Rising Prevalence of Cancer to Boost the Global CT Simulators Market, reaching a CAGR 5.5% by 2027

 

 More cancer cases and chronic diseases are anticipated to be discovered as the population ages. According to the National Brain Tumor Society, approximately 700,000 people in the United States will have a brain tumor in 2020, with 87,000 people expected to be diagnosed. As a result, the growing elderly population is leading to a rise in the burden of chronic diseases, which may fuel demand for CT stimulators.

Data Bridge Market Research analyses that the CT Simulators Market is expected to grow at a CAGR of 5.5% in the forecast period of 2020 to 2027 and is expected to reach USD 347,922.11 thousand by 2027. Government policies that support healthcare funding and increased collaboration among major industry players for the development and distribution of improved CT stimulators are expected to propel the industry forward. Continuous technological advances in CT stimulators is expected to boost market revenue.  

Key Findings of the Study

  • The CT simulators market is anticipated to reach a value of USD 347,922.11 thousand by 2027, with a CAGR of around 5.5% during the forecast period from 2020 to 2027.
  • North America dominated the CT simulators market in 2020 due to the rising use of radiation therapy for the treatment of cancer diseases in this region.
  • Asia Pacific is expected to register lucrative growth over the forecast period of 2020 to 2027 owing to the rising demand for CT simulators and rising prevalence of cancer in this region.
  • The hospitals segment accounted for the largest share in 2020 at 89.91%. CT simulators are primarily used to simulate the radiotherapy procedure, which is typically performed as an outpatient procedure in hospitals and takes less than 60 minutes. Hence, this is expected to boost the CT simulators market growth.
  • The CT simulators market was negatively affected by COVID-19 outbreak. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world.  

Increasing prevalence of chronic diseases mainly cancer is expected to drive the market's growth rate

One of the primary variables affecting CT stimulators market demand is the rising prevalence of chronic diseases around the world. Changing lifestyle behaviours such as smoking and tobacco use, combined with rising levels of air pollution, will increase cancer prevalence even further. According to the National Center for Biotechnology Information, radiation therapy cancer treatment has the potential to improve cure rates for 3.5 thousand cancer patients while also providing palliative relief for another 3.5 thousand cancer patients, resulting in an annual increase of over 14 thousand new cancer cases.

In addition to this, cancer disease and several types of chronic disorders need the technology of CT simulator as CT simulator assist radiation oncologist to pinpoint the tumor and other surrounding areas which will require radiation treatment. Hence, the surging number of cancer cases and other chronic diseases is enhancing demand of the CT simulators market. 

Segment Analysis:

The CT simulators market is segmented on the basis of product type, technology, modality, application, end user and distribution channel.

  • On the basis of product type, global CT simulators market is segmented into large bore CT simulators and multi-slice CT simulators. In 2020, large bore CT simulators segment is expected to dominate the global CT simulators market with 66.35% market share due to the growing adoption of radiation therapy for treating brain cancer, breast cancer, prostate cancer, liver cancer, colorectal cancer, thyroid cancer, cervical cancer, lymphoma, lung cancer, spine cancer among others. Furthermore, the rising need for large bore CT simulators, which radiation oncologists utilize to perform simulation for all patients during outpatient visits to treatment centers or hospitals, is boosting the demand for radiation therapy for cancer treatment.
  • On the basis of technology, global CT simulators market is segmented into 3D CT simulation and 4D CT simulation. In 2020, 3D CT simulation segment is expected to dominate the global CT simulators market with 68.17% market share owing to the surging demand of external-beam radiation therapy devices such as LINAC for the treatment of brain cancer, breast cancer, prostate cancer, liver cancer, colorectal cancer, thyroid cancer, cervical cancer, lymphoma, lung cancer, spine cancer among others.
  • On the basis of modality, global CT simulators market is segmented into standalone and tabletop. In 2020, the standalone segment is expected to dominate the global CT simulators market with 72.81% market share as most standalone CT simulators are the most recommended CT simulators for cancer simulation during radiation oncologists' treatment planning. Standalone CT simulators are commonly used in radiation therapy rooms with shielded walls to aid in the identification of cancer radiotherapy treatment planning.
  • On the basis of application, global CT simulators market is segmented into image-guided radiation therapy, three-dimensional conformal radiation therapy, brachytherapy, interventional cardiology procedure and others. In 2020, image-guided radiation therapy testing segment is expected to dominate the global CT simulators market with 43.70% market share due to the increasing adoption of external-beam radiation therapy for treatment of cancer.
  • On the basis of end user, global CT simulators market is segmented into hospitals, specialty center, ambulatory surgical centers and others. In 2020, the hospitals segment is expected to dominate the global CT simulators market with 89.91% market share. CT simulators are primarily used to simulate the radiotherapy procedure, which is typically performed as an outpatient procedure in hospitals and takes less than 60 minutes. Hospitals are one of the first points of contact and the most reliable option for patients in various countries seeking cancer treatment.

