Worldwide Micro Computed Tomography Industry to 2027 - Increasing Spending on R&D Activities by Healthcare Vendors and Governments is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Micro Computed Tomography Market By Product, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Micro Computed Tomography Market size is expected to reach $342.5 Million by 2027, rising at a market growth of 10% CAGR during the forecast period.

Key Market Players

• Bruker Corporation
• PerkinElmer
• Thermo Fisher Scientific
• Zeiss Group
• NeoScan
• Sanying Precision Instruments Co. Ltd
• North Star Imaging Inc
• SCANCO Medical AG
• TESCAN ORSAY HOLDING, a.s.
• QRM GmbH

In micro computed tomography, x-rays are used to develop a 3D image comprising 2D planar images, which are processed & reconstructed into 3D models. It is generally known as a 3D x-ray, microtomography, or microCT imaging, which is similar to CT scans that are carried out in hospitals but Micro Computed Tomography is on a smaller scale and provides better & improved resolution.

Moreover, micro-CT delivers exceptional cross-sectional images of skeletal structures and thus, it is utilized for the evaluation of bone structure for a very long time. It is generally utilized to diagnose bone diseases like osteoporosis and also to analyze the efficacy of therapeutics like bisphosphonates. Additionally, Micro Computed Tomography is also used to study cancer biology. Micro CT scanning of soft tissue is witnessing an increase in its applications within cardiovascular and pulmonary research due to the development of new contrast agents.

Factors like increasing applications and high demand for technically advanced systems that can do 3D rendering are estimated to fuel the growth of the micro computed tomography market during the forecast period. In addition, improved product features and a high rate of replacement are anticipated to propel the growth of the market. The potential applications of Micro Computed Tomography systems are increased due to added capabilities in these systems.

COVID-19 Impact Analysis

The COVID-19 pandemic has significantly impacted the micro computed tomography market as there was a reduction in the manufacturing of imaging devices. The imposition of numerous regulations on a business domain like restricted workforce, a temporary ban on manufacturing units, and imports & exports, has negatively impacted the growth of the micro computed tomography market.

Market Growth Factors:

Increasing spending on R&D activities by healthcare vendors and governments

The prevalence of various diseases across the globe is motivating governments to invest a significant amount in R&D activities. Several healthcare vendors are increasing their investments in R&D to develop more advanced Micro Computed Tomography devices and tools, which is expected to support the growth of the market over the forecast period. In addition, the increasing spending of many organizations across different verticals on R&D activities is expected to surge the demand for Micro Computed Tomography around the world.

Growing usage of micro computed tomography in the oil & gas sector

Micro computed tomography (CT) is increasingly utilized in the oil & gas industry for imaging, quantifying properties, and evaluating the distribution of fluids in porous rocks to identify the porosity of a core sample, Micro Computed Tomography scans are carried out with the sample saturated simultaneously by two fluids that display extremely contrasting x-ray attenuations. This high demand for Micro Computed Tomography in the oil and gas sector is expected to augment the growth of the micro computed tomography market.

Market Restraining Factor:

High chances of technical failures

As micro-CT systems are highly dependent on complex computer hardware and software, the chances of technical failures are comparatively higher than other imaging systems, which is expected to hinder the growth of the micro computed tomography market over the forecast period. In addition, the chances of artifacts in the data generated by Micro Computed Tomography is one of the major limitations of Micro Computed Tomography imaging. An artifact refers to anything in the image that does not precisely display the real geometry in the part being scanned.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

2.1 Introduction

2.1.1 Overview

2.1.2 Market Composition and Scenario

2.2 Key Factors Impacting the Market

2.2.1 Market Drivers

2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global

3.1 Cardinal Matrix

3.2 Recent Industry Wide Strategic Developments

3.2.1 Partnerships, Collaborations and Agreements

3.2.2 Application Launches and Application Expansions

3.2.3 Acquisition and Mergers

3.2.4 Geographical Expansions

3.3 Top Winning Strategies

3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)

3.3.2 Key Strategic Move: (Application Launches and Application Expansions : 2017, Jun - 2021, Jun) Leading Players

Chapter 4. Global Micro Computed Tomography Market by Product

Chapter 5. Global Micro Computed Tomography Market by Application

Chapter 6. Global Micro Computed Tomography Market by Region

Chapter 7. Company Profiles

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