|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The computed tomography (CT) market was valued at approximately USD 6,127 million in 2020, and it is expected to reach USD 8,506.6 million by 2026, registering a CAGR of nearly 5.62% during the forecast period, 2021-2026.
The rising number of COVID-19 cases has ramped up the demand for CT scanners, which is further expected to impact the market studied positively. For instance, in June 2020, the Abu Dhabi Health Services Company (SEHA) introduced a 16-slice mobile CT scanner in the United Arab Emirates to detect pneumonia in COVID-19 patients. This indicates that hospitals are using CT scanners for the detection of COVID-19.
Some of the driving factors for the market growth are the rising geriatric population and increasing chronic diseases, the shift of medical care toward image-guided interventions, and technological advancements. According to the International Osteoporosis Foundation (IOF) 2019, one in three women and one in five men aged 50 years and above sustain osteoporosis-related fractures, and approximately 200 million people are affected worldwide, resulting in a fracture every three seconds. A CT scan provides 3D images of bones and gives better guidance in diagnosis and surgeries for orthopedics. Thus, with the rising burden of orthopedic disorders, the demand for CT scanners is also expected to rise.
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. The computed tomography (CT) market is segmented by type (low slice, medium slice, and high slice), application (oncology, neurology, cardiovascular, musculoskeletal, and other applications), end user (hospitals, diagnostic centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the market size and forecasts in value (USD million) for the above segments.
|By End User|
|Other End Users|
Key Market Trends
The High Slice Segment is Expected to Observe a Healthy Growth
With the outbreak of COVID-19, companies are developing new products and ramping up their production, as in many places, CT scanners are used as a primary tool. In February 2020, United Imaging donated medical imaging equipment worth USD 1.4 million to hospitals in China. It installed one uCT 780 (160-slice CT scanner) and two uCT 760s (128-slice CT scanners) at the Huoshenshan Hospital. Furthermore, in April 2020, Canon Medical Systems introduced a deployable 160-slice computed tomography (CT) system integrated with a rapid decontamination tool to improve safety among patients and healthcare professionals.
These CT scanners are one of the most advanced scanners, providing 3D images virtually in any patient, including those with cardiac or respiratory conditions, which are more complex than other conditions. As per the data provided by the British Heart Foundation report in January 2021, heart and circulatory diseases cause more than 27% of deaths in the United Kingdom, and about 7.6 million people are living with heart diseases in the country.Therefore, these factors are expected to drive growth in this segment.
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North America Accounted for the Largest Share in the Computed Tomography (CT) Market
The North American computed tomography (CT) market holds a significant share globally. In 2020, United Imaging, a global leader in advanced medical imaging and radiotherapy equipment, announced its plan to deploy readily transportable computed tomography (CT) scanners in the United States to help in the fight against COVID-19. Thus, the demand for and usage of CT scanners are expected to rise due to the emergence of COVID-19.
The market growth in the United States can be attributed to the rising geriatric population. As the population ages, more cancer cases and chronic diseases are likely to be identified. According to the National Brain Tumor Society, in 2020, about 700,000 people in the United States were suffering from a brain tumor, and around 87,000 people are expected to be diagnosed with it. Hence, all these factors are likely to boost the market growth.
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The global computed tomography (CT) market is a consolidated market, owing to the presence of a few major players. The major market players, such as Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers, hold a significant share in the industry. Most of the players are focusing on bringing technologically advanced products into the market to acquire the maximum market share. In February 2019, Philips introduced the “Incisive CT Platform” that would aid in imaging, workflow, and lifecycle management.
In November 2020: GE Healthcare acquired Prismatic Sensors AB to expand its portfolio of photon-counting computed tomography technology.
In November 2020: Samsung launched BodyTom Elite and OmniTom, which are mobile whole-body and head CTs, respectively, for point-of-care imaging to determine the ideal treatment strategy for a patient.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Geriatric Population and Increase in Incidences of Chronic Diseases
4.2.2 Shift of Medical Care Toward Image-guided Interventions
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Lack of Adequate Reimbursement
4.3.2 Stringent Regulatory Framework
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value)
5.1 By Type
5.1.1 Low Slice
5.1.2 Medium Slice
5.1.3 High Slice
5.2 By Application
5.2.5 Other Applications
5.3 By End User
5.3.2 Diagnostic Centers
5.3.3 Other End Users
5.4.1 North America
184.108.40.206 United States (By Type, Application, and End User)
220.127.116.11 Canada (By Type, Application, and End User)
18.104.22.168 Mexico (By Type, Application, and End User)
22.214.171.124 Germany (By Type, Application, and End User)
126.96.36.199 United Kingdom (By Type, Application, and End User)
188.8.131.52 France (By Type, Application, and End User)
184.108.40.206 Italy (By Type, Application, and End User)
220.127.116.11 Spain (By Type, Application, and End User)
18.104.22.168 Rest of Europe (By Type, Application, and End User)
22.214.171.124 China (By Type, Application, and End User)
126.96.36.199 Japan (By Type, Application, and End User)
188.8.131.52 India (By Type, Application, and End User)
184.108.40.206 Australia (By Type, Application, and End User)
220.127.116.11 South Korea (By Type, Application, and End User)
18.104.22.168 Rest of Asia-Pacific (By Type, Application, and End User)
5.4.4 Middle-East and Africa
22.214.171.124 GCC (By Type, Application, and End User)
126.96.36.199 South Africa (By Type, Application, and End User)
188.8.131.52 Rest of Middle-East and Africa (By Type, Application, and End User)
5.4.5 South America
184.108.40.206 Brazil (By Type, Application, and End User)
220.127.116.11 Argentina (By Type, Application, and End User)
18.104.22.168 Rest of South America (By Type, Application, and End User)
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 Fujifilm Holdings Corporation
6.1.3 GE Healthcare
6.1.4 Shimadzu Corporation
6.1.5 Koning Corporation
6.1.6 Koninklijke Philips NV
6.1.7 NeuroLogica Corporation (Samsung)
6.1.8 Neusoft Medical Systems Co. Ltd
6.1.9 Shenzhen Anke High-Tech Co.
6.1.10 Siemens Healthineers
6.1.11 United Imaging Healthcare Co. Ltd
6.1.12 Analogic Corporation
6.1.13 CareStream Health
6.1.15 Planmeca Group (Planmed OY)
6.1.16 MinFound Medical Systems
6.1.17 Illinois Tool Works (North Star Imaging Inc.)
6.1.18 Hitachi Healthcare Systems
6.1.19 AB-CT – Advanced Breast-CT GmbH
6.1.20 Stryker Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Computed Tomography (CT) Market market is studied from 2018 - 2026.
What is the growth rate of Global Computed Tomography (CT) Market?
The Global Computed Tomography (CT) Market is growing at a CAGR of 5.62% over the next 5 years.
Which region has highest growth rate in Global Computed Tomography (CT) Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Computed Tomography (CT) Market?
North America holds highest share in 2020.
Who are the key players in Global Computed Tomography (CT) Market?
Canon Medical Systems Corporation, GE Healthcare, Koninklijke Philips NV, Siemens Healthineers, Fujifilm Holdings Corporation are the major companies operating in Global Computed Tomography (CT) Market.