CT Scanners Market to Grow with a CAGR of 5.76% through 2028
Rise in the number of medical centers and laboratories and increase in
research and development expenditures is expected to drive the Global CT
Scanners Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “CT Scanners
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global CT Scanners Market stood at USD 5.98 billion
in 2022 and is anticipated to grow with a CAGR of 5.76% in the forecast period,
2024-2028. The surging demand for early and efficient diagnosis, coupled with
increased awareness among individuals regarding treatments, is anticipated to
drive market growth during the forecast period.
Moreover, the escalating prevalence of chronic
diseases such as cardiovascular, cancer, neurology, and orthopedic disorders
has led to a substantial patient pool undergoing computed tomography scans,
thereby acting as a crucial driver for the CT scanner market demand. The rising
number of risk factors, including unhealthy lifestyles and diabetes,
contributes to the incidence of heart problems, thereby impacting the necessity
for CT scanner devices. The market is experiencing significant growth due to technological
advancements and breakthroughs in medical sciences that offer enhanced
efficiency and precision.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global CT Scanners Market.”
The increasing demand for early and efficient
diagnosis, coupled with growing awareness among individuals regarding
treatments, is expected to drive market growth during the forecast period. CT
scans are the preferred and precise option for testing a patient's condition
during emergency brain trauma, making them the method of choice for medical
professionals. The rising adoption of CT scans for effective lung cancer
screening and their various end-use applications are anticipated to further
boost demand in the coming years.
The pharmaceutical/healthcare industry has been driven
towards developing accurate and efficient diagnostic tools and therapies due to
the increased occurrence of diseases, such as cancer and metabolic diseases.
With the global increase in the elderly population and disease incidence, along
with advancements in research and development (R&D), there has been a
significant surge in demand for advanced diagnostic technology. Technological
advancements in computed tomography have revolutionized the field of
radiology/imaging, with newer CT scanners offering improved speed, spatial
resolution, and dose efficiency.
The rising prevalence of chronic diseases, including
cardiovascular, cancer, neurology, and orthopedic disorders, has led to a large
number of patients undergoing computed tomography scans. This has emerged as a
critical driver for the demand in the CT scanner market. Factors such as
unhealthy lifestyle choices and diabetes contribute to the increasing number of
heart problems, further emphasizing the need for CT scanner devices.
Technological advancements play a pivotal role in
driving the growth of the CT scanner market by significantly enhancing image
quality, thereby providing more precise and detailed diagnostic data. Improved
image quality enables healthcare professionals to effectively detect and
diagnose various diseases and conditions, consequently increasing the demand
for CT scans. Furthermore, technological advancements have led to faster
scanning times and improved workflow efficiency, allowing healthcare sectors to
accommodate more patients and increase throughput, ultimately driving the
utilization of CT scanners. Additionally, advancements such as reduced
radiation dose, enhanced patient comfort, and increased automation have
contributed to the overall acceptance and popularity of CT scans among patients
and healthcare professionals. These factors have fueled the growing demand for
CT scanners. Furthermore, the versatility of CT scanners, which can be used to
image virtually any part of the body, has made them highly valuable for
cross-sectional imaging – a type of medical imaging that provides detailed
information about the structure and function of a specific area of the body.
The market growth is further supported by an increase
in the number of manufacturers of computed tomography systems. For instance, in
December 2020, Waygate Technologies, a Baker Hughes business and world leader,
launched its first high-energy computed tomography (CT) system, the Phoenix
Power scan HE. Moreover, the rise in awareness among individuals for early
diagnosis and management of diseases such as cardiovascular disorders,
neurological disorders, and musculoskeletal disorders, along with an increase
in product approvals, is expected to provide lucrative opportunities for the
expansion of the global computed tomography (CT) market during the forecast
period.
Furthermore, technological advancements often lead to
cost reductions and improved cost-effectiveness of CT scanners, making them
more accessible to healthcare providers. This increased accessibility fosters
wider adoption of CT scanners in developed and developing regions, further
propelling the market growth.
The Global CT Scanners Market is segmented into slice,
modality, device architecture, application, end user, regional distribution,
and company.
