Increase in prevalence of chronic diseases, rise in demand for preventive diagnostic screening, and utilization of artificial intelligence and augmented reality drive the growth of the global computed tomography (CT) market.
PORTLAND, Ore., Jan. 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Computed Tomography (CT) Market by Type (Low Slice, Medium Slice, and High Slice), Application (Oncology, Neurology, Cardiovascular, Musculoskeletal, and Others), and End User (Hospitals & Clinic, Diagnostic Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global computed tomography (CT) industry generated $5.62 billion in 2020, and is expected to reach $9.91 billion by 2030, witnessing a CAGR of 5.7% from 2021 to 2030.
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Drivers, Restraints, and Opportunities
Increase in prevalence of chronic diseases, rise in demand for preventive diagnostic screening, and utilization of artificial intelligence and augmented reality drive the growth of the global computed tomography (CT) market. However, high cost of installation and maintenance, lack of adequate reimbursement, and stringent regulatory framework restrain the market growth. On the other hand, technological advancements present new opportunities in the coming years.
Covid-19 Scenario
- According to the Radiological Society of North America (RSNA), the chest computer tomography (CT) among people increased in 2020. The chest CT images of patients with common symptoms of Covid-19 indicated ground-glass opacities, vascular enlargement, and lower lobe involvement. This procedure raised awareness among patients for early detection of disorders and avoiding the spread of infection in the chest.
- During the Covid-19 pandemic, there has been rise in demand for computed tomography scans for detecting the infection and determining the efficacy of treatment over various disorders.
- Moreover, development activities of new computed tomography systems increased by large number of key players with advancements in technologies.
The medium slice segment to continue its leadership position during the forecast period
Based on type, the medium slice segment accounted for the highest share in 2020, holding more than two-fifths of the global computed tomography (CT) market, and is expected to continue its leadership position during the forecast period. This is due to rise in technological advancements and the detection of various diseases rise demand for CT systems. However, the high slice segment is estimated to manifest the fastest CAGR of 7.0% from 2021 to 2030, owing to the 360-degree diagnosis provided by x-ray and CT.
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The oncology segment to maintain its lead in terms of revenue during the forecast period
Based on application, the oncology segment contributed to the largest share in 2020, accounting for nearly one-third of the global computed tomography (CT) market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the neurology segment is expected to portray the largest CAGR of 7.7% from 2021 to 2030. This is due to rise in various types of cancer and increase in demand for early detection.
North America to maintain its dominance by 2030
Based on region, North America held the largest market share in 2020, contributing to more than one-third of the global computed tomography (CT) market, and is expected to maintain its dominance by 2030. This is attributed to the robust infrastructure provided for research activities and the presence of key players across the region. However, Asia-Pacific is expected to register the fastest CAGR of 7.2% from 2021 to 2030. This is due to increase in new advancements in computer tomography systems, R&D activities for new product launches, and rise in investments in the healthcare sector.
Leading Market Players
- Cannon Medical Systems Corporation
- Fujifilm Holdings Corporation
- GE Healthcare
- Koning Corporation
- Koninklijke Philips NV
- Neurologica Corporation
- Neusoft Medical Systems Co. Ltd.
- Shimadzu Corporation
- Siemens Healthineers
- Stryker Corporation
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