Argentina Computed Tomography Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Argentina Computed Tomography Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Argentina computed tomography (CT) market was valued at USD 120.67 million in 2021 and is projected to register a CAGR of 4.8% during the forecast period (2022-2027).

The COVID pandemic had an adverse effect on the market. According to a research paper titled "COVID-19 Impact Among Spine Surgeons in Latin America," which was published in Global Spine Journal in May 2020, COVID-19 has an impact on the regular working practices and financial situation of spine surgeons in Latin America. This cross-sectional study's objective was to evaluate how the COVID-19 outbreak affected Latin American spine doctors. Argentina had the most respondents, followed by Brazil, Chile, and then Mexico. Additionally, a study named "The impact of the COVID-19 pandemic on cancer care in the public health subsector, province of Santa Fe, Argentina" published in Ecancer Medical Science in July 2021 came to the conclusion that all of the parameters under consideration showed reductions. The impact was particularly noticeable in screening, where there were reductions in the volume of procedures performed between 56% and 87%. There was a 26% decrease in diagnostic rates. Treatment was the variable in the study that had the least impact, dropping by 3%. Such a drop has directly affected the computed tomography market by having an effect on the diagnostic imaging industry. The aforementioned elements so demonstrate that COVID-19 had an adverse effect on the expansion of the computed tomography market in the nation. However, as the next procedures are treated, the market is anticipated to expand.

The computed tomography market in Argentina is majorly driven by the growing geriatric population, and research studies in the country. According to the United Nations Population Fund’s World Population Dashboard, 2021’s Data in Argentina large proportion of the population living is having aged between 15-64 years and accounts for 64.2% and 11.5% of the population of the country has 65 years and above age. Since, the elder population have increased risk of chronic diseases, the demand for CT scan devices are expected to increase in future in the country. It is anticipated that several research projects being carried out throughout the nation would foster creativity. For instance, in February 2021, patients admitted to Rosario, Argentina's Hospital Clemente Alvarez participated in a study titled "A Novel Automated Calculation of Basal Cistern Effacement Status on Computed Tomographic Imaging in Traumatic Brain Injury." According to the study, computed tomography (CT) imaging provides clear descriptions of the lesions caused by traumatic brain injury (TBI). The growth of the category is anticipated to be accelerated over the projected period by studies like these that use CT scans for neurology research. Similar to this, Instituto Oulton in Cordoba, Argentina, released a paper in May 2021 with the title "Use of Computed Tomography Scan to Rule Out Phantom Thrombus in the Left Atrial Appendage." Multidetector computed tomography (CT) scans have some benefits, according to the study, including the ability to obtain 3D reconstruction and examine additional structures in relation to the left atrial appendage. Additionally, using a delayed acquisition methodology and the prone position during a CT scan are safe ways to rule out a false thrombus. Such studies will probably accelerate market expansion. Thus, the abovementioned factors are expected to increase the market growth.

However, the lack of proper reimbursement and stringent regulatory approval procedures, and the high cost of equipment and CT scan procedures, are expected to hinder the market growth in Argentina.

Key Market TrendsMedium Slice Segment is Expected to Hold a Significant Market Share Over the Forecast Period

These scanners, which have 64 and 32 slices respectively, are considered medium slice CT scanners. Compared to using a standard X-ray, the 64-slice CT scan can provide the doctor with a greater understanding of the size, form, and location of soft tissue structures. These CT scans also aid in the diagnosis of liver, lung, coronary artery, and other organ problems as well as tumors, cysts, and other abnormalities. The increasing prevalence of cancer is one of the factors in market growth. Argentina had 130,878 new cases of cancer in 2020, and by 2040, that number is projected to climb to 185,606 instances, according to Globocan 2020. The anticipated increase in cancer cases will spur the use of CT scanners in the nation because they are used to detect various types of cancer. The market under review is therefore anticipated to grow significantly throughout the projected period.

The most important strategic actions taken by market players are regional and product portfolio expansions. For instance, Canon Medical Systems Argentina SA, a subsidiary of one of the industry leaders in digital radiography systems, was founded in Argentina to help the company grow its operations there. United Imaging, a platinum sponsor at the virtual RSNA conference, unveiled the uCT ATLAS in December 2020. It is an ultra-wide bore computed tomography device (64 slices) that uses cutting-edge AI technology. Over 10,500 installations were made by United Imaging in total, including the first installations in several nations, including Argentina. Thus the abovementioned factors are expected to increase the market growth.

Competitive Landscape

Argentina computed tomography market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Carestream Health, Canon Medical Systems Corporation (Toshiba Corporation), Koninklijke Philips NV, Siemens Healthineers AG, and Planmeca Group (Planmed OY) among others.

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