Global Computed Tomography Market to Reach US$ 7.4 Billion by 2032, Propelled by Rising Prevalence of Chronic Conditions

July 06, 2023 | Healthcare IT

According to the latest report by IMARC Group, titled “Computed Tomography Market by Type (Low Slice, Medium Slice, High Slice, Cone Beam), Application (Oncology, Neurology, Cardiovascular, Musculoskeletal, and Others), End User (Hospitals, Diagnostic Centers, and Others), and Region 2024-2032," the global computed tomography market size reached US$ 4.7 Billion in 2023. Computed tomography (CT) refers to a medical imaging technique that utilizes X-rays to produce detailed cross-sectional images of the body. It is comprised of several components, such as an X-ray tube, detectors, gantry, patient table, data acquisition system (DAS), image processing and storage, console, and user interface. Computed tomography is widely used for diagnosis, cancer detection, emergency medicine, interventional procedures, virtual endoscopy, orthopedics, and cardiovascular imaging. As compared to traditional X-ray imaging, CT is a safe, reliable, and highly efficient technique that offers better visualization of organs, bones, blood vessels, and soft tissues. It can also generate images in multiple planes, including axial, sagittal, and coronal views, which enables healthcare professionals to examine structures from different angles for accurate diagnosis and treatment planning.

Computed Tomography Market Trends:

The escalating prevalence of chronic conditions, such as cancer, cardiovascular diseases (CVDs), and neurological disorders, is propelling the market growth. CT is widely used for the diagnosis, staging, and monitoring of diseases, which aids healthcare professionals in decision-making and improving clinical outcomes. Along with this, the rising geriatric population, which is highly susceptible to developing chronic illnesses, is acting as another growth-inducing factor. Furthermore, the growing awareness among the masses regarding early disease diagnosis to prevent future complications, enable early intervention, and reduce healthcare expenditure is providing a boost to the market growth. Additionally, the recent development of photon-counting detectors that improve spectral imaging, material decomposition, and reduce radiation dose by optimizing energy-specific imaging is contributing to the market growth. Besides this, the introduction of dual-energy computed tomography, which utilizes different levels of X-rays to provide additional information about tissue composition and characteristics, is positively influencing the market growth. Apart from this, the implementation of supportive government policies to spread awareness regarding chronic illnesses and provide access to high-quality treatments is favoring the market growth. Other factors, including increasing demand for minimally invasive (MI) procedures, rising investments in the development of advanced CT scanners, and the growing number of healthcare facilities, such as hospitals and clinics, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 7.4 Billion by 2032, exhibiting a CAGR of 5.27% during 2024-2032.

Market Summary:

  • On the basis of the type, the market has been classified into low slice, medium slice, high slice, and cone beam. Among these, high slice represents the largest market share.
  • Based on the application, the market has been divided into oncology, neurology, cardiovascular, musculoskeletal, and others. Among these, oncology holds the majority market share.
  • On the basis of the end user, the market has been classified into hospitals, diagnostic centers, and others. Among these, hospitals represent the largest market share.
  • Regions-wise, the market has been categorized into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. At present, North America holds the largest market for computed tomography.
  • The competitive landscape of the industry has also been examined, with some of the key players being Canon Medical Systems Corporation (Canon Inc.), FUJIFILM Holdings Corporation, GE HealthCare (General Electric Company), Koning Corporation, Koninklijke Philips N.V., NeuroLogica Corp. (Samsung Electronics Co. Ltd.), Neusoft Medical Systems Co. Ltd. (Neusoft Corporation), Planmeca Oy, Siemens Healthineers AG (Siemens AG), Stryker Corporation, etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Types Covered Low Slice, Medium Slice, High Slice, Cone Beam
Applications Covered Oncology, Neurology, Cardiovascular, Musculoskeletal, Others
End Users Covered Hospitals, Diagnostic Centers, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Canon Medical Systems Corporation (Canon Inc.), FUJIFILM Holdings Corporation, GE HealthCare (General Electric Company), Koning Corporation, Koninklijke Philips N.V., NeuroLogica Corp. (Samsung Electronics Co. Ltd.), Neusoft Medical Systems Co. Ltd. (Neusoft Corporation), Planmeca Oy, Siemens Healthineers AG (Siemens AG), Stryker Corporation, etc.
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Global Computed Tomography Market to Reach US$ 7.4 Billion by 2032, Propelled by Rising Prevalence of Chronic Conditions
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