Global Point of Care CT Imaging For Respiratory Market Size (2024 – 2030)

In 2023, the Global Point of Care CT Imaging for Respiratory Market was valued at $24 million, and is projected to reach a market size of $31.58 million by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 4%.

Industry Overview:

Point-of-care imaging offers immediate diagnosis and treatment, which reduces the frequency of trips to the health clinic. Due to point-of-care CT imaging's ability to produce speedy results, it is projected that the market for these systems will grow over the coming years. The vast majority of industry players are developing point-of-care CT imaging systems and employing them to detect respiratory problems to make disease detection simpler. Due to the rapid advancement of technology and the growth of collaborations aimed at improving Computed Tomography (CT) imaging for emergency treatment, it is estimated that demand would rise throughout the projected period.

COVID-19 pandemic impact on Point of Care CT Imaging For Respiratory Market

Compact point-of-care CT scanners have become more popular as a result of the COVID-19 outbreak because they can provide an early diagnosis. Chest imaging was crucial in identifying COVID-19, especially in the early stages. Strengthening the ability to recognize picture changes was therefore a crucial step in assisting clinicians in accurately and speedily diagnosing the illness.   However, due to lockdowns and other restrictions imposed by the relevant regulating bodies in the wake of the recent COVID-19 breakout, the activities of many industries have either temporarily ceased or are operating with a minimum workforce.

MARKET DRIVERS:

Technical advancements in respiratory diagnostic systems and an increase in the prevalence of respiratory illnesses are driving market expansion

The global market is expanding as a result of factors including the rising geriatric population, rising prevalence of respiratory disorders, and technical developments in respiratory diagnostic systems. The demand for testing for respiratory diseases, particularly at diagnostic centers, will rise as health-conscious consumers and the burden of diseases including chronic and infectious diseases increases. The capacity of point-of-care imaging services to provide immediate diagnosis and treatment is helping them gain popularity. As a result, these services help reduce the number of times patients visit hospitals. The increased use of X-rays, CT-scan, and other imaging modalities for precise disease state visualization and diagnosis are attributed to the increase in demand.

Computed tomography and magnetic resonance imaging (MRI) are being used more frequently for lung imaging, and leading industry players are investing more money in R&D

Rising investments being made by significant market participants in the R&D of better and more affordable PoC CT systems would boost the revenue growth of the market. To further understand the effectiveness and efficiency of the device in identifying various diseases, numerous clinical trial studies are being undertaken on PoC computed tomography imaging systems. Therefore, many research institutes and centers are installing the tools needed to carry out these studies. Additionally, industry participants are creating partnerships to advance their understanding of PoC computed tomography imaging by aiding study groups at research institutes. Additionally, leading companies in the sector are releasing cutting-edge, artificial intelligence-based technologies, expanding the market. For instance, AI-based software for CT imaging of the head, chest, abdomen, and spine is available from Aidoc. The broad range of clinical applications and increased demand for early respiratory disease diagnostics are the main drivers of the rise.

MARKET RESTRAINTS:

Point-of-care testing is significantly more expensive than conventional CT systems, which may limit the market expansion

Point-of-care testing is far more expensive than traditional CT systems, and because of this, future market expansion may be constrained. The overall growth of the point-of-care testing sector is anticipated to be slowed down by high product development costs. Moreover, the lack of knowledge and the existence of a sizable underdiagnosed and undertreated population are the main obstacles in the market.

The primary issues limiting the market's growth are pricing pressure brought on by reimbursement reductions and budget constraints

The expansion of the global POC CT Imaging for Respiratory market is impacted by pricing pressure brought on by reimbursement reductions and insufficient resources. The US government passed a healthcare reform package in 2013, which mandates that producers of medical equipment must pay a sizable yearly excise tax of 2.3%. In France, all patient care expenses are combined into a single future payment through the Diagnosis Related Group (DRG) system, making reimbursement a minor consideration. The list of goods and services that can be reimbursed is expanded to include reimbursed goods and services and their associated tariffs (LPPR). The importation of medical devices into India was urged upon by the country's medical device sector. The Association of the Indian Medical Device Industry (AIMED) claims that POC testing equipment is pricey and does not have a set MRP (on imported equipment) because the commission paid to hospital pharmacies, distributors, and merchants is included in the pricing. Due to these practices, patients bear the additional burden of high production costs and a lack of suitable reimbursement options. Due to a reduction in the number of healthcare goods that qualify for reimbursement, it is estimated that global spending on general-use medical devices is stagnant. Together, these elements are putting more pressure on the global market for medical equipment. As a result of the increased competition, manufacturers are having difficulty maintaining pricing and preventing margin erosion.

POINT OF CARE CT IMAGING FOR RESPIRATORY MARKET REPORT COVERAGE:

This research report on the global Point of Care CT Imaging for Respiratory Market has been segmented based on product type, end users, and region.

