USD 6.76 billion
CT Scanner Market Size, Share, Growth Analysis, By Technology(High Slice, Mid Slice, Low Slice, and Cone Beam Computed Tomography (CBCT)), By Application(Orthopedics, Cardiovascular, Oncology, Neurology), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35J2086 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
66
|Figures:
68
CT Scanner Market Insights
Global CT Scanner Market size was valued at USD 6.76 billion in 2022 and is poised to grow from USD 7.15 billion in 2023 to USD 11.23 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The global CT scanner market is a dynamic and rapidly evolving sector within the medical imaging industry. Computed Tomography (CT) scanners play a crucial role in diagnosing various medical conditions by providing detailed cross-sectional images of the body's internal structures. This technology aids medical professionals in making accurate diagnoses, guiding treatment plans, and monitoring patient progress.
The market's growth is fueled by several factors. Technological advancements have led to the development of more sophisticated CT scanners, offering higher image quality, faster scanning times, and reduced radiation exposure for patients. The increasing prevalence of chronic diseases, such as cardiovascular disorders and cancer, has heightened the demand for efficient and precise diagnostic tools, further propelling the CT scanner market.
Moreover, the rising global geriatric population contributes to market expansion, as older individuals are more susceptible to health issues that require advanced imaging. Additionally, the expansion of healthcare infrastructure in emerging economies, growing awareness about early disease detection, and continuous research and development efforts by manufacturers also drive market growth.
Different CT scanner types cater to diverse clinical needs, including portable and stationary models, helical or spiral CT, and multislice CT scanners. The market is divided based on slice count, applications (diagnostics, interventional procedures, etc.), and end-users (hospitals, diagnostic centers, research institutions).
However, challenges such as high installation costs, maintenance expenses, and concerns about radiation exposure persist. Stricter regulations governing radiation safety also impact the market. Nonetheless, the demand for more accurate and efficient diagnostic tools, combined with ongoing technological innovations, is expected to keep the CT scanner market on a trajectory of continuous growth in the foreseeable future.
US CT Scanner 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
High Slice
Growth Rate
5.8% CAGR
Global CT scanner market ($ Bn)
Country Share for North America Region (%)
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CT Scanner Market Segmental Analysis
The CT scanner market is segmented by Technology, application, end-use, and region. Based on Technology the market is segmented as, High Slice, Mid Slice, Low Slice, and Cone Beam Computed Tomography (CBCT). Based on Application the market is segmented as, Orthopedics, Cardiovascular, Oncology, Neurology, Others. Based on End-User the market segmented as, Hospitals and Ambulatory Surgical Centers (ASCs), Diagnostic Imaging Centers, Others. Based on Regional the market is segmented as, North America, Asia Pacific, and Latin America.
CT Scanner Market Analysis By Application
The oncology segment took center stage in the market, commanding the largest revenue share of 26.7% in 2022 and is projected to exhibit the most rapid Compound Annual Growth Rate (CAGR) throughout the forecast period. The escalating prevalence of cancer and the expanding utility of CT scans for diagnosing various forms of cancer, encompassing growths and tumors, are the pivotal factors poised to propel this segment. The introduction of innovative technologies such as computer-aided detection and diagnosis for suspicious cancer nodules, particularly in lung cancer cases, is anticipated to further invigorate growth. These advanced software tools not only assist in identifying malignancy risk but also align captured images with biopsy outcomes, enhancing precision in diagnosis.
Simultaneously, the neurology and musculoskeletal segments are also expected to register robust growth during the forecast period. The mounting geriatric population, which faces an increased burden of age-related diseases, including neurological issues and fractures due to compromised mobility, fuels demand within these segments. Moreover, the global surge in sports participation has contributed to the prevalence of ligament tears and fractures, particularly hip fractures. In such scenarios, CT scans emerge as effective diagnostic tools. The combined effect of these factors is anticipated to comprehensively drive the growth of these market segments.
CT Scanner Market Analysis By Technology
The high-end slice category, encompassing systems with more than 64 slices, emerged as the dominant force in the market, capturing the largest revenue share of 34.8% in 2022. This supremacy can be attributed to the escalating incidence of cardiovascular disorders and the escalating demand for precise diagnostic imaging solutions. A significant advantage of high-end slice technology is its markedly lower radiation exposure, approximately 80% less compared to mid-end slice technology (64 slices), coupled with a 16 cm imaging area that enhances accuracy. High-end slice devices excel in delivering detailed images of obese patients. The primary deterrent to the growth of this segment is the relatively higher cost of such technology. However, this challenge is being mitigated by the continuous enhancement of healthcare infrastructure and improving financial capabilities.
Conversely, the Cone Beam Computed Tomography (CBCT) segment is poised to exhibit the swiftest Compound Annual Growth Rate (CAGR) over the forecast period. The compact size, reduced radiation exposure, and lower costs compared to conventional CT scanners are key advantages associated with CBCT technology. Particularly in dentistry, CBCT's ability for 3D evaluation of the maxillofacial region has driven its growing demand. The diverse applications of CBCT are anticipated to propel the overall CT market during the forecast period, showcasing the technology's growing relevance and impact across various medical domains.
