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Global CT Scanners Market to Surpass USD 7 Billion by 2024

By Medimaging International staff writers
Posted on 25 Apr 2018
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Image: The global CT scanner market is expected to surpass USD 7 billion by 2024, driven by the increasing prevalence of chronic diseases, such as CV diseases and cancer, along with the rising demand for minimally invasive diagnostic tools (Photo courtesy of Toshiba Medical Systems).
Image: The global CT scanner market is expected to surpass USD 7 billion by 2024, driven by the increasing prevalence of chronic diseases, such as CV diseases and cancer, along with the rising demand for minimally invasive diagnostic tools (Photo courtesy of Toshiba Medical Systems).
The global computed tomography (CT) scanners market was valued at over USD 4.7 billion in 2016 and is expected to register a CAGR of more than 5% from 2017 to 2024 to surpass USD 7 billion by 2024. The CT scanners market is expected to be driven by the increasing prevalence of chronic diseases, such as cardiovascular diseases and cancer, along with the rising demand for minimally invasive diagnostic tools.

The use of CT scanners for surgical procedures such as biopsy, identifying epilepsy, spinal stenosis, herniated discs, encephalitis and presence of brain tumors and cysts will also drive the market growth. Additionally, growing awareness about early disease diagnosis and treatment will further drive the demand for CT scanners. Technological advancements, such as the development of portable CT scanners, addition of slices and various other features will also aid the growth of the CT scanners market. However, the availability of refurbished devices, risks associated with exposure to radiation, and the prohibitive cost of CT scanners will hamper the market growth.

These are the latest findings of Global Market Insights, Inc., (Selbyville, DE, USA), a global market research and consulting service provider.

Based on architecture, the O-arm segment dominated the CT scanners market in 2016 and will continue to maintain its leading position during the forecast period due to its wide range of clinical applications. The increasing number of spinal cases requiring the use of O-arm equipment will also aid the growth of this market segment. The C-arm segment is expected to grow at a slower rate in comparison to the O-arm segment. Nevertheless, the associated advantages of C-arm equipment such as high-resolution images, real time imaging and correction will stimulate the growth of this market segment to some extent.

Based on type, the stationary segment dominated the CT scanners market in 2016 as stationary devices are widely used by hospitals and institutions to regularly conduct a large number of CT scans. Stationary scanners require more space for installation, but are more economical than portable equipment. On the other hand, the portable segment is expected to grow at a robust CAGR during the forecast period due to various advantages and convenience associated with portable scanners such as less floor space requirement, lower weight and smaller size.

Based on technology, the high slice segment dominates the CT scanners market due to the superior quality of images offered in comparison to low slice devices. The high slice segment is expected to record a healthy growth during the forecast period due to strong efforts being made by industry players for developing high slice systems. However, the cone beam segment is expected to register the highest CAGR during the forecast period, driven by the increasing prevalence of dental disorders, growing demand in cosmetic dentistry, reduced risk, rapid scan time and technological advancements. The mid slice segment is also expected to record significant growth due to wide ranging applications such as lung analysis, CT colonography, CT angiography, dental scans and cardiac perfusion. The frequent launch and approval of mid slice devices, as well as the availability of mid slice CT scanners offering a mid-slice assortment of images to plan for future treatment will also aid the growth of this market segment.

Based on application, human diagnostics held the largest share of the CT scanners market in 2016 and will continue to dominate the market during the forecast period due to the increasing adoption of CT scanners, rising prevalence of chronic diseases and technological advancements. The ability of CT scanners to detect the presence of tumors and also provide detailed information about their location and size will positively impact the growth of this market segment.

Based on end-use, the hospital segment will continue to drive the demand for CT scanners due to the growing number of diagnostic procedures using CT devices being performed in hospitals and increasing awareness about the benefits of early diagnosis. The use of CT scanners for disease diagnosis, screening, treatment and studying disease progression will support the growth of the hospital end-use segment. On the other hand, increasing patient inflow in ambulatory surgical centers due to less waiting time, lower cost, and convenience of location will also increase the demand for CT scanners in these centers

Geographically, Asia Pacific dominated the global CT scanners market in 2016 and is expected to register a robust growth during the forecast period, driven by a huge patient pool and rising incidences of chronic diseases in the region. Additionally, favorable demographic trends such as increasing elderly population and rising disposable income will further fuel the growth of the CT scanners market in Asia Pacific. The CT scanners market in North America is expected to record a healthy growth during the forecast period due to the growing adoption of technologically advanced devices and favorable reimbursement scenario in the region.

Country-wise, the German market will be driven by technological advancements in portable CT scanners, the presence of mobile stroke units with a CT scanning unit and increasing prevalence of chronic conditions in the country. Significant R&D investments to develop superior CT scanning equipment with enhanced applications will also aid the growth of the German CT scanners market. In Mexico, the growing demand for minimally invasive diagnostic methods and increasing awareness about early disease diagnosis and treatment will drive the market growth. The South African CT scanners market will be driven by an increasing number of baby boomers highly susceptible to chronic conditions, large patient population and unmet medical requirements in the country.

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