CT Scanners Market
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 - 2022
The healthcare sector is hardly affected by the blow the COVID-19 has caused to other businesses around the world. Healthcare is a booming sector even in the testing times of the new coronavirus pandemic and the CT scanners market is no exception. The CT scanners market is projected to experience substantial growth during the forecast period of 2017-2022 with escalating COVID-19 cases and the growing geriatric population being the main factors. A CT scan allows medical practitioners to get an internal view of the body without dissection.
Technological advancements are also taking the front seat and assisting greatly in propelling the growth rate of CT scanners market. In emergencies like brain trauma and heart attacks, CT scans are a feasible option for ideal diagnosis and help the healthcare professionals to perfectly assess the condition of the body and also the type of treatment to be given to the patient. These factors shed light on the importance of CT scanners in the healthcare sector. Another major advantage of a CT scan is the potential to take an image of blood vessels, soft tissue, and bone at the same time, unlike conventional X-rays. Furthermore, rapid acquisition of images leads to providing medical information that’s different from other imaging examinations such as MRI. Thus, this factor makes the CT scanner special and leads to more demand.
According to Transparency Market Research (TMR), the global CT scanners market is anticipated to expand at a healthy CAGR of 5.9% across the forecast period of 2017 to 1022 mainly owing to factors such as rising geriatric population and insights in the use of CT scan for diagnosing COVID-19. The revenue game of the CT scanners market is also projected to be strong enough and may record good worth. TMR estimates the worth of US$4,384 mn in 2017 to rise to US$6,429.8 mn by 2022.
Technologies Seeping Deep for COVID-19 Diagnosis through CT Scans
The CT scanners market is experiencing a rise in the research and development activities for discovering the use of CT scans for diagnosing SARS-CoV-2. Technologies like artificial intelligence (AI) and cloud-based technologies can bring a paradigm shift in the COVID-19 testing landscape. A cloud-based system can help healthcare professionals assess data at minimal costs. Besides, it will help in detection and treatment, eventually leading to flattening of the curve. Security-enabled cloud-based technologies such as AES encrypted images for complete privacy in terms of images will also prove to be beneficial. Thus, these developments can help the CT scanners market to steer toward growth.
The CT scanners market is also making inroads in the dentistry segment. CT scanners providing a true 3D visualization of the patients and the compatibility with all DICOM format CT scans is helping the CT scanners market to garner considerable momentum in terms of growth rate.
O-Arm CT Scanners to Record Good Growth
The O-Arm CT scanners are predicted to record good growth across the forecast period. O-Arm CT scanners accounted for nearly 70.2% of the total demand in the CT scanners market in the year 2017. TMR also predicts revenue of US$4,530.6 mn in the O-Arm CT scanners segment and is also estimated to record a 6% CAGR throughout the forecast period.
Portable CT scan Devices Creating Buzz in CT Scanners Market
Portable CT scanners are proving to be a boon for the CT scanners market due to the plethora of benefits it offers. Advantages such as improved scanning speed and decrease in transport-related morbidity bring tremendous growth opportunities for the CT scanners market. The use of portable CT scanners for neurological disorders is gaining traction and is estimated to grow further at a rapid rate. Decreased personnel costs and an increase in efficiency of fixed scanning are some other benefits that prove to be growth multipliers for the CT scanners market.
Mergers and Acquisitions Forming Crux for Growth of CT Scanners Market
Frequent merger and acquisition activities, joint ventures, partnerships, and collaborations help major players in the CT scanners market to strengthen their position in the CT scanners market. Intense competition is observed in the CT scanners market with many players in the fray. Key players involved in the CT scanners market are Medtronic PLC, Siemens AG, Samsung Electronics Co. Ltd., Toshiba Corporation, Accuray Incorporated, GE Healthcare, Koninklijke Philips, Hitachi Ltd., Koning Corporation, and Carestream Health Inc.
Quick Approvals Adding Extra Stars of Growth
Government support is a vital component for the growth of the CT scanners market. Quick approvals by the regulatory bodies and legislation introduced in various countries for supporting the CT scanners market assist in increasing the growth rate of the CT scanners market to a great extent. Reimbursement policies and rising investments from the government are also helping the CT scanners market to record a good growth rate.
North America to Record Substantial Growth for CT Scanners Market
Regionally, the CT scanners market is segmented into North America, Europe, Asia Pacific except Japan (APEJ), the Middle East and Africa, and Latin America. North America is estimated to emerge as a leader in terms of imparting growth to the CT scanners market. The rise in demand for minimally invasive procedures, a good healthcare system, considerable investments, and a growing aging population are some major factors aiding in the growth of the CT scanners market. APEJ may also perform equally well. Europe may fare well in terms of generating growth for the CT scanners market due to early technology adoption and better healthcare facilities across the region.
Global CT Scanners Market: Overview
The global CT scanners market is currently in development stage, wherein product innovation is at the forefront of strategies for the vendors striving to gain ground over their competitors. For instance, the development of portable CT scanners is expected to go a long way in defining the leader of the market in the near future. This report on the global CT scanners market provides estimations and forecast for the duration of 2017 to 2022, segments it on the basis of product type, end user, modality, and technology, evaluates the potential of various regions, profiles some of the key companies in order to gauge the competitive landscape. The report has been developed by a group of professional market research analysts and aspires to serve as a credible business tool for its targeted audiences such as original equipment manufacturers (OEMs), hospitals and diagnostic centers, research institutes, and government agencies.
Global CT Scanners Market: Key Research Aspects
The report provides qualitative and quantitative analysis of the global CT scanners market. Qualitative analysis comprises market dynamics, trends, product overview, and country-level market information. Quantitative analysis includes major players with their reported revenue, market size, and forecast for the global CT scanners market in major countries globally. Market revenue is provided in terms of US$ Mn from 2017 to 2022 along with the compound annual growth rate (CAGR %) from 2017 to 2022 for all the segments, considering 2016 as the base year. The executive summary of the report provides a snapshot of the CT scanners with information on leading segments, country wise market information with respect to the market size, growth rate (CAGR %), and growth factors. The market overview section comprises impact factors such as drivers, restraints, and opportunities for the CT scanners market. These factors would aid the stakeholders in establishing a strong foothold in the global CT scanners market. Furthermore, the market overview section comprises key industry events, product overview, market attractiveness analysis and emerging trend in the blood transfusion diagnostics market. The market attractiveness analysis provides a graphical view comparing the growth and market dynamics in various segments and country wise to identify the most attractive market.
Global CT Scanners Market: Segmentations
Based on product type, the global CT scanners market has been segmented into C-Arm and O-Arm. On the basis of end users, 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.
Geographically, the report takes stock of the potential of CT scanners market in the regions of North America, Europe, Latin America, The Middle East and Africa (MEA), and Asia Pacific except Japan (APEJ). Some of the key countries among these regions identified by the report that have considerable market for CT scanners are: the U.S., Canada, Brazil, Mexico, Germany, the U.K., France, Spain, India, China, Malaysia, Thailand, GCC countries, South Africa, and Israel, and Nigeria. For each of these countries, the report provides revenue comparison based on product type, end user, technology, and modality.
Global CT Scanners Market: Competitive Landscape
Koninklijke Philips N.V., GE Healthcare, Medtronic PLC, Accuray Incorporated, Samsung Electronics Co., Ltd., Shenzhen Anke High-Tech Co., Ltd., Carestream Health, Inc., Hitachi Ltd, Koning Corporation, Neusoft Corporation, Planmed Oy, Shimadzu Corporation, Toshiba Corporation, and Siemens AG are some of the key companies currently occupying prominent positions in the global CT scanners market.