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 market research and consulting company Grand View Research.
A growing prevalence of various lifestyles associated with chronic diseases such as cancer and cardiovascular conditions and an increasing demand for advanced imaging solutions are among the factors expected to drive the overall market growth, according to Grand View Research.
CT scans are critical diagnostic tools – especially for lung cancer and traumatic brain injuries. The Centers for Disease Control and Prevention (CDC) reported more than 2.8 million people visited emergency departments in the U.S. for traumatic brain injuries in 2013. CT scans are the only option to assess a patient’s condition during emergency brain trauma. Increasing demand for advanced assessment tools in emergency departments and the growing number of ambulatory emergency care units are factors expected to have a positive impact on CT market growth.
According to the National Center for Biotechnology Information (NCBI), more than 70 million CT scans are performed in the U.S. annually and 5 million are done 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 growing trend of using CT scans for effective lung cancer screening are expected to boost the demand for CT scanners in developed as well as developing countries. Growing applications of CT also extend into dentistry where it is used to detect tooth decay and to assess infection.
The introduction of technologically advanced devices as well as the development of accessories to enhance image quality obtained by conventional CT scanners are 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 applications of CT in modern diagnostic imaging.
Dual source and artificial intelligence enabled CT scanners are expected to be important milestones in the market growth. ClariPi Inc. received FDA clearance for its artificial intelligence enabled CT scanner called “ClariCT.AI” in June 2019.
Similarly, in March 18, Siemens received 510k clearance for its dual source CT scanner, an innovative technology that emits a negligible amount of radiation producing high-quality image quality within a few seconds that is specifically suitable for pediatric patients and eliminates the need of holding breath during a thorax scan.
MarketsandMarkets, another research firm, also predicts market growth.
The global CT scanner market is expected to reach $6.20 billion by 2022, MarketsandMarkets reports.
MarketsandMarkets states that major factors driving the growth of the CT market include a growing need for effective and early diagnosis, a rising global prevalence of targeted diseases coupled with an aging population, increasing preference for minimally invasive diagnostic procedures, increasing benefits of CT scans over other imaging modalities and technological advancements.
However, significant installation and maintenance costs, uncertain reimbursement scenarios across developing nations, a dearth of well-trained and skilled health care professionals may hinder the growth of the CT scanner market during the forecast period.