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

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

North America computed tomography (CT) market is poised to grow at a CAGR of 8.2% over the forecast period.

The studied market was impacted by the pandemic. Despite the fact that the pandemic has had an impact on elective cases that call for imaging, patients with COVID-19 have seen an upsurge in demand for CT scans. According to a June 2020 paper titled "Chest CT characteristics and their relevance in COVID-19," CT imaging was a crucial auxiliary tool in the diagnosis and subsequent treatment of COVID-19 patients. In the RT-PCR assay, CT can reduce the possibility of false-negative results. The country will experience an upsurge in demand for CT scans during COVID-19 as a result of these findings. The Society of Thoracic Radiology, the American College of Radiology, and the Radiological Society of North America provided additional guidance for the use of plain chest radiography and CT imaging for patients suspected to have COVID-19, according to an article titled "The Usefulness of Chest CT Imaging in Patients with Suspected or Diagnosed COVID-19" published in the Chest Journal in April 2021. The signs were deemed nonspecific, and normal CT imaging results did not completely rule out the infection, hence these guidelines advise against using chest CT imaging routinely to diagnose COVID-19, affecting the country's healthcare system in the process. COVID-19 has impacted the computed tomography market as there were distribution channel disruptions for the majority of radiopharmaceuticals, delays in clinical studies, postponement of various surgeries and imaging procedures, an increase in teleradiology, and several staff-related limitations.

The major factors for the growth of the North American computed tomography (CT) market include the rising geriatric population and increase in the incidences of chronic diseases, increase in the shift of medical care toward image-guided interventions, and technological advancements. The prevalence of diseases like cardiovascular diseases has increased significantly in Canada. For instance, according to a July 2020 article appearing in the Canadian Journal of Cardiology, there have been increases in congenital heart disease (7.2 %), acquired valvular heart disease (31.1%), and vascular cognitive impairment (23.4 %) in the Canadian population over the past ten years. The high burden of cardiovascular diseases is expected to boost the demand for computed tomography equipment for diagnosis leading to the segment's growth. Similarly, according to the Alzheimer Society of Canada 2021, over 500,000 Canadians lived with dementia. By 2030, this number is expected to rise to 912,000. Thus, increasing prevalence of disease are expected to increase market growth.

Furthermore, technological advancement is another factor in market growth. For instance, the United States Food and Drug Administration approved a significant technological advancement for the Siemens NAEOTOM Alpha computed tomography imaging device in September 2021. This device uses the emerging CT technology of photon-counting detectors that can measure each individual X-ray that passes through a patient's body, as opposed to current systems that use detectors that measure the total energy contained in many X-rays at once. By doing this, it is possible to gather more specific information about the patient and use it to produce images that contain fewer details that are useless for inspection and analysis. During the anticipated time, the market in the region will grow as a result of such technological innovation in the relevant market. Thus, the abovementioned factors are expected to increase market growth.

However, the lack of adequate reimbursement and stringent regulatory framework are expected to hinder the market growth.

Key Market TrendsThe Oncology Segment is Expected to Account for Largest Market Share, during the Forecast Period

The demand for cancer applications for computed tomography has been increasing significantly over the last few years in the region. Factors, such as the increasing burden of cancer cases, the availability of advanced technologies, and the advantages of computed tomography systems, are expected to boost the market growth. The rise in funding for the treatment of cancer disorders is also expected to boost innovation and research leading to market growth. CT scans have been recommended to diagnose various forms of cancer more accurately. According to an article titled, ‘Artificial intelligence is improving the detection of lung cancer, published in November 2020, Studies at the University of California, Los Angeles, and elsewhere show that regular screening of at-risk populations can detect many cases of lung cancer much earlier, reducing mortality by 20–30%. Also, The United States Preventive Services Task Force, a volunteer group that makes recommendations for clinical preventative services, now recommends annual CT screening in groups at high risk of lung cancer. Such encouragements are likely to boost the growth of the studied market.

Additionally, according to the National Institutes of Health, the estimated investment for cancer was expected to be USD 7,176 million in 2021 in the United States. This was a significant increase from the 2020 figures of USD 7,035 million. The increase in the amount of investment in disease research is expected to boost the demand for computed tomography usage since it is a novel method to identify and diagnose cancer diseases. This is expected to boost market growth. According to the International Agency for Research on Cancer report, the total number of cancer cases in Canada in 2020 was 274,364. The report also stated that the number of deaths amounted to 86,684. The high burden of cancer disorders is expected to boost the market growth for computed tomography devices for diagnosis. Many developments are taking place in the region that includes product launches and approvals, partnerships, collaborations, mergers, and acquisitions in the market for cancer computed tomography devices. For instance, in August 2021, the West Virginia University Health System launched the nation’s first fully mobile low-dose CT lung cancer screening program (LUCAS) targeting rural areas of the Mountain State, equipped with an artificial intelligence-powered computed tomography scanner. The health system has collaborated with Canon Medical Systems USA and the Lung Cancer Initiative at Johnson & Johnson to create the program.

Hence, due to the above developments in the use of computed tomography, innovation is expected to improve the market growth in this segment.

United States is Expected to Dominate the Market Over the Forecast Period

The major factors attributed to the growth of the market in the United States are technological advancements, coupled with relevant applications in early disease diagnosis, and the preventive intervention of chronic, as well as acute disorders. The estimated investment for cardiovascular disorders was predicted to be USD 2,622 million in 2022, per the National Institutes of Health 2020 report. This was a huge increase from the USD 2,499 million estimates for 2021. CT produces accurate images of the heart and its arteries quickly. To assess the risk of heart disease, the test may be used to identify or diagnose plaque buildup in the coronary arteries. This will increase the need for CT scans in the treatment of disease. Furthermore, a growing number of neurological disorders, such as brain tumors, are expected to propel market growth. According to the National Brain Tumor Society, there were 700,000 brain tumor cases in the United States in 2020, and 87,000 more cases are anticipated shortly. Market players are focusing on growth strategies, such as product launches, innovations in existing products, and mergers and acquisitions. In July 2020, United Imaging announced a new technology, known as HYPER Iterative Functionality, which advances molecular imaging for its uMI 550 digital positron emission tomography (PET)/computed tomography (CT) scanner. The recent trend of makeshift hospitals and temporary screening centers is expected to fuel the demand for portable and mobile CT scanners. In 2020, United Imaging announced to deployment of readily transportable computed tomography (CT) scanners in the United States to help in the fight against COVID-19.

Thus, the abovementioned factors are expected to increase the market growth.

Competitive Landscape

The North American computed tomography (CT) market is a moderately competitive, owing to the presence of several major players. The major market players, such as Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers, hold significant shares in the industry. Most of the major players are focusing on bringing technologically advanced products into the market, in order to acquire the maximum shares.

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