Market Report

CT MARKET APPROACHES $8 BILLION

STAFF REPORT

The computed tomography (CT) market size is expected to be valued at $7.5 billion in 2022, according to a report from Mordor Intelligence. The report projects the market will experience a compound annual growth rate (CAGR) of 5.76% from 2022 to 2027.

“The increasing number of COVID-19 cases has increased the demand for CT scanners, which is expected to impact the CT market positively. For instance, in June 2020, the Abu Dhabi Health Services Company (SEHA) launched a 16-slice mobile CT scanner in the United Arab Emirates for diagnosing pneumonia in COVID-19 patients, indicating that developing countries are using CT scanners for the detection of COVID-19. As per an article titled ‘Chest CT features and their role in COVID-19’, published in June 2020, CT examination played an important auxiliary role in the diagnosis and subsequent management of COVID-19 patients. 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 the country during COVID-19. Governments worldwide are adopting policy measures to reduce the transmission of COVID-19, which is further decreasing the demand for imaging independent of COVID-19. Measures taken by hospitals for expanding crisis capacity are further reducing the amount of appropriate medical imaging that can be safely performed,” the report reads.

CT scans are considered the most critical diagnostics tool, especially for lung cancer and traumatic brain injuries, the report adds.

“The prevalence of these diseases is boosting the market’s growth. Other market drivers are the rising geriatric population, increasing chronic diseases, shifting medical care toward image-guided interventions and technological advancements,” according to the report. “As per the data published by the American College of Chest Physicians in July 2020, lung cancer is one of the most frequently diagnosed cancers. It accounts for 11.6% of the total cancer cases globally. Worldwide lung cancer incidents are estimated to increase by 38%, to 2.89 million, by 2030. According to the International Osteoporosis Foundation (IOF) 2019, one in three women and one in five men aged 50 years and above sustain osteoporosis-related fractures. Approximately 200 million people are affected by osteoporosis worldwide, resulting in a fracture every three seconds. A CT scan provides 3D images of bones and helps in better diagnosis and surgeries for orthopedics. Thus, with the rising burden of orthopedic disorders, the demand for CT scanners is also expected to grow.”

Many collaborations, partnerships and agreements are also taking place in the market.

“For instance, in December 2020, JSCN Medical Clinic LP and Siemens Healthineers Canada collaborated to open a diagnostic imaging center in Canada. The center will be equipped with magnetic resonance imaging (MRI), computer tomography (CT), X-rays and ultrasound. Such initiatives by various organizations are expected to influence the market’s growth. However, a lack of adequate reimbursement and stringent regulatory framework is expected to hinder the market’s growth,” the report reads.

“The North America computed tomography (CT) market is expected to register a CAGR of around 6% during the forecast period, 2018 to 2023. Computed tomography (CT) is primarily used in the cancer diagnosis process. In addition to its use in cancer, CT is widely used to help diagnose circulatory (blood) system diseases and conditions such as coronary artery disease (atherosclerosis), blood vessel aneurysms, and blood clots, spinal conditions, kidney and bladder stones, abscesses, inflammatory diseases such as ulcerative colitis and sinusitis, and injuries to the head, skeletal system, and internal organs. CT can be a life-saving tool for diagnosing illness and injury in both children and adults,” according to a Market Watch press release issued on March 24, 2022.•