USD 6.39 billion
Report ID: SQSG35A2043 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 119 | Figures: 77
Computed Tomography (CT) Scanner Market size was valued at USD 6.39 billion in 2021 and is poised to grow from USD 6.7 billion in 2022 to USD 9.92 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).
Computed tomography has undergone considerable technological developments in the previous ten years, including the emergence of low-dose and automated CT scanners, which have benefited the diagnostic imaging sector. These tools provide surgeons and patients with superior image quality, enhanced spatial resolution, and little radiation exposure. These cutting-edge CT machines have a console that is easier to use, they are easy to install, and they take up less room. These elements are encouraging researchers and healthcare professionals in the world's major healthcare markets to adopt such goods.
An enormous patient pool worldwide is getting computed tomography scans due to the rising prevalence of chronic diseases such as cardiovascular, cancer, neurologic, and orthopedic disorders. The National Center for Health Statistics reported that 1,898,160 new cases of cancer were reported in the United States in 2021. As a result, the demand for computed tomography scanners is expected to increase during the projected period due to the rising incidence of cancer around the world.
A popular medical imaging system for diagnostic and therapeutic purposes in healthcare institutions is computed tomography. The need for advanced imaging systems, especially computed tomography systems, is fueled by the increased frequency of chronic diseases and recent changes in the healthcare industry.
US Computed Tomography (CT) Scanner Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.39 billion
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The Global Computed Tomography (CT) Scanner Market is segmented based on technology, application, modality, end-user and regions. Based on technological analysis the market is further sub segmented into high slice, mid slice, low slice and Cone Beam Computed Tomography (CBCT) segments. Based on application, theComputed Tomography (CT) Scanner Market is segregated into orthopedics, cardiovascular, oncology, neurology and other segments. Based on the basis of modality, the Computed Tomography (CT) Scanner Market is segmented into C-arm and O-arm segments. On the basis of end-user, the Computed Tomography (CT) Scanner Market can be bifurcated into hospitals, diagnostic Imaging Centers and other segments. The regional insights of the Computed Tomography (CT) Scanner Market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Computed Tomography (CT) Scanner Market Analysis by Application
In 2021, the oncology sector led the application sector. During the projected period, it is also expected to post a CAGR that is significantly greater than that of other segments. Systems that use computed tomography are frequently used to find tumors and other cancer-related medical anomalies. The main drivers behind the expansion of this market are the rising incidence of cancer worldwide and the growing use of CT scanners for cancer diagnoses.
Due to the growing elderly population around the world and the rising prevalence of cardiovascular illnesses among the general population, it is predicted that the cardiovascular segment would exhibit a high CAGR during the forecast period.
Computed Tomography (CT) Scanner Market Analysis by End-User
In 2021, the hospital sector dominated the market and had the highest revenue share (36.3%). The market share has been impacted by both the rising number of procedures performed annually and the rising number of emergency hospital admissions. Additionally, CT scans are a useful tool for precise pre- and post-operative diagnosis to assess the efficacy of the treatment.
Hospitals have to set up their own CT scan machines due to the difficulties and risk involved in transporting critically ill patients from the hospital to a third-party diagnostics facility for CT scans, which has contributed to the expansion of this market. Over the projected period, ambulatory diagnostics facilities are expected to expand at the fastest rate. According to OECD data, ambulatory diagnostics facilities in the U.S. have 16 CT scanners per 1,000,000 residents. Given that it makes CT scans more accessible and affordable, the market is predicted to undergo a revolution as a result.
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In North America, there was a US$1.57 billion market for CT scanners in 2021. The region's growing acceptance of technologically advanced goods and the expanding number of patients having diagnostic imaging treatments are driving the market's expansion. Due to rising chronic disease awareness, the existence of well-established healthcare facilities in Germany, France, and Italy, and rising demand from these facilities for modern healthcare systems, Europe is predicted to develop at a considerable CAGR.
Due to the rising prevalence of chronic diseases, the expanding healthcare sector, and the significant unmet demand for advanced diagnostic systems in diagnostic centers, Asia Pacific is expected to continue to dominate the market through 2021 and grow at a higher CAGR during the forecast period of 2022–2029 in the region. This presents enormous promise for new systems in this area, as does the fact that the established base of this equipment is substantial and outdated and needs to be replaced.
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Computed Tomography (CT) Scanner Market Driver
The main causes of the rising demand for CT scanners are the rising need for early-stage detection of chronic diseases and the expanding healthcare systems in emerging nations. The need for advanced imaging technologies, like computed tomography, is expected to be considerably impacted by this together with the rising prevalence of chronic illnesses worldwide.
The main driver of the market's growth during the projection period is the rapidly expanding infrastructure of hospitals and healthcare facilities in developing nations like Brazil, India, and China. Huge public and private investments are being made in the construction of hospitals and healthcare facilities as a result of regional and national healthcare agencies' and the government's strong focus on healthcare facilities and the creation of infrastructure that meets standards. Additionally, the top hospital chains are emphasizing infrastructure development while increasing their presence in the important nations.
Computed Tomography (CT) Scanner Market Restraint
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To increase the market presence, market leaders regularly engage in developmental activities like mergers, collaborations, acquisitions, and collaboration. New government approvals, product introductions, and improvements to already-existing products have all contributed to their rise. The U.S. Food and Drug Administration granted 510(k) clearance for Carestream Health's Digital Tomosynthesis. With enhanced visibility and cross-sectional imaging capabilities, it is a cutting-edge product.
Computed Tomography (CT) Scanner Market Top Players Company Profiles
Computed Tomography (CT) Scanner Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Global Computed Tomography (CT) Scanner Market is segmented based on technology, application, modality, end-user and regions. In 2021, the oncology sector led the application sector. During the projected period, it is also expected to post a CAGR that is significantly greater than that of other segments. In 2021, the hospital sector dominated the market and had the highest revenue share (36.3%). The market share has been impacted by both the rising number of procedures performed annually and the rising number of emergency hospitals. In North America, there was a 1.57 billion US$ market for CT scanners in 2021.
|Market size value in 2021||USD 6.39 billion|
|Market size value in 2030||USD 6.7 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Computed Tomography (CT) Scanner Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Computed Tomography (CT) Scanner Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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