In 2020, the hospitals segment is projected to hold the largest share of end user segment in the CT simulators market

In 2020, the hospitals segment is anticipated to hold the largest share of global CT simulators market as CT simulators are primarily used to simulate the radiotherapy procedure, which is typically performed as an outpatient procedure in hospitals and takes less than 60 minutes. Hospitals are one of the first points of contact and the most reliable option for patients in various countries seeking cancer treatment.. The hospitals segment is growing with a CAGR of 5.6% in the forecast period of 2020 to 2027.

  • On the basis of distribution channel, global CT simulators market is segmented into direct tender and retail sales. In 2020, the direct tender segment is expected to dominate the global CT simulators market with 87.20% market share. The benefits of bulk purchase, discounts, and simple availability of products, most hospitals, specialty centers, ambulatory surgery centers, and academic and research organizations prefer direct tender.

In 2020, the direct tender segment of distribution channel segment is anticipated to dominate the CT simulators market

In 2020, the direct tender segment of this market will dominate the CT simulators market owing to the growing incidences of hard tissue traumas as compared to soft tissue traumas as for the benefits of bulk purchase, discounts, and simple availability of products, most hospitals, specialty centers, ambulatory surgery centers, and academic and research organizations prefer direct tender. The direct tender segment is expected to reach the highest CAGR of 5.7% in 2020-2027.

Major Players

Data Bridge Market Research recognizes the following companies as the major CT simulators market players in CT simulators market is GE Healthcare (US).    

Market Development

  • In September 2019, Siemens Healthcare GmbH had announced that they have introduced two dedicated CT simulation systems Somatom go.Sim and Somatom go.Open Pro for the radiation therapy planning. This novel technology improves the precision of radiotherapy planning. The company's product portfolio has been expanded as a result of the introduction of new products, and it has produced sufficient revenue in the market.
  • In February 2019, CANON MEDICAL SYSTEMS CORPORATION (A Subsidiary Of Canon Inc.) had announced the expansion of their CT simulation radiation oncology product portfolio by launching the Aquilion Prime SP and Aquilion Lightning 80. This is a high-tech product with a low-cost solution that boosts usage, efficiency, and workflow. The company's product range has been expanded as a result of the new items' introduction, and the company is generating sufficient money in the market.

Regional Analysis

Geographically, the countries covered in the CT simulators market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in CT simulators market during the forecast period 2020 - 2027

North America will continue to dominate the CT simulators market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period as the number of CT simulators has increased in recent years as a result of rising use of radiation therapy for the treatment of cancer diseases, as well as rising cancer disease prevalence in the region. As the number of cancer patients in the United States continues to rise, the United States is likely to dominate the market and lead growth in North America.

Asia-Pacific is estimated to be the fastest growing region in CT simulators market the forecast period 2020 - 2027

Asia-Pacific is expected to grow rapidly during the forecast period because the demand for CT simulators in Asia-Pacific countries is quickly increasing. China is predicted to dominate the Asia-Pacific CT simulators market, as it is one of the world's top countries in terms of fast increasing diagnosis and treatment rates, due to improved government measures to raise awareness of the importance of diagnosis and treatment.

COVID-19 Impact Analysis

Over the last 18 months, almost every industry on the planet has suffered a setback. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world. The CT simulators market is no exception. Furthermore, consumer preferences has decreased as people are now much more concentrated on removing non-essential expenses from their budgets as the wider economic situation of most people has been adversely impacted by this outbreak. Over the forecast period, the aforementioned factors are likely to have a negative impact on the CT simulators market's revenue trajectory.

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