Market Trends of South Korea Computed Tomography Industry
This section covers the major market trends shaping the South Korea Computed Tomography Market according to our research experts:
Oncology Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The high prevalence of various cancer conditions and the nation's expanding research and technological advancements are the driving forces behind the expansion of this market. Future market development is also anticipated to be aided by strategic efforts. According to Globocan 2020, there were 230,317 new cancer cases in South Korea in 2020, and 350,598 cases are anticipated by 2040. The country's use of CT scanners, which are used to diagnose many types of cancer, would be influenced by the anticipated increase in cancer cases. Thus, during the projection period, the market under study is anticipated to have significant growth.
In South Korea, numerous investigations are been out on the use of computed tomography for cancer diagnosis. The RSNA Radiology journal released an article in April 2020 with the title "Lung Cancer CT Screening and Lung-RADS in a Tuberculosis-endemic Country: The Korean Lung Cancer Screening Project (K-LUCAS)". The researchers came to the conclusion that the lung CT screening reporting and data system's specificity of lung cancer screening were decreased in an at-risk population due to tuberculosis sequelae. Consequently, lung cancer can be screened for using computed tomography-based CT screening.
The market for this application is seeing a number of developments in South Korea, including product releases and approvals, partnerships, collaborations, mergers, and acquisitions. The first CT-based pulmonary nodule detection artificial intelligence (AI) solution in Korea, known as "VUNO Med-LungCT AI," was unveiled by South Korean business VUNO in April 2020. VUNO is a member of the Born2Global Centre. Healthcare practitioners in Korea will be able to diagnose lung cancer using the AI solution that accurately detects pulmonary nodules. Hence, the above factors are further expected to improve the market's growth in this segment.
