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The global computed tomography (CT) scanners market size was valued at USD 6.62 billion in 2022 and is projected to grow from USD 6.95 billion in 2023 to USD 10.19 billion by 2030, exhibiting a CAGR of 5.6% during the forecast period.
The increasing prevalence of chronic diseases, including cardiovascular, cancer, neurology diseases, and orthopedic disorders, have led to a large patient pool undergoing computed tomography scans globally. According to the report published by the National Center for Health Statistics, in 2021, 1,898,160 new cases of cancer were registered in the U.S. Thus, the increasing prevalence of cancer across the globe is driving the demand for computed tomography scanners during the forecast period.
Computed tomography is a medical imaging system widely used in healthcare facilities for diagnostic and therapeutic purposes. The rising prevalence of chronic diseases and recent developments in the healthcare sector fuel the demand for advanced imaging systems, including computed tomography systems.
This, combined with increasing technological advancements in computed tomography, drives market growth during the forecast period.
Significant Rise in Demand for Computed Tomography Scanners to Increase Scanning Capacity during COVID-19
The emergence of COVID-19 has impeded the demand for CT scanners due to the rise in adoption of these imaging equipment for the management and diagnosis of patients suffering from coronavirus. Key players operating in the market recorded a significant increase in their revenues due to the COVID-19 pandemic. The increase in production and rise in chronic illness as the modality utilization in diagnosing patients with COVID-19 are some major parameters driving the growth of these imaging equipment during the pandemic.
However, during 2020, hospitals and diagnostic centers purchased CT scanners more than expected due to increased demand for these equipment for the management of COVID-19 patients. Thus, a significant decline in demand of these equipment was observed during 2021. Moreover, decline in number of COVID-19 patients undergoing diagnostic imaging across healthcare centers further limited the computed tomography scanners market growth in 2021.
Technological Advancements in Computed Tomography Scanners to Boost Market Growth
The introduction of technologically advanced computed tomography scanners is one of the major factors stimulating market growth. The major players operating in the market are continuously involved in developing technologically advanced products. These systems have significantly reduced the time of hospitalization and improved cancer diagnosis. In recent years, advances in CT scanning technology include removal of harmful radiations to patients, increased speed, and improved image quality.
The major market players are introducing technologically advanced products in the market. After introducing 64 Slice CT systems, key market players invented higher slice CT systems to enhance image quality, reduce scanning times, and eliminate stitching artifacts, among other functions.
Currently, only a handful of players operating in the market are providing technologically advanced high-slice products. Some players are offering application-specific products in the market. Among all, cardiac imaging is one of the major applications of CT scanners. CT angiography (CTA) is becoming popular in physicians to evaluate medical complications related to the cardiovascular segment.
Key players are launching technologically advanced products to gain a competitive advantage over other players. For instance, In April 2021, Hitachi, Ltd. announced a newly designed Scenaria 64-slice CT scanner. The product focuses on the reduction of dose, efficient radiation, and catering to interventionists in their practice. The product launch provides Hitachi with strengthening its product portfolio in a competitive market.
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Increasing Prevalence of Chronic Disorders to Propel Market Growth
The increasing demand for early-stage diagnosis of chronic diseases and the developing healthcare infrastructure in emerging countries are the major factors responsible for the growing demand for CT scanners. This, along with the increasing prevalence of chronic disorders globally, is projected to significantly impact the demand for advanced imaging systems, including computed tomography.
According to the British Heart Foundation, in 2021, an estimated 7.6 million people in the U.K. were suffering from cardiovascular diseases. The growing number of patients suffering from chronic disorders is expected to present a large patient pool undergoing imaging procedures. This is anticipated to spur the demand for computed tomography systems during the forecast period.
Rapidly Developing Hospital and Healthcare Infrastructure in Emerging Countries to Support Demand for CT Scanners
The rapidly developing infrastructure of hospitals and healthcare facilities in emerging countries such as Brazil, India, and China is the major driving factor for the growth of the market during the forecast period.
A strong focus of regional and national healthcare agencies and government toward healthcare facilities and development of an at-par infrastructure is leading to huge investments from the public and private sectors in the development of hospitals and healthcare facilities. Also, the leading hospital chains are expanding their presence in the key countries and focusing on infrastructure development.
The developing healthcare infrastructure in these countries, is focusing on the increasing number of hospital beds to cope with the increasing demand. Thus, the rapid development of healthcare infrastructure, combined with the growing prevalence of chronic diseases, and emphasis on early diagnosis, is leading to higher demand for medical imaging equipment in the global market. This demand is further supplemented by the strong R&D focus of market players leading to the introduction of new and technologically advanced equipment.
High Maintenance and Installation Cost of the Scanners to Hinder Market Growth
The high maintenance and installation cost of equipment is one of the major factors to hamper the global computed tomography scanners market share during the forecast period. For instance, according to an article published by Excedr in June 2023, a 16-Slice computed tomography system's estimated acquisition cost is USD 285,000 to USD 360,000. The maintenance cost of a 16-slice basic scanner is around USD 60,000 per year, and the average maintenance cost of a high-end 128 Slice scanner is about USD 250,000. The high annual maintenance cost makes it unaffordable for small-sized healthcare facilities.
This, combined with a large and regulated refurbished equipment industry, especially in developing countries such as China, Brazil, Chile, Mexico, and India, has limited the adoption of new and innovative products due to the high capital required for the latest devices.
Major international players and some domestic players have entered into this lucrative segment and offer refurbished equipment at affordable prices to healthcare facilities globally. The health care facilities prefer low-cost refurbished products over new products that are expected to hinder the market growth during the forecast period.
