Computed Tomography (CT) Market Analysis Europe, North America, Asia, Rest of World (ROW) - US, Japan, Germany, France, UK - Size and Forecast 2023-2027

Computed Tomography Market Forecast 2023-2027

The Global Computed Tomography Market is estimated to grow by USD 2.47 billion at a Compound annual growth rate (CAGR) of 5.75% between 2022 and 2027. The market is experiencing robust growth driven by several key factors. With the increasing prevalence of chronic conditions globally, there's a growing demand for advanced diagnostic imaging solutions like Computed Tomography (CT) scans. Leading companies are responding to this demand by launching innovative CT products, further propelling market growth. Additionally, the market is witnessing a surge in mergers and acquisitions, fostering competition and innovation. These dynamics underscore the pivotal role of Computed Tomography (CT) technology in modern healthcare, driving improved patient outcomes and diagnostic precision worldwide.

What will be the Size of the Market During the Forecast Period?

To learn more about this report, View Report Sample

In the healthcare industry, Advanced Technologies and Accessories for Computed Tomography (CT) play a significant role in diagnostic imaging. The market is witnessing growth due to the increasing adoption of these technologies in various medical applications. The use of Computed Tomography (CT) scans is prevalent in the detection and diagnosis of several diseases, including cancer, cardiovascular diseases, and neurological conditions. The non-invasive nature of CT scans and their ability to provide detailed images make them an essential tool for healthcare providers. The market for Computed Tomography (CT) scanners and accessories is expected to grow significantly due to the increasing demand for these technologies in healthcare settings. The market is driven by factors such as the rising prevalence of chronic diseases, increasing healthcare expenditures, and technological advancements in CT imaging. The market for Computed Tomography (CT) technologies is competitive, with major players including GE Healthcare, Siemens Healthineers, Canon Medical Systems, and Philips Healthcare. The market is also witnessing the entry of new players, making it an exciting space to watch. The use of Artificially Intelligent (AI) and Machine Learning (ML) technologies in CT imaging is a trend that is gaining traction, with the potential to revolutionize the way diagnostic imaging is performed. The market for CT technologies is expected to continue its growth trajectory in the coming years, driven by these factors and others.

Market Dynamics and Customer Landscape

In the healthcare industry, Computed Tomography (CT) technology continues to be a significant contributor to diagnostic accuracy and treatment planning. The Chronology of this technology dates back to the 1970s, with the first CT scanner developed by Godfrey Hounsfield and Allan Cormack. Since then, advancements in Cardiovascular and Orthopedic applications, as well as the use of Contrast agents, have expanded its utility. The market is thriving, driven by the need for faster, more precise diagnoses. Neurological conditions, such as stroke and brain tumors, are major indications for Computed Tomography (CT) scans. Additionally, the use of CT in Cancer diagnosis and treatment planning is on the rise. Procedures like Cardiac CT Angiography and Virtual Colonoscopy have revolutionized diagnostic processes. The Diagnosis of various conditions, from head injuries to internal injuries, is made possible through CT technology. Its non-invasive nature and ability to provide detailed images make it an essential tool in modern healthcare. The future of Computed Tomography (CT) marketing lies in continued innovation, making this technology more accessible and affordable for a wider patient population. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increasing prevalence of chronic conditions worldwide is notably driving market growth. CT scanners are used for diagnosing severe and chronic conditions. The prevalence of chronic conditions, such as cancer, cardiovascular diseases, and neurological diseases, is rising globally. This is fueling the demand for diagnostic imaging products, such as Computed Tomography (CT) scanner systems. For instance, according to the International Agency for Research on Cancer, the age-adjusted rate of new cancer cases was 19.3 million in 2020. 

The high incidence of cancer is boosting the demand for cancer screening and diagnoses. Similarly, the increasing prevalence of other chronic conditions, such as cardiovascular diseases and neurological disorders, will propel the demand for CT scanners. These factors will drive the growth of the market during the forecast period.

Significant Market Trends

The emergence of digital health players is a key trend in the market. Digital health companies are collaborating with medical device companies to shift from volume-based services to value-based services. AI platforms are being integrated with Computed Tomography (CT) products such as CT scanners. This enables users to automate and standardize complex diagnostic procedures, improve patient experience and outcomes, and reduce the cost of care.

