South Korea Computed Tomography Market Insights Forecasts to 2033

• The South Korea Computed Tomography Market Size was valued at USD 212.98 Million in 2023.
• The Market Size is Growing at a CAGR of 6.06% from 2023 to 2033.
• The South Korea Computed Tomography Market Size is Expected to Reach USD 383.71 Million by 2033.

The South Korea Computed Tomography Market Size is Expected to Reach USD 383.71 Million by 2033, at a CAGR of 6.06% during the forecast period 2023 to 2033.

Market Overview

Computed Tomography (CT) scans are medical imaging tests that use a motorized X-ray source to produce detailed images of internal organs, bones, soft tissue, and blood vessels. CT scans generate cross-sectional images that can be reformatted as needed, as well as 3D images for viewing on a computer screen or printing on film. Computed Tomography has several advantages, including being quick, painless, and non-invasive. It can also be used in emergencies to detect internal injuries and bleeding quickly, potentially saving lives. CT scanning aids in the detection and measurement of tumors. Intravenous (IV) contrast agents are sometimes used to obtain clear images of soft tissues. Because X-rays easily pass through softer tissues, they frequently produce faint images. Blood clots, coronary artery disease, kidney disease, and inflammatory diseases can all be detected using computed tomography (CT).

Report Coverage

This research report categorizes the market for South Korea computed tomography market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea computed tomography market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea computed tomography market.

Driving Factors

The growing demand for advanced imaging solutions, as well as the growing patient emphasis on accurate and timely disease diagnosis, are driving the growth of the computed tomography devices market. Government initiatives such as favorable policies and healthcare funding, increased population awareness about early disease diagnosis, and the increasing prevalence of targeted diseases among people all contribute to the growth of the computed tomography devices market. The increased use of CT scans over other imaging modalities due to their various benefits, as well as an increase in mergers and acquisitions among key market players for the development and distribution of advanced devices, all have an impact on the computed tomography devices market.

Restraining Factors

The shortage of well-trained and skilled healthcare professionals, high installation and maintenance costs, and an uncertain reimbursement scenario in South Korea are all expected to hinder the growth of the computed tomography devices market.

Market Segment

• In 2023, the oncology segment accounted for the largest revenue share over the forecast period.

Based on the application, the South Korea computed tomography market is segmented into oncology, neurology, cardiology, musculoskeletal, and others. Among these, the oncology segment has the largest revenue share over the forecast period. The rising prevalence of cancer, as well as the increased use of CT scans in the diagnosis of various types of cancer, including lumps and tumors, are expected to drive the market. The development of novel technologies such as computer-aided detection and identification of suspicious cancer nodules, as well as risk assessment, is expected to boost growth, particularly in lung cancer. Furthermore, the program may calibrate the collected image with biopsy results, assisting in accurate diagnosis.

• In 2023, the high-slice segment accounted for a significant revenue share over the forecast period.

Based on type, the South Korea computed tomography market is segmented into low slice, medium slice, and high slice. Among these, the high-slice segment has a significant revenue share over the forecast period. The rising prevalence of cardiovascular diseases, as well as the growing demand for precise diagnostic imaging solutions, are expected to drive the segment. With a 16 cm imaging area, high-end slice technology exposes patients to 80% less radiation than mid-level slice technology (64 slices). Expensive-end slice devices provide detailed images of obese people; the main issue that is expected to limit this segment's growth is the high cost of high-end slice technology.

• In 2023, the hospitals segment accounted for the largest revenue share over the forecast period.

Based on the end-user, the South Korea computed tomography market is segmented into diagnostic centers and hospitals. Among these, the hospitals segment has the largest revenue share over the forecast period. The growing number of emergency hospital admissions and surgeries performed each year has contributed to the market share. Furthermore, CT scans are an important tool for accurate diagnosis both before and after surgery to assess treatment success.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea computed tomography market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Carestream Health
• Canon Medical Systems Corporation (Toshiba Corporation)
• GE Healthcare
• Planmeca Group (Planmed OY)
• Koninklijke Philips NV
• Siemens Healthineers AG
• United Imaging
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In March 2022, Greeting CT Premium was unveiled by Philips Korea at the 37th Korea International Medical & Hospital Equipment Show (KIMES2022), which was held at the Samsung-dong COEX in Seoul.

• In January 2022, The South Korean Ministry of Food and Drug Safety approved Bayer AG's MEDRAD Centargo computed tomography device.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea Computed Tomography Market based on the below-mentioned segments:

South Korea Computed Tomography Market, By Application

• Oncology
• Neurology
• Cardiology
• Musculoskeletal
• Others

South Korea Computed Tomography Market, By Type

• Low Slice
• Medium Slice
• High slice

South Korea Computed Tomography Market, By End-User

• Diagnostic Centers
• Hospitals