Market Trends of North America Computed Tomography (CT) Industry
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 7,176 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.
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 2,622 million in 2022. 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, 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.