CT scanners produce large volumes of data. The integration of AI enables healthcare professionals to increase productivity, improve accuracy, and reduce errors in diagnosis. Players such as Intel Corp. (Intel) and NVIDIA Corp. (NVIDIA) have entered the imaging industry. Global healthcare leaders, such as Siemens Healthineers and GE Healthcare, are developing AI-based software. For instance, in July 2019, Siemens Healthineers announced that it had received the US FDA approval for its AI-Rad Companion chest CT. Therefore, the increasing investments in the integration of AI with Computed Tomography (CT) scanners, the emergence of digital health players in the imaging industry, and the growing adoption of AI-integrated CT scanners are expected to support the market growth and trends during the forecast period.

Major Market Challenge

The high costs associated with CT imaging are challenging the global market growth. The high cost of CT scanners and procedures can increase the cost burden on end-users and patients. For instance, the average cost of a CT scanner ranges from USD  70,000 to USD 300,000. CT scanners require annual service maintenance. The service maintenance cost includes the cost of preventative maintenance, parts, labor charges, and technicians' allowance. This will further increase the costs incurred by end-users, such as hospitals, diagnostic centers, and clinics. 

Computed Tomography (CT) scanners are used for diagnostic purposes in fields such as oncology, cardiology, and gynecology. The average cost of a CT scan procedure is USD 50 to USD 1,500. It also includes hospital stays, facilities, and the fees of physicians and supporting staff and depends on the type of hospital setting. Therefore, the high costs associated with CT scan procedures can reduce their adoption, especially in developing countries. These factors are expected to limit the growth of the market during the forecast period.

Customer Landscape

The market trends and analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria, and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Canon Inc. - The company offers computed tomography with AI-assisted technologies such as Aquilion ONE and Aquilion Exceed LB.

The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:

• FUJIFILM Corp.
• General Electric Co.
• iCRco Inc.
• Koninklijke Philips NV
• MARS Bioimaging Ltd.
• MinFound Medical Systems Co. Ltd.
• MR Solutions Ltd.
• Neusoft Corp.
• Perkin Elmer Inc.
• Samsung Electronics Co. Ltd.
• Shanghai United Imaging Healthcare Co. Ltd.
• Shenzhen Anke High tech Co.
• Shenzhen Basda Medical Apparatus Co. Ltd.
• Shimadzu Corp.
• Siemens Healthineers AG
• SternMed GmbH

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

The Computed Tomography (CT) market has experienced significant growth in healthcare settings due to its advanced imaging capabilities. High-cost CT technology is a crucial diagnostic tool in hospitals, particularly in the Neurology and Musculoskeletal segments for neurological disorders, fractures, hip fractures, sports injuries, and ligament tears. The prevalence of cancer, especially suspicious cancer nodules, drives the demand for CT scans. Despite its benefits, healthcare infrastructure and financing ability limit widespread adoption. Technological advancements, such as compact size and low radiation exposure, make Computed Tomography (CT) scans more accessible. Computer-aided detection and diagnosis further enhance the technology's effectiveness. The Maxillofacial region also utilizes CT scans for accurate diagnosis and treatment planning. The geriatric population with age-related diseases contributes to the increasing demand for CT scans in third-party diagnostics centers and ambulatory diagnostics centers. OECD statistics indicate a growing trend in CT usage for surgeries and treatment effectiveness. In summary, the =market's growth is driven by the prevalence of cancer, technological advancements, and the need for accurate diagnosis in various healthcare segments. Despite high costs, the benefits of CT technology, such as computer-aided detection and diagnosis, make it an essential diagnostic tool.

By End-User

The market share growth by the hospitals segment will be significant during the forecast period. Hospitals are one of the main end-users of CT technology, which is used for a wide range of applications, such as cancer diagnosis, cardiovascular disease (CVD) evaluation, and trauma assessment. 

Get a glance at the market contribution of various segments View the PDF Sample

The hospitals segment was valued at USD 3.17 billion in 2017 and continued to grow until 2021. The demand for CT scans in hospitals has been growing due to several factors, such as technological advances, increasing prevalence of chronic diseases, and rising awareness among patients and healthcare providers. Multidetector CT scanners and 3D/4D imaging software help produce clearer and more detailed images of organs, which has made CT technology an essential tool for diagnosis and treatment planning. The increasing prevalence of chronic diseases, such as cancer, CVDs, and chronic respiratory diseases, is also driving the demand for CT technology. The use of CT scans is expected to grow during the forecast period, with the development of new applications and advancements in technology. 

