-energy CT market over the next decade. Governments in these developed regions are showing ample support for the establishment of diagnostic centers to address the expanding patient pool of chronic diseases. Further, the Centers for Medicare & Medicaid Services (CMS) reveals that, U.S. healthcare spending is expected to reach around one-fifth of its GDP by 2020. Moving ahead, governments in Asia and the Middle East & Africa (MEA) are encouraging startup companies as well as multinational corporations (MNCs) to boost growth in the healthcare and medical device industry. As such, market players in the dual and multi-energy computed tomography market are targeting these regions to strengthen their business foothold.

* This data is only a representation. Actual data may vary and will be available in report.

Developed Regions Capture Over 60% Share
Developed Regions Capture Over 60% Share
Developed Regions Capture Over 60% Share
Developed Regions Capture Over 60% Share
  • 2014
  • 2019
  • 2022
  • 2029
  • Arrow

Future Lies in Research Activities

Players in the dual and multi-energy CT market are focusing on performing rigorous research on conventional methods. While existing clinical techniques mainly describe material separation, ongoing research activities consist of abdominal imaging, which includes detection and stratification of liver steatosis and fibrosis. Furthermore, researchers are comparing different types of techniques used in dual energy CT scanners, and are laying greater emphasis on multi-energy CT. Continuous research activities on dual and multi-energy CT will thus create a fertile environment for market players over the years ahead.

Dual-source CT captures leading revenue share

Rapid kVp switching to generate meaningful returns

CT angiography remains key application area

Increasing application in atherosclerotic plaque removal

Hospitals account for greater adoption

Adoption in diagnostic centers to rise

How Growth will Unfold

Hospitals will continue to remain the immediate end user of dual and multi-energy CT throughout the projection period, procuring over half of overall revenue. Rising caseloads of diseases and injuries that require effective diagnostic imaging services are translating to increasing number of hospitals across continents. As such, market players are significantly investing in hospitals to ensure profitable margins. In addition, they are also targeting diagnostic centers, which are exhibiting a growth rate nearly identical to that of hospitals.

Dual and Multi-Energy CT Market by End User

* This data is only a representation. Actual data may vary and will be available in report.

Click Here To Know How The Growth Will Unfold

Custom Market Research Services

FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

Overview

A recent market study published by Future Market Insights (FMI) on the dual and multi-energy computed tomography (CT) market offers global industry analysis of 2014-2018 and opportunity assessment for 2019-2029. The report consists of a comprehensive assessment of the most important market dynamics. On conducting thorough research on the historical as well as current growth parameters of the dual and multi-energy CT market, growth prospects of the market are obtained with maximum precision. The report features unique and salient factors that may have a huge impact on the development of the dual and multi-energy computed tomography market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the dual and multi-energy CT market in the coming years. The report provides detailed information about the current and future growth prospects of the dual and multi-energy computed tomography market in the most comprehensive way for better understanding of the readers.

Dual and Multi-Energy Computed Tomography (CT) Market Taxonomy

FMI’s study on the dual and multi-energy computed tomography market offers information divided into four important segments - product type, clinical application, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Product Type

  • Rapid kVp Switching
  • Energy-Sensitive Sandwich Detectors
  • Dual-Source CT

Clinical Application

  • Virtual Mono-energetic Imaging
  • CT Angiography
  • Perfused Blood Volume
  • Virtual Non-contrast-enhanced Images
  • Atherosclerotic Plaque Removal
  • Virtual Non-calcium Images
  • Urinary Stone Characterization
  • Crystalline Arthropathies
  • Others

End User

  • Hospitals
  • Diagnostic Centers
  • Ambulatory Surgical Centers

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

What's Included

The report commences with the executive summary of the dual and multi-energy computed tomography market report, which includes the summary of key findings and statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the dual and multi-energy CT market, as well as the key trends impacting the market.

Readers can find detailed taxonomy and product definition of the dual and multi-energy CT market in this chapter, which helps them understand basic information about dual and multi-energy CT.

This section highlights key trends impacting the dual and multi-energy computed tomography market, which will help readers understand the current trends and their impact on market growth.

This section explains the current and future market volume (in ‘000 Units) projections and the growth trend. Readers can also get knowledge about the current volume of dual and multi-energy computed tomography, by region/ country and historical market volume (in ‘000 Units) of global dual and multi-energy CT market.

The report covers the pricing analysis of the market on the basis of region and other attributes in this chapter. It will help the reader find comparative analysis of product pricing across different regions of the globe.

This section explains the global market value analysis and forecast for the dual and multi-energy computed tomography market during the forecast period. Along with the historical market and opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019-2029).

