Europe CT Market Size

Europe CT Market Analysis

The Europe CT Market size is estimated at USD 2.19 billion in 2024, and is expected to reach USD 2.94 billion by 2029, growing at a CAGR of 6.16% during the forecast period (2024-2029).

COVID-19 significantly impacted the growth of the market over the forecast period. As per an NCBI article published in June 2021, CT examination played an important auxiliary role in the diagnosis and subsequent management of COVID-19 patients in Europe. CT scans can reduce the chance of false-negative results in the RT-PCR assay. These findings led to increased demand for CT scans in Europe during COVID-19, thereby having a significant impact on the growth of the market. Furthermore, the demand for CT in Europe is expected to remain stable due to the increased emphasis on chronic disease diagnosis during the post-pandemic period, contributing to the market's growth over the forecast period.

The significant factors for the European computed tomography (CT) market include the rising geriatric population and increase in incidences of chronic diseases, an increase in the shift of medical care toward image-guided interventions, and technological advancements in the region. The burden of chronic diseases is on the rise across Europe, and medical imaging procedures play a crucial role in the accurate diagnosis of these diseases. Chronic diseases, such as heart disease, stroke, cancer, diabetes, obesity, and arthritis, are among the most common, expensive, and preventable of all health problems. As per the data provided in the British Heart Foundation report in August 2022, 6.4 million people are living with a heart or circulatory disease, and 12 infants are diagnosed with a heart defect. Moreover, according to the data published by the World Data Atlas, in 2021, the population aged 65 years and older was 23.6% in Italy, and this target population aged 65 years and older in Italy increased from 11.5 % in 1972 to 23.6 % in 2021, which is growing at an average annual rate of 1.47%. This increase in the aging population in the country is anticipated to suffer from chronic diseases requiring an increased rate of diagnosis, which is anticipated to drive the studied market growth over the forecast period.

Additionally, the rising product launches by various key market players are expected to contribute to the growth of the market. For instance, in November 2021, Siemens Healthcare launched a photon-counting CT scanner called Naeotom Alpha, and this system is cleared for clinical use in Europe.

However, expensive procedures and instruments and a stringent regulatory framework are expected to restrain the growth of the market.