The global computed tomography (CT) market size was valued at $5.53 million in 2018 and is projected to expand at a compound annual growth rate (CAGR) of 6.5% by 2026, according to a report by Grand View Research. The report forecasts $9.1 billion in revenue in 2026.
The forecast is based on the growing prevalence of various lifestyles associated with chronic diseases such as cancer and cardiovascular conditions and increasing demand for advanced imaging solutions. These are some of the factors expected to drive the overall market growth.
CT scans are critical diagnostic tools especially for lung cancer and traumatic brain injuries. The Centers for Disease Control and Prevention (CDC) reported that in 2013, more than 2.8 million people visited emergency department in the U.S. for traumatic brain injuries. CT scans are the only option to assess a patient’s condition during an emergency brain trauma event. Increasing demand for advanced assessment tools in an emergency department coupled with the growing number of ambulatory emergency care units are factors expected to have a positive impact on CT market growth, according to Grand View Research.
According to NCBI, more than 70 million CT scans are performed in the U.S. and 5 million in the U.K. every year with an annual increasing rate of 10%, signifying the growth potential of CT in the overall medical imaging market. A steep rise in the application of CT scans and the use of CT scans for effective lung cancer screening are expected to boost the demand for CT scanners in developed as well as developing countries.
The introduction of technologically advanced devices and development of accessories to enhance image quality obtained by conventional CT scanners are among major factors expected to fuel market growth. The introduction of advanced cone beam computed tomography (CBCT) systems is expected to be a major factor in widening the application of CT in modern diagnostic imaging. Dual source and artificial intelligence enabled CT scanners are expected to be important milestones in the market’s growth.
Based on technology, the CT market is segmented into high, mid, low-end slice and CBCT. High-end slice (more than 64 slices) and mid-end slice (64 slices) sectors are expected to grow at a lucrative CAGR over the forecast period. An increasing incidence of cardiovascular disorders and demand for accurate diagnostic imaging solutions are expected to drive growth.
High-end slice technology has comparatively 80% less radiation exposure than mid-end slice technology (64 slices) with a 16 cm imaging area helping in accurate diagnosis. High-end slice devices deliver detailed images in obese patients, the only factor expected to restrain the growth of this segment is the high cost of the high-end slice technology. However, improving health care infrastructure and improving financing ability should help overcome these challenges.
CBCT is expected to grow at the speediest rate over the forecast period. Compact size, low radiation exposure, and low cost compared to conventional CT are some of the advantages associated with the technique. Growing applications of CBCT are expected to propel the overall CT market during the forecast period, according to the report.
In terms of end-user, the global computed tomography market is segmented into hospitals, imaging centers and clinics. The hospital segment accounted for the largest market share in 2019. An increasing number of emergency admissions in hospitals and the growing number of surgeries performed each year has 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 difficulty and risk associated in transportation of critically ill patients from a hospital to a third-party imaging center for CT scans, has forced hospitals to establish their own CT scan machines contributing to the growth of this market, according to Grand View Research.
Ambulatory diagnostic centers are expected to grow at the speediest rate over the forecast period. According to OECD statistics, there is an approximate 14% increase in the total number of CT scanners per 1 million inhabitants in U.S. ambulatory diagnostic centers between 2015-17. It is expected to be a revolution in the market as it makes CT scans more affordable and accessible, the report indicates.
A report from Mordor Intelligence also predicts global CT market growth.
The computed tomography (CT) market was valued at approximately $6.1 million in 2020, and it is expected to reach $8.5 million by 2026, according to Mordor Intelligence.
