USD 4.29 billion
Computed Tomography Market Size, Share, Growth Analysis, By Type(Low slice, medium slice, and high slice), By Application(Oncology, neurology, cardiovascular, musculoskeletal), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2438 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
65
|Figures:
75
Computed Tomography Market Insights
Global Computed Tomography Market size was valued at USD 4.29 billion in 2022 and is poised to grow from USD 4.60 billion in 2023 to USD 8.09 billion by 2031, at a CAGR of 7.3% during the forecast period (2024- 2031).
The market's growth is fueled by an increasing prevalence of chronic diseases, an aging population, and the demand for early and accurate diagnoses. Advancements in technology, including the development of high-resolution and low-dose CT systems, further contribute to market expansion by improving image quality and reducing radiation exposure.
Moreover, the incorporation of AI and machine learning algorithms for image analysis adds a layer of sophistication to diagnostics. However, challenges such as high installation and maintenance costs, along with concerns about radiation exposure, need to be addressed. As the healthcare industry embraces technological progress and strives for improved patient outcomes, the Global CT Market remains at the forefront of medical innovation, reshaping diagnostic approaches and treatment strategies.
US Computed Tomography Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
high slice
Fastest Growth
medium slice
Growth Rate
7.3% CAGR
Global Computed Tomography Market ($ Bn)
Country Share for North America Region (%)
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Computed Tomography Market Segmental Analysis
The computed tomography market is segmented on the basis of type, application, end user, and region. By type, the market is categorized into low slice, medium slice, and high slice. On the basis of application, it is divided into oncology, cardiovascular, neurology, musculoskeletal, and others. Depending on the end user, it is categorized into Hospitals and Clinics, diagnostic centers, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Computed Tomography Market Analysis By Type
Within the dynamic realm of the Computed Tomography (CT) Market, the segmentation by type paints a vivid canvas of innovation and precision. Among these distinct categories, the largest segment gleams resplendently in the form of High Slice CT Scanners. Commanding a significant share, these scanners redefine the landscape of medical imaging with their ability to capture intricate details of the human anatomy. High slice CT scanners offer unparalleled diagnostic accuracy, making them indispensable tools for intricate procedures, such as cardiac imaging and oncology assessments. Their capacity to provide comprehensive insights into complex anatomical structures and disease progression solidifies their dominance within the market.
Concurrently, the fastest-growing star emerges within the Medium Slice CT Scanners segment, showcasing a remarkable compound annual growth rate exceeding 6%. This ascent is rooted in the sweet spot between diagnostic capability and radiation exposure, striking a harmonious balance that appeals to both healthcare providers and patients. Medium slice CT scanners are sought after for their versatility, catering to a wide range of clinical applications while maintaining a reasonable radiation dose. As healthcare trends veer towards patient-centric care and optimized diagnoses, the Medium Slice CT Scanners segment is poised to ascend, sculpting a future where technology-driven precision converges with patient well-being within the Global CT Market.
Computed Tomography Market Analysis By Application
Within the captivating narrative of the Computed Tomography (CT) Market, the segmentation by application type unfurls a tale of medical ingenuity and transformative diagnostics. Among these distinct domains, the largest segment radiates with vitality in the form of Oncology. Commanding a substantial share, oncology applications illuminate the path towards early detection and precise assessment of cancerous growths. The remarkable diagnostic capabilities of CT scanners in visualizing tumors, staging malignancies, and monitoring treatment responses underscore their pivotal role in oncology care, rendering them indispensable tools within the market.
Concurrently, the fastest-growing narrative unfurls in the Neurology segment, soaring with a compelling compound annual growth rate exceeding 7%. This ascent is rooted in the intricacies of the human brain and the quest for advanced imaging techniques. CT scanners, equipped with their ability to offer intricate insights into neurological structures and anomalies, emerge as catalysts for enhanced diagnoses and treatment planning. As the medical community sharpens its focus on neurology, driven by rising neurological disorders and the pursuit of improved patient outcomes, the Neurology segment emerges as a beacon of growth, unraveling the mysteries of the brain while reshaping the landscape of the Global CT Market.
Global Computed Tomography Market By Type
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Computed Tomography Market Regional Insights
Amidst the Global Computed Tomography (CT) Market's vibrant tapestry, two distinct regional narratives stand out, each weaving a unique tale of innovation and progress. Dominating the landscape with unwavering authority is North America, where the market's pulse resonates with resounding vigor. This region's dominance is etched by cutting-edge healthcare infrastructure, robust research capabilities, and a fervent commitment to pushing medical boundaries. North America's penchant for technological advancement propels its commanding presence, shaping it as a nucleus of CT innovation, catering to the evolving needs of patients and practitioners alike.
Simultaneously, the fastest-growing narrative unfolds within the Asia-Pacific, akin to a sunrise of endless potential and rapid growth. With a compound annual growth rate surpassing 8%, this region emerges as an incubator of transformative medical progress. Asia-Pacific's surge is a confluence of factors—rising healthcare investments, increasing patient awareness, and burgeoning research activities. As nations within the region embrace CT technology to enhance diagnostic accuracy and patient care, the Asia-Pacific emerges as a dynamic arena of expansion, radiating hope and promise across the landscape of the Global CT Market.
