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CT Scanner Market size worth over $8.7 Bn by 2026

  • Published Date: October 27, 2020

CT Scanner Market size is set to surpass USD 8.7 billion by 2026, according to a new research report by Global Market Insights Inc.

Increase in incidence of chronic diseases across the globe will accelerate the demand for CT scanner devices. CT scanners are widely known for its clinical applications in chronic diseases including cancer related to kidney, bowel, liver and lung. Cancer prevalence is rapidly increasing, that will eventually augment the demand and adoption of CT scanners.

Growing demand for less invasive technique in developed nations will foster the market growth

Rise in need for early disease diagnosis using less invasive method is increasing in the developed economies such as the U.S. and Europe. CT scan examination allows deeper insights pertaining to the texture, shape as well as size of the internal organs and enables physicians to accurately determine any abnormality if present. The examination can help in determining whether the surgery is required or not in specific situation and can help avoid the need of exploratory surgeries.

Moreover, development of computerized tomography technology allows collection of necessary data as invasive methods are often riskier compared to minimally invasive methods. However, high cost of CT scanners and availability of refurbished and used machines is expected to impede the industry growth.

Multiple advantages of O-arm architecture in CT scanner will boost the market progression

CT Scanner Market

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The O-arm segment valued at USD 3.3 billion in 2019, owing to multiple applications and advantages. Advents in technology and rising cases of spinal surgeries along with spinal implant placements will fuel the segment growth. Numerous advantages including high resolution x-ray images in real time allows the physician to monitor and make corrections immediately. Also, application of O-arm in 3D mode delivers enhanced imaging data in surgeries as compared to fluoroscopy or radiographs alone.

Browse key industry insights spread across 251 pages with 416 market data tables & 18 figures & charts from the report, “CT Scanner Market Size By Architecture (O-arm, C-arm), By Type (Portable, Stationary), By Technology (High-slice, Mid-slice, Low-slice, Cone Beam), By Application (Human [Diagnostic {Neurology, Oncology, Cardiology}, Intraoperative], Research, Veterinary), By End-use (Hospitals, Contract Research Organization, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Increasing need of portable scanners will enhance the market demand

 The portable CT scanners demand is estimated to showcase 6.5% growth rate till 2026. Portable CT scanners provide mobility from room-to-room, are lightweight and small compared to stationary, providing easy access to patient’s health. These scanners are handy for smaller clinics, hospitals, and private imaging centers for effectively managing patient’s health condition. Several manufacturers operating in the portable CT scanner industry are continuously aiming to develop innovative and effective imaging products.

Diagnostic accuracy of high-slice technology influence the industry expansion

The high-slice technology dominated more than40% of the CT scanner market share in 2019. Increase in prevalence of coronary heart diseases and rising adoption of CT scanners providing higher slice count will positively impact the market revenue. High-slice system provides faster and larger imaging area along with benefits in perfusion imaging on an account of its ability to image entire heart at once. Additionally, high-slice systems have additional perfusion applications for brain and liver imaging.

Easy scanning of internal body parts will propel the market value

 The human segment valuation was around USD 3.9 billion in 2019 led by increasing application of CT scanners in analysis, screening and treatment to create clear image of internal body parts including organs, tissues and bones. Rising prevalence of cancer and cardiovascular diseases along with growing geriatric population base susceptible to chronic conditions will augment the segment growth.

Hospital will drive the CT scanners market size

 The hospitals end-use segment is projected to expand at 6.2% CAGR through 2026 impelled by rising application in disease diagnosis and treatment as well as during surgery to navigate the procedure. Availability of advanced equipment and presence of superior healthcare professionals in hospitals makes it a preferable setting for treatment options among patients.

Rising research activities in the European region

Germany CT scanner market accounted for more than 22% revenue share in 2019. Germany has strong healthcare system in terms of infrastructure, trained staff and hospital beds. Technological advancements in portable or mobile CT scanners has resulted in accurate evaluation of critically ill and intensive care unit patients by scanning them at bedside. German healthcare system offers generous benefits such as high-level of service and good access to patient care. In addition, Germany has oldest social health insurance (SHI) system in the world.

Strategic implementation by foremost market leaders

Some of the major participants operating in the market include Accuray, Canon Medical Systems, Carestream Health, CurveBeam, GE Healthcare, Hitachi Medical, Koning Corporation, Philips, Medtronic, Neusoft, Planmed, Siemens Healthineers and others. The companies are involved into different strategic agreements such as mergers and collaborations to gain significant revenue shares in CT scanner business.

Authors: Sumant Ugalmugle, Rupali Swain