US CT Scan Market Analysis

US CT Scan Market Executive Summary

US CT Scan market was valued at $1,936.2 Mn in 2023 and is predicted to grow at a CAGR of 5.87% from 2023 to 2030, to $2,886.43 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.

The prevalence of chronic diseases in the US is high and rising, with an estimated 129 Mn people affected by conditions such as heart disease, cancer, diabetes, obesity, and hypertension, particularly in the southeastern region. The use of CT scans has surged from 3 Mn to 62 Mn annually, becoming essential for diagnosing chronic conditions. However, this increase has raised concerns about radiation exposure, with medical imaging now accounting for over 24% of the total radiation exposure to the US population, up from 0.5 mSv to 3.0 mSv.

The market therefore is driven by significant factors like the aging population, increasing cancer rates, and technological advancements. However, cost considerations, focus on cost-effectiveness, 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: The US population is aging, with a growing number of individuals over 65 years old. This age group is more susceptible to chronic diseases often requiring CT scans for diagnosis and management. The US Census Bureau projects that by 2030, one in five Americans will be 65 or older.

Increasing Cancer Rates: The American Cancer Society estimates over 1.9 million new cancer cases will be diagnosed in the US in 2024. CT scans play a crucial role in cancer detection, staging, and treatment planning.

Technological Advancements: The CT scan market is evolving with technological advancements that include lower-dose CT scans, which minimize radiation exposure by up to 80%, as found in a study published in the Journal of the American College of Radiology. These advancements also feature faster scan times, enhancing patient comfort and workflow efficiency, and improved image quality, allowing for more precise diagnoses.

Market Restraints

High Costs: CT scans can be expensive, with the cost varying depending on the type of scan, contrast material used, and facility fees. A 2021 report by FAIR Health found the average cost of a CT scan in the US to be around $2,400. These costs can be a barrier for some patients and influence healthcare provider decisions.

Focus on Cost-Effectiveness: The US healthcare system emphasizes the cost-effective use of medical resources. Physicians might opt for alternative imaging techniques like X-rays or ultrasounds when appropriate to reduce overall healthcare spending.

Radiation Exposure Concerns: Despite advancements in reducing radiation dosage, there's still a small risk associated with CT scans. This may lead to some healthcare providers and patients being cautious about unnecessary CT scans.

The US Food and Drug Administration (FDA) is the primary regulator of medical devices, including CT scanners. Manufacturers must obtain FDA premarket approval for new CT scanner models by demonstrating safety, efficacy, and quality. They must also comply with FDA Quality Systems Regulations (QSR) to ensure consistent design, manufacturing, and distribution of CT scanners. Additionally, CT scanners must meet established performance standards for radiation dose, image quality, and safety features. The FDA conducts inspections of both manufacturing facilities and healthcare facilities using CT scanners to ensure regulatory compliance.

The US healthcare system features a mix of public and private payers, affecting CT scan reimbursement. Medicare, the federal health insurance program for seniors, covers medically necessary CT scans under specific conditions with reimbursement rates determined by a national fee schedule. Medicaid, a federal-state program for low-income individuals, may cover CT scans based on state regulations and medical necessity. Most private health insurance plans also cover medically necessary CT scans, although coverage specifics, including deductibles and co-pays, can vary depending on the plan.

Competitive Landscape

Key Players

Here are some of the major key players in the US 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.