CT Scanner Market: Current Analysis and Forecast (2021-2027)

Report Description

The Global CT Scanner Market is anticipated to grow with a CAGR of around 6% over the forecast period (2021-2027). The introduction of CT scanners 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

Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers AG, Canon Medical Systems Corporation, FUJIFILM Corporation, NeuroLogica Corporation, Neusoft Medical System Co., Ltd., Koning Corporation, Shenzhen Anke High-Tech Co., and Hitachi Ltd. are some of the prominent players operating in the CT scanner market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with the new and advanced medical system.

Insights Presented in the Report

“Amongst type, stationary segment holds the significant share”

Based on type, the market has been distributed into, stationary and portable. Among these, stationary CT scanners held a prominent share of the market. Stationary CT is used in the management of many injuries and diseases, such as aortic dissection, pericardial tamponade, cancers, and many others. Two classes of emergent conditions where stationary CT is particularly vital are strokes and traumatic brain injuries. This is attributed to the significant adoption of stationary CT scanners for their growing application horizons. Market growth is mainly driven by the ongoing commercialization of advanced products across major markets, increasing public-private investments in the field of high-slice CT, and growing emphasis on effective & early disease diagnosis & treatment. Moreover, advanced CT imaging capabilities offered by high-slice CT devices which are commonly stationary CT scanners, and their growing adoption for outpatient diagnostic procedures is driving the market for stationary CT scanners.

“Amongst technology, low-end slice segment accounted for a considerable share”

Based on the technology, the market is categorized into a high-end slice, mid-end slice, low-end slice, and cone beam. Among these, the low-end slice held a significant share in the market in 2020. This segment’s growth is primarily driven by the increasing use of low-end slice in emerging countries, the established and strong product portfolio of market players along with the new product launches of the low-end slice. For instance, in July 2021, Planmeca Oy announced the launch of Planmeca Romexis 6.2. software. The 6.2 release includes all-new features, such as the Romexis 3D Cephalometry module for performing cephalometric tracing and analysis in 3D, as well as improvements to existing functionalities.

“North America represents one of the largest markets for CT scanner”

For a better understanding of the market dynamics of the CT scanner market, a detailed analysis was conducted for different regions across the globe including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, the United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific) and Rest of World has been conducted. North America constitutes a major market for the CT Scanner market industry in 2020 owing to the presence of well-established market players in the region, large and growing geriatric population, and advancements in CT scanners and related services.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

Customization Options:

The global CT scanner market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global CT Scanner Market Analysis (2021-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global CT scanner market were the three major steps undertaken to create and analyze the adoption of CT scanners in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global CT scanner market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of CT scanners through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the CT scanner market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, technology, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of CT scanners across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis was conducted using dependent and independent variables such as the growing need for effective and early diagnosis, rising global prevalence of chronic diseases coupled with an aging population. Historical trends and their year-on-year impact on the market size and share in the recent past were analyzed. The demand and supply-side scenarios were also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the CT Scanner market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of CT Scanner across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the CT Scanner market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the CT scanner market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, technology, application, and end-users of the CT scanner market.

The main objective of the CT scanner market study

The current & future market trends of CT scanner were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of CT scanner in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, technology, application, and end-users
• Define and analysis of the regulatory framework for the CT scanner industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the CTscanner market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
• Company profiles of the CT scanner market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry

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