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Robust Product Portfolio of Low-slice Products to Augment the Demand
The global market is segmented into high slice, mid slice, low slice, and Cone Beam Computed Tomography (CBCT) based on technology.
The low slice segment held a dominant market share in 2022. This segment’s growth is primarily driven by the increasing use of low slice scanners in emerging countries along with the established and strong product portfolio of market players along with the new product launches of the low slice segment in the global market.
The technological advancements in low-slice scanners and low pricing compared to high-end devices have been instrumental in augmenting the demand for low-slice products across the world.
However, the CBCT segment is anticipated to grow at a considerable CAGR during the forecast period. Increasing applications of CBCT systems in dental, ENT, orthopedics, and interventional radiology are anticipated to drive the demand for CBCT products globally.
Prevalence of Cancer is Boosting Growth of Oncology Segment
The market is segmented into orthopedics, cardiovascular, oncology, neurology, and others in terms of application.
The oncology segment dominated the application segment in 2022. It is also anticipated to register a comparatively higher CAGR than other segments during the forecast period. Computed tomography systems are widely used to detect tumors and other cancer medical abnormalities. Globally, the increasing prevalence of cancer and the number of applications of CT scanners in cancer diagnostics are the major factors responsible for the growth of this segment.
The cardiovascular segment is anticipated to project a significant CAGR during the forecast period due to the global increase in geriatric population and increasing prevalence of cardiovascular diseases among the general population.
Rising Adoption of Innovative Products is driving Growth of O-arms Segment
The market is segmented into o-arms, and c-arms in terms of the modality.
The o-arms segment held the largest market share in the modality segment in 2022. The increasing volume of CT scan procedures, rising adoption of innovative products, and new product launch in this segment drive o-arm systems demand.
The c-arms segment is anticipated to grow significantly due to increasing adoption of c-arms in interventional surgical procedures due to its open architecture and easy patient access. The emphasis of key players on receiving approvals from the regulatory bodies for introducing new products to the market contributes to the segment's growth during 2023-2030.
Hospitals and Ambulatory Surgical Centers (ASCs) Segment to Dominate Due to Established Healthcare Sector in Developing Countries
The market is segmented into hospitals and ambulatory surgical centers (ASCs), diagnostic imaging centers, and others based on end-user.
The hospitals and ambulatory surgical centers (ASCs) segment held the largest market share in the end-user segment in 2022. The well-established healthcare sector in developed regions, the growing number of hospitals in developing countries, and increasing number of CT imaging examinations at hospitals and ambulatory surgical centers (ASCs), further augmented the segment growth during the forecast period.
Diagnostic imaging centers are anticipated to grow with a significant growth rate due to growing awareness about CT scans among the population, and increasing number of diagnostic centers with technologically advanced devices across developed countries.
Asia Pacific Computed Tomography (CT) Scanners Market Size, 2022 (USD Billion)
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On the basis of region, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The market size in Asia Pacific stood at USD 2.40 billion in 2022 and is anticipated to grow at higher CAGR during the forecast period of 2023-2030 due to increasing incidence of chronic diseases, developing healthcare sector, and strong unmet need for advanced diagnostic systems in diagnostic centers. This, along with a large and aging installed base of these equipment requiring replacement, offers huge potential for new systems in this region.
North America held second highest share of global market in 2022. The increasing number of patients undergoing diagnostic imaging procedures in the region and the rising adoption of technologically advanced products are propelling the market's growth in this region.
Europe is anticipated to grow at a significant CAGR due to increasing awareness about chronic disorders, the presence of well-established healthcare facilities in Germany, France, and Italy, and increasing adoption of advanced devices for diagnostic imaging across these countries.
Latin America is anticipated to hold a comparatively lower share of the market due to low healthcare expenditure in the region.
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The rapidly developing healthcare sector and hospital network in the Middle East & Africa are providing favorable conditions for the market's growth during the forecast period.
Extensive Distribution Network, Strong Portfolio, and Stout Brand Presence of Major Players to Consolidate Market
The competitive landscape of the global market is consolidated. The market is dominated by major players such as Siemens Healthineers AG, GE Healthcare, Koninklijke Philips N.V., and Canon Medical Systems Corporation. The top four players held around 65-70% market share in 2022. Robust product portfolios, new product launches, a strong brand image, and a wide distribution network in many countries are primarily responsible for the dominance of these players in the global market. Moreover, rising emphasis of major players on acquisitions, and collaborations for expansion of existing product portfolio across developing countries further augmented their market share.
Other key players such as Hitachi, Ltd., Neusoft Medical Systems Co., Ltd., and Carestream Health have also introduced innovative and technologically advanced systems, including portable systems in the market.
An Infographic Representation of Computed Tomography (CT) Scanner Market
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The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, technology types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth and advancement of the market in recent years.
CAGR of 5.6% from 2023-2030
Value (USD billion)
By Technology, Application, Modality, End-User, and Geography
Fortune Business Insights says that the global market size was USD 6.62 billion in 2022 and is projected to reach USD 10.19 billion by 2030.
In 2022, the market value stood at USD 2.40 billion.
Growing at a CAGR of 5.6%, the market will exhibit steady growth over the forecast period (2023-2030).
The low slice segment is expected to be the leading segment in this market during the forecast period.
The increasing prevalence of chronic diseases is one of the major factors driving the market growth.
GE Healthcare, Siemens Healthineers AG, and Koninklijke Philips N.V. are the major players in the global market.
Asia Pacific dominated the market share in 2022.
The introduction of innovative products by market players is expected to drive the adoption of these devices globally.
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