Computed Tomography Market Set to Witness an Uptick during 2019 to 2026



The global computed tomography market size is expected to reach USD 9.1 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.5%. Increasing burden of chronic disorders, such as cardiovascular diseases and cancer, and high demand for effective imaging tools are the factors driving growth. In addition, increasing demand for computed tomography (CT) systems in emergency care departments is expected to be a major driver during the forecast period.
The longer incubation period of SARS-CoV is a huge restriction for early diagnosis and effective treatment for the ongoing pandemic. Preliminary screening of suspected patients by CT can reveal lung damages at the early stages. This has a significant impact in the developing countries where tests/million population ratio is lower. Recent trends of makeshift hospitals and temporary screening centers are expected to fuel the demand for portable and mobile CT scanners. We are working to account for this surge in our estimates. The updated report will account for Covid-19 as a key market contributor.
Advanced technology with features such as dose management systems, ability to diagnose tumors through motion (4D), and high-end material differentiation is expected to replace the existing conventional devices. Increasing number of favorable reimbursement policies by government as well as private entities are also expected to drive the CT market at a lucrative pace.
Establishment new screening guidelines in 2011 by NCCN Lung Cancer Screening Panel is expected to have a positive impact on market growth. CT scan is considered as an effective imaging tool and it is required through the lung cancer detection and treatment process to the comparative study of images to monitor the effectiveness of medication prescribed.
The leading players in computed tomography market include Canon Medical Systems Corporation, FUJIFILM Corporation, General Electric Company, Hitachi, Ltd., Koning Corporation, Koninklijke Philips NV, NeuroLogica Corp, Neusoft Corporation, Siemens Healthcare GmbH, Shenzhen Anke High-Tech Co. These players are focusing on growth strategies, such as product launches, innovations in the existing product, and mergers & acquisitions. For instance, In March 2019, Siemens Healthineers received USFDA approval for the launch of their product called SOMATOM Force, that has dual source and dual detectors technology coupled with 4D imaging with minimum radiation exposure.
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Growing demand for ambulatory diagnostic centers due to improving affordability and increasing reach of CT scanners to remote regions is expected to aid further growth. Moreover, the inability of alternative imaging technologies to provide quick reports and at the same time be cost-effective boosts growth. These devices and this technology is also routinely upgraded, which is expected to further increase demand over the forecast period.
Further key findings from the report suggest:
·         High end and mid end slice CT segments held a significant share in of the computed tomography market. The increasing demand for advance technology with enhanced imaging quality and the shifting focus on providing quality healthcare services has contributed to this growth.
·         Based on end use, hospital captured largest revenue share in 2018. Large patient pool and high demand for CT scanners as a diagnostic tool during treatment are expected to contribute toward the growth of this segment.
·         North America dominated the CT market in 2019. High adoption of advanced technology and presence of a large number of market players are some of the factors that can be attributed to this share.
·         Asia Pacific is expected to grow at the fastest rate over the forecast period. Growing demand for advanced imaging techniques and rising number of diagnostic imaging centers are some of the factors driving regional growth.
·         Major players in the industry are focusing on launch of advanced technology and features such as artificial intelligence enabled, dual source detector technology based CT scanners.
The global computed tomography (CT) market size was valued at USD 5.53 million in 2018 and is projected to expand at a CAGR of 6.5% by 2026. Growing prevalence of various lifestyle associated chronic diseases such as cancer and cardiovascular conditions and increasing demand for advanced imaging solutions are some of the factors expected to drive the overall market growth.
CT scans are critical diagnostics tool especially for lung cancer and traumatic brain injuries. CDC reported that in 2013, more than 2.8 million people visited emergency department in U.S. for traumatic brain injuries. CT scans are the only option to assess the condition during emergency brain trauma. Increasing demand for advanced assessment tools in emergency department, and growing number of ambulatory emergency care units are the factors expected to have positive impact on the CT market growth.
According to NCBI, more than 70 million CT scans are performed in U.S. and 5 million in U.K every year with an annual increasing rate of 10%, signifying the growth potential of CT in overall medical imaging market. Steep rise in the applications of CT scans and growing trends of using CT scans for effective lung cancer screening are expected to boost the demand for CT scanners in developed as well as developing countries. Growing applications of CT also extend in dentistry to detect teeth decay and to assess infection in surrounding areas.
Introduction of technologically advanced devices, and development of accessories to enhance image quality obtained by conventional CT scanners are the major factors expected to fuel the market growth. Introduction of advanced cone beam computed tomography (CBCT) systems is expected to be the major factor widening the applications of CT in modern diagnostic imaging. Dual source and artificial intelligence enabled CT scanners are expected to be important milestones in the market growth. ClariPi Inc received FDA clearance for its artificial intelligence enabled CT scanner called “ClariCT.AI” in June 2019.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-computed-tomography-ct-market
Grand View Research has segmented the computed tomography market on the basis of technology, application, end use:
Computed Tomography Technology Outlook (Volume in ‘000 Units; Revenue, USD Million, 2015 - 2026)
·         High end slice
·         Mid end slice
·         Low end slice
·         Cone beam
Computed Tomography Application Outlook (Revenue, USD Million, 2015 - 2026)
·         Oncology
·         Neurology
·         Cardiology
·         Vascular
·         Musculoskeletal
·         Others
Computed Tomography End-use Outlook (Revenue, USD Million, 2015 - 2026)
·         Hospitals
·         Diagnostics imaging center
·         Ambulatory imaging center
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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