Global CT market size to reach USD 8.61B by 2027

As per our report, the global CT market size was valued at USD 6.9 billion in 2022, and this value is further estimated to be growing at a CAGR of 4.54% from 2022 to 2027 and worth USD 8.61 billion by 2027.

The rising number of COVID-19 cases has raised the demand for CT scanners, which is projected to impact the CT market positively. For instance, in June 2020, the Abu Dhabi Health Services Company (SEHA) in the United Arab Emirates installed a 16-slice mobile CT scanner to identify pneumonia in COVID-19 patients, demonstrating that CT scanners are being used to identify COVID-19 in emerging nations. In the diagnosis and subsequent therapy of COVID-19 patients, the CT examination was a useful auxiliary tool. CT scans can help lower the risk of false-negative results in the RT-PCR assay. As a result of these findings, the country’s demand for CT scans grew during COVID-19. Governments worldwide are enacting policies to prevent COVID-19 transmission, which is lowering demand for imaging that is not affected by COVID-19. Hospitals’ efforts to increase crisis capacity limit the quantity of proper medical imaging that may be safely conducted.

CT scans are regarded as the most important diagnostic tool, particularly in the case of lung cancer and traumatic brain injuries. Y-O-Y growth in the prevalence of these disorders is fueling the CT market expansion. Other market drivers include the aging population, the rise in chronic diseases, the change in medical care to image-guided interventions, and technology improvements.

The High slice CT scanner also helps minimize scan time, enhance patient throughput, lower radiation doses, and provide images with greater detail and fewer artifacts. Advanced imaging, such as in cardiovascular tests, is also desired. Patients with arrhythmias, fast heart rates, obesity, and children, on the other hand, benefit from high-slice systems, which are speedier and have a more significant imaging area. Most crucially, the High slice CT is also faster because no film images need to be produced. Radiologists can use computers to enhance images further to discover micro-calcifications that would otherwise go undetected on low and medium slice CT scans. As a result, the benefits of high-slice CT scanners may help the market grow.

In the market, there are several collaborations, partnerships, and agreements. For example, Siemens Healthineers Canada and JSCN Medical Clinic LP cooperated to open a diagnostic imaging center in Canada. Magnetic resonance imaging (MRI), computer tomography (CT), X-rays, and ultrasound will be available at the center. Various organizations’ actions are predicted to impact the market’s growth.

The growth of the global computed tomography (CT) market is further driven by an increase in the prevalence of cardiovascular diseases such as coronary heart disease, chronic diseases such as diabetes, and various types of cancer such as lung cancer, breast cancer, and head cancer, as well as an increase in the cases of infectious diseases. Furthermore, the CT scan provides 3D images of bones, which aids in better diagnosis and orthopedic surgery. As a result of the increased prevalence of orthopedic illnesses, demand for CT scanners is likely to rise. In addition, the growing need for effective and early diagnosis, the rising global prevalence of targeted diseases coupled with an aging population, increasing preference for minimally invasive diagnostic procedures, growing benefits of CT scans over other imaging modalities, and technological advancements are other significant factors driving the growth of the CT market.

However, high installation and maintenance costs, uncertain reimbursement scenarios in developing countries, and a scarcity of well-trained and skilled healthcare professionals may stymie CT market growth during the forecast period. However, the market’s expansion is hampered by a lack of adequate reimbursement and a strict regulatory environment.

Geographically, due to the rise in the elderly population and the prevalence of various chronic diseases, North America dominates the CT market worldwide, accounting for a significant amount of revenue. North America is dominated by countries such as the United States. The computed tomography (CT) market in North America is one of the largest in the world. United Imaging, a global leader in advanced medical imaging and radiotherapy equipment, announced in 2020 that it would deploy easily transportable computed tomography (CT) scanners in the US to help combat COVID-19. As a result of the COVID-19 outbreak, demand for CT scanners is projected to increase. Europe had the second most outstanding regional share of the worldwide market in terms of share. CT scanners are among the most modern, capable of producing 3D images in practically any patient, including those with more complex heart or respiratory issues. Regionally, Cardiovascular and circulatory disorders account for more than 27% of all deaths in the United Kingdom, with 7.6 million people living with heart disease. As a result, such factors are projected to impact future growth.

The Asia Pacific has the world’s fastest-growing regional market and accounts for a significant percentage of the global market. China and Japan, for example, are expected to maintain the market rising gradually. As a result, the growing elderly population leads to an increase in the burden of chronic diseases, which might boost demand for CT scans and propel the market forward.

The computed tomography (CT) business is consolidated due to the presence of a few large rivals such as Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers. These well-known companies control a sizable percentage of the market. The largest firms focus on bringing technologically novel things to market to get the most market share.

Siemens Healthineers announced the Somatom X.ceed CT scanner in May 2021 for speedy and reliable diagnostics in various clinical domains.

Canon Medical Systems Corporation announced the availability of a deployable computed tomography solution for imaging patients with viral infectious illnesses in April 2020. Market Data Forecast