The global micro computed tomography market is poised for substantial growth, with market valuation expected to soar from USD 258.8 million in 2024 to an impressive USD 721.8 million by 2034. This forecasted surge reflects a robust compound annual growth rate (CAGR) of 10.8% over the period spanning 2024 to 2034, highlighting the sector’s dynamic expansion.
In 2023, the micro-CT market generated revenues amounting to USD 233.6 million, underscoring its current momentum and market demand.
A pivotal catalyst driving this growth is the escalating adoption of non-destructive testing methods across diverse industries such as aerospace, automotive, and manufacturing. Micro-CT technology stands out for its capability to deliver intricate internal imaging without compromising the integrity of the sample, thereby revolutionizing quality control and research practices.
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“With industries increasingly relying on advanced imaging solutions, micro computed tomography emerges as a pivotal tool,” stated FMI. “This technology not only enhances precision in non-destructive testing but also opens new avenues for research and development across multiple sectors.”
The surge in demand for micro-CT solutions underscores its pivotal role in enhancing productivity, efficiency, and innovation across global industries. As the market continues to expand, stakeholders are poised to capitalize on emerging opportunities that redefine standards in imaging technology.
Key Takeaways: Micro Computed Tomography Industry
- The micro-computed tomography (micro-CT) market is poised for significant growth, reaching an estimated USD 721.8 million by 2034, from USD 258.8 million in 2024. This translates to a projected CAGR of 10.8%.
- Geographically, North America is expected to maintain its lead, with Canada at the forefront (CAGR of 5%). However, the fastest growth is anticipated in Asia Pacific, particularly India (CAGR of 10.4%).
- India’s market is driven by advancements in micro-CT technology, making it more efficient, user-friendly, and accessible. This includes improvements in resolution, scan times, software interfaces, and the integration of AI/machine learning for image analysis. Additionally, the development of low-cost and portable devices is expanding access for research and various industries.
- Sustainability is a key factor influencing the European market, with Spain leading the way (CAGR of 5.3%). The non-destructive nature of micro-CT makes it an attractive option for companies seeking environmentally friendly practices. This trend is further bolstered by government support for green technology.
- The US market, with its advanced healthcare infrastructure, is driven by the adoption of micro-CT in cutting-edge medical facilities and research. High investments in healthcare technology facilitate integration with personalized medicine and complex disease research. The presence of leading medical device manufacturers and a strong R&D focus contribute to continued advancements and widespread adoption in the US.
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Competitive Landscape:
The sector’s competitive dynamics are shaped by a multitude of prominent players who lead with advanced technology and a wide range of products. These key players maintain industry dominance through robust research and development capabilities and extensive global distribution networks.
In contrast, new entrants, often smaller specialized firms, concentrate on niche applications and cost-effective solutions, contributing to industry diversification. This competitive environment fosters ongoing innovation, with companies striving to enhance image resolution, user interfaces, and integration with emerging technologies.
Key Companies Profiled:
- Bruker Corporation
- PerkinElmer
- Thermo Fisher Scientific
- Zeiss
- Neoscan
- Sanying Precision Instruments Co. Ltd.
- North Star Imaging Inc.
- SCANCO Medical AG
- TESCAN
Some of the recent developments of key Micro Computed Tomography providers are as follows:
- In December 2023, PerkinElmer announced the purchase of Covaris. The deal will improve Covaris expansion potential while also broadening PerkinElmer’s existing life sciences portfolio in the rapidly developing diagnostics sector.
Key Segments of Micro Computed Tomography Industry
By Product Type:
By product type, the industry is divided into in-vivo and ex-vivo.
By Application:
By application, the industry is divided into life sciences, orthopedics, dentistry, agribio, material science and geology/oil and gas geology
By Region:
Key countries of North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe and Middle East & Africa have been covered in the report.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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