Market Size of Computed Tomography (CT) Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 8.64 Billion |
Market Size (2029) | USD 11.62 Billion |
CAGR (2024 - 2029) | 6.12 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Computed Tomography Market Analysis
The Computed Tomography Market size is estimated at USD 8.64 billion in 2024, and is expected to reach USD 11.62 billion by 2029, growing at a CAGR of 6.12% during the forecast period (2024-2029).
The increasing number of COVID-19 cases has increased demand for CT scanners, which is expected to impact the market positively. For instance, in June 2020, the Abu Dhabi Health Services Company (SEHA) launched a 16-slice mobile CT scanner in the UAE for diagnosing pneumonia in COVID-19 patients, indicating that developing countries are using CT scanners for the detection of COVID-19. The CT examination played an important auxiliary role in the diagnosis and subsequent management of COVID-19 patients. CT scans can reduce the chance of false-negative results in the RT-PCR assay. These findings led to an increased demand for CT scans in the country during COVID-19. Governments worldwide are adopting policy measures to reduce the transmission of COVID-19, which is further decreasing the demand for imaging independent of COVID-19. Measures taken by hospitals to expand crisis capacity are further reducing the amount of appropriate medical imaging that can be safely performed.
CT scans are considered the most critical diagnostic tool, especially for lung cancer and traumatic brain injuries. The prevalence of these diseases is boosting the market's growth. Other market drivers are the rising geriatric population, increasing chronic diseases, shifting medical care toward image-guided interventions, and technological advancements. As per the data published by the American College of Chest Physicians in July 2020, lung cancer is one of the most frequently diagnosed cancers. It accounts for 11.6% of the total cancer cases globally. Worldwide lung cancer incidents are estimated to increase by 38%, to 2.89 million, by 2030. A CT scan provides 3D images of bones and helps in better diagnosis and surgeries for orthopedics. Thus, with the rising burden of orthopedic disorders, the demand for CT scanners is also expected to grow.
Major companies in the market are coming up with new CT devices, which are driving the growth of the market studied. For instance, in July 2022, Siemens Healthineers presented its newly launched CT imaging device at the European Congress of Radiology (ECR) 2022 held in Vienna. By presenting the new CT devices, the company has promoted its imaging portfolio across European countries. Hence, with the new launches coming from global companies, the market studied is expected to grow significantly during the coming years.
However, a lack of adequate reimbursement and a stringent regulatory framework are expected to hinder the market's growth.
Computed Tomography Industry Segmentation
As per the scope of the report, computed tomography (CT) is an imaging process that customizes special X-ray equipment to generate a sequence of exhaustive images or scans of areas inside the body. The Computed Tomography (CT) Market is Segmented by Type (Low Slice, Medium Slice, and High Slice), by Application (Oncology, Neurology, Cardiovascular, Musculoskeletal, and Other Applications), by End User (Hospitals, Diagnostic Centers, and Other End Users), and by Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the market size and forecast in value (USD million) for the above segments.
By Type | |
Low Slice | |
Medium Slice | |
High Slice |
By Application | |
Oncology | |
Neurology | |
Cardiovascular | |
Musculoskeletal | |
Other Applications |
By End User | |
Hospitals | |
Diagnostic Centers | |
Other End Users |
By Geography | ||||||||
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Computed Tomography (CT) Market Size Summary
The computed tomography (CT) market is poised for significant growth over the forecast period, driven by the increasing prevalence of chronic diseases such as cancer and neurological disorders, alongside the rising geriatric population. CT scans are critical diagnostic tools, particularly for lung cancer and traumatic brain injuries, which are contributing to the market's expansion. Technological advancements and the introduction of high-slice CT scanners are enhancing diagnostic accuracy and efficiency, further propelling market growth. The demand for CT scanners has been bolstered by the COVID-19 pandemic, as they play a vital role in diagnosing and managing the disease, although the post-pandemic period may see a shift in demand dynamics. Major players in the industry, including Siemens Healthineers, GE Healthcare, and Philips, are actively launching innovative products to maintain their competitive edge and capture a larger market share.
Regionally, North America holds a significant portion of the global CT market, supported by a robust healthcare infrastructure and increased awareness of medical imaging. The United States, in particular, is experiencing growth due to its aging population and the associated rise in chronic disease cases. The market is characterized by a few dominant players who focus on technological advancements and strategic initiatives such as mergers, acquisitions, and product launches to drive growth. Despite challenges like inadequate reimbursement and regulatory hurdles, the market is expected to expand, with companies like Canon Medical Systems, Fujifilm Holdings, and others contributing to the development of advanced CT solutions. The introduction of cost-effective and portable CT systems in emerging markets further underscores the industry's commitment to enhancing diagnostic capabilities globally.
Computed Tomography (CT) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Geriatric Population and Increasing Incidences of Chronic Diseases
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1.2.2 Shifting Medical Care Toward Image-guided Interventions
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1.2.3 Technological Advancements
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1.3 Market Restraints
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1.3.1 Lack of Adequate Reimbursement
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1.3.2 Stringent Regulatory Framework
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Low Slice
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2.1.2 Medium Slice
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2.1.3 High Slice
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2.2 By Application
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2.2.1 Oncology
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2.2.2 Neurology
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2.2.3 Cardiovascular
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2.2.4 Musculoskeletal
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2.2.5 Other Applications
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Diagnostic Centers
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2.3.3 Other End Users
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Computed Tomography (CT) Market Size FAQs
How big is the Computed Tomography (CT) Market?
The Computed Tomography (CT) Market size is expected to reach USD 8.64 billion in 2024 and grow at a CAGR of 6.12% to reach USD 11.62 billion by 2029.
What is the current Computed Tomography (CT) Market size?
In 2024, the Computed Tomography (CT) Market size is expected to reach USD 8.64 billion.