Global Computed Tomography Growth Opportunities

Global Computed Tomography Growth Opportunities

Increased Demand and Purchase Parameters on Multivariate Trends Propel Transformational Growth

RELEASE DATE
01-Jul-2021
REGION
North America
Research Code: MFC4-01-00-00-00
SKU: HC03428-NA-MT_25544

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Description

An estimated 375 million computed tomography (CT) procedures are carried out globally, increasing annually by 3%–4%. CT has become an indispensable tool in illness diagnosis and management, playing an instrumental role in COVID-19 management. The dynamic CT industry involves many participants introducing technological innovations frequently to match the rapidly evolving needs of clinicians, radiologists, and technologists. CT innovations such as spectral imaging, photon counting (to lower radiation dosage) with new detector materials, wide-area detector, and reconstruction algorithms for multi-detector CT technology are expected to drive the market toward quicker upgrades and equipment refresh.

Most developed economies, such as North America, Western Europe, Japan, and Australia, have a CT penetration of over 80% in their health systems. With CT being used for screening, intervention, and therapy planning and a considerable increase in CT procedures in the last three years, tertiary care hospitals are liaising with secondary care services to handle patient volume. The global CT market is witnessing a gradual shift from low-end CT scanners to mid-high and high-end scanners, primarily due to CT technology innovations in reducing radiation dosage and expanding clinical applications in vascular, oncology, cardiac, and breast cancer imaging.

High-end CT purchases by universities and public hospitals in North America, Western Europe, and Japan are expected to propel the high-end CT segment revenue. The proportion of 16-to-64-slice scanner shipments to diagnostic imaging centers and practices is increasing and anticipated to experience moderate growth during the forecast period (2020–2025).

CT was in the forefront of combat against the COVID-19 pandemic as the majority of countries immediately installed CT for lung screening. Despite new purchases, the capacity of traditional unit shipments per year did not yield its full strength. As such, a pent-up demand for CT to fulfill needs-based requirements is expected during the forecast period.

The COVID-19 pandemic further resulted in the postponement of elective surgeries, which took a toll on patient footfall in radiology and affected CT modality. Procedural volumes declined by 26% in 2020, creating a backlog of procedures. At present, health systems are performing more elective surgeries and addressing the backlog at varying capacities. This continuous surge in demand for procedures, coupled with new CT capacity purchases/replacements, is expected to bolster CT market growth throughout the forecast period, achieving pre-COVID-19 business performance breakeven by 2024 or 2025.

With reimbursement approval from the Current Procedural Terminology (CPT) and European regulations, cardiac imaging has taken a significant stride toward CT usage. Coronary CT angiography is the most commonly used imaging modality to diagnose pulmonary embolism and will remain so during the forecast period.

Author: Poornima Srinivasan

RESEARCH: INFOGRAPHIC

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Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Computed Tomography (CT) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Market Segmentation

Key Competitors for the CT Market

Key Growth Metrics for the CT Market

Growth Drivers for the CT Market

Growth Restraints for the CT Market

Forecast Assumptions

Revenue and Unit Shipment Forecast

Revenue Forecast by Product

Unit Shipment Forecast by Product

Revenue Forecast by Region

Unit Shipment Forecast by Region

Revenue and Unit Shipment Forecast Analysis

Revenue and Unit Shipment Forecast Analysis by Region

Revenue and Unit Shipment Forecast Analysis by Region (continued)

Revenue and Unit Shipment Forecast Analysis by Region (continued)

Pricing Trends Forecast by Product

Pricing Trends Forecast Analysis by Product

Distribution Channels

Competitive Environment

Revenue Share

Revenue Share Analysis

Key Growth Metrics for the Low-end CT Segment

Revenue and Unit Shipment Forecast—Low-end CT Segment

Revenue Forecast by Region—Low-end CT Segment

Unit Shipment Forecast by Region—Low-end CT Segment

Revenue and Unit Shipment Forecast Analysis—Low-end CT Segment

Revenue and Unit Shipment Forecast Analysis—Low-end CT Segment (continued)

Key Growth Metrics for the Mid-low CT Segment

Revenue and Unit Shipment Forecast—Mid-low CT Segment

Revenue Forecast by Region—Mid-low CT Segment

Unit Shipment Forecast by Region—Mid-low CT Segment

Revenue and Unit Shipment Forecast Analysis—Mid-low CT Segment

Revenue and Unit Shipment Forecast Analysis by Region—Mid-low CT Segment

Revenue and Unit Shipment Forecast Analysis by Region—Mid-low CT Segment (continued)

