Global Computed Tomography Market Size, CT Market Research and Industry Forecast Report, 2026 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Global Computed Tomography Market


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.

Similarly, in March 18, Siemens received 510k clearance for its Dual Source CT scanner, an innovative technology that emits negligible amount of radiation producing high quality image quality within few seconds specifically suitable for pediatric patients and eliminates the need of holding breath during thorax scan.

Technology Insights of Global Computed Tomography Market

Based on technology, the CT market is segmented into high, mid, low end slice and CBCT. High end slice (more than 64 slices) and mid end slice (64 slices) is expected to grow at a lucrative CAGR over the forecast period. Increasing incidence of cardiovascular disorders and demand for accurate diagnostic imaging solutions are the factors expected to drive the segment growth.

High end slice technology has comparatively 80% less radiation exposure than mid end slice technology (64 slices) with a 16 cm imaging area helping in accurate diagnosis. High end slice devices deliver detailed images in obese patients, the only factor expected to restrain the growth of this segment is high cost of the high-end slice technology. However, with improving healthcare infrastructure and improving financing ability would help in overcoming the restrain.

CBCT is expected to grow at the speediest rate over the forecast period. Compact size, low radiation exposure, and low cost compared to conventional CT are some of the advantages associated with the technique. Ability of CBCT for 3D evaluation of the maxillofacial region has led to their increasing demand in dentistry. Growing applications of CBCT is expected to propel overall CT market during the forecast period.

End Use Insights

In terms of end-user, the global computed tomography market is segmented into hospitals, diagnostics imaging center, and clinics. Hospital segment accounted for the largest market share in 2019. Increasing number of emergency admissions in hospitals and the growing number of surgeries performed each year has contributed to the market share. Moreover, CT scans serves as an effective tool of accurate diagnosis pre-operative and post-operative to determine the effectiveness of the treatment.

The difficulty and risk associated in transportation of critical-ill patients from hospital to a third party diagnostics center for CT scans, has forced the hospitals to establish their own CT scans machine contributing to the growth of this market.

Ambulatory diagnostics centers are expected to grow at speediest rate over the forecast period. According to the OECD statistics, there is an approximate 14% increase in the total no of CT scanners per 1,000,000 inhabitants in ambulatory diagnostics centers of USA  between 2015-17. It is expected to be a revolution in the market as it makes CT scans more affordable and accessible.

Application insights

The global computed tomography market is segmented based on application into oncology, neurology, cardiology, vascular, musculoskeletal, and others. Oncology held the largest market share in 2019 and is expected to grow at a healthy CAGR over the forecast period. Increasing prevalence of cancer and growing applications of CT scans in diagnosis various types of cancers including lumps and tumors are the factors expected to drive the segment growth.
Introduction of innovative technologies including computer aided detection and computer aided diagnosis of suspicions cancer nodules and accessing the risk of malignancy especially in lung cancer is expected to boost the growth. The software can additionally calibrate the captured image with biopsy outcome helping in accurate diagnosis.

Neurology and Musculoskeletal segments are also expected to grow at a healthy rate over the forecast period because of the increasing geriatric population, as the age of a person increases parallelly the burden of disease related to their age also increases. Aged people due to their mobility being slightly compromised with age fell and develop several types of fractures, especially hip fractures. Furthermore, there has been an increasing participation of people in sports activities globally over years and one of the most common type of injuries they sustain is ligament tears and CT scan is an effective tool in such cases. All these factors are comprehensively expected to drive the growth of this market.

Regional Insights of Global Computed Tomography Market

North America holds the largest market share owing to the increasing ageing population and prevalence of chronic disorders and is expected to remain the largest market over the period, but the market is expected to witness a decrease in the number of CT scans performed over years to come because of the increasing awareness about risk of radiation exposure. So, unless the health benefits are greater than the risk associated with CT scans physicians dont suggest going for computed tomography has led to the significant decrease in CT scans in 2017.

Europe accounted for the second largest market share in computed tomography market in 2019. Increasing incidence of lung cancer in the European countries accounting for almost 20% of total cancer is expected to drive the growth, as CT is a critical tool in Lung cancer imaging. Furthermore, the introduction of new technology combined with artificial intelligence and frequent launch of low radiating CT scan and is expected to aid to this growth
Asia Pacific is also anticipated to grow at significant CAGR over the forecast period, due to large unmet needs coupled with developing healthcare infrastructure especially in the rapidly developing economies such as India and China. Furthermore, the presence of major market players and suppliers, prevalence of chronic disorders and increasing presence of several insurance companies funding for CT scans is expected to aid the market growth in the region.
Computed Tomography Market Share Insights

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.

p2 Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global computed tomography market report on the basis of technology, application, end use and region:

Technology Outlook (Revenue in USD Million and Volume in ˜000 Units, 2019 - 2030)

  
High end slice
  
Mid end slice
  
Low end slice
  
Cone beam (CBCT)

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Oncology
  
Neurology
  
Cardiology
  
Vascular
  
Musculoskeletal
  
Others

End-use Outlook (Revenue, USD Million; 2019 - 2030)

  
Hospitals
  
Diagnostics imaging center
  
Ambulatory imaging center