Press Release

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.

 

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“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.

 

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