Key Growth Metrics for the Mid-high CT Segment

Revenue and Unit Shipment Forecast—Mid-high CT Segment

Revenue Forecast by Region—Mid-high CT Segment

Unit Shipment Forecast by Region—Mid-high CT Segment

Revenue and Unit Shipment Forecast Analysis—Mid-high CT Segment

Revenue and Unit Shipment Forecast Analysis by Region—Mid-high CT Segment

Revenue and Unit Shipment Forecast Analysis by Region—Mid-high CT Segment (continued)

Key Growth Metrics for the High-end CT Segment

Revenue and Unit Shipment Forecast—High-end CT Segment

Revenue Forecast by Region—High-end CT Segment

Unit Shipment Forecast by Region—High-end CT Segment

Revenue and Unit Shipment Forecast Analysis—High-end CT Segment

Revenue and Unit Shipment Forecast Analysis by Region—High-end CT Segment

Revenue and Unit Shipment Forecast Analysis by Region—High-end CT Segment (continued)

Key Growth Metrics for the Mobile CT Segment

Revenue and Unit Shipment Forecast—Mobile CT Segment

Revenue Forecast by Region—Mobile CT Segment

Unit Shipment Forecast by Region—Mobile CT Segment

Revenue and Unit Shipment Forecast Analysis—Mobile CT Segment

Growth Opportunity 1: Increasing Use of Traditional and Mobile CT in Lung Cancer Screening

Growth Opportunity 1: Increasing Use of Traditional and Mobile CT in Lung Cancer Screening (continued)

Growth Opportunity 2: CT Penetration in Cardiac Centers, Particularly Coronary CT Angiography (CCTA) and Fractional Flow Reserve (FFR) Procedures

Growth Opportunity 2: CT Penetration in Cardiac Centers, Particularly Coronary CT Angiography (CCTA) and Fractional Flow Reserve (FFR) Procedures (continued)

Growth Opportunity 3: AI-powered CT Scanners Are Promising Cancer Detection Tools

Growth Opportunity 3: AI-powered CT Scanners Are Promising Cancer Detection Tools (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Related Research
An estimated 375 million computed tomography (CT) procedures are carried out globally, increasing annually by 3%–4%. CT has become an indispensable tool in illness diagnosis and management, playing an instrumental role in COVID-19 management. The dynamic CT industry involves many participants introducing technological innovations frequently to match the rapidly evolving needs of clinicians, radiologists, and technologists. CT innovations such as spectral imaging, photon counting (to lower radiation dosage) with new detector materials, wide-area detector, and reconstruction algorithms for multi-detector CT technology are expected to drive the market toward quicker upgrades and equipment refresh. Most developed economies, such as North America, Western Europe, Japan, and Australia, have a CT penetration of over 80% in their health systems. With CT being used for screening, intervention, and therapy planning and a considerable increase in CT procedures in the last three years, tertiary care hospitals are liaising with secondary care services to handle patient volume. The global CT market is witnessing a gradual shift from low-end CT scanners to mid-high and high-end scanners, primarily due to CT technology innovations in reducing radiation dosage and expanding clinical applications in vascular, oncology, cardiac, and breast cancer imaging. High-end CT purchases by universities and public hospitals in North America, Western Europe, and Japan are expected to propel the high-end CT segment revenue. The proportion of 16-to-64-slice scanner shipments to diagnostic imaging centers and practices is increasing and anticipated to experience moderate growth during the forecast period (2020–2025). CT was in the forefront of combat against the COVID-19 pandemic as the majority of countries immediately installed CT for lung screening. Despite new purchases, the capacity of traditional unit shipments per year did not yield its full strength. As such, a pent-up demand for CT to fulfill needs-based requirements is expected during the forecast period. The COVID-19 pandemic further resulted in the postponement of elective surgeries, which took a toll on patient footfall in radiology and affected CT modality. Procedural volumes declined by 26% in 2020, creating a backlog of procedures. At present, health systems are performing more elective surgeries and addressing the backlog at varying capacities. This continuous surge in demand for procedures, coupled with new CT capacity purchases/replacements, is expected to bolster CT market growth throughout the forecast period, achieving pre-COVID-19 business performance breakeven by 2024 or 2025. With reimbursement approval from the Current Procedural Terminology (CPT) and European regulations, cardiac imaging has taken a significant stride toward CT usage. Coronary CT angiography is the most commonly used imaging modality to diagnose pulmonary embolism and will remain so during the forecast period. Author: Poornima Srinivasan
More Information
No Index No
Podcast No
Author Poornima Srinivasan
Industries Healthcare
WIP Number MFC4-01-00-00-00
Is Prebook No
GPS Codes 9600-B1,9825-B1,9A06-B1,9566-B1,9570-B1,99CC-B1,99BE-B1,9614-B1