Canada CT Scan Market Analysis

Canada CT Scan Market Executive Summary

Canada CT Scan market was valued at $368.8 Mn in 2023 and is predicted to grow at a CAGR of 7.87% from 2023 to 2030, to $626.75 Mn by 2030

A CT scan, or computed tomography scan, is a sophisticated imaging procedure that uses X-rays to produce detailed cross-sectional images of the body. Unlike traditional X-rays, CT scans capture multiple views from various angles, which a computer then processes into a three-dimensional representation of internal structures such as organs, bones, and soft tissues. Before the scan, patients may prepare by wearing a gown and removing metal objects. Depending on the type of scan, they might need to ingest a contrast material to enhance the visibility of specific tissues. During the scan, patients lie on a table that moves through a donut-shaped scanner while X-ray images are taken. Afterward, a radiologist interprets the images to diagnose conditions like cancer, heart disease, bone fractures, internal bleeding, and injuries. While CT scans offer detailed diagnostic capabilities, they involve radiation exposure and can be costly, though advancements have minimized risks and enhanced safety. Other imaging options like X-rays, ultrasound, and MRI scans are considered based on specific medical needs and radiation concerns.

Among Canadians aged 65 and older, chronic diseases are highly prevalent, affecting 73% of this demographic. These conditions include hypertension affecting 65.7%, periodontal disease at 52.0%, and osteoarthritis at 38.0%. Ischemic heart disease impacts 27.0%, diabetes 26.8%, and osteoporosis 25.1% of this population. Cancer is prevalent in 21.5% of older Canadians, followed by chronic obstructive pulmonary disease (COPD) at 20.2%, asthma at 10.7%, and mood and anxiety disorders at 10.5%. These statistics underscore the significant burden of chronic illnesses among older Canadians, highlighting the importance of targeted healthcare strategies and support systems for managing these conditions effectively.

The market therefore is driven by significant factors like the aging population, increasing cancer rates, and technological advancement. However, cost considerations, limited access to CT scanners, and radiation exposure concerns restrict the growth and potential of the market.

A prominent player in this field is GE Healthcare, which launched a new refurbishing unit in Bangladesh for A1-Sure Ultrasound Systems, aiming to enhance accessibility to affordable ultrasound technology in developing regions, and Siemens Healthineers partnered with Microsoft to utilize Azure cloud services for AI-powered medical imaging solutions, aimed at advancing healthcare delivery with secure and scalable cloud computing. Other contributors include Canon Medical Systems, and NeuroLogica Corp. among others.

Market Dynamics

Market Growth Drivers

Aging Population: Canada's demographic shift towards an aging population, expected to reach nearly one-quarter (23.4%) of the population by 2030, drives the demand for diagnostic tools like CT scans. Elderly individuals are more susceptible to chronic diseases that necessitate frequent use of CT scans for diagnosis and management.

Increasing Cancer Rates: With over 231,000 new cancer cases anticipated in 2023 as per Canadian Cancer Society - Canadian Cancer Statistics, 2023, CT scans play a critical role in detecting, staging, and planning treatment for cancer patients. This contributes significantly to the demand for CT imaging services across Canada.

Technological Advancement: Advanced CT scanner technologies offer reduced radiation doses for safer procedures, faster scan times enhancing patient comfort and operational efficiency, and improved image quality for precise diagnoses and better treatment planning. These advancements highlight CT scanners' evolving capabilities in healthcare, emphasizing safety, efficiency, and diagnostic accuracy.

Market Restraints

Cost Considerations: CT scans can be costly, averaging around $514.15 per scan as per Canadian Institute for Health Information (CIHI) - Diagnostic Imaging, 2023. This expense varies based on scan type, contrast materials, and facility fees, potentially limiting widespread utilization, especially for non-essential scans.

Limited Access to CT Scanners: Despite Canada's high healthcare spending, the availability of CT scanners is lower compared to other developed nations. It is found Canada ranked 26th out of 30 countries in terms of CT scanners per capita. This limited access can lead to longer wait times for patients needing CT scans.

Radiation Exposure Concerns: Despite advancements in reducing radiation dosage, concerns about potential risks associated with CT scans persist. Healthcare providers and patients alike exercise caution to minimize unnecessary exposure, aligning usage with clinical necessity and patient safety considerations.

Regulatory Landscape and Reimbursement Scenario

In Canada, the regulation of CT scanners falls under the jurisdiction of Health Canada, ensuring that all devices meet stringent safety and efficacy standards through licensing requirements. Manufacturers must submit detailed technical documentation and undergo inspections to obtain approval for their products. Operators of CT scanners are also mandated to undergo specific training and certification to ensure safe usage. Additionally, facilities using CT scanners must be licensed by provincial health authorities to operate within legal frameworks.

Regarding reimbursement, Canada's universal healthcare system typically covers medically necessary diagnostic imaging procedures, including CT scans, under provincial or territorial health insurance plans. Coverage eligibility hinges on medical necessity, where physicians must justify the need based on the patient's condition. Alternative, more cost-effective imaging methods may affect coverage decisions. Variations in coverage and potential co-payments exist across provinces and territories. Private health insurance plans may offer additional coverage options for CT scans not fully covered by public insurance or for expedited access to these services, depending on individual policy terms.

Competitive Landscape

Key Players

Here are some of the major key players in the Canada CT Scan Market:

• GE HealthCare
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Canon Medical Systems
• NeuroLogica Corp.
• Shanghai United Imaging Healthcare Co., Ltd.
• Fujifilm Holdings Corporation
• Shenzhen Anke High-tech Co., Ltd.
• Koning Health
• Carestream Dental LLC.