July 12, 2024
Computed Tomography Market

Global Computed Tomography Market Is Estimated To Witness High Growth Owing To Technological Advancements & Growing Geriatric Population

The global Computed Tomography (CT) market is estimated to be valued at USD 7,101.7 million in 2021. It is expected to exhibit a CAGR of 6.1% over the forecast period of 2021-2028, according to a new report published by Coherent Market Insights.

A) Market Overview:
Computed Tomography (CT) is a non-invasive medical imaging technique that combines X-ray and computer processing to produce detailed cross-sectional images of the body. CT scans are widely used in various medical applications such as oncology, cardiology, neurology, and orthopedics, among others. It enables healthcare professionals to diagnose and visualize internal structures of the body, aiding in accurate treatment planning and disease management.

B) Market Dynamics:
The market dynamics of the Computed Tomography (CT) market can be attributed to two main drivers. Firstly, technological advancements in CT scanning technology have significantly improved image quality and reduced radiation exposure for patients. For instance, the development of advanced CT systems with iterative reconstruction algorithms has led to clearer and more detailed images.

Secondly, the growing geriatric population has fueled the demand for CT scans. Elderly individuals are more prone to various chronic and age-related diseases, such as cancer, cardiovascular diseases, and neurological disorders. CT imaging plays a crucial role in early detection, staging, and monitoring of these diseases, leading to an increased demand for CT scans.

C) Segment Analysis:
In the Computed Tomography Market, the multi-slice CT segment dominates due to its higher scanning speed, improved image resolution, and higher patient throughput. Multi-slice CT scanners enable faster and more accurate diagnosis, especially in emergency cases where time is critical. Furthermore, the increasing adoption of multi-slice CT scanners in hospitals and diagnostic centers is driving the growth of this segment.

D) PEST Analysis:
– Political: Government regulations and policies related to healthcare infrastructure and medical device approvals play a crucial role in the adoption of CT scanners.
– Economic: Economic factors such as healthcare expenditure, reimbursement policies, and availability of healthcare facilities influence the demand for CT scans.
– Social: Growing awareness about preventive healthcare and the importance of early diagnosis is driving the demand for CT scans.
– Technological: Technological advancements in CT scanning technology, such as iterative reconstruction algorithms and dual-source CT systems, are revolutionizing the market.

E) Key Takeaways:
– The global Computed Tomography (CT) market is expected to witness high growth, exhibiting a CAGR of 6.1% over the forecast period, due to increasing technological advancements and the growing geriatric population.
– North America is the fastest-growing and dominating region in the CT market, attributed to the presence of well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced medical technologies.
– Key players operating in the global Computed Tomography (CT) market include United Medical Imaging Inc., Siemens Healthineers, Canon Medical Systems Corporations, GE Healthcare, Hitachi Healthcare Americas, Koninklijke Philips N.V., NeuroLogica Corporation, Neusoft Medical Systems Co. Ltd., Shenzhen Anke High-Tech Co. Ltd., Eaton, Hologic, Arineta, Analogic, Samsung, Carestream Health, and Toshiba.

In conclusion, the global Computed Tomography (CT) market is poised for significant growth due to technological advancements in CT scanning technology and the increasing demand for CT scans from the growing geriatric population. The market is expected to witness strong growth in the North America region, and key players are actively involved in the development and innovation of CT scanning systems.