A fresh market intelligence study by Transparency Market Research (TMR) points out the global CT scanners market features a moderately consolidated vendor landscape. General Electric Healthcare is the clear leader in the CT scanners market with its wide product range and being the pioneer for quantitative dual-energy CT scanners that offers high-quality, high-resolution, and low-dose images. Extensive geographical presence across 180 countries and strong R&D capabilities are some other key strengths of the company.
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Some other big shots in the market such as Philips and neuroLogica are focused on improving their distribution network via collaborations to gain ground over their competitors. Product innovation is also on the cards of these companies that will help them stay ahead in the competition. A case in point is Siemens Healthcare. The company in collaboration with National Institute of Health Clinical Center is striving for the development of newer CT scanners. Known as photon-counting detector CT scanners, these devices promise to improve imaging quality along with reduce exposure to radiation.
Some other key players in the global CT scanners market include Accuray Incorporated, GE Healthcare, Koning Corporation, Medtronic plc, Samsung Electronics Co. Ltd., Shimadzu Corporation, Toshiba Corporationa, and Siemens AG among others.
As per the TMR report, the global CT scanners market is predicted to be worth US$6,429.8 mn by 2024 vis-à-vis revenue, considerably up from its value of US$4,834.1 mn in 2017 at a CAGR of 5.9% therein. In terms of product type, O-Arm CT scanners displayed the leading demand in 2017 to account for 70.2% of the overall market in the same year. Geographically, the report identifies North America as the most attractive market for CT scanners due to an ultra-modern healthcare infrastructure in developed countries of the region.
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Rising Demand for Early Disease Detection a Boon for Market
“Technological advances leading to considerable improvement of efficiency, rising patient awareness for early disease detection, increasing prevalence of target diseases, rising demand for minimally invasive diagnostic procedures, diagnostic benefits of computed tomography, and improving healthcare infrastructure across emerging economies are primarily driving the CT scanner market, says the lead analyst of the study.” While most CT scanners are all-purpose, some of them are modified for specialty use such as cardiovascular examination and bone densitometry.
Furthermore, rising demand for bedside imaging, rising popularity of homecare among the geriatric population in developed nations, advent of portable CT scanners, and growing use of CT scanners to examine the outcome of post interventional medical procedures or medical implants are some other key factors behind the growth of CT scanners market.
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Lack of Trained Personnel Crimps Growth in Developing Countries
On the down side, factors such as considerable installation and maintenance cost, uncertain reimbursement scenario in several developing countries, and lack of well-trained healthcare personnel are challenging the growth of the CT scanners market. Nevertheless, government funding to improve healthcare facilities of state-run hospitals in countries such as China and India, ongoing trend of image-guided medical line of treatment, and rising demand for multimodal diagnostic imaging systems are likely to present new opportunities for vendors operating in the CT scanners market.
The review presented here is based on the findings of a TMR report, titled “CT Scanners Market (Product Type – C-Arm and O-Arm; End User – Hospitals, Diagnostic Centers, Research & Academic Institutions, Ambulatory Care Centers, and Veterinary Clinics and Hospitals; Modality – Standalone and Portable; Technology – High-slice, Mid-slice, Low-Slice, and Cone Beam) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024.”
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Key Takeaways
- Rising demand for early disease detection boosts growth
- Technological advances leading to development of portable CT scanners stokes demand
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