Point of Care CT Imaging for Respiratory Market – By Product Type

• Compact CT scanners

• Full-sized CT scanners

Based on Product Type, the Point of Care CT Imaging for the Respiratory Market is bifurcated into Compact CT Scanners and Full-Sized Scanners. In 2021, full-sized PoC CT scanners accounted for 56.3% of all revenue. Full-sized CT scanners are typically preferred by end users, like hospitals and imaging facilities, to perform imaging for a variety of purposes. A significant portion of the patient population that needs a CT prefers hospitals to alternative outpatient locations, which contributes to the acceptance and use of full-sized CT scanners. Major industry manufacturers are creating full-sized point-of-care CT imaging devices since there is a huge demand for this technology and because hospitals are where it is most commonly put. On-Site Extremity, a state-of-the-art full-sized point-of-care CT scanner from Carestream Health, offers 3D weight-bearing CT tests and may be put in a variety of settings including hospitals, imaging centers, and orthopedic practices.

During the projection period, the compact point-of-care CT scanners sector is anticipated to grow at the quickest rate. Compact point-of-care CT scanners are preferred in outpatient settings since they are simple to move to another department and can be used for a variety of tasks. A mobile compact point-of-care CT scanner has been developed by many market participants. For instance, NeuroLogica's OmniTom point-of-care computed tomography scanner offers several benefits. Due to the very sophisticated technology, including N-DAS detectors and Automatic Exposure Control (AEC), that is built into this gadget, it helps to provide outstanding images. Additionally, this gadget is more efficient due to its mobility, which facilitates better workflow in the critical care, operating room, trauma, and pediatric fields.

Point of Care CT Imaging for Respiratory Market – By End User

• Hospitals

• Ambulatory Surgery Centers

• Clinics

• Others

Based on the End User, the Point of Care CT Imaging for Respiratory Marke is bifurcated into Hospitals, Ambulatory Surgery Centers, clinics, and Others. With a 35.3% sales share in 2021, the hospital segment led the market. The category is anticipated to rise due to the rising prevalence of neurological and respiratory illnesses. A full-body portable point-of-care computed tomography scanner called BodyTom was developed by NeuroLogica. All units, including the intensive care unit, operating room, radiology departments, and emergency room, can use the device to deliver point-of-care CT imaging.

During the projection period, the Ambulatory Surgery Centers (ASCs) sector is anticipated to increase at the quickest rate due to the expanding development of portable point-of-care CT imaging systems for use in ASCs and other outpatient settings. Additionally, patients choose ASCs to avoid the added expense of a hospital stay. During the period of forecasting, the clinic segment is also anticipated to expand significantly. Point-of-care computed tomography imaging devices are being increasingly installed in clinics as a result of the spread of pandemic diseases and the rising demand for early diagnosis.

Point of Care CT Imaging for Respiratory Market - By Region:

• North America

• Europe

• Asia-Pacific

• Rest of the World

In 2021, North America dominated the market and generated the largest revenue share. The market is being driven by the presence of major market players including Xoran Technologies, Carestream Health, CURVEBEAM, and NeuroLogica. These industry participants are creating cutting-edge PoC computed tomography imaging systems. The market in Europe had a sizable market share and is projected to expand significantly during the forecast period. The market is anticipated to expand at the fastest rate in the Asia Pacific over the forecast period due to rising healthcare costs and a rise in the demand for these devices in medical facilities in this region. To meet the growing need for computed tomography imaging in the area, major players in the global market are accelerating the development of portable point-of-care CT scanners. The pandemic epidemic in China has also influenced the rise in demand for computed tomography imaging.

Major Key Players in the Market

1. Xoran Technologies, LLC

2. CurveBeam

3. Carestream Health

4. Planmed

5. Siemens Healthcare GmbH

6.  NeuroLogica Corp.

Notable happenings in the Point of Care CT Imaging for Respiratory Market in the recent past:

• Product Launch- In May 2022, Xoran Technologies® declared the completion of the first phase of their NHLBI grant for mobile lung CT. This mobile device supports the diagnosis, prioritization, and monitoring of the lungs of respiratory patients in the intensive care unit.

• Product Launch- In November 2021, The NAEOTOM Alpha, the first photon-counting CT scanner in the world, was released by Siemens Healthineers. The system is currently approved for clinical usage in the United States and Europe. When compared to conventional CT detectors with a UHR comb filer, photon-counting technology allows for significant advantages, such as an increase in resolution and a radiation dose reduction of up to 45%. Because photon-counting technology immediately detects each X-ray photon and its energy level rather than first transforming it into visible light as with conventional CT imaging, photon-counting scans have more useful data.

• Product Launch- In February 2020,  NeuroLogica with the help of the Chinese distributor Chindex, supplied the  BodyTomPoC CT scanner in China for the diagnosis of COVID-19. Furthermore, these firms are developing digital platforms to improve the ease of access to the pictures obtained by Proof of Concept computed tomography imaging systems.