Bhvita Jani

In our latest video, Bhvita Jani, Principal Analyst at Signify Research, provides an overview of key insights from the recently published CT Equipment - World - 2024 report.

According to Signify Research’s latest report, the CT equipment market is projected to grow at a revenue CAGR of 5.5% from 2023 to 2028. The market continues to face challenges such as market saturation, workforce shortages and economic pressures. However, recent developments, such as the change in guidelines for cardiac CTA and continued implementation of lung cancer screening initiatives, will propel the industry forward.

In 2023, the MRI equipment market experienced an impressive 11.8% year-over-year revenue growth.

In 2023, the CT equipment market witnessed a 3.2% decline in revenue year-over-year.

ECR 2024 illuminated the horizon of medical imaging, unveiling a seamless fusion of product breakthroughs and refined techniques that herald a new era in radiology. The overarching theme of this year's European Congress of Radiology encapsulated the dynamic evolution of the medical imaging landscape to capture the latest pioneering advancements.

The medical FPD market, totalling just under 78,000 units in 2022, witnessed a slight retraction in both units and revenue. The most significant decline was seen in mobile general radiography, which was attributed to a surplus during the pandemic. A decline was also seen for mammography due to a shortage of semi-conductors, inflation hikes, and a market correction following elevated investment in breast imaging systems in 2021 as budgets returned post-COVID. However, the resurgence of elective procedures, coupled with pent-up demand, contributed to the positive uptake of mobile C-arm technology.