April 15, 2020
As per the report titled ‘CT Scanner Market Size By Architecture, By Type, By Technology, By Application, Research, Veterinary, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global CT scanner market is projected to cross USD 7 billion by the year 2024.
Increased pervasiveness of chronic diseases such as cancer and cardiovascular disorders is the primary growth driver of global CT scanner market. Surging elderly population who are more prone to acquire chronic illness is also serving as major growth impetus for the market. Moreover, growing awareness regarding early disease detection along with rising patient inclination towards minimally invasive diagnostic tools are stimulating the market outlook.
CT scanners are applied for disease screening as well as for examining disease progression. Ongoing technological advancements in portable scanners and development of high slice technology will bolster the product adoption. However, availability of refurbished units, high product cost, and risk associated with exposure to radiation will hamper the market growth during the forecast period.
Based on the architecture, O-arm segment is expected to display strong growth trends during the predicted timeframe. Increased use of o-arm CT scanner during spinal instrument placement for visceral, vascular, and neurological injuries is driving the segment growth.
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As per the type, stationary CT scanner segment is anticipated to witness robust growth during the study period, owing to high product adoption in hospitals on account of mounting cases of chronic disorders and increase in surgeries. On the other hand, portable segment is expected to flourish due the convenience offered by the device.
Elaborating on the technology, cone beam based CT scanner market segment is poised to grow considerably during the forecast timeline. Rapid scans and reduced risks are the benefits encouraging the technology adoption. Extensive use in diagnosing dental ailments in tandem with growing popularity of cosmetic dentistry will propel the segmental share.
Speaking of the application spectrum, contract research organizations segment is expected to rapidly grow over the analysis period. Various benefits offered by CT scanners in both the early and later stages of clinical trials are encouraging the product adoption. Ability to detect inute changes in therapy progression is favoring the product use in CROs.
Considering the geographical landscape, U.S. CT scanner market is slated to amass prominent gains by the year 2025, owing to rising incidences of chronic conditions in the region. Favorable regulatory framework and growing awareness towards early diseases diagnosis and treatment are other factors contributing to the regional market growth.
Meanwhile, China CT scanner market is showing lucrative growth trends, supported by improving healthcare infrastructure and rise in baby boomer population prone to chronic disorders. Huge investments towards developing advanced CT scanning technologies is also playing a key role in stimulating the business scenario in China.
Prominent players of global CT scanner market are Accuray Inc., Carestream, Canon Medical Systems Corporation, CurveBeam, Hitachi Medical Corporation, GE Healthcare, Koning Corporation, Medtronic, Koninklijke Philips N.V., Neusoft, Samsung, Planmed Oy, Siemens Healthineers, United Imaging, Shenzhen Anke High-Tech Co., Ltd., and Xoran Technologies, LLC.
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