Global Computed Tomography Market - 2021-2028

Global Computed Tomography Market - 2021-2028

Market Overveiw

Computed tomography is a computerized x-ray imaging procedure in which it creates detailed images of internal organs, bones, soft tissue, and blood vessels. In this procedure, cross-sectional images are generated during computed tomography scans. Computer tomography scanning is the best method for detecting many different types of cancers and the images allow doctors to identify the presence of the tumor and determine its location and size.

Market Dynamics

The global computed tomography market growth is driven by the increase in the prevalence of cardiovascular diseases such as coronary heart disease, chronic diseases such as diabetes, increase in various types of cancer such as lung cancer, breast cancer, head cancer, increase in cases of communicable diseases such as COVID-19, rise in demand for computed tomography scan to detect the infection driving the growth of computed tomography market.

The rising geriatric population and increasing incidences of chronic diseases will drive the market growth

The rising geriatric population, increasing chronic diseases, shifting medical care toward image-guided interventions, and technological advancements are driving the growth of the market. As per the data published by the American College of Chest Physicians in July 2020, lung cancer is one of the most frequently diagnosed cancers. It accounts for 11.6% of the total cancer cases globally. Worldwide lung cancer incidents are estimated to increase by 38%, to 2.89 million, by 2030. 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. Approximately 200 million people are affected by osteoporosis worldwide, resulting in a fracture every three seconds.​ A CT scan provides 3D images of bones and helps in better diagnosis and surgeries for orthopedics. Thus, with the rising burden of orthopedic disorders, the demand for CT scanners is also expected to grow.

Many collaborations, partnerships, and agreements are also taking place in the market. For instance, in December 2020, JSCN Medical Clinic LP and Siemens Healthineers Canada collaborated to open a diagnostic imaging center in Canada. The center will be equipped with magnetic resonance imaging (MRI), computer tomography (CT), X-rays, and ultrasound. Such initiatives by various organizations are expected to influence the market's growth.

The high cost associated with computer tomography systems will hamper the market growth

However, the high cost associated with computer tomography systems installation and maintenance is expected to restrict the market growth during the forecast period.

COVID-19 Impact Analysis

The increasing number of COVID-19 cases has increased the demand for CT scanners, which is expected to impact the CT market positively. For instance, in June 2020, the Abu Dhabi Health Services Company (SEHA) launched a 16-slice mobile CT scanner in the United Arab Emirates for diagnosing pneumonia in COVID-19 patients, indicating that developing countries are using CT scanners for the detection of COVID-19. As per an article titled ‘Chest CT features and their role in COVID-19’, published in June 2020, CT examination played an important auxiliary role in the diagnosis and subsequent management of COVID-19 patients. 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 the country during COVID-19. ​Governments worldwide are adopting policy measures to reduce the transmission of COVID-19, which is further decreasing the demand for imaging independent of COVID-19. Measures taken by hospitals for expanding crisis capacity are further reducing the amount of appropriate medical imaging that can be safely performed.

Segment Analysis

The high slice system segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)

A High slice CT scanner helps reduce scan time, increase patient throughput, reduce radiation doses, and offers images with more detail and fewer artifacts. It is also preferred for advanced imaging, like in cardiovascular exams. On the other hand, patients with arrhythmias, fast heart rates, obesity, and pediatric patients are better suited for high-slice systems, which are faster and have a larger imaging area. High slice CT is also quicker as no film images need to be developed. Radiologists can further optimize images using computers to detect micro-calcifications that could be missed on low and medium slice CTs.​ Thus, the advantages of high slice CT scanners drive the market’s growth.

These CT scanners are one of the most advanced, 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, cardiovascular and circulatory diseases cause more than 27% of deaths in the United Kingdom, and about 7.6 million people in the country are living with heart diseases.​ Therefore, such factors are expected to drive the segment's growth in the forecast period.

Geographical Analysis

North America region holds the largest market share of the global computed tomography market

North America is expected to dominate the market in the forecast period. 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 had a brain tumor, and around 87,000 people are estimated to be diagnosed with it.​ Hence, the rising geriatric population is leading to a growing burden of chronic diseases, which may increase the demand for CT scans and drive the market.

According to the National Institutes of Health 2020 report, the estimated investment for cardiovascular diseases is USD 2,622 million in 2022, a significant increase from the 2021 figures of USD 2,499 million. CT rapidly creates detailed pictures of the heart and its arteries. The test can diagnose or detect plaque build-up in the coronary arteries to determine the risk of heart disease, leading to high demand for CT scans in disease management. ​The market players are focusing on growth strategies, such as product launches, innovations in the existing products, and mergers and acquisitions. For instance, in March 2019, Siemens Healthineers received the US FDA approval to launch its product, SOMATOM Force, which has a dual source and dual detectors technology, coupled with 4D imaging and minimum radiation exposure. These factors are driving the growth of the market in the region.

Competitive Landscape

The computed tomography market is highly competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Canon Medical Systems Corporation, Fujifilm Holdings Corporation, GE Healthcare, Shimadzu Corporation, Koning Corporation, Koninklijke Philips NV, Neusoft Medical Systems Co. Ltd, CareStream Health, Planmeca Group (Planmed OY), Stryker Corporation among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the computed tomography market globally. For instance, in 2017, Toshiba signed a three-year pricing agreement with Varex Imaging Corporation in order to supply CT tubes for integration into Toshiba’s CT systems.

CANON MEDICAL SYSTEMS CORPORATION

Overview: The Company develops, manufactures, sells, and serves medical equipment including diagnostic X-ray systems, magnetic resonance imaging systems, diagnostic ultrasound systems, medical testing equipment, and other related devices.

Product Portfolio:

Aquilion Precision: The world's first Ultra-High Resolution CT (UHR CT) capable of resolving anatomy as small as 150 microns, providing CT image quality with resolution typically seen only in Cath labs. The UHR detector is newly designed to provide twice the resolution when compared with today’s CT technology, with an all-new detector as well as tube, gantry, and reconstruction technologies.

Why Purchase the Report?

Visualize the composition of the global computed tomography market segmentation by body part, device part, application, end-user, and region highlighting the key commercial assets and players.

Identify commercial opportunities in the global computed tomography market by analyzing trends and co-development deals.

Excel data sheet with thousands of data points of global computed tomography market-level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global computed tomography market report would provide an access to an approximately 40+ market data table, 45+ figures, and 180 pages.

Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Computed Tomography Market– By Body Part

Abdominal and pelvic

Angiography

Cardiac

Extremities

Head

Lungs

Other body parts

Global Computed Tomography Market- By Device Part

Slice Detector

High Slice System

Mid Slice System

Low Slice System

X-Ray Source

Global Computed Tomography Market– By Application

Oncology

Neurology

Cardiovascular

Musculoskeletal

Other Applications

Global Computed Tomography Market– By End-User

Hospital

Diagnostic Centers

Others

Global Computed Tomography Market- By Region

North America

Europe

Asia-Pacific

Middle East & Africa

South America