Regional Analysis

For more insights on the market share of various regions Download PDF Sample now!

Europe is estimated to contribute 36% to the growth of the market share during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

CT technology plays a significant role in European medical care, particularly in diagnosing and treating chronic disorders such as cancer, orthopedic issues, and neurological conditions. The aging population, with over 21% aged 65 and above, increases the demand for CT scans. Technological advancements, including AI and mid-end slice technology with 64 slices and a 16 cm imaging area, enhance diagnostic capabilities. Siemens Healthineers' Somatom X and GE Healthcare's Revolution Ascend are leading CT scanners. CT scans are essential for anatomical imaging in emergency cases involving internal injuries. In addition, CT technology is used as a diagnostic tool for various conditions, including cardiovascular disorders, lung cancer screening, and dentistry-related issues like tooth decay and infection. However, radiation exposure remains a concern, necessitating continuous technological improvements. Accessories and image quality enhancements are ongoing priorities. The NCBI highlights the importance of CT scans in various medical procedures, including cancer treatment and cardiovascular disorders.

Market Analyst Overview

In the healthcare industry, Computed Tomography (CT) technology continues to play a significant role in diagnostic imaging. The market for CT scanners is expected to grow significantly due to the increasing demand for early and accurate diagnosis of various diseases. The use of Chronically Ill Patients (CIPs) and the aging population are key factors driving this growth. Orthopedic and Cardiovascular applications are major segments in the market. The use of advanced technologies such as Artificial Intelligence (AI) and Deep Learning algorithms in CT scanning is also gaining popularity. The market for these advanced technologies is projected to grow at a rapid pace. The use of CT technology in Neurology and Oncology is also increasing, with Diagnostics being a major application area.

The market for CT scanners in developing countries is expected to grow at a faster rate due to the increasing healthcare infrastructure and rising disposable income. The market for Cardiovascular and Orthopedic applications is expected to dominate the global market in the coming years. The use of CT technology in Radiotherapy and Procedural Suites is also gaining traction. The market for CT scanners is highly competitive, with major players including GE Healthcare, Canon Medical Systems, Siemens Healthineers, and Philips Healthcare.

In the realm of medical diagnostics, Computed Tomography (CT) emerges as a vital tool for assessing a range of conditions. From orthopedics to cardiovascular conditions, CT scans offer detailed insights into various anatomical structures, including bone, soft tissue, and blood vessels. In dentistry, CT technology aids in precise diagnosis and treatment planning. As a versatile diagnostics tool, CT scans provide clinicians with high-resolution images for accurate assessments. With advancements in CT technology, healthcare providers can offer patients enhanced diagnostic capabilities, leading to improved patient outcomes. The global market continues to expand, driven by growing demand for advanced imaging solutions across medical specialties.

Segment Overview

The market research and growth report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook 
  • Hospitals
  • Diagnostic centers
  • Others

• Application Outlook 
  • Oncology
  • Neurology
  • Cardiology
  • Musculoskeletal
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Australia
    • Argentina
    • Rest of the world

Market Scope
Market Report Coverage	Details
Page number	157
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.75%
Market growth 2023-2027	USD 2.47 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	5.25
Regional analysis	Europe, North America, Asia, and Rest of World (ROW)
Performing market contribution	Europe at 36%
Key countries	US, Japan, Germany, France, and UK
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Canon Inc., FUJIFILM Corp., General Electric Co., iCRco Inc., Koninklijke Philips NV, MARS Bioimaging Ltd., MinFound Medical Systems Co. Ltd., MR Solutions Ltd., Neusoft Corp., Perkin Elmer Inc., Samsung Electronics Co. Ltd., Shanghai United Imaging Healthcare Co. Ltd., Shenzhen Anke High tech Co., Shenzhen Basda Medical Apparatus Co. Ltd., Shimadzu Corp., Siemens Healthineers AG, SternMed GmbH, Thermo Fisher Scientific Inc., Trivitron Healthcare, and Xoran Technologies LLC
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

View PDF Sample

What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the size of the market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Market growth analysis across Europe, North America, Asia, and Rest of World (ROW)
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

Get in touch