Spain Computed Tomography Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 201.59 Million |
Market Size (2029) | USD 263.47 Million |
CAGR (2024 - 2029) | 5.50 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Spain Computed Tomography Market Analysis
The Spain Computed Tomography Market size is estimated at USD 201.59 million in 2024, and is expected to reach USD 263.47 million by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).
The COVID-19 pandemic has a significant impact on the computed tomography market in Spain which was majorly due to the restrictions on non-essential procedures. This resulted in less utilization of CT scans for non-emergency diagnostic applications. However, CT scans were used to a certain extent in diagnosing coronavirus infection in the lungs. With the increasing Spanish population falling prey to COVID-19, there was significant demand for chest CT scans in the country which helped the market keep a steady pace during the pandemic. Moreover, as per the data published by Organization for Economic Co-operation and Development, the mean waiting times for specialist assessment for hip replacement in Spain increased from 146.7 days in the year 2019 to 153.6 days in the year 2020. Similarly, for knee replacement procedures in the country, the mean waiting time surged to 207.5 days in 2020 from 190.6 in 2019. Such growing waiting times have delayed the treatment procedures and early diagnosis of the conditions. However, as computed tomography imaging can help in the efficient analysis of knee or hip scans, the demand for computed tomography imaging across medical facilities in Spain is anticipated to increase in the post-pandemic phase.
The major factors attributing to the growth of Spain's computed tomography market are the increasing incidence of orthopedic diseases, dental and cardiovascular surgeries, and cancer. In addition, rising technological advancements coupled with the increasing spectrum of applications of these devices are propelling their demand in the country.
There has been an increasing investment in the diagnostic imaging sector in Spain which is acting as a beneficial factor for the computed tomography market. For instance, in July 2021, Quibim, a Spanish company involved in healthcare imaging, participated in a EUR 7.5 million High Sensitivity Molecular Imaging project IMAS (Imagen Molecular de Alta Sensibilidad) to build an innovative total-body PET/CT scanner for simultaneous whole-body imaging in a Temporary Business Association (TBA) backed by GE Healthcare experts. Thus, the increasing investments in the country within the concerned market will drive the market during the forecast period.
Spain Computed Tomography Market Trends
This section covers the major market trends shaping the Spain Computed Tomography Market according to our research experts:
Oncology is Expected to Dominate the Application Segment
The major factors attributing to the growth of this segment in the country include the greater applications of computed tomography imaging systems in diagnosing cancer cases and the rise in the prevalence of cancer in Spain. Many market players are engaging in strategic initiatives that can boost the market growth.
There has been an increase in the prevalence of cancer cases in Spain over the past few years. According to the International Agency for Research on Cancer published Globocan 2020 report, the estimated five-year prevalence of breast cancer cases in 2020 was 137,270 in Spain. Additionally, according to the same report, the estimated five-year prevalence of all cancer cases in 2020 was 858,220 in Spain. The high burden of different types of cancer disorders in Spain is expected to boost the demand for computed tomography for diagnosis purposes. This is expected to boost the market growth during the forecast period.
There are many research studies that are taking place in Spain in the field of computed tomography imaging for cancer diagnosis. For instance, in a study titled, 'Real-life use of ramucirumab in gastric cancer in Spain: the RAMIS study', published in February 2021, in Spain, the prevalence of gastric adenocarcinomas is 7,810 cases per year, resulting in more than 5,675 deaths annually. The most used diagnostic procedures were computerized tomography (CT) (97.2%) and endoscopy (94.6%). Such studies encourage the use of computed tomography to be used for diagnosis.
Hence, with the above-mentioned factors, it is believed that the Oncology will dominate the application segment of computed tomography market in Spain.
Spain Computed Tomography Industry Overview
The computed tomography (CT) market is consolidated due to the presence of a few major players, including Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers. These major players hold a significant share in the industry. Most of the players focus on bringing technologically advanced products into the market to acquire the maximum market share.
Spain Computed Tomography Market Leaders
-
GE Healthcare
-
Canon Medical System
-
Koninklijke Philips N.V.
-
Siemens AG
-
Fujifilm Holdings Corporation
*Disclaimer: Major Players sorted in no particular order
Spain Computed Tomography Market News
- In November 2021, Siemens Healthineers launched the NAEOTOM Alpha, the world's first photon-counting CT scanner. The system is cleared for clinical use in the United States and Europe.
- In May 2021, Philips and Viamed, one of Spain's leading private hospital groups, announced that Philips has been selected to install the latest advanced diagnostic imaging solutions in clinical centers throughout Viamed's network, supporting the group's healthcare professionals to further improve patient care in Spain.
Spain Computed Tomography Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population and Chronic Disease Burden
4.2.2 Technological Advancements in Computed Tomography
4.3 Market Restraints
4.3.1 High Cost Associated With CT Scan Procedure and Equipment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Low Slice
5.1.2 Medium Slice
5.1.3 High Slice
5.2 By Application
5.2.1 Oncology
5.2.2 Neurology
5.2.3 Cardiovascular
5.2.4 Musculoskeletal
5.2.5 Other Applications
5.3 By End User
5.3.1 Hospitals
5.3.2 Diagnostic Centers
5.3.3 Other End Users
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 Fujifilm Holdings Corporation
6.1.3 GE Healthcare
6.1.4 Koninklijke Philips NV
6.1.5 Siemens Healthineers
6.1.6 CareStream Health
6.1.7 Planmed Oy
6.1.8 Samsung Electronics Co. Ltd (Samsung Medison)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Spain Computed Tomography 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. Spain Computed Tomography (CT) Market is segmented by Type (Low Slice, Medium Slice, High Slice), Application (Oncology, Neurology, Cardiovascular, Musculoskeletal, Other Applications), and End User (Hospitals, Diagnostic Centers, Other End Users). 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 |
Spain Computed Tomography Market Research FAQs
How big is the Spain Computed Tomography Market?
The Spain Computed Tomography Market size is expected to reach USD 201.59 million in 2024 and grow at a CAGR of 5.5% to reach USD 263.47 million by 2029.
What is the current Spain Computed Tomography Market size?
In 2024, the Spain Computed Tomography Market size is expected to reach USD 201.59 million.
Who are the key players in Spain Computed Tomography Market?
GE Healthcare, Canon Medical System, Koninklijke Philips N.V., Siemens AG and Fujifilm Holdings Corporation are the major companies operating in the Spain Computed Tomography Market.
What years does this Spain Computed Tomography Market cover, and what was the market size in 2023?
In 2023, the Spain Computed Tomography Market size was estimated at USD 191.08 million. The report covers the Spain Computed Tomography Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Computed Tomography Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Computed Tomography Industry Report
Statistics for the 2024 Spain Computed Tomography market share, size and revenue growth rate, created by ÌÇÐÄvlog´«Ã½â„¢ Industry Reports. Spain Computed Tomography analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.