Global Computed Tomography Market By Region
- Largest
- Fastest
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Computed Tomography Market Dynamics
Computed Tomography Market Drivers
Advancements in Imaging Technology
- The relentless evolution of imaging technology, including higher-resolution scans, improved image reconstruction algorithms, and reduced radiation exposure, is a key driver. These advancements enhance diagnostic accuracy and patient safety, making CT scans more effective and attractive for both patients and healthcare providers. The continuous push for innovation in imaging technology fuels the adoption of CT scanners, as they become indispensable tools for a wide range of medical applications.
Computed Tomography Market Restraints
Radiation Exposure Concerns
- Despite advancements in reducing radiation dose, concerns about radiation exposure during CT scans remain. Patients and healthcare professionals alike emphasize the need to balance the benefits of accurate diagnosis with potential radiation risks. This concern can influence patient decisions and lead to discussions about alternative imaging methods or personalized dose optimization strategies, impacting the adoption rate of CT scans, especially in vulnerable patient groups.
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Computed Tomography Market Competitive Landscape
The competitive landscape of the Global Computed Tomography (CT) Market is a dynamic tapestry woven with innovation, technological prowess, and a relentless commitment to advancing medical imaging. Esteemed industry leaders and agile newcomers converge in a spirited pursuit to redefine diagnostic precision and patient care. Established giants leverage their extensive research and development capabilities to introduce state-of-the-art CT scanner technologies that cater to diverse medical needs. Simultaneously, emerging players bring fresh perspectives, focusing on niche applications and novel imaging methodologies.
Computed Tomography Market Top Player’s Company Profiles
- Siemens Healthineers AG (Germany)
- GE Healthcare (USA)
- Canon Medical Systems Corporation (Japan)
- Philips Healthcare (Netherlands)
- Hitachi, Ltd. (Japan)
- Samsung Medison Co., Ltd. (South Korea)
- Neusoft Corporation (China)
- Toshiba Corporation (Japan)
- Shimadzu Corporation (Japan)
- Carestream Health, Inc. (USA)
- Hologic, Inc. (USA)
- Fujifilm Holdings Corporation (Japan)
- Konica Minolta, Inc. (Japan)
- Planmed Oy (Finland)
- CurveBeam LLC (USA)
- Medtronic plc (Ireland)
- Ziehm Imaging GmbH (Germany)
- Varian Medical Systems, Inc. (USA)
- Allengers Medical Systems Ltd. (India)
- Mediso Ltd. (Hungary)
Computed Tomography Market Recent Developments
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In December 2023, the COMBINE-CT public-private partnership was awarded a EUR 6.5 million grant from the Innovative Health Initiative to enhance the finding and treatment of patients with coronary artery disease.
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On June 2023, another innovation called "augmented whole-body scanning via magnifying PET" (AWSM-PET) was presented at the 2023 Society of Nuclear Medicine and Molecular Imaging Annual Meeting. This innovative technology upgrades the picture goal and framework responsiveness of clinical entire-body PET/CT imaging. AWSM-PET uses practical high-goal add-on finders that examine a patient at the same time during a standard entire-body PET output, further developing imaging capacities.
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On April 28, 2023, GE HealthCare signed an agreement with Axim Life Isotopes South Africa (ALISA) to upgrade atomic imaging in South Africa. They will deliver two cyclotrons one year from now, which produce radioisotopes utilized in atomic imaging scans. These cyclotrons will extend South Africa's ability to create imaging tracers, helping clinicians diagnose, treat, and observe illnesses. The radioisotopes delivered by Cyclotrons are utilized in PET scans to recognize cancer progression and survey treatment viability.
Computed Tomography Key Market Trends
- AI-Powered Image Analysis and Automation: A notable trend within the CT market is the integration of artificial intelligence (AI) and machine learning (ML) algorithms to enhance image analysis and streamline workflows. AI-powered software is being developed to assist radiologists and healthcare professionals in detecting abnormalities, segmenting organs, and even predicting disease outcomes based on CT scans. These algorithms can significantly reduce interpretation time and improve diagnostic accuracy, ultimately leading to more efficient patient care. As AI technology continues to advance, its integration into CT imaging is poised to reshape the diagnostic process and improve patient outcomes.
Computed Tomography Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, The Computed Tomography (CT) Market presents a dynamic landscape characterized by continuous technological advancements and a growing emphasis on precise and efficient diagnostics. With applications spanning from oncology to cardiovascular care, CT scanners have become indispensable tools in modern medical practice. The market's growth is propelled by factors such as the rising prevalence of chronic diseases, increasing awareness of early diagnosis, and the integration of cutting-edge imaging technologies. High-resolution scans, AI-powered image analysis, and dose optimization strategies are shaping a future where diagnostic accuracy and patient safety coexist. However, challenges such as high equipment costs, radiation exposure concerns, and the need for specialized training may influence market adoption. As healthcare providers seek to elevate patient care through innovation, the CT market stands at the forefront of transforming medical imaging, paving the way for improved outcomes and precision in disease detection and management.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.29 billion |
| Market size value in 2031 | USD 8.09 billion |
| Growth Rate | 7.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Computed Tomography Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Computed Tomography Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Computed Tomography Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Computed Tomography Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Computed Tomography Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Computed Tomography Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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