CT Scanners Market to Grow at CAGR of 5.9% through 2022

Global CT Scanners Market: Snapshot

The healthcare industry has always been prosperous and substantially dependent on product innovation. CT scanners market is no different, which has tremendous potential across the globe, especially for those vendors who can stay in-sync with the latest technologies.

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The demand in the global CT scanners market is projected to increment at a CAGR of 5.9% during the forecast period of 2017 to 2022, gaining traction from a number of factors such as increasing preference of the patients for minimally invasive diagnostic procedures, improve healthcare infrastructure in various emerging economies, recent product improvements including the advent of portable CT scanners, and escalating geriatric population who require bedside imaging and home healthcare. In terms of revenue, the global CT scanners market is estimated to be worth US$6,429.8 mn by 2022, considerably up from its evaluated worth of US$4,834.1 mn by 2017.

O-Arm CT Scanners Producing More than Two-Third of the Overall Demand

Based on product type, the global CT scanners market has been segmented into C-Arm and O-Arm. The latter accounted for 70.2% of the overall demand in CT scanners market in 2017, and is anticipated to maintain similar chunk of demand until 2022 too, wherein it will promise a revenue of US$4,530.6 mn. The demand for O-Arm CT scanners segment is projected for a CAGR of 6.0% during the forecast period of 2017 to 2022.

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Based on end user, the market for CT scanners has been bifurcated into hospitals, diagnostic centers, research and academic institution, ambulatory care centers, veterinary clinics and hospitals, and other end users. On the basis of modality, the CT scanners market is categorized into standalone and portable, whereas technology-wise, the market has been classified into high-slice, mid-slice, low-slice, and cone beam. The portable CT scanners segment is gaining popularity at a rapid rate, which is a reflection of increasing number of device installations across developed markets, lower switching costs provided by these portable products, and growing application horizons.

North America Substantially Stronger Market than Other Regions

Geographically, the report takes stock of the potential of CT scanners market in the regions of North America, Latin America, Europe, Asia Pacific except Japan (APEJ), and the Middle East and Africa (MEA), as well as in the country of Japan. In 2017, North America CT scanners market was most profitable among all regions, generating a revenue of US$1,844.7 mn, and expanding at an above-average CAGR of 6.2% during the forecast period of 2017 to 2022, it is estimated to be worth US$2,486.4 mn by 2022.

Escalating geriatric population, increasing emphasis on minimally invasive procedures, robust reimbursement policies, and rising private and public investments are some of the key factors augmenting the demand in the North America CT scanners market. Europe is currently the second most profitable region, promising a demand for CT scanners worth of US$1,860.2 mn by 2022. This is a reflection of early adoption of new technology and moderate healthcare facilities in the region. That being said, APEJ region is projected to the best growth rate, which equal to North America. This region includes two of the most promising country-wide markets of India and China, who are among the fastest growing economies in the World.

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Innovation to Define Market Leader

GE Healthcare, Koninklijke Philips N.V., Medtronic PLC, Siemens AG, Accuray Incorporated, Carestream Health, Inc., Hitachi Ltd, Koning Corporation, Neusoft Corporation, Planmed Oy, Samsung Electronics Co., Ltd., Shenzhen Anke High-Tech Co., Ltd., Toshiba Corporation, and Shimadzu Corporation are some of the key companies currently operating in the global CT scanners market. Most of these companies are concentrating on developing portable products and increasing their geographical presence to strengthen their position in the market.

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