Computed Tomography Market Technological Advancements & Forecasts 2030

Posted on 2023-06-01 by researchinsights in Internet & Online // 0 Comments

Computed Tomography Industry Overview

The global computed tomography market size was valued at USD 4,045.6 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.

Technological advancements in CT technology, coupled with the growing prevalence of chronic disorders such as cancer, orthopedics, and cardiovascular and neurological conditions are expected to accelerate the market growth. As per the WHO, in 2020 cancer accounted for about 10 million deaths globally. Since the onset of the COVID-19 pandemic, there has been a boost in the usage of CT scan equipment, therefore demand for advanced imaging solutions is projected to drive market expansion. As per OECD, in 2020 the number of CT units installed in the U.S. was 42 per million population.

Gather more insights about the market drivers, restrains and growth of the Global Computed Tomography Market

The introduction of CT has been of great benefit to medical care. This technology improves diagnoses, prevents unnecessary medical procedures, improves treatment by providing detailed anatomical imaging, and is a cost-effective imaging technique. It is an essential diagnostics tool, especially for scanning bone, soft tissue, and blood vessels all at the same time. Since CT imaging is quick and easy during emergency cases, internal injuries can be detected early enough to save lives. Thus, the increasing demand for advanced assessment tools in the emergency department and the growing number of ambulatory emergency care units are the factors expected to have a positive impact on market growth.

Technological advancements such as the integration of artificial intelligence and the development of accessories to enhance image quality obtained by conventional CT scanners are the major factors expected to fuel market growth. For instance, in May 2021, Siemens Healthineers launched a new CT scanner, Somatom X. need. It is a high-speed, high-resolution CT scanner with an intelligent operation approach that makes procedures easier for medical staff and patients. In September 2021, GE Healthcare introduced a new CT system, Revolution Ascend which uses Artificial Intelligence (AI) to improve operational efficiency and patient comfort.

According to NCBI, more than 70 million CT scans are performed in the U.S. and 5 million in the U.K every year with an annual increasing rate of 10%, signifying the growth potential of CT in the overall medical imaging market. A steep rise in the applications of CT scans and growing trends of using CT scans for effective lung cancer screening are expected to boost the demand for CT scanners in developed as well as developing countries. Growing applications of CT also extend in dentistry to detect tooth decay and to assess infection in surrounding areas.

COVID-19 has positively impacted the computed tomography systems market. Demand for CT scan machines steadily increased since the beginning of the COVID-19 pandemic. Large manufacturers, such as Siemens Healthineers, have a sales volume of over 200 CT scanners per year. The COVID-19 outbreak has resulted in a considerable increase in the demand for CT scan equipment, with Siemens reporting sales of 80 to 100 units in just 45 days. Furthermore, several manufacturers are increasing the production capacity of CT systems owing to the rising demand for chest CT examinations in COVID-19 patients. For instance, in March 2020, GE Healthcare increased the manufacturing capacity of its medical equipment, such as CT, ultrasound, mobile X-ray, and ventilators, to meet the unprecedented demand amid the COVID-19 pandemic

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