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 the end of 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 of the 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 the number of medical implant operations due to lifestyles and a growing geriatric population base may increase the demand.
On the other hand, improvements in technology 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 of 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 towards 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 globally agree that CT plays a crucial role 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 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:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2027 |
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Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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Segments Covered |
By Slice Type, Low-slice Type, High-slice Type, End Users, and Region |
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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 |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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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:
Based on the low-slice type, the single slice segment is predicted to be the leader during the forecast period in the global CT market. The rise in the number of patients suffering from chronic and infectious diseases and increasing awareness over the utilization of advanced devices are leveling up the market's growth.
CT market - By Slice Type:
CT market - By High-slice Type:
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:
Based on the end-users, 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:
Geographically, 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 the patient’s safety. With modern techniques, the devices allow the patient to have lower exposure to higher radiations, which promotes fewer side effects is enhancing the growth of the market 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 is accounting for the leading share in the global market during the forecast period owing to the increasing aging population increasing 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 expenditure on healthcare and having 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:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Low-slice type
5.1.1 Introduction
5.1.2 Single Slice
5.1.3 Dual Slice
5.1.4 Y-o-Y Growth Analysis, By Low-slice type
5.1.5 Market Attractiveness Analysis, By Low-slice type
5.1.6 Market Share Analysis, By Low-slice type
5.2 Mid-slice type
5.2.1 Introduction
5.2.2 6 Slice
5.2.3 10 Slice
5.2.4 16 Slice
5.2.5 32 Slice
5.2.6 Y-o-Y Growth Analysis, By Mid-slice type
5.2.7 Market Attractiveness Analysis, By Mid-slice type
5.2.8 Market Share Analysis, By Mid-slice type
5.3 High-slice type
5.3.1 Introduction
5.3.2 40 Slice
5.3.3 64 Slice
5.3.4 Open Versions
5.3.5 Cardiac CT
5.3.6 Y-o-Y Growth Analysis, By High-slice type
5.3.7 Market Attractiveness Analysis, By High-slice type
5.3.8 Market Share Analysis, By High-slice type
5.4 End-Users
5.4.1 Introduction
5.4.2 Hospitals and Clinics
5.4.3 Imaging Centers
5.4.4 Others
5.4.5 Y-o-Y Growth Analysis, By End-Users
5.4.6 Market Attractiveness Analysis, By End-Users
5.4.7 Market Share Analysis, By End-Users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.4 Market Attractiveness Analysis
6.1.5 Market Share Analysis
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 GE Healthcare
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Hitachi Medical Corporation
8.3 Hitachi Medical Systems America
8.4 NeuroLogica Corporation
8.5 Neusoft Medical Systems
8.6 Philips Healthcare
8.7 Shenzhen Anke High-Tech
8.8 Siemens Healthcare
8.9 Toshiba Medical Systems Corporation
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
FAQ's
As per our research report, the global CT market size is projected to value USD 8.61 billion by 2027.
Yes, we have studied and included the COVID-19 impact on the global CT market in this report.
Geographically, the North American regional market accounted for the largest share of the global CT market in 2021.
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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