The global point of care (PoC) Computed Tomography (CT) imaging market was valued at USD 184.4 million in 2019 and is expected to expand at a CAGR of 5.2% from 2020 to 2027 to reach USD 276.9 million by 2027, driven by the growing prevalence of neurological conditions and increasing burden of COVID-19 diagnosis.
These are the latest findings of Grand View Research, Inc. (San Francisco, CA, USA), a global market research publishing & management consulting firm.
PoC imaging provides instant diagnosis and treatment, thus helping in reducing the number of visits to medical settings. The effectiveness of PoC CT imaging in providing prompt results is expected to drive the demand for these systems in the coming years. The growing prevalence of neurological conditions, including traumatic brain injury and brain tumor, is expected to drive the growth of the PoC CT imaging market. Additionally, the increasing burden due to COVID-19 is leading people to opt for PoC CT imaging to identify the problem. As the demand for the PoC CT imaging is increasing, outpatient settings such as Ambulatory Surgery Centers (ASCs), hospitals, and clinics are widely installing the devices.
Patients seeking PoC diagnostic devices prefer outpatient settings over the hospital to avoid long wait time and extra hospital-associated expenses. Therefore, market players are expected to provide PoC CT imaging in these settings are developing compact devices that can be easily accommodated and accessed. Many players are adding mobility as well to the compact devices so that these devices can be carried to different departments and locations, especially, where the need for COVID-19 diagnosis is high. Market players are also forming strategic alliances with various distributors to provide advanced PoC CT imaging devices for COVID-19 diagnosis.
A large number of clinical trial studies are being conducted on PoC CT imaging devices to understand their effectiveness and efficiency in diagnosing various diseases. Many research centers and institutes are, therefore are installing PoC CT devices for conducting studies. Furthermore, market players are forming alliances to enhance their knowledge of PoC CT imaging by support educational groups at research institutions.
On the basis of product, the full-sized PoC CT scanners segment held the largest share of the PoC CT imaging market in 2019 due to the presence of a large patient pool and the development of weight-bearing CT scanners. However, the compact PoC CT scanners segment is expected to drive the PoC CT imaging market during the forecast period due to the growing pandemic situation and increasing adoption of CT imaging in outpatient settings.
By application, the neurology segment held the largest share of the PoC CT imaging market in 2019 owing to the increasing number of neurological disorder cases. However, the respiratory segment is expected to grow at the fastest rate during the forecast period due to the increasing respiratory problems faced during the pandemic and growing demand for early diagnosis due to COVID-19.
Based on end-use, the hospital segment held the largest revenue share of the PoC CT imaging market in 2019 owing to the increasing installation of advanced PoC CT imaging devices for enhanced diagnosis. However, the ambulatory surgery centers (ASCs) segment is expected to grow at the fastest rate during the forecast period due to the easy availability of PoC CT imaging in these centers at affordable prices.
Geographically, North America dominated the global PoC CT imaging market in 2019 and accounted for the largest revenue share owing to the rising adoption of advanced testing devices and the presence of major market players in the region. However, the Asia Pacific market is expected to grow at the fastest rate during the forecast period mainly due to increasing strategic alliances between players and distributors to provide PoC CT imaging in the region.
Grand View Research, Inc.