|Product Code: ETC362784||Publication Date: Aug 2023||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 75||No. of Figures: 35||No. of Tables: 20|
India Ct Scanners Market registered a decline of -20.49% in value shipments in 2022 as compared to 2021 and an increase of 13.55% CAGR in 2022 over a period of 2017. In Ct Scanners Market India is becoming more competitive as the HHI index in 2022 was 2264 while in 2017 it was 2408. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Ct Scanners Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Ct Scanners Market in 2022 was 43.22 while in 2017 it was 7.52. China, USA, Germany, Japan and Switzerland were among the top players of the market in 2022, where China acquired the largest market share of 33.51% with a shipment value of 47.02 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 36.11% with the shipment value of 29.73 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
The size of the India CT scanners market was estimated to be USD 267.8 million and is expected to reach USD 375.7 million, growing at a CAGR of 5.9% during the forecast period. The key drivers for this growth are technological advancements, rising prevalence of chronic diseases and increasing investments in healthcare infrastructure development.
The India CT scanners market is witnessing substantial growth due to several factors that are contributing to the increased adoption of advanced medical imaging technologies. Firstly, the rising prevalence of chronic diseases, including cardiovascular conditions, cancer, and neurological disorders, has led to an increased demand for precise and timely diagnostic solutions. CT scanners play a crucial role in providing detailed cross-sectional images of internal organs and tissues, facilitating accurate diagnosis and treatment planning. Secondly, the growing investments in the healthcare infrastructure and the expansion of diagnostic imaging centers and hospitals have fueled the demand for CT scanners. The market is witnessing the introduction of high-resolution CT scanners with advanced features, such as low-dose imaging, 3D reconstruction, and multi-slice capabilities, enabling faster and more efficient scans. Additionally, the focus on preventive healthcare and early detection of diseases has led to an increased emphasis on regular health check-ups, driving the demand for medical imaging equipment like CT scanners. Moreover, government initiatives and policies aimed at improving healthcare accessibility and affordability have further propelled market growth. These drivers are fueling the India CT scanners market as the healthcare sector prioritizes early and accurate diagnosis for better patient outcomes.
In the India CT scanners market, several challenges need to be addressed to promote the adoption of advanced medical imaging technologies and improve healthcare outcomes. One of the significant challenges is the high cost of CT scanners and associated equipment. High-end CT scanners with advanced features can be expensive, making them inaccessible to smaller healthcare facilities and remote areas. Manufacturers and suppliers need to explore cost-effective solutions to improve the affordability and accessibility of CT scanners across various healthcare settings. Additionally, there is a shortage of skilled radiologists and technicians to operate and interpret CT scan results. This shortage can lead to delays in diagnosis and treatment, affecting patient care. To address this, there is a need for increased training and capacity-building initiatives to develop a skilled workforce in the field of radiology. Another challenge is the limited awareness and acceptance of CT scans among certain patient populations and in rural areas. Educating patients and healthcare professionals about the benefits of CT scans and dispelling misconceptions can promote wider adoption and early detection of medical conditions. Moreover, regulatory approvals and compliance with evolving medical device regulations also pose challenges in the India CT scanners market. Manufacturers need to navigate complex regulatory processes to bring their devices to the market and ensure their compliance with safety and quality standards. By addressing these challenges and collaborating with healthcare providers, policymakers, and regulatory authorities, stakeholders in the India CT scanners market can promote the adoption of advanced medical imaging technologies and improve diagnostic capabilities across the country.
The India CT scanners market experienced significant challenges and opportunities due to the COVID-19 pandemic. In the initial phases, hospitals and healthcare facilities faced overwhelming patient loads due to COVID-19 cases, diverting resources and attention from other medical procedures. Non-urgent elective procedures, including CT scans, were postponed to prioritize pandemic response. This led to a decline in demand for CT scanners during the early stages of the pandemic. However, as the healthcare system adapted to the pandemic and implemented safety protocols, the demand for CT scans for COVID-19 diagnosis and monitoring increased. CT imaging played a crucial role in assessing lung involvement and disease progression in COVID-19 patients. Moreover, the importance of CT scans for diagnosing other medical conditions and the need for advanced imaging technologies in healthcare also drove demand. The market saw increased interest in portable and mobile CT scanners for use in field hospitals and remote areas. As vaccination efforts progress and the healthcare sector stabilizes, the India CT scanners market is expected to witness growth, driven by the continued need for medical imaging and advancements in CT technology.
In the India CT scanners market, several key players play a crucial role in providing advanced medical imaging solutions to healthcare institutions and diagnostic centers. GE Healthcare India is a significant player known for its diverse portfolio of CT scanners, offering cutting-edge technology and high image quality for accurate diagnoses. They focus on delivering efficient and patient-friendly scanning solutions. Siemens Healthineers India is another major player offering a wide range of CT scanners with innovative features, such as dual-energy imaging and low-dose protocols. They are committed to enhancing clinical outcomes and workflow efficiency. Additionally, Philips India Limited is a key player in the market, providing CT scanners with advanced software applications for specialized imaging, such as cardiac and neurology. These key players actively collaborate with hospitals, clinics, and radiology centers to ensure the widespread availability of CT scanning technology for improved healthcare services. Their dedication to research and development, clinical applications, and customer support has established them as influential players in the India CT scanners market.