Dublin, Jan. 24, 2022 (GLOBE NEWSWIRE) -- 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.
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.
Based on Product, the market is segmented into Ex-vivo and In-vivo. In vivo Micro Computed Tomography scanners assist in scanning longer objects that are used in studies for evaluating the effects of nutrition, body mass, drugs, and treatments on hormones, bone quality, cancers, bone growth, and various regeneration models. Such kinds of products assist in decreasing the number of animals utilized in research. Also, in vivo micro-CT data are utilized as a reference for micro-SPECT or micro-PET scan registration.
Based on Application, the market is segmented into Life Sciences, Bones, Dentistry, Geology/Oil and Gas Geology, Plant & Food and Material Science. The dentistry segment is estimated to showcase the fastest CAGR during the forecast period. It is owing to the fact that micro-CT is majorly utilized in dentistry, from dental research to treatment. Additionally, micro-CT develops high-quality images of the tooth and its nearby structures from the external to the internal structure. The high knowledge of the researchers regarding tooth structure is base for improving treatment plans.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region in the micro computed tomography market with the highest revenue share in 2020 and is estimated to showcase a promising CAGR during the forecast period. Factors such as the presence of numerous key market players in the region, and the high frequency of the latest product launches are responsible for growth of the regional market.
The major strategies followed by the market participants are Application Launches. Based on the Analysis presented in the Cardinal matrix; Thermo Fisher Scientific is the forerunners in the Micro Computed Tomography Market. Companies such as Zeiss Group, PerkinElmer, Inc., Bruker Corporation, are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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., and QRM GmbH.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market 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
4.1 Global Ex-vivo Market by Region
4.2 Global In-vivo Market by Region
Chapter 5. Global Micro Computed Tomography Market by Application
5.1 Global Life Sciences Market by Region
5.2 Global Bones Market by Region
5.3 Global Dentistry Market by Region
5.4 Global Geology/Oil and Gas Geology Market by Region
5.5 Global Plant & Food Market by Region
5.6 Global Other Application Market by Region
Chapter 6. Global Micro Computed Tomography Market by Region
Chapter 7. Company Profiles
7.1 Bruker Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
22.214.171.124 Application Launches and Application Expansions:
126.96.36.199 Partnerships, Collaborations and Agreements:
7.2 PerkinElmer, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
188.8.131.52 Acquisition and Mergers:
7.3 Thermo Fisher Scientific, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
184.108.40.206 Application Launches and Application Expansions:
7.3.6 SWOT Analysis
7.4 ZEISS Group
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expense
7.4.5 Recent strategies and developments:
220.127.116.11 Application Launches and Application Expansions:
7.5.1 Company Overview
7.5.2 Recent strategies and developments:
18.104.22.168 Partnerships, Collaborations, and Agreements:
7.6 Sanying Precision Instruments Co., Ltd
7.6.1 Company Overview
7.7 North Star Imaging Inc (Illinois Tool Works (ITW))
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
22.214.171.124 Application Launches and Application Expansions:
126.96.36.199 Geographical Expansions:
7.8 SCANCO Medical AG
7.8.1 Company Overview
7.9 TESCAN ORSAY HOLDING, a.s.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
188.8.131.52 Application Launches and Application Expansions:
7.10. QRM GmbH (PTW Freiburg)
7.10.1 Company Overview
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