Market Trends of China Computed Tomography Industry
Hospitals are Expected to Hold a Significant Share Over the Forecast Period
Hospitals are the major end users of computed tomography and are expected to hold a significant share.
Factors such as the high frequency of dental and cardiovascular ailments, orthopedic diseases, and cancer, strategic efforts by leading companies, and huge investments in the healthcare industry are likely to drive segmental growth. Additionally, population awareness of CT imaging services is projected to increase market growth.
The country's growing burden of chronic diseases and the launch of new establishments in China further require imaging diagnosis, which is likely to boost the segment's growth. For instance, in November 2023, Guangzhou Royal Li Cancer Hospital introduced SPECT/CT equipment for the Nuclear Medicine Department. The first scan was conducted on a patient with recurring cervical cancer. Thus, the increase in the introduction of advanced CT scans is expected to increase the demand for effective diagnosis and boost segmental growth.
Strategic collaborations and partnerships in the segment propel the country's market growth. For instance, in February 2023, GE Healthcare planned to establish a fresh joint venture facilitated by its Chinese arm, which will collaborate with Sinopharm's China National Medical Device Company. GE Healthcare and Sinopharm renewed their collaboration, focusing on developing and commercializing medical equipment tailored to meet China's healthcare demands. The collaboration included establishing a clinical diagnostics laboratory for creating an integrated and patient-centric disease diagnosis, treatment, and rehabilitation for cancer patients.
Hence, with the above-mentioned factors, hospitals are expected to play a crucial role in the computed tomography market in China.
The Neurology Segment is Expected to Hold a Significant Share Over the Forecast Period
The factors propelling the segment's growth include the increase in neurological disorders, huge investments by private players in neurology devices, and product launches by market players.
Many neurological disorders share specific characteristics, and a CT scan can aid in proper diagnosis by differentiating the area of the brain affected by the disorder. The ultimate goal of a CT scan is to provide a clearer brain structure for diagnosis. In the majority of brain diseases, such as vertigo, skull fracture, cerebral infarction, Alzheimer's, and epilepsy, CT images aim to distinguish abnormalities in the structure. The growing aging population, which is more prone to neurological diseases, is expected to boost the market growth over the forecast period.
According to the data published by the China Alzheimer Report 2022, China's population of Alzheimer's patients was about 6 million, with the percentage of individuals with dementia being 5%, 11.5%, and 30% among 65-, 75-, and 85-year-olds. Epilepsy has neurological, cognitive, psychological, and social consequences. People with epilepsy have a two to four times higher risk of fatal injuries. Thus, the huge burden of neurological diseases is expected to lead to a rise in demand for effective diagnosis, propelling the demand for CT in China and boosting the segment’s growth.
Thus, all factors mentioned above are expected to boost the segment’s growth over the forecast period.
