Staff report
A Grand View Research report states that the global computed tomography market size was valued at 4 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.
“Technological advancements in CT technology, coupled with the growing prevalence of chronic disorders such as cancer, orthopedics, and cardiovascular and neurological conditions are expected to accelerate the market growth,” the report adds. “As per the WHO, in 2020 cancer accounted for about 10 million deaths globally. Since the onset of the COVID-19 pandemic, there has been a boost in the usage of CT scan equipment, therefore demand for advanced imaging solutions is projected to drive market expansion. As per OECD, in 2020 the number of CT units installed in the U.S. was 42 per million population.”
New technology is among factors driving growth of the market.
“Technological advancements such as the integration of artificial intelligence and the development of accessories to enhance image quality obtained by conventional CT scanners are the major factors expected to fuel market growth. For instance, in May 2021, Siemens Healthineers launched a new CT scanner, Somatom X. need. It is a high-speed, high-resolution CT scanner with an intelligent operation approach that makes procedures easier for medical staff and patients. In September 2021, GE Health care introduced a new CT system, Revolution Ascend which uses artificial intelligence (AI) to improve operational efficiency and patient comfort,” Grand View Research reports.
“The hospital segment dominated the market and accounted for the largest revenue share of 36.3% in 2021. The increasing number of emergency admissions in hospitals and the growing number of surgeries performed each year have contributed to the market share. Moreover, CT scans serve as an effective tool for accurate diagnosis pre-operative and post-operative to determine the effectiveness of the treatment,” the report adds.
Mordor Intelligence also released a report predicting market growth.
The computed tomography (CT) market is valued at $7.5 billion in the current year, and it is projected to reach a CAGR of 5.76% during the forecast period ending in 2028, according to Mordor Intelligence.
“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.” •
