The global CT scanner market size was valued at USD 6.80 billion in 2022, and is expected to reach USD 11.12 billion by 2031. The market is projected to expand at a CAGR of 5.62% during the forecast period, 2023-2031. The growth of the market is attributed to rising geriatric population and increasing chronic diseases.
Computed tomography or CT scan, is a body imaging technique that generates 3D representation of a body's internal organs using tomography and digital geometry. It creates a three-dimensional image by developing two-dimensional x-rays taken along with single axis of rotation. CT scanners have replaced the number of slices per rotation as the metric for measuring results.
According to the Center for disease control and prevention in the US, the number of new cancer cases in men increased by 24% and in women by 21% in 2020 as compared to 2010. Growing need for early diagnosis and prevention of life-threatening diseases is driving the demand for proper diagnostics. CT scan is widely used to provide medical options to diagnose anomalies and injuries in the body.
Market Trends, Drivers, Restraints, and Opportunities
The COVID-19 outbreak increased the prevalence of chronic diseases worldwide, making CT scanners an essential tool in every hospital. This is driving the market.
C-arm CT instruments are used for a variety of purposes, including fluoroscopic intraoperative imaging during critical treatment & operations, as well as oncological and neurointelligent imaging. This is expected to fuel the market.
Introduction of advanced CT scanners having images in the mid-slice range are projected to boost the market.
High cost of spectral CT is anticipated to hinder the global spectral CT market expansion.
Availability of alternative methods in the global CT market is expected to pose significant challenges to the market growth.
Increasing use of IT in the medical sector to increase product consistency and quality is expected to boost the market.
Scope of the Report
The report on the global CT scanner market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Global Computed CT Scanners Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Low-slice Scanners less than 64 slices], Medium-slice Scanners [64 slices], and High-slice Scanners [more than 64 slices])
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Koninklijke Philips N.V., GE Healthcare, Toshiba Corporation, Siemens AG, Hitachi Ltd., Shimadzu Corporation, and Samsung Electronics Co., Ltd.
Market Segment Insights:
Low-slice scanners are expected to expand at a high CAGR during the forecast period
Based on types, the global CT scanner market is segregated into low-slice scanners [less than 64 slices], medium-slice scanners [64 slices], and high-slice scanners [more than 64 slices].
Significant increase in the use of low-slice scanners especially in emerging countries is estimated to drive the market. This segment is expected to grow at a CAGR of 3.2% during the forecast period. Technological advancements and low cost proved to be a boon for low-slice scanners in comparison to high-end devices. COVID-19 outbreak augmented the demand for this segment.
The US, Canada, Japan, China, and Europe are expected to grow the worldwide mid-slice segment at a CAGR 3.5%. These regional markets, which had a market size of USD 839.3 million in 2020, are projected to reach USD 1.1 million during the forecast period. The market in China is expected to expand at a rapid pace.
The market in North America is projected to hold a major market share during the forecast period
On the basis of regions, the global CT scanner market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. The market in North America held a major market share in 2016. Growth of the market in the region is attributed to rising cancer incidence and a high number of qualified healthcare practitioners.
According to the American Cancer Society, nearly 1.7 million new cancer patients were diagnosed in the US in 2015. Furthermore, the World Health Organization (WHO) estimates that 17.7 million people died from cardiovascular diseases worldwide. Early detection of diagnostic systems like CT scans is projected to reduce the prevalence of these disorders. This is expected to boost the market.
The global CT scan market has been segmented on the basis of
- Low-slice Scanners [less than 64 slices]
- Medium-slice Scanners [64 slices]
- High-slice Scanners [more than 64 slices]
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Koninklijke Philips N.V.
- GE Healthcare
- Toshiba Corporation
- Siemens AG, Hitachi Ltd.
- Shimadzu Corporation
- Samsung Electronics Co., Ltd.
Major players in the global CT scan market include Koninklijke Philips N.V., GE Healthcare, Toshiba Corporation, Siemens AG, Hitachi Ltd., Shimadzu Corporation, and Samsung Electronics Co., Ltd.
Philips announced COVID 'image booths' for safe X-ray and CT scan delivery during the pandemic on July 6, 2020. These are COVID cabins, which are modern industrial shipping containers. GE Healthcare acquired Prismatic Sensors AB, a CT image developer in November 2020. It is considered to be one of the next-generation technologies which helped GE Healthcare expand their research in the clinical space for CT scanners.