Global CT scanner market By Product
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CT Scanner Market Regional Insights
As of 2022, North America secured the foremost market share at 30.4%, and this dominance is projected to persist through the forecast period. This stronghold is attributed to the region's dense concentration of market competitors and an upsurge in cancer incidence rates. Notably, the U.S. witnessed approximately 1,806,590 new cancer diagnoses in 2020, as reported by the National Cancer Institute. The continuous integration of novel technologies, incorporating artificial intelligence, and the frequent launch of low-radiation CT scans are anticipated to further contribute to the region's market growth.
Conversely, Asia Pacific is poised for noteworthy growth, projected to experience a substantial Compound Annual Growth Rate (CAGR) over the forecast period. This surge can be attributed to the ongoing development of healthcare infrastructure, particularly in burgeoning economies such as India and China. The region's high adoption rate of advanced medical imaging devices, coupled with the increasing prevalence of chronic disorders, further fuels market expansion. Notably, local manufacturers in the region are gaining prominence, bolstering market growth. For instance, Siemens Healthineers established a new CT scanner production unit in India to meet the escalating demand for CT scanners, enhancing its market positioning in the process.
Global CT scanner market By Geography
- Largest
- Fastest
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CT Scanner Market Dynamics
CT Scanner Market Drivers
Increasing Healthcare Needs:
- The growing global burden of chronic diseases and conditions, such as cardiovascular disorders and cancer, drives the demand for accurate and efficient diagnostic tools like CT scanners.
Technological Advancements:
- Continuous advancements in CT scanner technology, including higher slice counts, faster scanning speeds, and improved image quality, enhance diagnostic capabilities and attract healthcare providers to invest in new equipment.
CT Scanner Market Restraints
Radiation Exposure Concerns:
- Despite advancements in reducing radiation doses, concerns about patient exposure to ionizing radiation remain, impacting patient acceptance and demand.
Healthcare Budget Constraints:
- Economic fluctuations and budget constraints within healthcare systems can hinder investments in capital-intensive equipment like CT scanners.
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CT Scanner Market Competitive Landscape
The competitive landscape of the CT scanner market is characterized by the presence of several prominent players, each striving to establish a strong market foothold through innovation, technological advancements, and strategic collaborations. Key industry players include multinational medical equipment manufacturers and healthcare technology companies, all vying to offer cutting-edge solutions that address the evolving needs of the healthcare sector. These companies invest significantly in research and development to introduce sophisticated CT scanner models with improved imaging capabilities, reduced radiation exposure, and enhanced patient comfort. Moreover, partnerships with research institutions and healthcare providers are crucial for validating and optimizing the technology's clinical applications. Regional expansion and strategic acquisitions are common strategies for strengthening market presence. The competitive landscape is also influenced by the increasing integration of artificial intelligence and machine learning in CT imaging, enabling quicker and more accurate diagnoses.
CT Scanner Market Top Player’s Company Profile
- Koninklijke Philips NV.
- GE Healthcare
- Medtronic
- Samsung Electronics Co., Ltd
- Shenzhen Anke High-Tech Co., Ltd
- Hitachi Ltd, Koning Corporation
- Neusoft Corporation
- Shimadzu Corporation
- Canon
- Siemens AG
CT Scanner Market Recent Developments
- June 2022: Trivitron Healthcare announced plans to launch made-in-India CT-Scan and MRI systems in fiscal year 2022-23. It will be for both Indian and international markets, and it will be used for better diagnosis in remote areas too because of its smart features, cost, and portability.
- April 2022: Wipro GE Healthcare launched next-generation Revolution Aspire CT (Computed Tomography) scanner. Revolution Aspire is designed and manufactured end-to-end in India, at the newly launched Wipro GE Medical Devices Manufacturing plant, in line with the "Atma Nirbhar Bharat" initiative.
CT Scanner Key Market Trends
- Artificial Intelligence Integration: The integration of artificial intelligence (AI) and machine learning is revolutionizing CT imaging. AI-powered algorithms assist radiologists in image interpretation, lesion detection, and pathology identification, leading to quicker and more accurate diagnoses.
CT Scanner Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types 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 Global CT scanner market analysis; The CT scanner market exhibits global prominence with North America leading, holding a significant share. The market is segmented by technology, including high-end slice and CBCT scanners. High-end slice technology, with over 64 slices, dominates due to its advanced diagnostic capabilities, driven by rising cardiovascular disorders and adoption of AI-powered solutions. CBCT scanners are witnessing a rapid Compound Annual Growth Rate (CAGR) due to their compactness and lower radiation exposure, especially in dentistry. The market's growth is fueled by the increasing prevalence of chronic diseases, aging populations, technological advancements, and expanding healthcare investments. Additionally, the Asia Pacific region is poised for substantial growth, driven by improving healthcare infrastructure, high adoption of medical imaging devices, and rising local manufacturing initiatives, notably contributing to Siemens Healthiness' expansion in India.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.76 billion |
| Market size value in 2031 | USD 11.23 billion |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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 CT Scanner 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 CT Scanner 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 CT Scanner 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 CT Scanner 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 CT Scanner Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the CT Scanner 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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