Computed Tomography Market Forecasts to 2030 – Global Analysis By Modality (O-arms and C-arms), Technology (Low Slice (<64 Slices), Mid Slice (64 Slices), High Slice (>64 Slice) and Cone Beam Computed Tomography (CBCT)), Application, End User and By Geogr

Computed Tomography Market Forecasts to 2030 – Global Analysis By Modality (O-arms and C-arms), Technology (Low Slice (<64 Slices), Mid Slice (64 Slices), High Slice (>64 Slice) and Cone Beam Computed Tomography (CBCT)), Application, End User and By Geography

According to Stratistics MRC, the Global Computed Tomography Market is accounted for $8.82 billion in 2023 and is expected to reach $15.24 billion by 2030 growing at a CAGR of 8.1% during the forecast period. Computed Tomography is a medical imaging technology fine-grained cross-sectional pictures of the internal organs, blood arteries, bones, and soft tissues of the body. Compared to traditional X-ray imaging, it offers a more thorough perspective. CT scans are frequently used by surgeons to plan and direct difficult surgeries. It is most useful in emergency settings assessing the severity of injuries from mishaps or stressful occurrences.

According to Organization for Economic Co-operation and Development (OECD) statistics in 2021, around 84.5 million computed tomography scans were performed in U.S. in 2021.

Market Dynamics

Driver

Rising incidence of chronic diseases

Accurate diagnosis and continuous monitoring are frequently required for chronic disorders. Many chronic problems, such as cancer, cardiovascular diseases, respiratory disorders, and neurological issues, may only be diagnosed and monitored with the use of CT scans. The frequency and necessity of medical imaging, particularly cutting-edge modalities like CT scans, is rising in response to the rising prevalence of chronic illnesses. The market is expanding as a result of the increased demand for more advanced imaging technologies, such as high-resolution CT scans with complex image reconstruction and post-processing capabilities.

Restraint

High initial investment & maintenance costs

The high initial investment required to purchase and install a CT machine can be a substantial barrier to entry for smaller healthcare facilities, especially in economically disadvantaged areas. The constant upkeep and service of CT devices can be expensive in addition to the initial expenditure. This covers costs for regular calibrations, hardware repairs, and software upgrades. These factors have an effect on how innovative and competitive the CT market is. Further impeding the market's expansion are worries about technological obsolescence and limited reimbursements.

Opportunity

Increasing demand for point-of-care imaging

Point-of-care imaging brings CT scans closer to where patients are located, such as in emergency departments, intensive care units, and critical care settings. It can provide immediate imaging results, allowing healthcare providers to make quicker and more informed decisions about patient care. It improves patient outcomes and reduces patient transfers. It also enhances patient experience by reducing waiting times. This expands the potential market for CT scanners beyond traditional radiology departments.

Threat

Radiation exposure concerns

The perception of radiation risk, even if not supported by scientific evidence, can influence patient preferences and clinician decision-making. Some patients may be hesitant to undergo CT scans due to concerns about radiation. Lowering radiation dose often requires longer scan times to maintain image quality. This can affect throughput in busy radiology departments, potentially reducing the number of scans that can be performed in a given time period. Therefore, this concern hinders the market demand.

Covid-19 Impact

The COVID-19 pandemic had a significant impact on the healthcare industry. During the initial stages of the pandemic, CT scans played a crucial role in diagnosing and monitoring COVID-19 cases. Portable or mobile CT scanners gained importance during the pandemic. Also, the pandemic accelerated the adoption of telemedicine and teleradiology services. Companies in the CT scanner market focused on developing advanced features like AI-powered image analysis, improved infection control measures, and dose optimization. Thereby, the epidemic raised the investments in Computed Tomography Market.

The high slice (>64 slice) segment is expected to be the largest during the forecast period

The high slice (>64 slice) segment is estimated to have a lucrative growth. A high-slice CT scanner helps reduce scan time, increase patient throughput, reduce radiation doses, and offer images with more detail and fewer artifacts. It is also preferred for advanced imaging, like in cardiovascular exams. High-slice CT is also quicker as no film images need to be developed. Also, it provides improved resolution, improved patient comfort & safety and reduces motion artifacts & contrast dose. Thus, the advantages of high-slice CT scanners may boost the market’s growth.

The cardiology segment is expected to have the highest CAGR during the forecast period

The cardiology segment is anticipated to witness the highest CAGR growth during the forecast period, due to its detailed imaging of the heart and blood vessels. CT in cardiology provides detailed anatomical information that is crucial for diagnosis, treatment planning, and follow-up care. It is especially valuable for patients who may not be candidates for invasive procedures or for those who need precise anatomical information prior to surgery or intervention. Its evaluations, assessments and guidance for structural interventions boost the segment demand.

Region with largest share

Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing aging population and rising healthcare expenditure. Many countries in the region have been experiencing economic growth, leading to greater investments in advanced medical imaging technologies. Countries like Singapore, Thailand, and Malaysia have become medical tourism hubs in the region. Also, the adoption of advanced CT technologies, such as multi-slice and dual-energy CT scanners, has been growing in the region. Further, the rising prevalence of chronic diseases and increasing medical imaging companies are fuelling the market growth in the region.

Region with highest CAGR

North America is projected to have the highest CAGR over the forecast period. The United States has one of the largest and most advanced medical imaging markets in the world. Major global players like Siemens Healthineers, GE Healthcare, Philips Healthcare, Toshiba Medical Systems and Hitachi, have a strong presence in North America. The market for CT scanners and related technologies has been experiencing steady growth, driven by factors like an aging population, increasing prevalence of chronic diseases, and technological advancements in the region.

Key players in the market

Some of the key players profiled in the Computed Tomography Market include Siemens Healthineers, Carestream Health, Canon Medical Systems Corporation, Koninklijke Philips NV, Fujifilm Holdings Corporation, Stryker Corporation, GE Healthcare, Neusoft Medical Systems Co. Ltd, Shimadzu Corporation, Planmeca Group (Planmed OY), Koning Corporation, Toshiba Corporation, Hitachi Limited, Samsung Electronics Co Limited, Medtronic PLC, Accuray Incorporated, Pointnix Limited, Epica Medical Innovations, Imaging Sciences International LLC and Genoray Co Limited.

Key Developments

In May 2023, Royal Philips, a global leader in health technology, announced the launch of the Philips CT 3500, a new high-throughput CT system targeting the needs of routine radiology and high-volume screening programs.

In March 2023, Canon Medical announced the launch of the new 80/160-slice computed tomography scanner Aquilion Serve at the European Congress of Radiology (ECR), which allows simultaneous previews of axial, lateral and AP views

In April 2022, Medtronic announced two AccuRhythm™ AI algorithms that will be applied to LINQ II™ insertable cardiac monitors (ICM) through cloud-based updates in Europe later this spring. AccuRhythm AI applies artificial intelligence (AI) to heart rhythm event data collected by LINQ II, improving the accuracy of information physicians receive so they can better diagnose and treat abnormal heart rhythms.

Modalities Covered
• O-arms
• C-arms

Technologies Covered
• Low Slice (<64 Slices)
• Mid Slice (64 Slices)
• High Slice (>64 Slice)
• Cone Beam Computed Tomography (CBCT)

Applications Covered
• Neurology
• Orthopaedics
• Oncology
• Cardiology
• Other Applications

End Users Covered
• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers (ASCs)
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements