Computed Tomography (CT) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Computed Tomography (CT) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Computed Tomography (CT) Market was valued at USD 6732.96 million in 2020, and it is expected to reach USD 9518.97 million by 2026, registering a CAGR of 5.76% 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.

Key Market TrendsThe 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.

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.

Competitive Landscape

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.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Canon Medical Systems Corporation
Fujifilm Holdings Corporation
GE Healthcare
Shimadzu Corporation
Koning Corporation
Koninklijke Philips NV
Neusoft Medical Systems Co. Ltd
Siemens Healthineers
CareStream Health
Planmeca Group (Planmed OY)
Hitachi Healthcare Systems
Stryker Corporation

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