CT Scanner Market Share, Size, Trends, Industry Analysis Report, By Type (Stationary and Portable); By Technology; By Architecture; By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM1685
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global CT scanner market was valued at USD 6.87 billion in 2023 and is expected to grow at a CAGR of 7.10% during the forecast period.
The market has experienced significant growth and demand compared to pre-pandemic levels because of the covid-19 pandemic. The epidemic has raised the global need for CT scans in the healthcare industry. The growing demand for CT scans around the globe is also partly due to a rising incidence of chronic disorders, including cancer, cardiovascular, neurologic, and orthopedic problems.
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According to the National Centre for Biotechnology Information (NCBI) reports, there has been a significant increase in cancer cases globally, with many new cases registered in the United States. Consequently, the need for CT scanners is further increased by the rising prevalence of cancer and other chronic disorders.
Computed tomography is a widely used medical imaging system important in diagnosing and treating various diseases. The advancements in healthcare technology and the increasing prevalence of chronic diseases have fueled the demand for more advanced imaging systems, including CT scanners.
Major market players in the CT scanner market are continuously developing technologically advanced products to gain a competitive advantage. These advancements include the introduction of higher slice CT systems, which enhance image quality, reduce scanning times, and eliminate stitching artifacts. However, only a few players provide technologically advanced high-slice and application-specific CT scanners.
One significant application of computed tomography is cardiac imaging, particularly coronary computed tomography angiography (CTA). This technique has become increasingly popular among physicians for evaluating medical complications related to the cardiovascular segment.
Key market players are launching technologically advanced products to maintain a competitive edge. For example, Hitachi recently introduced its newly designed Scenario 64-slice CT scanner, which focuses on reducing radiation dose and providing better support for interventionists in their practice. This product launch helps Hitachi strengthen its product portfolio in the competitive CT scanner market.
Industry Dynamics
Growth Drivers
Technological advancements play a pivotal role in driving the growth of the CT scanner market. The developments have significantly improved the image quality, offering more precise and detailed diagnostic data. Enhanced image quality enables healthcare professionals to detect and diagnose various diseases and conditions more effectively, increasing the demand for CT scans.
Furthermore, technological advancements have led to faster scanning times and improved workflow efficiency. This means that healthcare sectors can accommodate more patients and increase their throughput, ultimately driving the utilization of CT scanners.
Additionally, advancements such as reduced radiation dose, enhanced patient comfort, and increased automation have contributed to the overall acceptance and popularity of CT scans among patients and healthcare professionals. The demand for CT scanners is growing as a result of these considerations.
Moreover, technological advancements often lead to cost reductions and improved cost-effectiveness of CT scanners, making them more accessible to healthcare providers. This accessibility fosters wider adoption of CT scanners in developed and developing regions, further propelling the market growth.
Report Segmentation
The market is primarily segmented based on type, technology, architecture, application, and region.
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By Type |
By Technology |
By Architecture |
By Application |
By Region |
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O-arm Scanner Segment is Anticipated to Exhibit the Highest Growth Rate over the Projected Period
The O-arm scanner segment is anticipated to exhibit the highest growth rate during the forecast period. This growth can be attributed to several factors driving the demand for O-arm systems. Firstly, more scanner operations are being performed, leading to a higher demand for O-arm scanners in healthcare facilities.
Additionally, the market is witnessing a greater acceptance of novel solutions, with healthcare providers recognizing the benefits and advantages of O-arm systems. Moreover, introducing new products in the O-arm category further fuels the market growth, as these advancements provide improved features and functionalities. Overall, these factors contribute to the rapid expansion of the O-arm scanner market segment.
Oncology Market Segment is Projected to Witness Significant Revenue Growth over the Projected Period
The oncology market segment is projected to witness significant revenue growth. This growth can be attributed to several factors, including the increasing incidence of various cancer types, such as breast, lung, blood, and colorectal cancers. There is a growing demand for effective scanner solutions that aid in the early prevention and detection of cancer. Cancer Research UK has predicted a substantial rise in cancer cases globally, reaching approximately 27.5 million by 2040 if the current trend continues. This rising prevalence of cancer underscores the need for advanced scanner technologies in the oncology market segment.
North America Dominated the Global Market in 2022
The North America market is expected to hold a significant global revenue share over the projected period. This can be attributed to several factors, including a large patient demographic suffering from diseases, patients' preference for advanced technologies, the presence of other chronic conditions, well-established manufacturers developing advanced scanners, and the adoption of advanced technologies for the treatment of critical illnesses.
The Asia Pacific region is projected to be the fastest-growing regional market during the study timeframe. This growth is driven by increasing privatization in the healthcare industry, a population increase accompanied by an increase in lifestyle diseases, supportive measures from governments, a rapidly growing number of hospitals, and a growing economy. China and India are the largest contributors to the scanner market in this region, primarily due to their significant investments in healthcare infrastructure.
Due to limited budgets for investing in new medical imaging equipment like CT scanners, there is an increasing demand for cost-effective and efficient diagnostic solutions in developing countries like India and China. These factors contribute to the growth of the scanner market in the Asia Pacific region.
Competitive Insight
Some of the major players operating in the global market include Accuray, Canon Medical Systems, Carestream Health, Inc., CurveBeam, GE Healthcare, General Electric Company, Hitachi Medical Corporation, iCRco, Inc., Koning Corporation, Koninklijke Philips, Medtronic Inc., NeuroLogica Corp., Neusoft, Planmed Oy, Samsung, Shenzhen Anke High-Tech, Siemens AG, United Imaging Technologies, and Xoran Technologies, LLC.
Recent Developments
- In May 2020, Fujifilm Corporation introduced an innovative AI-based technology to detect lung nodules. This technology utilizes artificial intelligence algorithms to analyze chest CT scans and diagnose lung cancer.
- In January 2020, Carestream Health received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Digital Tomosynthesis product. This clearance signifies that the product meets the FDA's requirements and regulations. The Digital Tomosynthesis technology by Carestream Health offers improved visibility and cross-sectional imaging capabilities, enhancing the quality and accuracy of medical imaging.
CT Scanner Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 7.34 billion |
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Revenue forecast in 2032 |
USD 12.67 billion |
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CAGR |
7.10% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Type, By Technology, By Architecture, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Accuray, Canon Medical Systems, Carestream Health, Inc., CurveBeam, GE Healthcare, General Electric Company, Hitachi Medical Corporation, iCRco, Inc., Koning Corporation, Koninklijke Philips, Medtronic Inc., NeuroLogica Corp., Neusoft, Planmed Oy, Samsung, Shenzhen Anke High-Tech, Siemens AG, United Imaging Technologies, and Xoran Technologies, LLC. |
FAQ's
The global CT scanner market size is expected to reach USD 12.67 billion by 2032.
Key players in the CT scanner market are Accuray, Canon Medical Systems, Carestream Health, Inc., CurveBeam, GE Healthcare.
North America contribute notably towards the global CT scanner market.
The global CT scanner market is expected to grow at a CAGR of 7.0% during the forecast period.
The CT scanner market report covering key segments are type, technology, architecture, application, and region.
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