The global computed tomography market will generate a revenue of $77,254.79 million in 2030, advancing at a CAGR of 7.10% between 2021 and 2030. This can be attributed to the increasing desire for minimally invasive diagnostic procedures, advantages of CT scans over other imaging modalities, and expanding need for effective and early diagnosis of diseases. Moreover, the market growth is also attributed to the increasing demand for sophisticated assessment tools in emergency rooms and the rising number of mobile emergency care units.
North America accounted for the largest revenue share, of more than 30%, in the computed tomography market in 2021. This is due to the continuous increase in healthcare research and development activities, the rise in the incidence of chronic diseases, the high rate of device adoption by diagnostic laboratories, and the surge in the need for efficient diagnostic imaging techniques, in the region.
Whereas, the APAC market is expected to witness the fastest growth during the forecast period. This can be ascribed to the rising prevalence of illnesses that need high-resolution CT scans for diagnosis and therapy, the growing population, and the surging preference for efficient diagnostic imaging, in the region. Moreover, the rising incidence of orthopedic fractures, the increasing medical tourism activity, and the availability of cutting-edge medical technology are other important factors that support the regional market expansion.
Furthermore, numerous governments in the region are running awareness campaigns for chronic illnesses like breast cancer, lung cancer, and tuberculosis. As a result, the significance of early disease diagnosis is becoming recognized by both the general public and healthcare professionals. With the use of CT machines, medical personnel can identify a wide range of diseases, such as lung cancer, tumors, and body fractures. Thus, the demand for these devices is increasing in APAC.
The hospitals category accounted for the largest revenue share in 2021. This is majorly due to the wide applications of CT devices in hospitals for detecting diseases and their treatment. By offering precise anatomical imaging, this technology enhances diagnoses, averts needless medical procedures, enhances treatment, and is a financially sensible imaging tool.
It is also a crucial diagnostic tool, especially for simultaneously examining blood arteries, soft tissue, and bone. Internal injuries can be identified easily to save lives since CT imaging is quick and simple in the emergency department of hospitals. Moreover, in hospitals, the demand for CT scanners is increasing because it is the only way to evaluate conditions during brain trauma.
The main element predicted to drive market expansion is technological developments like the incorporation of artificial intelligence and the creation of accessories to improve the image quality produced by CT scanners. For instance, in May 2021, Siemens Healthineers introduced the Somatom X CT scanner. It is quick, with high-resolution of image quality and intelligent operation that streamlines procedures for patients and medical staff.
Some of the major players in the computed tomography market are GE Healthcare, Canon Medical Systems Corporation, NeuroLogica Corporation, FUJIFILM Corporation, Koning Corporation, Shenzhen Anke High-tech Co. Ltd., and Siemens Healthineers AG.