CT Market

Global CT Market Size (2022 to 2027)

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.

Global CT Market Share Insights:

• Based on end-user, the hospital segment dominated the market and accounted for 40.2% of the global market share in 2021. On the other hand, the imaging centers segment also had a considerable share of the global market in 2021.
• North America led the market and captured 32.4% of the global market share in 2021.
• The European region is anticipated to reach USD 2.09 billion by 2027.
• The Asia-Pacific is estimated to grow at a CAGR of 4.93% from 2022 to 2027.

CT scan also known as Computed Tomography scan, is a body imaging technique that uses tomography and digital geometry to generate a 3D image of a body's internal organs. It is a medical imaging technique used by radiographers to attain detailed internal images of the body, with almost every part, for diagnosing disease or injury and helping to plan surgical or radiological treatment. Most of these treatments involve chronic back pain or a spinal injury, requiring a CT scan to evaluate spinal fractures and assess the spine condition before and after surgical treatment. It uses two-dimensional x-rays taken around a single axis of rotation and then developed to form the 3D image. However, 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, the YOY rise in the aging population, and the 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 key factors propelling the global CT market growth. In addition, the rising pervasiveness of diseases such as cancer and 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. The high success rate in using CT scans for many procedures in various applications is responsible for driving the global CT scan market. It is used in Oncology for detecting and assessing cancer and tumors. It also helps in real-time monitoring of the success of cancer treatment, which has proven to be a valuable tool in this field. In Neurology, Alzheimer's disease, Parkinson's disease, dementia, and other movement disorders are detected by providing precise location of epilepsy surgery. It checks the exact location of live and dead heart tissue and predicts the success rate of angioplasty or bypass surgery, finding a profitable use in Cardiology.

On the other hand, technological developments and the YOY 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 crucial factor encouraging market growth. In addition, significant improvements in imaging technologies promise to enhance wellness through rapid and more accurate detection of medical conditions. Besides these, CT scans provide information about various imaging tests, such as PET, MRI, ultrasound, SPECT, or nuclear medicine, through quick acquaintance with clear and precise information images. No other imaging procedure combines all these benefits, including that a whole body or a small part can be imaged in a single session. Also, CT scans manage things more efficiently by reducing the need for exploratory surgeries, reducing hospital stay lengths, improving the placement of patients in appropriate care areas, improving cancer diagnosis and treatment, diagnosis of trauma, or abnormalities, monitoring the effectiveness of a therapy, and provide very detailed information of the body, or that particular part.

In some severe cases where surgery is the only option to stop internal bleeding, a CT scan plays a significant role in guiding the surgeons to the exact operation location. Thus, being painless and convenient, this non-invasive technique is widely available at various treatment centers, which helps in planning radiation therapy, biopsy, or other treatments, more precisely, failing which the surgeries might be highly compromised. Furthermore, compared to the benefits provided by a CT scanner, the risk of radiation exposure is minimal, which is the main cause for its wide adoption, leading to the CT market growth worldwide.

MARKET RESTRAINTS:

However, a rise in fiscal deficit may hinder the global CT market growth in developed nations. Moreover, the C.T. 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 C.T. to diagnose COVID-19. The Centers for Disease Control and Prevention (CDC) recommended 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 C.T. 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:

This research report on the global CT market has been segmented and sub-segmented into the following categories.

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. A single-slice CT scan involves only one X-ray source and a single detector. It is widely used because of its data acquisition through 180-degree rotation, involving the movement of both tube and the detector across the scan plane, through which a series of transmission measurements are obtained.

The dual-slice or multi-slice segment is anticipated to dominate the market, primarily due to its reduced amount of time and radiation exposure to the patient, depending on either design of the scanner or the way of application of the scanner.

CT Market - By Slice Type:          

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

The 6-slice CT scan is highly expected to share a significant share in the market due to its compact air-cooled gantry and an efficient full-body CT scanner, ensuring a productivity rise and ease of use.

The 16-slice CT scanner would also be dominating the market since the body images are taken much faster than other scanners by capturing multiple images in a much lesser time, a few seconds, increasing patient comfort.

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

Sixty-four slice scanners are foreseen to dominate this segment since it provides a high-resolution of all the anatomical images at every rotation in a reduced time, under 15 seconds, without increasing X-ray projections overlapping.

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 construction activities of 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
• Middle East and Africa

The North American CT market is estimated to witness a leading share of the global market during the forecast period due to the rapid adoption of advanced technology and various devices in favor of patient safety. With modern techniques, the devices allow the patient to have lower exposure to higher radiation, 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 CT market is anticipated to register the fastest CAGR 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, the U.K. and Germany are predicted to lead the European market.

The CT market in Latin America is expected to be worth USD 1 billion by 2027.

The MEA CT market is anticipated to showcase a CAGR of 4.76% from 2022 to 2027.

KEY MARKET PLAYERS:

Companies leading the Global CT market profiled in the report are G.E. 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:

• In November 2022, a leading provider of enterprise imaging solutions, FUJIFILM Healthcare Americas Corporation, launched the SCENARIO View Focus Edition computed tomography (C.T.) system, specially designed for clear capture of images with advanced features of motion correction device by simultaneously acquiring two sets of data in the scan.
• In November 2022, Sunnybrook Health Sciences Center and Bayer Inc. launched an innovative injector for computed tomography, MEDRAD Centargo CT Injector System, with the ability to get the job done quickly and with less hassle.
• In November 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.
• In March 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 are to develop a direct conversion semiconductor x-ray detector module, which is required for new photon-counting computed tomography systems (PCCT).
• In July 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.
• In September 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.