Global CT Scanner Market Is Expected to Reach USD 8.9 billion by 2028 : Fior Markets
Fior Market Research LLP
8 min read
CT Scanner Market by Type (Portable, Stationary), By Application (Research, Human, Veterinary), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
Newark, NJ, Nov. 03, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global CT scanner market is expected to grow from USD 5.9 billion in 2020 and to reach USD 8.9 billion by 2028, growing at a CAGR of 5.4% during the forecast period 2021-2028.
CT scan also known as computed tomography. This sort of advanced X-ray equipment can produce detailed pictures of interior organs. Anatomic features of interior organs that are not visible on traditional X-rays can be seen via a CT scan. After travelling through the body, the X-ray tube rotates swiftly around the patient, and the X-rays impact multiple detectors. These detectors are linked to powerful computers, which process the pictures and create images. A CT scanner has a significantly higher radiation dosage than a traditional X-ray, but the information collected from a CT scan is typically far more. The diagnostic imaging business has seen major technical improvements in computed tomography during the previous decade, including the introduction of low-dose and automated CT scanners. These gadgets provide patients and surgeons with great picture quality, better spatial resolution, and reduced radiation exposure. These modern CT scanners feature a streamlined console, are simple to use, and can be installed in a small space for a low cost.
Growing need for effective and early diagnosis and rising global prevalence of targeted diseases are the common factors driving the global CT scanner market. Furthermore, an ageing population, increasing preference for minimally invasive diagnostic procedures along with the increasing benefits of CT scans over other imaging modalities are the other important aspect contributing towards the growth of the market. Technological advancements in different industrial and healthcare sector is also one of the major factor driving the growth of this market. The growing number of COVID-19 cases has increased demand for CT scanners, which is likely to have a favourable influence on the market under consideration. The use of computed tomography in the management of Covid-19 is likely to boost market growth, as the CT scan has been an important tool in the management and diagnosis of covid-19 patients. The growing number of CT scanners may provide advantageous market circumstances during the coronavirus outbreak. However, the decreasing number of cancer and cardiology operations during the pandemic is adversely impacting the demand for computed tomography equipment, resulted into slowing the market's development. Also, high installation and maintenance costs, an unclear reimbursement environment in emerging countries, scarcity of well-trained and competent healthcare personnel may stifle the CT scanner market's expansion throughout the projected period.
Accuray Incorporated, Toshiba Corporation, Hitachi Ltd., GE Healthcare, Medtronic Plc, Siemens AG, Carestream Health, Inc., Koninklijke Philips N.V., Neusoft Corporation, Samsung Electronics Co. Ltd., Shenzhen Anke High-Tech Co. Ltd. and Shimadzu Corporation are some of the major players in the market.
For instance, GE Healthcare acquired Prismatic Sensors AB in November 2020 to broaden its range of photon-counting computed tomography technologies.
Samsung released the BodyTom Elite and OmniTom, which are mobile whole-body and head CTs for point-of-care imaging to select the best treatment plan for a patient, in November 2020.
Stationary segment dominated the market and held the largest market share of 60.7% in the year 2020
On the basis of type, the global CT scanner market is segmented into portable and stationary. The stationary segment dominated the global CT scanner market and accounted for 60.75% of the market share in the year 2020. The majority of the market share may be ascribed to the widespread use of stationary CT scanners in a variety of applications. The development of portable CT scanners, on the other hand, has steadily grabbed market share from stationary CT scanners, and portable CT scanners are expected to expand significantly throughout the forecast period.
Human segment dominated the market and held the largest market share of 40.5% in the year 2020
On the basis of application, the global CT scanner market is segmented into research, human, veterinary. The human segment held the largest market share of global CT scanner market accounting for 40.5%in the year 2020. The demand for human application of CT scanner is being driven by an increase in market demand for intraoperative surgical operations and the growing prevalence of chronic illnesses. Diagnostic applications like cardiology, cancer, neurology, and other diagnostic applications and intraoperative applications make up the human applications section. Further, the research segment is anticipated to be the fastest growing segment, owing to the rising development and advance technological enhancements in research and development sector.
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global CT scanner market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North American region held the largest market share of 25.16% in the year 2020. Market expansion is due to the United States' rising senior population. As the population ages, more cancer cases and chronic diseases are expected to be identified. As a result, all of these elements are projected to contribute to market expansion. Europe is expected to maintain the largest CT scanner market share during the forecast period, owing to growing awareness of chronic illnesses. Germany, France, and Italy have created well-developed healthcare systems that will aid Europe's development. Asia Pacific is expected to lead the global market throughout the forecast period due to the growing frequency of chronic diseases. The increasing healthcare industry in Asia Pacific, as well as the significant unmet need for advanced diagnostic equipment in diagnostic centres, will help the market.
The global CT scanner market is analysed on the basis of value (USD billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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