CT Scanners Market to grow at a 5.67% CAGR through 2026

Growing prevalence of chronic diseases to drive the growth of Global CT Scanners Market in the upcoming five years, 2022-2026.

According to TechSci Research report, “Global CT Scanners Market By Slice (8-slice, 16-slice, 32-slice, 64-slice, 128-slice & above), By Modality (Fixed v/s Mobile), By Device Architecture (O-arm v/s C-arm), By Application (Cardiology, Oncology, Neurology, Others), By End Users (Hospitals, Diagnostic Centers, Others), By Region, Competition Forecast & Opportunities, 2026”, the global CT scanners market was valued at around USD7.25 billion in 2020 and is anticipated to grow at an impressive rate of 5.67% in the forecast period 2022-2026. This can be attributed to the rising awareness and demand for early diagnosis of chronic diseases which can help in better management and treatment of diseases. Moreover, the doctors prefer lesser invasive diagnostic procedures, like body scans to identify the ailment, which thereby leads to increased demand for CT scanners among end users. The global CT scanners market is bound to grow exponentially in the forecast years owing to these reasons. Due to the onset of COVID-19 and imposition of complete lockdown to mitigate the coronavirus, there has been shutdown of many manufacturing units and disruption in the supply chain, which resulted in interrupted production and lesser supply of CT scanners all around the globe. However, CT scanners market was not drastically affected by the pandemic. This is due to drastic increase in demand for effective management. and treatment, as they were shown to be effective in diagnosis of COVID-19.

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Global CT scanners market is segmented by slice, modality, device architecture, application, end users, and regional distribution. Based on slice, the market is segmented into 8-slice, 16-slice, 32-slice, 64-slice, 128-slice & above. Among these 128-slice and above is expected to grow at fastest rate with CAGR of 6.96% in the forecast period. The reason for this could be its wide application in different diseases. The 128- slice is advanced technology and has broad range of application. Additionally, 128-slice CT scan technology provides extraordinary image quality and faster scanning speed than the lower slice predecessors. Moreover, higher slices mean less space between the slices and therefore a reduction in chance of missing something necessary for diagnosis. Siemens Healthineers AG has introduced SOMATOM Definition AS CT scanner, which comes with adaptive dose shield that enables the system to adjust radiation exposure levels to serve patients of different needs and ages.

On the basis of application, the CT scanners market is segmented into cardiology, oncology, neurology, and others. Cardiology segment is expected to dominate the market with 41.24% market share by 2026. This can be ascribed to the rising number of cardiovascular diseases and requirement of early diagnosis of diseases. As per World Heart Federation, cardiovascular diseases are leading cause of death across the globe. Moreover, 31% deaths across the globe are due to cardiovascular diseases, which can attributed to the change in lifestyle and increasing rate of obesity among people.

Some of the major competitors in the market are Siemens Healthineers AG, GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Medtronic, Plc., Shimadzu Corporation, Accuray Incorporated, Hitachi Medical Corporation, Samsung Medison Co., Ltd., Carestream Health, Inc., Planmed Oy, Koning Corporation, Pointnix Co., Ltd., AB-CT – Advanced Breast-CT GmbH, Brainlab AG, among others. The companies are focusing on extensive research and development activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships. In 2017, GE Healthcare introduced an advanced dedicated cardiovascular CT scan system, namely, CardioGraphe which creates 3D images of coronaries, valves, chambers and myocardium in one heartbeat. In January 2020, Allengers Medical Systems Limited launched the first made in India 32-slice CT scanner in collaboration with Canon Medical Systems.

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“CT scanners are now commercialized and that is anticipated to boost the growth of market for O-arm CT scanners in upcoming years. Moreover, wide range applications of the O-arm CT scanners, makes them a promising sector for investments. Increasing cases of different chronic disease and increasing geriatric population is expected to drive the market. Additionally, patient inclination toward early diagnosis, which helps in better management of disease is expected to fuel the market growth during forecast period. Regionally, Asia Pacific is expected to be the highest growing market through 2026. Many new investors may invest in due to high demand in region,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Global CT Scanners Market By Slice (8-slice, 16-slice, 32-slice, 64-slice, 128-slice & above), By Modality (Fixed v/s Mobile), By Device Architecture (O-arm v/s C-arm), By Application (Cardiology, Oncology, Neurology, Others), By End Users (Hospitals, Diagnostic Centers, Others), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global CT Scanners Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global CT Scanners Market.

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