The global computed tomography (CT) market accounted for revenue of $4,894.3 million in 2015, and it is expected to grow at a CAGR of 5.0% during 2016-2022. Based on slice type, the high slice type segment is expected to witness the faster growth during the forecast period, at a CAGR of 5.3% in the global market.
Computed tomography (CT) is an imaging procedure, which uses special x-ray equipment to provide detailed images of internal organs, blood vessels, soft tissues and bones. It is also known as CAT scanning (computerized axial tomography). It provides cross-sectional images in multiple planes. It helps in diagnosis of cancer, circulatory conditions and disorders (coronary artery disease, blood clots, and blood vessel aneurysms), kidney and bladder stone, spinal conditions, inflammatory diseases (ulcerative colitis and sinusitis), and injuries to head, skeletal system and internal organs.
GLOBAL COMPUTED TOMOGRAPHY MARKET BY SLICE TYPE $M 2012 – 2022
The global computed tomography market is growing at a significant rate, due to growing geriatric population, increasing prevalence of chronic diseases such as cancer, lung diseases and rheumatoid arthritis, increasing incidence of injuries, increasing awareness about early diagnosis, and increasing healthcare expenditure. In addition, the improving healthcare infrastructure in developing countries, such as China and India, and technological advancement in CT are also driving the growth of the global market. The restraints associated with the growth of the global computed tomography market include stringent regulations for the approval of CT devices, and side effects of ionization radiation.
Geographically, North America is expected to maintain its dominance in the global market of computed tomography during 2016-2022. This is due to increasing healthcare expenditure, growing geriatric population, improved healthcare infrastructure, and growing prevalence of chronic diseases. In addition, the increasing research activity for the advancement of imaging technology is also driving the growth of the North American market.
The European CT market is growing, mainly due to growing aging population, increasing prevalence of chronic diseases, and increasing healthcare cost. However, the Asia-Pacific market of CT is expected to witness the highest growth globally, during the forecast period. This is due to the growing geriatric population and surge in the occurrence rate of different chronic diseases. Additionally, the large population pool and improving healthcare infrastructure are driving the growth of the market in the region.
Some of the key companies operating in the global computed tomography market include Hitachi Ltd., Siemens AG, Toshiba Corporation, Samsung, General Electric Company and Koninklijke Philips N.V.