Market Trends of United States Computed Tomography Industry
This section covers the major market trends shaping the US Computed Tomography Market according to our research experts:
Oncology Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Over the past few years, computed tomography applications for cancer have seen a major rise in demand in the United States. The market is anticipated to increase as a result of factors including the rising incidence of cancer, the accessibility of cutting-edge technology, and the benefits of computed tomography systems. The increase in financing for cancer illnesses is also anticipated to spur innovation and research, resulting in market expansion. For a more accurate cancer diagnosis, CT scans have been suggested. According to an article titled "Artificial Intelligence is Improving the Detection of Lung Cancer" published in November 2020. routine screening of at-risk populations can detect many cases of lung cancer much earlier, reducing mortality by 20% - 30%. Additionally, the United States Preventive Treatments Task Force, a volunteer organization that suggests clinical preventive services, recommends yearly CT screening in populations with a high risk of developing lung cancer. Such encouragements are probably going to help the market to grow.
Furthermore, the National Institutes of Health predicted that in 2021, investments in cancer research would total USD 7,176 million. In comparison to the 2020 figures of USD 7,035 million, this was a huge gain. Given that computed tomography is a revolutionary technology for identifying and diagnosing malignant disorders, an increase in the amount of expenditure in disease research is anticipated to raise demand for its use. This should accelerate market expansion. The market for cancer computed tomography equipment is seeing a number of developments, including new releases and approvals, partnerships, collaborations, mergers, and acquisitions. For instance, the West Virginia University Health System introduced the first entirely mobile low-dose CT lung cancer screening programme (LUCAS) in August 2021 with a computed tomography scanner powered by artificial intelligence to focus on rural areas of the Mountain State. The programme was developed in cooperation between the health system, Canon Medical Systems USA, and the Johnson & Johnson Lung Cancer Initiative. As a result of the aforementioned advancements in computed tomography application is anticipated to enhance market growth in this sector.