Computed Tomography (CT) Market - Growth, Trends, and Forecast (2019 - 2024)

The Global Computed Tomography (CT) Market is segmented by Type (Low Slice, Medium Slice, and High Slice), Application, End User, and Geography

Market Snapshot

Computed Tomography (CT) Market 1
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The major factors for the growth of the global computed tomography (CT) market include the rising geriatric population and increase in incidences of chronic diseases, increase in the shift of medical care toward image-guided interventions, and technological advancements.

The burden of chronic diseases is on the rise across the world, 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. According to the estimates of World Health Organization (WHO), non-communicable diseases (NCDs) account for 63% of all deaths (36 million out of 57 million global deaths) and 80% of the deaths occur in low- and middle-income countries. Cancer, cardiovascular diseases, diabetes, chronic kidney diseases, and respiratory diseases were the primary causes of death. The global cancer burden is expected to increase by 70% in the next two decades. Tobacco use, physical inactivity, alcohol consumption, and unhealthy diets create a risk of death from the aforementioned non-communicable disease. To prevent the impact of chronic diseases on individuals and society, research is being carried out for the early detection of such disorders. The access to technology and relative cost of CT procedures, as compared to other modalities, make it a preferred choice of imaging. CT scan is being increasingly used to diagnose these diseases, which is also increasing its demand.

Scope of the Report

As per the scope of the report, computed tomography (CT) is an imaging process that customizes special X-ray equipment to generate a sequence of exhaustive images, or scans, of areas inside the body. Also called computerized axial tomography (CAT) scanning, it is primarily used in cancer diagnosis. The market is segmented by type, application, end user, and geography.

By Type
Low Slice
Medium Slice
High Slice
By Application
Oncology
Neurology
Cardiovascular
Musculoskeletal
Other Applications
By End User
Hospitals
Clinics
Diagnostic Services
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Oncology Segment by Application is Expected to Account for Largest Market Share during the Forecast Period

Oncology deals with the diagnosis and treatment of tumors and cancers, while cancer is one the leading causes of morbidity and mortality. Among both sexes, lung, breast, and colorectal cancers are among the most common cancers in the world, with lung cancer alone contributing to more than 13% of the total cases diagnosed.

The global cancer burden is increasing, and thus, there is a rise in the usage of imaging modalities for the diagnosis of the diseases. According to the World Cancer Research Fund, in 2018, there were an estimated 18 million cancer cases around the world, out of which, 9.5 million cases were in men and 8.5 million in women. Lung and breast cancers were the most common, globally, and contributed to 12.3% of the total number of new cases that were diagnosed in 2018. Colorectal cancer was the third-most common cancer, with a prevalence of 1.8 million new cases in 2018, according to the World Cancer Research Fund. The increasing cancer burden is due to a number of factors, including population growth and aging, and the changing prevalence of certain causes of cancer is linked to social and economic development. Cancer is also associated with lifestyles. As CT scans are relatively less expensive, as compared to other imaging modalities, hence the segment is expected to witness a healthy CAGR over the forecast period.

Computed Tomography (CT) Market 2

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North America Accounted for the Largest Share in the Global Market

North America is found to hold a significant share in the computed tomography (CT) market, and it is expected to show a similar trend over the forecast period, without substantial fluctuations. The market growth in the United States can be attributed to the rising geriatric population. As the population ages, more cancer and chronic diseases are likely to be identified. With the increasing image-guided radiotherapy (IGRT) for image guidance, the CT market is forecast to grow at a steady pace. Also, patients seek more precision in the ability to target and treat cancers, which is aiding the market growth in the United States. In the United States, hospitals are fronting increased patient flow per CT scanner. The utilization per CT scanner at services that are not affiliated with hospitals is decreasing; about 20% more in hospitals when compared to other services. Also, recent advancements have also increased the use of CT scans in various diseases. In November 2016, Toshiba (Canon Medical Systems Corporation) introduced its first system that improves image quality with significant noise reduction, while reducing radiation dosage.

Computed Tomography (CT) Market 3

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Competitive Landscape

The global computed tomography (CT) market is a consolidated market, owing to the presence of a few major players in the market. The major market players, such as Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers, hold a significant market share in the industry. Most of the market players are focusing on bringing technologically advanced products in the market to acquire the maximum market share.

Major Players

  1. Canon Medical Systems Corporation
  2. GE Healthcare
  3. Hitachi Healthcare Systems
  4. Koninklijke Philips NV
  5. Siemens Healthineers

* Complete list of players covered available in the table of contents below

Computed Tomography (CT) Market 4

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Geriatric Population and Increase in Incidences of Chronic Diseases

      2. 4.2.2 Increase in Shift of Medical Care Toward Image-guided Interventions

      3. 4.2.3 Technological Advancements

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Adequate Reimbursement

      2. 4.3.2 Stringent Regulatory Framework

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Low Slice

      2. 5.1.2 Medium Slice

      3. 5.1.3 High Slice

    2. 5.2 By Application

      1. 5.2.1 Oncology

      2. 5.2.2 Neurology

      3. 5.2.3 Cardiovascular

      4. 5.2.4 Musculoskeletal

      5. 5.2.5 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Clinics

      3. 5.3.3 Diagnostic Services

      4. 5.3.4 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East & Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East & Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Canon Medical Systems Corporation

      2. 6.1.2 Fujifilm Holdings Corporation

      3. 6.1.3 GE Healthcare

      4. 6.1.4 Hitachi Healthcare Systems

      5. 6.1.5 Koning Corporation

      6. 6.1.6 Koninklijke Philips NV

      7. 6.1.7 NeuroLogica Corporation

      8. 6.1.8 Neusoft Medical Systems Co. Ltd

      9. 6.1.9 Shenzhen Anke High-Tech Co.

      10. 6.1.10 Siemens Healthineers

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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