Computed tomography market to grow at a CAGR of 5.75% from 2022-27

The computed tomography market size is expected to grow by USD 2,473.86 million from 2022 to 2027, progressing at a CAGR of 5.75% as per the latest Technavio market research report. Europe is going to have lucrative growth during the forecast period. About 36% of the market’s overall growth is expected to originate from Europe. Increasing cancer rates, growing geriatric population, adoption of many advanced technological devices, ease of regulatory approval, increased number of CT scan procedures, and favorable return policy are the key factors for the growth of the market in Europe. The UK, Germany, France, Italy, and Spain are the main revenue contributors to the market growth due to the high prevalence of chronic diseases and the large number of diagnostic procedures. Market players are focusing on increasing sales by developing new products and partnering with distributors and technology providers to strengthen their presence in the market. Hence, such factors will propel the growth of the CT market in the region during the forecast period.

Computed tomography market: Increasing prevalence of chronic conditions worldwide to drive growth
CT scanners are used to diagnose serious and chronic diseases. The increasing incidence of cancer drives the need for cancer screening and diagnosis. Similarly, the growing prevalence of other chronic diseases, such as cardiovascular disease and neurological disorders, will drive the need for CT scanners. Hence, such factors will drive growth during the forecast period.

Computed tomography market: Emergence Of digital health players
Digital health companies are partnering with medical device companies to move services from volume-based to value-based. AI platforms are integrated into CT products such as CT scanners. This allows users to automate and standardize complex diagnostic processes, improve patient experience and outcomes, and reduce costs of care. Furthermore, market players like Intel Corp. (Intel) and NVIDIA Corp. (NVIDIA) entered the imaging industry. Healthcare players around the world, such as Siemens Healthineers and GE Healthcare, are developing AI-based software. Hence, the increasing adoption of AI-integrated CT scanners is expected to drive the growth of the computed tomography (CT) market during the forecast period.

Some of the key computed tomography market players:
The computed tomography market is fragmented and the companies are deploying organic and inorganic growth strategies to compete in the market. Some of the key vendors are mentioned below:

Canon Inc., FUJIFILM Corp., General Electric Co., iCRco Inc., Koninklijke Philips NV, MARS Bioimaging Ltd., MinFound Medical Systems Co. Ltd., MR Solutions Ltd., Neusoft Corp., Perkin Elmer Inc., Samsung Electronics Co. Ltd., Shanghai United Imaging Healthcare Co. Ltd., Shenzhen Anke High tech Co., Shenzhen Basda Medical Apparatus Co. Ltd., Shimadzu Corp., Siemens Healthineers AG, SternMed GmbH, Thermo Fisher Scientific Inc., Trivitron Healthcare, and Xoran Technologies LLC. Technavio