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Cone Beam Computed Tomography Market will be Worth US$ 960.8 Million by 2023

06-12-2018 05:31 PM CET | Health & Medicine

Press release from: Transparency Market Research

Cone Beam Computed Tomography Market will be Worth US$ 960.8

The global cone beam computed tomography (CBCT) market bis characterized by players who are expanding their geographical reach to tap into the unmet medical demands of developing countries. This is expected to help these companies to gain more shares within the market. Players are expected to adopt the strategy of merging and acquiring other companies in order to comfortably expand their product portfolio as well as expand their consumer base.

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The top three companies within this market accounted for a staggering 70% of the total market for cone beam computed tomography in 2015, states Transparency Market Research (TMR) in its latest report. The names of these companies are Sirona Dental Systems, Cefla Group, Carestream Health, QR s.r.l., VATECH Global Co. Ltd., Danaher Corporation, Planmeca OY, and Prexion, Inc.

According to Transparency Market Research, the global cone beam computed tomography market will be worth US$960.8 mn by 2023. On the basis of application, it is expected that the oral surgery segment will emerge as the fastest growing application segment during the forecast period. The growth at such a fast pace of this segment is attributed to the advancements in maxillofacial and oral imaging thanks to CBCT scanners. From a geographical perspective, North America led in the past and is expected to continue to do so in the coming few years on account of the surge in the demand for dental procedures.

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The developing nations in China, India, Brazil, and Mexico are providing ample growth opportunities for market players to grow and expand. The increasing healthcare expenditure and improving medical infrastructure in these countries are playing a major role in the growth of the cone beam computed tomography market.

According to a report by the United Nations Population Division in 2013, the geriatric population is expected to reach 2 billion by 2050 and this is expected to be beneficial for the CBCT market. Increasing incidences of dental complications among old age groups will bolster the demand for sophisticated Imaging techniques in dentistry, thereby driving the global CBCT market. The increasing affordability of advanced computer equipped CBCT units in developing nations will also aid the growth of the cone beam computed tomography market. Dentists and imaging specialists are not only using but also recommending the use of CBCT technologies for determining a problem with absolute clarity. This will propel the demand for CBCT devices.

On the other hand it is expected that the high excise duty which is imposed on the sales of medical devices across the U.S. will act as a key restraining factor for the growth of the cone beam computed tomography market. In addition to this, the high cost of using this technology will deter many institutes in healthcare organizations from making use of CBCT technologies. There are still a few healthcare organizations in underdeveloped nations which are adamant towards holding on to traditional methods rather than adopting modernization and use CBCT technology. This will pause a challenge for the growth of the global cone beam computed tomography market.

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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