CT Scanner Market size is set to exceed USD 7 billion by 2024; according to a new research report by Global Market Insights.
Rising prevalence of chronic diseases such as cardiovascular diseases and cancer coupled with growing demand for minimal invasive diagnostic tools will drive CT scanner market over the forecast period.
CT scanner offers multifactorial benefits in disease diagnosis, screening and treatment. It is used to assist doctors during surgical procedures such as biopsy, identifying epilepsy, spinal stenosis, herniated discs, encephalitis and presence of brain tumors and cysts will drive industry growth. Increasing awareness about early disease diagnosis and treatment will further accelerate demand for CT scanner.
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Technological advancements in device such as development of portable CT scanner, addition of slices and various other features will fuel industry growth. The equipment is cost effective as well as delivers superior imaging quality as compared to other imaging modalities will drive business growth. However, availability of refurbished devices, risk associated with exposure to radiation, and prohibitive cost of device will hamper industry growth.
O-arm segment held largest market share in 2016 and is estimated to follow similar trend owing to technological advancement as well as growing application of o-arm during spinal surgeries. It is used for assessing spine surgeries, pedicle screw position, and kyphoplasty procedures will favor segment growth.
Portable CT scanner segment will witness lucrative growth over the forecast period owing to mobility and flexibility offered by portable device leading to rising adoption. Reduced logistic issues coupled with shorter installation time will further fuel segment growth. High adoption of stationary CT scanner in huge hospitals conducting maximum number of CT scans every month will drive stationary segment growth over the forecast period.
Mid slice segment will grow considerably due to wide ranging applications including lung analysis, CT colonography, CT angiography, dental scans, and cardiac perfusion. Frequent launch and approval of mid slice devices coupled with availability of mid slice CT scanner offering mid slice assortment of images used for planning future treatment will fuel industry growth.
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Human application segment held largest market share in 2016 owing to growing adoption of CT scanner, rising prevalence of chronic diseases and technological advancements in the device. Equipment not only detects presence of tumor but also delivers detailed information about location and size of the tumor will positively impact industry growth. Growing adoption of pet for companionship, rising spending on pet care and increasing R&D investment towards developing pet cancer treatment solutions will drive veterinary CT scanner segment growth.
CT scanner is used in disease diagnosis, screening, treatment and also for studying disease progression will drive hospital segment growth over the forecast period. It provides guidance during surgery as well as locates appropriate part to be operated, thereby preserving delicate structures will fuel industry growth.
Germany market will be driven by technological advancements in portable CT scanner, presence of mobile stroke units consisting of an CT scanning unit and growing prevalence of chronic conditions in the country. Significant R&D investment to develop superior CT scanning equipment with enhanced applications will augment industry size in the future.
Increasing demand for minimal invasive diagnostic method along with growing awareness about early disease diagnosis and treatment will drive Mexico market. Increasing number of baby boomers, highly susceptible to suffer from chronic condition, large patient population and rendering unmet medical requirements in the country will drive South Africa CT market in the future.
Some of the notable industry players operating in global market are Canon Medical Systems Corporation (Toshiba), CurveBeam, Hitachi Medical Corporation, Koninklijke Philips, Neusoft, Samsung, Shenzhen Anke High-Tech, Xoran Technologies, United Imaging, Siemens Healthineers, Planmed Oy, Medtronic, Koning Corporation, GE Healthcare, Carestream and Accuray. Industry players are focusing on R&D activities to develop innovative product delivering superior image quality in less cost. For instance, GE Healthcare launched CardioGraphe, cardiovascular CT system in March 2017 to broaden product portfolio as well as sustain its leading position in the market.
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