This chapter explains the key macroeconomic factors that are expected to influence the growth of the dual and multi-energy computed tomography market during the forecast period. The chapter also highlights the major forecast factors that will shape market growth. This section also provides knowledge about value chain analysis of the market. Besides, it provides key dynamics of the dual and multi-energy CT market, which include the drivers, restraints, and opportunity analysis. This chapter is expected to enable readers to understand the factors that are propelling the growth of the dual and multi-energy CT market, as well as those that are likely to hamper the growth of the dual and multi-energy computed tomography market. The opportunity analysis for the dual and multi-energy CT will help readers understand the market opportunities, based on which they can plan their strategies.

Based on product type, the dual and multi-energy CT market is segmented into Rapid kVp switching, energy-sensitive sandwich detectors and dual-source CT. In this chapter, readers can find information about a detailed analysis of the market by different product type of dual and multi-energy CT and their growth over the forecast period.

Based on clinical application, the dual and multi-energy computed tomography market is segmented into virtual mono-energetic imaging, CT angiography, perfused blood volume, virtual non-contrast-enhanced Images, atherosclerotic plaque removal, virtual non-calcium images, urinary stone characterization, crystalline arthropathies, and others.

Based on end user, the dual and multi-energy CT market is segmented into hospitals, diagnostic centers and ambulatory surgical centers. In this chapter, readers can find information on market attractive analysis based on end user.

This chapter explains how the dual and multi-energy computed tomography market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa (MEA).

This chapter includes a detailed analysis of the growth of the North America dual and multi-energy CT market along with the country-wise assessment including the U.S. and Canada. Readers can also find key takeaways of this region, and market growth based on product type, end user, and country in the North American region.

This chapter includes the growth prospects of the dual and multi-energy computed tomography market in leading countries such as Brazil, Mexico, and the Rest of Latin America. Readers can find thorough information about the growth parameters of the Latin America dual and multi-energy computed tomography market during 2019-2029.

Important growth prospects of the dual and multi-energy CT market based on product type, clinical application, end user, and country in several European countries such as the U.K., Germany, France, Italy, Spain, Russia, BENELUX, and the Rest of Europe are included in this chapter.

Detailed information about factors such as incremental opportunity, Y-O-Y growth, and regional trends that are impacting the growth of the East Asia dual and multi-energy CT market are included in this chapter. It also includes the growth prospects of the market in leading East Asian countries such as China, Japan, and South Korea.

India, Indonesia, Malaysia, Thailand, and the Rest of South Asia are the leading countries/regions in South Asia that are the prime subjects of assessment to obtain the growth prospects of the South Asia dual and multi-energy computed tomography market, in this chapter. Readers can find thorough information about the growth parameters of the South Asia dual and multi-energy CT market during 2028.

This chapter consists of important parameters that have a huge impact on the growth of the dual and multi-energy computed tomography market in Oceania, based on market segmentation, during the forecast period. The chapter also provides an overview of the drivers, restraints, and trends in the Oceania market.

This chapter provides information on how the dual and multi-energy CT market will grow in the major countries in MEA region, such as GCC Countries, South Africa, Northern Africa, Turkey, and the Rest of MEA during 2019-2029.

This chapter covers the market analysis of competitors based on revenue tiers, single point view of portfolio across industry segments, and their relative market position.

In this chapter, readers can find a comprehensive list of all the leading stakeholders in the dual and multi-energy CT market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Players featured in the report include Koninklijke Philips N.V., GE Healthcare, and Siemens Healthineers.

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the report.

This chapter helps readers understand the research methodology followed to obtain various conclusions, important qualitative information, and quantitative information about the dual and multi-energy CT market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Product Managers 
  • Business Development Officers 
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders 
  • Raw Material Suppliers
  • Industry Experts
  • End Users
  • Current Market Dynamics and Challenges
  • Yesteryear Trends 
  • Market Characteristics
  • Market Performance and Growth Quadrants
  • Competition Structure and Market Structure
  • Strategic Growth Initiatives
  • Near-term and Long-term Market Growth Prospects
  • Market Segment Splits and Authenticity
  • Opinions on Market Projections and Validity of Assumptions

Secondary Research

  • Industry Publications
    • World Health Organizations (WHO)
    • National Institute of Health (NIH)
    • Centers for Medicare and Medicaid Services
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Company Websites, 
  • Morningstar

Primary Interview Splits

Primary Interview Splits dual and multi energy ct market designation

Primary Interview Splits dual and multi energy ct market stakeholder

To Learn More About our Comprehensive Perspective on Dual and Multi-Energy Computed Tomography (CT) Market,

Get in touch

Harish Tiwari

Harish Tiwari

Global Head - Business Development

Akshay Godge

Akshay Godge

Client Partner - Global Business Development

Our Clients


CASE STUDIES

See how our work makes an impact.

At FMI, we design strategies that are adaptive, impactful, and implementable.

Request Sample Ask An Analyst Request Methodology