Global computed tomography market is estimated to be valued at US$ 7.9 Bn in 2023, and is expected to exhibit a CAGR of 6.5% during the forecast period (2023-2030).
Analysts’ Views on Global Computed Tomography Market:
Computed tomography (CT) is a diagnostic device that is used as imaging tool for diagnosing diseases, abnormality, and trauma. These scanners provides various images in the form of 3D images, 2D images, and cross sectional images. Rising usage of CT scanners for wide range of applications such as oncology, neurology and others. Thus, this offers the opportunity to various manufacturers to offer various kinds of CT scanners such as stationary and portable CT scanners.
Figure 1. Global Computed Tomography Market Share (%), By Product Type, 2023
Global Computed Tomography Market– Drivers
Increasing technological advancements by key market players: Increasing adoption of inorganic growth strategies such as technological advancement is expected to drive the market growth over the forecast period. For instance, on April 19, 2023, Kromek, a medical technology company, and Analogic Corporation, a healthcare company, collaborated to develop zinc telluride (CZT) based detector system for photon computed tomography applications in medical imaging and security systems.
Increasing product approval by regulatory authorities: Increasing approvals from the regulatory authorities such as U.S. Food and Drug Administration (U.S. FDA) is expected to drive the global computed tomography market growth over the forecast period. For instance, in December 2020, the U.S. Food and Drug Administration approved Ga 68 PSMA-11, manufactured by Telix Pharmaceuticals Limited., a biotechnology company, for Positron Emission Tomography (PET), which was developed for patients with suspected prostate cancer metastasis. Ga 68 PSMA-11 is a radioactive diagnostic agent. Moreover, in the U.S., prostate cancer is the third most common form of cancer.
Figure 2. Global Computed Tomography Market Share(%), By Region, 2023
Global Computed Tomography Market- Regional Analysis
Among region, North America is estimated to hold a dominant position in the global computed tomography market over the forecast period. North America is estimated to hold 45.3% of the market share in 2023. The global computed tomography market is expected to witness significant growth in the near future due to increasing diagnostic uses of CT, is contributing to the growth of the computed tomography market in North America region over the forecast period. For instance, on September 22, 2021, Shanghai United Imaging Healthcare Co., Ltd., an advanced medical imaging and radiotherapy equipment manufacturer, announced that the U.S. Food and Drug Administration had approved uCT ATLAS, an ultra-premium CT scanner with z-axis coverage of up to 16 cm and up to 640-slices per rotation. The uCT ATLAS has features like Z-Detector architecture, workflow innovations, and low dose capabilities.
Computed Tomography Market Report Coverage
|Base Year:||2022||Market Size in 2023:||US$ 7.9 Bn|
|Historical Data for:||2018 to 2022||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||6.5%||2030 Value Projection:||US$ 12.3 Bn|
GE Healthcare, Koninklijke Philips N.V., NeuroLogica Corporation, Neusoft Medical Systems Co. Ltd., Hologic, Carestream Health, Toshiba, Analogic, Arineta Ltd., Eaton, Siemens Healthineers AG, FUJIFIM Corporation, Kromek, Shanghai United Imaging Healthcare Co., Ltd., Lumafield, Xoran Technologies and Koning Corporation
|Restraints & Challenges:||
Global Computed Tomography Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of things from one place to another.
During the COVID-19 pandemic, various symptoms such as respiratory issues were observed in patients as it is a highly transmissible acute respiratory disease which is caused by severe acute respiratory syndrome (SARS). Chest CT has a major role in the diagnosis and detection of complications caused by coronavirus disease. This is expected to drive the global computed tomography market growth over the forecast period. For instance, according to a study published by The Radiological Society of North America (RSNA) on October 23, 2020, COVID-19 indicates that several chest CT images indicated common symptoms in COVID-19 patients, regarding Chest CT that included ground-glass opacities, bilateral abnormalities, posterior predilection, vascular enlargement, and lower lobe involvement. This procedure helped in providing urgent medications to patients to avoid the spread of infection in the chest.
Global Computed Tomography Market Segmentation:
Global computed tomography market is segmented into product type, application, end user and region.
Global Computed Tomography Market- Cross Sectional Analysis:
Among product type, the stationary CT scanners segments is dominant during the forecast period in North America region due to the adoption of inorganic strategies such as agreements over the forecast period. For instance, in November 2022, Koninklijke Philips N.V., a medical technology company, signed an agreement with The Lyon University Hospital, which has been equipped with Spectral CT 7500 scanner. Under the terms of agreement, Koninklijke Philips N.V., provide the Lyon University Hospital with the latest state-of-the-art imaging solutions and facilitate joint research. Installed in the hospital’s imaging center, the use of this ground-breaking spectral CT imaging solution will help confirm Lyon University Hospital as a center of excellence in the management of cardiac and pulmonary disease, for which the Spectral CT 7500 is ideally suited.
Global Computed Tomography Market : Key Developments
Global Computed Tomography Market: Key Trends
Global Computed Tomography Market: Restraint
Global Computed Tomography Market - Key Players
Major players operating in the global computed tomography market include GE Healthcare, Koninklijke Philips N.V., NeuroLogica Corporation, Neusoft Medical Systems Co. Ltd., Hologic, Carestream Health, Toshiba, Analogic, Arineta Ltd., Eaton, Siemens Healthineers AG, FUJIFIM Corporation, Kromek, Shanghai United Imaging Healthcare Co., Ltd., Lumafield, Xoran Technologies and Koning Corporation.
Definition: Computed tomography (CT) is a diagnostic device that is used as imaging tool that helps in diagnosing diseases, abnormality, and trauma. These scanners create various images in the form of 3D images, 2D images, and cross sectional images, which study the internal injuries, complicated tissues or abnormalities, which help in taking early prevention measures to avoid further health risk. The major advantage of computed tomography is the ability to scan bone, blood vessels, and soft tissue at the same time.
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