North America Computed Tomography (CT) Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

North America Computed Tomography (CT) Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The North America Computed Tomography (CT) Market size is estimated at USD 2.71 billion in 2023, and is expected to reach USD 3.63 billion by 2028, growing at a CAGR of 5.97% during the forecast period (2023-2028).

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.

North America Computed Tomography (CT) Market Trends

Oncology Segment Expected to Witness Healthy Growth

According to the National Cancer Institute (NIH), oncology is defined as a branch of medicine that specializes in the diagnosis and treatment of cancer. Similarly, a Computed Tomography (CT) scan is used for screening cancer. Thereby, it is used more often for oncology. Furthermore, 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.

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 market growth. The rise in funding for the treatment of cancer disorders is also expected to boost innovation and research leading to market growth.

Additionally, according to the National Institute of Health, the estimated investment for cancer was expected to be USD 7.18 billion in 2021 in the United States. This was a significant increase from the 2020 figures of USD 7.04 billion. 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.

United States is Expected to Have a Significant Growth Over the Forecast Period

The major factors attributed to the market's growth in the United States are technological advancements, coupled with relevant applications in early disease diagnosis, and the preventive intervention of chronic and acute disorders.

For instance, according to the National Institutes of Health report, the estimated investment for cardiovascular disorders was predicted to be USD 2.63 billion in 2022. This was a huge increase from the USD 2.50 billion 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, many developments are taking place in the region that includes product launches and approvals, partnerships, collaborations, mergers, and acquisitions related to 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.

Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the United States.

North America Computed Tomography (CT) Industry Overview

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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