Based on application, the oncology segment dominated
the market and accounted for the largest revenue in 2022. It is projected to
exhibit the highest CAGR throughout the forecast period. The increasing
prevalence of cancer and the growing applications of CT scans in diagnosing
various types of cancers, including lumps and tumors, are the key factors
expected to drive this segment. Furthermore, the introduction of innovative
technologies, such as computer-aided detection and computer-aided diagnosis of
suspicious cancer nodules, along with assessing the risk of malignancy,
particularly in lung cancer, is anticipated to bolster growth. The software can
also accurately calibrate the captured image with biopsy outcomes, aiding in
precise diagnosis.
The neurology segment is also expected to experience
healthy growth during the forecast period, primarily due to the increasing
geriatric population. As individuals age, the burden of age-related diseases
also rises. Elderly people, whose mobility is slightly compromised with age,
are prone to falls and various types of fractures, especially hip fractures.
Moreover, there has been a global increase in sports participation in recent
years, leading to a higher incidence of ligament tears. In such cases, CT scans
serve as an effective diagnostic tool. Collectively, these factors are expected
to drive market growth.
Based on region, North America segment is expected to
grow during the forecast period. North America accounted for the largest
share in the CT Scanners market. The North American CT market holds a
significant global share due to factors such as the increasing burden of
chronic diseases like cancer and neurological diseases, the presence of a
well-established healthcare system, and heightened awareness about medical
imaging. The regional market growth is driven by the presence of numerous
market competitors and the rising incidence rate of cancer. In 2020, the
National Cancer Institute diagnosed approximately 1,806,590 new cancer cases in
the U.S. Additionally, the introduction of new technology combined with
artificial intelligence and the frequent launch of low radiating CT scans are
expected to contribute to the market's growth.
In the Asia Pacific region, the market is projected to
witness a substantial compound annual growth rate (CAGR) over the forecast
period. This growth can be attributed to developing healthcare infrastructure,
particularly in rapidly developing economies like India and China, as well as
the high adoption rate of advanced medical imaging devices. Furthermore, the
increasing prevalence of chronic disorders and the presence of local
manufacturers are expected to support market growth. For example, Siemens Healthineers
has established a new CT scanner production unit in India to meet the growing
demand for CT scanners and strengthen its market position.
Major companies operating in Global CT Scanners Market
are:
- Canon Medical Systems Corporation
- Fujifilm Holdings Corporation
- Medtronic, Plc.
- GE Healthcare
- Shimadzu Corporation
- Koning Corporation
- Koninklijke Philips N.V.
- Neusoft Medical Systems Co. Ltd
- Siemens Healthineers AG
- Carestream Health, Inc.
Download Free Sample Report
Customers can also request for 10%
free customization on this report.
“The rising prevalence of chronic diseases, caused by
factors such as smoking, alcohol consumption, unhealthy eating habits, and
sedentary lifestyles, is driving market growth. CT is widely used in the
treatment, monitoring, and diagnosis of various diseases, including cancer,
cardiovascular conditions, pulmonary issues, gastrointestinal disorders, and
musculoskeletal conditions. It can detect tumors, artery blockages, fractures,
and guide procedures like biopsies, radiation therapy, spinal surgeries, and joint
injections. Increasing awareness about accurate and early diagnosis is boosting
the demand for CT scans, which provide detailed images and aid in identifying
abnormalities and detecting diseases at early stages. Portable CT scanners have
further improved treatment processes, reducing risk and enhancing patient care.
Integration of machine learning and artificial intelligence algorithms
automates and optimizes data acquisition, improving image quality and reducing
radiation exposure. The demand for CT scans in minimally invasive and robotic
surgical procedures to screen patients pre-operatively is also driving market
growth. Significant growth in the healthcare industry, investment in advanced
CT scanner R&D, and rising demand in dentistry contribute to market
expansion.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“CT Scanners Market Segmented By Slice
(8-slice, 16-slice, 32-slice, 64-slice, 128-slice & above), By Modality
(Fixed and Mobile), By Device Architecture (O-arm and C-arm), By Application (Cardiology,
Oncology, Neurology, Others), By End Users (Hospitals, Diagnostic Centers,
Others), By Region and Competition, Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global CT Scanners Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global CT Scanners Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com