Computed Tomography Market Size Worth .1 Billion By 2026

Posted by Nicky Arora on March 11th, 2020

The global computed tomography market size is expected to reach USD 9.1 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.5%. Increasing burden of chronic disorders, such as cardiovascular diseases and cancer, and high demand for effective imaging tools are the factors driving growth. In addition, increasing demand for computed tomography (CT) systems in emergency care departments is expected to be a major driver during the forecast period.

Advanced technology with features such as dose management systems, ability to diagnose tumors through motion (4D), and high-end material differentiation is expected to replace the existing conventional devices. Increasing number of favorable reimbursement policies by government as well as private entities are also expected to drive the CT market at a lucrative pace.

Establishment new screening guidelines in 2011 by NCCN Lung Cancer Screening Panel is expected to have a positive impact on market growth. CT scan is considered as an effective imaging tool and it is required through the lung cancer detection and treatment process to the comparative study of images to monitor the effectiveness of medication prescribed.

Growing demand for ambulatory diagnostic centers due to improving affordability and increasing reach of CT scanners to remote regions is expected to aid further growth. Moreover, the inability of alternative imaging technologies to provide quick reports and at the same time be cost-effective boosts growth. These devices and this technology is also routinely upgraded, which is expected to further increase demand over the forecast period.

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Further key findings from the report suggest:

• High end and mid end slice CT segments held a significant share in of the computed tomography market. The increasing demand for advance technology with enhanced imaging quality and the shifting focus on providing quality healthcare services has contributed to this growth.
• Based on end use, hospital captured largest revenue share in 2018. Large patient pool and high demand for CT scanners as a diagnostic tool during treatment are expected to contribute toward the growth of this segment.
• North America dominated the CT market in 2019. High adoption of advanced technology and presence of a large number of market players are some of the factors that can be attributed to this share.
• Asia Pacific is expected to grow at the fastest rate over the forecast period. Growing demand for advanced imaging techniques and rising number of diagnostic imaging centers are some of the factors driving regional growth.

Major players in the industry are focusing on launch of advanced technology and features such as artificial intelligence enabled, dual source detector technology based CT scanners.