Computed Tomography (CT) Market - Growth, Trends, COVID-19 Impact and Forecasts (2021 - 2026)


Posted April 26, 2021 by manojshinde

The Computed Tomography (CT) Market is expected to register a CAGR of nearly 5.62% during the forecast period, with a revenue of approximately USD 6,127 million in 2020 and expected to reach 8,506.6 million by 2026.
 
The rising number of COVID-19 cases has ramped up the demand for CT scanners which is further expected to positively impact the market studied. For instance, in June 2020, the Abu Dhabi Health Services Company (SEHA) introduced a 16-slice mobile CT scanner in UAE for detecting pneumonia in COVID-19 patients. Thus, this indicates that hospitals are using CT scanners for the detection of COVID-19.


Some of the driving factors for the market growth are the rising geriatric population and an increase in incidences of chronic diseases, an increase in the shift of medical care toward image-guided interventions, and technological advancements. According to International Osteoporosis Foundation (IOF) 2019, one in three women and one in five men aged 50 and above will sustain osteoporosis-related fractures, and approximately 200 million people are affected worldwide, resulting in a fracture every 3 seconds.​ CT scan provides 3D images of bones and thus gives better guidance in diagnosis and surgeries for orthopaedics. Thus, with the rising burden of orthopedic disorders, the demand for CT scanners is also expected to boost.

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Key Market Trends

High-Slice Segment by Type is Expected to Observe a Healthy Growth in Computed Tomography (CT) Market

With the outbreak of COVID-19, the companies are developing new products and ramping up their production as in many places CT scanners are being used as a primary tool. In February 2020, United Imaging donated medical imaging equipment worth USD 1.4 million to hospitals in China. It installed one uCT 780 (160-slice CT scanner) and two uCT 760s (128-slice CT scanners) at the Huoshenshan Hospital.​ Furthermore, in April 2020, Canon Medical Systems introduced a deployable 160 slice computed tomography (CT) system integrated with a rapid decontamination tool to improve safety among patients and healthcare professionals.

These types of CT scanners are one of the most advanced scanners, providing 3D images virtually in any kind of patient, including those with cardiac or respiratory conditions which are more complexed as compared to other conditions.​ As per the data provided by the British Heart Foundation report, in January 2021, heart and circulatory diseases cause more than 27% of deaths in the United Kingdom about 7.6 million people are living with heart disease in the United Kingdom.​ Therefore, owing to these factors the market is expected to fuel in this segment.

North America Accounted for the Largest Share in the Coputed Tomgraphy (CT) Market

North America computed tomography (CT) is observed to hold a significant share globally. In 2020, United Imaging, a global leader in advanced medical imaging and radiotherapy equipment announced to deploy readily transportable computed tomography (CT) scanners in the United States to help in the fight against COVID-19​. Thus, rising demand and usage of CT scanners are expected due to the emergence of COVID-19.

The market growth in the United States can be attributed to the rising geriatric population. As the population ages, more cancer and chronic diseases are likely to be identified. According to the National Brain Tumor Society, in 2020, about 700,000 people in the United States are suffering from a brain tumor and around 87,000 as expected to be diagnosed with a brain tumor.​ Hence, all these factors are expected to boost market growth.

Competitive Landscape

The global computed tomography (CT) market is a consolidated market, owing to the presence of a few major players in the market. The major market players, such as Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers, hold a significant market share in the industry. Most of the market players are focusing on bringing technologically advanced products in the market to acquire the maximum market share. In February 2019, Philips introduced “Incisive CT Platform” that would aid in imaging, workflow, and lifecycle management.

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Issued By Statzy Market Research
Country India
Categories Health
Tags computed tomography ct market , computed tomography ct market forecast , computed tomography ct market share , computed tomography ct market size
Last Updated April 26, 2021