Computed tomography (CT) scanning is a medical imaging technique that uses X-rays and computer technology to produce detailed pictures, called CT scans, of internal body structures. CT scans provide far more detailed images than standard X-rays and can help physicians better diagnose medical conditions such as broken bones, tumors, bleeding inside the body, infections and blockages.
The global Computed Tomography Market is estimated to be valued at US$ 7.9 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Improving healthcare infrastructure in developing countries is expected to be one of the major trends fueling the growth of the global computed tomography market over the forecast period. There is increasing healthcare spending in emerging economies such as India, China and countries in Southeast Asia, as a result of growing per capita incomes and changing demographics. Governments in these regions are investing heavily in upgrading healthcare facilities and improving access to advanced medical imaging technologies including CT scanners. This is providing lucrative opportunities to CT scanner manufacturers to tap into new growth markets. Enhanced healthcare coverage under government schemes is also encouraging more patients to opt for CT scans for diagnosis, thereby augmenting demand for computed tomography systems globally.
Segment Analysis
The global computed tomography market is dominated by the medical segment. Within the medical segment, the hospital sub-segment accounts for the major share owing to the large number of CT scans performed in hospitals for diagnostic and treatment purposes. The demand for CT systems is high among large hospitals and diagnostic centers due to the growing burden of chronic diseases and rising healthcare infrastructure and expenditures.
Key Takeaways
The global computed tomography market is expected to witness high growth during the forecast period of 2023 to 2030. The global Computed Tomography Market is estimated to be valued at US$ 7.9 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.
Regional analysis shows that Asia Pacific region is growing the fastest owing to increasing healthcare infrastructure, rising disposable incomes, and growing prevalence of chronic diseases. North America currently dominates the market due to presence of advanced healthcare facilities and large number of CT system installation base. However, Asia Pacific region is expected to register the highest growth over the coming years supported by growing medical tourism industry, large patient pool and expansion strategies adopted by key players to tap the potential in emerging Asian countries.
Key players operating in the computed tomography market are focusing on new product launches and enhancing their global presence through mergers and acquisitions to strengthen their market position. For instance, in 2022, Canon Medical Systems announced plans to acquire CorVue Diagnostic Technologies to expand its CT portfolio. Similarly, Siemens Healthineers is exploring opportunities in Asian markets through partnerships. The growing investments by governments and players in the Asian region are expected to increase adoption of advanced CT technologies in the coming years.
