Ct Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
-
Published date -30th Jan 2024
-
Formats -PDF, CSV
-
Region -Global
Market Size & CAGR of CT Market in 2021
The global CT market is anticipated to grow at a CAGR of 4.2% from 2021 to 2026. In 2021, the market size was estimated to be USD 5.6 billion. With the increasing demand for advanced medical imaging technologies and the rising prevalence of chronic diseases, the CT market is expected to witness significant growth in the coming years.
COVID-19 Impact on the CT Market
The COVID-19 pandemic had a mixed impact on the CT market. On one hand, the demand for CT scans increased as healthcare facilities focused on diagnosing and monitoring COVID-19 cases. However, the overall market was affected by disruptions in supply chains and manufacturing processes. In addition, many non-urgent CT scans were postponed or canceled due to the prioritization of COVID-19-related imaging procedures.
CT Dynamics
The CT market is dynamic and continuously evolving with advancements in technology and the introduction of new imaging techniques. Key factors driving the growth of the CT market include the increasing prevalence of chronic diseases, the rising geriatric population, and the growing demand for early and accurate disease diagnosis. In addition, the development of high-resolution CT scanners and the integration of artificial intelligence (AI) in CT imaging are expected to further propel market growth.
Segments and Related Analysis
The CT market can be segmented based on product type, slice type, application, end user, and region. Product types include low-end, mid-end, and high-end CT scanners. Slice types range from single-slice CT scanners to multi-slice CT scanners. Applications of CT imaging include oncology, neurology, cardiology, and others. End users of CT scanners include hospitals, diagnostic centers, and research institutions.
By Region Analysis
The CT market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa regions. North America currently holds the largest market share due to the presence of advanced healthcare infrastructure, high healthcare expenditure, and widespread adoption of advanced imaging technologies. However, the Asia Pacific region is expected to witness the fastest growth rate during the forecast period, driven by increasing investments in healthcare infrastructure and the rising prevalence of chronic diseases.
Key Market Players and Competitive Landscape
Some of the key players in the CT market include Siemens Healthineers, GE Healthcare, Philips Healthcare, Canon Medical Systems Corporation, and Hitachi Medical Systems. These companies focus on product innovation, strategic partnerships, and acquisitions to maintain their market position and gain a competitive edge. The competitive landscape of the CT market is characterized by intense competition, technological advancements, and a strong emphasis on research and development.
Recent Happenings in the CT Market
1. In June 2021, Siemens Healthineers introduced the SOMATOM X.cite premium single-source CT scanner with innovative technologies for personalized imaging and patient-specific radiation dose management.
2. In April 2021, GE Healthcare launched the Revolution Ascend CT system, designed to streamline imaging workflow, enhance image quality, and improve diagnostic accuracy.
3. In March 2021, Philips Healthcare announced the release of the Incisive CT platform with AI-powered tools for enhanced diagnostic confidence and improved patient care.
