Australia Computed Tomography Market Size

Australia Computed Tomography Market Analysis

Australia Computed Tomography Market size is estimated at USD 313.41 million in 2023 and is expected to reach USD 427.38 million by 2028, growing at a CAGR of 6.40% during the forecast period.

The initial impact of COVID-19 on the Australian computed tomography (CT) market was significant, as the pandemic disrupted healthcare services, leading to a decrease in elective procedures and non-urgent imaging examinations. For instance, according to an article published by the Journal of medical imaging and radiation oncology, in April 2022, the average imaging services, including computed tomography, were 22.30% lower than expected at the peak of Australia's first wave of the COVID19 pandemic. However, as the situation progressed, CT imaging played a crucial role in diagnosing and monitoring COVID-19 cases, leading to an increased demand for CT scanners. Hence, currently, as there is better access to healthcare facilities compared to the initial pandemic phase, along with the surge in demand for CT imaging, the market is expected to gain its growth pace in the post-pandemic period.

Factors such as the increasing prevalence of chronic diseases and the rising geriatric population are expected to drive market growth. For instance, according to the 2022 statistics published by Dementia Australia, about 487,500 Australians will be living with dementia in Australia in 2022, and this number is projected to reach about 1.1 million by 2058. In addition, as per the same source, an estimated 28,800 people will be living with younger onset dementia in 2022, and this number is projected to be 29,350 by 2028 and 41,250 by 2058. Thus, the number of people suffering from dementia is expected to increase the demand for its diagnosis, which is anticipated to propel the market growth.

Furthermore, investment and the addition of CT in healthcare facilities are expected to drive market growth over the forecast period. For instance, in May 2021, Mediso and its Australian affiliate company, Mediso Pacific, confirmed their breakthrough scientific cooperation with ANSTO, opening new preclinical research horizons. The official opening ceremony of Australia's Nuclear Science and Technology Organization marks the installation of the newly acquired nanoScan PET/CT and SPECT/CT preclinical molecular imaging systems. Thus, with an increased facility of computed tomography, the demand also increases, leading to market growth.

Thus, factors such as the increasing prevalence of chronic diseases and investment and the addition of CT in healthcare facilities are expected to boost market growth over the forecast period. However, the lack of proper reimbursement, stringent regulatory approval procedures, and the high equipment cost is expected to impede market growth over the forecast period.