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Global CT Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Low-slice Type, Slice Type, High-slice Type, End-Users and Region – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1356
Pages: 185
Formats: report pdf report excel report power bi report ppt

Global CT Market Size (2022 to 2027)

The size of the global CT market is estimated to be worth USD 6.9 billion in 2022. It is estimated to reach USD 8.61 billion by 2027, growing at a CAGR of 4.54% from 2022 to 2027.

CT scan, Computed Tomography, is a body imaging technique that uses tomography and digital geometry to generate a 3D image of a body's internal organs. It uses two-dimensional x-rays taken around a single axis of rotation and then developed to form the 3D image. CT scanners' evolution has advanced to the point where the number of slices per rotation is no longer the benchmark for performance.

MARKET DRIVERS:

The recent COVID-19 pandemic, Y-O-Y rise in the aging population, and incidence of chronic diseases are a few factors primarily accelerating the growth rate of the global CT market.

A rapid increase in demand for bedside imaging, home healthcare, and increased usage of CT scan to evaluate the efficiency of post-interventional medical procedures, medical implants, and anatomical confirmation are a few of the key factors propelling the global CT market growth. In addition, the rising pervasiveness of diseases such as cancer, orthopedic, cardiovascular, and dental disorders are also forecasted to accelerate the growth rate of the global CT market. Moreover, a perpetual increase in medical implant operations due to lifestyles and a growing senior population may increase the demand.

On the other hand, technological developments and the Y-O-Y rise in the prevalence of orthopedic diseases are anticipated to boost the global CT market growth.

The growing demand for premium healthcare infrastructure from governments is another key factor in encouraging market growth. In addition, significant improvements in imaging technologies promise to enhance wellness through rapid and more accurate detection of medical conditions. 

MARKET RESTRAINTS:

A rise in fiscal deficit may hinder the global CT market growth in developed nations.

Moreover, the CT imaging radiation dose continues to be an area of concern. Many patients and medical associations have raised this issue and raised their voices against CT scanning's possible side effects. As a result, the industry focuses on reducing exposure while ensuring the image quality of the CT Scan techniques.

Impact of COVID-19 on the global CT market:

The global CT market had positive and negative effects on the COVID-19 pandemic. Due to government lockdowns all over the globe, there was no movement for regular check-ups to hospitals. But at the same time, there was an increased inclination toward using a CT to diagnose COVID-19. The Centers for Disease Control and Prevention (CDC) recommended against routine CT scans to diagnose COVID-19 based on false-positive rates, scanner contamination, and a lack of change in individual patient management. However, Chinese medical professionals were quick and effective in controlling the disease. Professional medical organizations agree that CT is crucial in rapid identification, updated quarantining, and tailored public health models.

RT-PCR testing's slow speed and unreliable results became apparent in the early phases of COVID-outbreak only. CT Scan is far more sensitive and commonly detects cases of swab misses. However, CT's higher sensitivity and real-time results come at the cost of increased false positives. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Slice Type, Low-slice Type, High-slice Type, End Users, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

GE Healthcare, Hitachi Medical Corporation, Hitachi Medical Systems America, Inc., NeuroLogica Corporation, Neusoft Medical Systems Co. Ltd., Philips Healthcare, Shenzhen Anke High-Tech Co., Siemens Healthcare, and Toshiba Medical Systems Corporation

 

This research report on the global CT market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2027.

CT market - By Low-slice Type:           

  • Single Slice
  • Dual Slice

Based on the low-slice type, the single slice segment is predicted to be the leader in the global CT market during the forecast period. The rise in patients suffering from chronic and infectious diseases and increasing awareness of using advanced devices are increasing the market's growth.

CT market - By Slice Type:           

  • 6 Slice
  • 10 Slice
  • 16 Slice
  • 32 Slice

CT market - By High-slice Type:         

  • 40 Slice
  • 64 Slice
  • Open Versions
  • Cardiac CT

Based on the high-slice type, the 40-slice category in high slice type leads the global CT market with the most dominating share due to the growing prevalence of medical implants, adoption of sedentary lifestyles, and changes in food habits.

CT Market - By End-Users: 

  • Hospitals and Clinics
  • Imaging Centers
  • Others

Based on the end-users, the Hospitals and clinics end-user segment led the global CT market in 2020. Increasing support from the government through investments in the constructional activities of the healthcare centers and hospitals and the growing demand for quality diagnostic procedures are accelerating the growth of this segment.

CT Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

The North American regional market is estimated to witness a leading share of the global CT market during the forecast period due to the rapid adoption of advanced technology and the introduction of various devices in favor of patient safety. With modern techniques, the devices allow the patient to have lower exposure to higher radiations, which promotes fewer side effects, enhancing the market's growth in this region. Also, raising capita income in developed and developing countries is leveraging the development of the market. As a result, the U.S. is expected to rule with the most dominating share in this region, followed by Canada during the forecast period.

The Asia Pacific is following North America accounting for the leading share in the global market during the forecast period owing to the increasing aging population and risks from colon cancer. On the other hand, developing countries such as India, Japan, and China are expected to register the majority of the share in the APAC market during the forecast period.

On the other hand, the Europe CT market is predicted to grow at a healthy CAGR during the forecast period and offer lucrative growth possibilities to the market participants. Increasing healthcare expenditure and effective treatment procedures at any cost boost the market's growth rate in this region. As a result, countries such as UK and Germany are predicted to lead the European market.

KEY MARKET PLAYERS:

Companies leading the Global CT market profiled in the report are GE Healthcare, Hitachi Medical Corporation, Hitachi Medical Systems America, Inc., NeuroLogica Corporation, Neusoft Medical Systems Co. Ltd., Philips Healthcare, Shenzhen Anke High-Tech Co., Siemens Healthcare, and Toshiba Medical Systems Corporation.

RECENT MARKET DEVELOPMENTS:

  • On November 20, 2020, GE Healthcare acquired Prismatic Sensors AB, a Sweden-based developer of CT images. It is one of the next-generation photons-counting technologies in Sweden and will help the GE healthcare company expand clinical research on CT scanners.
  • On March 07, 2016, Hitachi Medical Corporation and Redlen Technologies Inc. announced to development of the Next Generation Medical Photon Counting CT system. Under this agreement, the companies to develop a direct conversion semiconductor x-ray detector module, which is required for new photon-counting computed tomography systems (PCCT).
  • On July 06, 2020, Philips listed COVID ‘imaging cabins’ for safer X-ray and CT scan delivery during the pandemic. These are the new industrial shipping containers, which are named COVID cabins.
  • On September 18, 2020, Siemens Healthineers developed imaging capabilities with attention to patient experience. As a result, Florida’s Orlando Health Orlando Regional Medical center has become the first healthcare institution in the United States to install SOMATOM X.cite, a premium single-source CT Scanner.

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FAQ's

How much is the global CT market going to be worth by 2027?

As per our research report, the global CT market size is projected to value USD 8.61 billion by 2027.

Does this report include the impact of COVID-19 on the CT market?

Yes, we have studied and included the COVID-19 impact on the global CT market in this report.

Which region led the global CT market in 2021?

Geographically, the North American regional market accounted for the largest share of the global CT market in 2021.

Which are the major players operating in the CT market?

GE Healthcare, Hitachi Medical Corporation, Hitachi Medical Systems America, Inc., NeuroLogica Corporation, Neusoft Medical Systems Co. Ltd., Philips Healthcare, Shenzhen Anke High-Tech Co., Siemens Healthcare, and Toshiba Medical Systems Corporation are some of the notable companies operating in the global CT market.

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