Market Size of Europe CT Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 2.19 Billion |
Market Size (2029) | USD 2.94 Billion |
CAGR (2024 - 2029) | 6.16 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe CT Market Analysis
The Europe CT Market size is estimated at USD 2.19 billion in 2024, and is expected to reach USD 2.94 billion by 2029, growing at a CAGR of 6.16% during the forecast period (2024-2029).
COVID-19 significantly impacted the growth of the market over the forecast period. As per an NCBI article published in June 2021, CT examination played an important auxiliary role in the diagnosis and subsequent management of COVID-19 patients in Europe. CT scans can reduce the chance of false-negative results in the RT-PCR assay. These findings led to increased demand for CT scans in Europe during COVID-19, thereby having a significant impact on the growth of the market. Furthermore, the demand for CT in Europe is expected to remain stable due to the increased emphasis on chronic disease diagnosis during the post-pandemic period, contributing to the market's growth over the forecast period.
The significant factors for the European computed tomography (CT) market include the rising geriatric population and increase in incidences of chronic diseases, an increase in the shift of medical care toward image-guided interventions, and technological advancements in the region. The burden of chronic diseases is on the rise across Europe, and medical imaging procedures play a crucial role in the accurate diagnosis of these diseases. Chronic diseases, such as heart disease, stroke, cancer, diabetes, obesity, and arthritis, are among the most common, expensive, and preventable of all health problems. As per the data provided in the British Heart Foundation report in August 2022, 6.4 million people are living with a heart or circulatory disease, and 12 infants are diagnosed with a heart defect. Moreover, according to the data published by the World Data Atlas, in 2021, the population aged 65 years and older was 23.6% in Italy, and this target population aged 65 years and older in Italy increased from 11.5 % in 1972 to 23.6 % in 2021, which is growing at an average annual rate of 1.47%. This increase in the aging population in the country is anticipated to suffer from chronic diseases requiring an increased rate of diagnosis, which is anticipated to drive the studied market growth over the forecast period.
Additionally, the rising product launches by various key market players are expected to contribute to the growth of the market. For instance, in November 2021, Siemens Healthcare launched a photon-counting CT scanner called Naeotom Alpha, and this system is cleared for clinical use in Europe.
However, expensive procedures and instruments and a stringent regulatory framework are expected to restrain the growth of the market.
Europe CT Industry Segmentation
As per the scope of the report, computed tomography (CT) is an imaging process that customizes special X-ray equipment to generate a sequence of exhaustive images, or scans, of areas inside the body. Also called computerized axial tomography (CAT) scanning, it is primarily used in cancer diagnosis. The Europe CT market is divided into four regions: Germany, the United Kingdom, France, Spain, Italy, and the rest of Europe. The report offers the value (in USD million) for the above segments.
By Type | |
Low Slice | |
Medium Slice | |
High Slice |
By Application | |
Oncology | |
Neurology | |
Cardiovascular | |
Musculoskeletal | |
Other Applications |
By End User | |
Hospitals | |
Diagnostic Centers | |
Other End-Users |
Geography | |
United Kingdom | |
Germany | |
France | |
Spain | |
Italy | |
Rest of Europe |
Europe CT Market Size Summary
The European CT market is poised for significant growth over the forecast period, driven by several key factors. The rising geriatric population and the increasing prevalence of chronic diseases are central to this expansion, as medical imaging becomes crucial for accurate diagnosis and management. The shift towards image-guided interventions and technological advancements further bolster market growth. The COVID-19 pandemic underscored the importance of CT scans in diagnosing and managing the virus, leading to a surge in demand. This trend is expected to continue as the focus on chronic disease diagnosis remains strong in the post-pandemic landscape. Despite challenges such as high costs and stringent regulations, the market is supported by ongoing product innovations and strategic initiatives by major players like GE Healthcare, Siemens AG, and Koninklijke Philips NV.
Germany is anticipated to lead the European CT market, fueled by a high incidence of chronic conditions and a supportive regulatory environment. The country's aging population and the increasing demand for effective diagnostic solutions contribute to its market dominance. The competitive landscape is characterized by the presence of several key players, with ongoing advancements in imaging technologies enhancing market offerings. The introduction of new products, such as Siemens Healthcare's photon-counting CT scanner and GE Healthcare's positron emission tomography/CT platform, highlights the dynamic nature of the market. As the burden of chronic diseases and the need for early diagnosis continue to rise, the European CT market is expected to experience robust growth, with Germany at the forefront.
Europe CT Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Incidence of Cancer & Chronic Diseases
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1.2.2 Advancement in Technology
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1.3 Market Restraints
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1.3.1 Expensive Procedures and Instruments
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1.3.2 Stringent Regulatory Framework
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Value - in USD Million)
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2.1 By Type
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2.1.1 Low Slice
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2.1.2 Medium Slice
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2.1.3 High Slice
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2.2 By Application
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2.2.1 Oncology
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2.2.2 Neurology
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2.2.3 Cardiovascular
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2.2.4 Musculoskeletal
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2.2.5 Other Applications
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Diagnostic Centers
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2.3.3 Other End-Users
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2.4 Geography
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2.4.1 United Kingdom
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2.4.2 Germany
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2.4.3 France
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2.4.4 Spain
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2.4.5 Italy
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2.4.6 Rest of Europe
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Europe CT Market Size FAQs
How big is the Europe CT Market?
The Europe CT Market size is expected to reach USD 2.19 billion in 2024 and grow at a CAGR of 6.16% to reach USD 2.94 billion by 2029.
What is the current Europe CT Market size?
In 2024, the Europe CT Market size is expected to reach USD 2.19 billion.