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Report
Mexico Computed Tomography - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 90 Pages I Mordor Intelligence
The Mexico Computed Tomography Market size is estimated at USD 159.35 million in 2024, and is expected to reach USD 215.78 million by 2029, growing at a CAGR of 6.25% during the forecast period (2024-2029).
The COVID-19 pandemic resulted in lockdowns in Mexico, due to which hospitals were not able to operate at full capacity. Many clinical studies were canceled, as most imaging treatments were delayed, and all the conventional imaging studies CT scans were canceled. According to the circumstances in various regions of the country in March 2020, several appointments were rescheduled or canceled since imaging treatments were seen as elective treatments. The quantity of computed tomography scans reduced as a result of movement restrictions and social distance norms. Global Citizen Organization records show that the COVID-19 pandemic delayed Mexico's already meager testing in March 2021. In 2020 compared to 2019, there were fewer diagnoses because of the pandemic's strain on the healthcare system, which decreased by more than half. Data from the Organization for Economic Co-operation and Development (OECD) show that there were 2.1 fewer medical consultations per person in 2020 than there were in 2019, a decline from 2.3 in 2019. The market for computed tomography in Mexico was significantly damaged by the aforementioned issues. The market is reverting to pre-pandemic levels as COVID-19 instances decline, but it will take a long time to finish all the computed tomography procedures that were put off. Thus, the market will keep growing in the long term.
The increasing frequency of chronic diseases including cancer, diabetes, neurological disorders, etc. is what drives the computed tomography market in Mexico. The market for the nation is additionally fueled by the expanding technological developments in the relevant markets, expanding R&D activities, increasing investments, and expanding product launches. Mexico had 195,449 new cases of cancer in 2020, and GLOBOCAN 2020 projects that this figure will rise to 323,432 cases of cancer by 2040. The country's CT scanner market will be driven by the anticipated increase in cancer cases because CT scanners are used to diagnose different types of cancer. Thus, during the projection period, the market under study is anticipated to have significant growth. Mexico is one of the 29 countries in the IDF North America and Caribbean area where adults are more likely to have diabetes than non-diabetics (15.2%), with 12,805,200 cases overall in the nation. Diabetes will likely cause more cancer cases in the nation, which is expected to raise demand for the product being studied. Another factor boosting the growth of the computed tomography market for neurology applications is the rising prevalence of epilepsy in Mexico. The prevalence of epilepsy was higher in developing nations, including Mexico, in 2020, according to Anales Medicos de la Asociacion Medica del Centro Medico ABC. According to the same report, Mexico has epilepsy prevalence rates ranging from 3.9 to 42.2 per 1,000 people. The usage of computed tomography for diagnostic brain imaging will rise along with the prevalence of epilepsy cases in Mexico. Consequently, the market under study will grow. Similar to this, a study conducted in August 2021 at the Centro de Investigacion in Computacion, Instituto Politecnico Nacional, Mexico, by Solorio-Ramrez et al. found that CT images are the most frequently used for the diagnosis of cerebral haemorrhages due to their high quality. The section is projected to grow as a result of such studies on the application of computed tomography for neurological illnesses. Thus, the abovementioned factors are expected to increase the market growth.
The high cost of equipment and CT scan procedures, the absence of adequate reimbursement, the strict regulatory clearance processes, and these factors are anticipated to restrain market expansion in Mexico.
Mexico Computed Tomography Market Trends
Oncology Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Factors that are leading to the growth of this segment include the high burden of cancer types in the Mexican population, the advantages of computed tomography systems over conventional computed tomography, and the increase in strategic initiatives by major companies to use computed tomography in diagnosing cancer. Mexico had 195,449 new cases of cancer in 2020, and GLOBOCAN 2020 projects that this figure will rise to 323,432 cases of cancer by 2040. The country's CT scanner market will be driven by the anticipated increase in cancer cases because CT scanners are used to diagnose different types of cancer. Thus, during the projection period, the market under study is anticipated to have significant growth. According to a report written by Yanin Chavarri-Guerra and released in September 2020, cancer-related mortality and the number of newly diagnosed cases of the disease are increasing in Mexico as well as other low- and middle-income nations. For Mexicans, cancer is the third most common cause of death, with lung, stomach, liver, prostate, and breast cancers being the most common types. Several government organizations in Mexico offer financial aid to those with cancer, notably the Instituto de Salud para el Bienestar (INSABI) for those without insurance. A number of non-governmental organisations also provide various resources, including SALVATi AC, Unidos, Fundacion Teresa de Jess, Fundacion Rebecca de Alba A.C., Fundacion ALMA, and many others. Such programmes may motivate people to get regular cancer screenings. For the diagnosis of cancer, computed tomography is a crucial imaging method. Increased cancer testing could spur market expansion. Many businesses are releasing new items and increasing their presence in the nation. For instance, to raise the standard of treatment in Mexico, 630 Nanox.ARC units were deployed there in September 2020 thanks to an exclusive distribution deal between Nanox and SPI Medical. This change is anticipated to improve orthopaedic care at the hospital and accelerate market expansion. Consequently, it is anticipated that the aforementioned factors will further enhance market expansion in this sector.
Mexico Computed Tomography Industry Overview
Mexico computed tomography market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Carestream Health, Dentsply Sirona Inc., GE Healthcare, Planmeca Group (Planmed OY), and Koninklijke Philips NV among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Rising Geriatric Population
4.2.3 Increasing Technological Advancements
4.3 Market Restraints
4.3.1 Lack Of Proper Reimbursement And Stringent Regulatory Approval Procedures
4.3.2 High Cost of Equipment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Low Slice
5.1.2 Medium Slice
5.1.3 High Slice
5.2 By Application
5.2.1 Oncology
5.2.2 Neurology
5.2.3 Cardiovascular
5.2.4 Musculoskeletal
5.2.5 Other Applications
5.3 By End User
5.3.1 Hospitals
5.3.2 Diagnostic Centers
5.3.3 Other End Users
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Carestream Health
6.1.2 Canon Medical Systems Corporation (Toshiba Corporation)
6.1.3 Dentsply Sirona
6.1.4 GE Healthcare
6.1.5 Neusoft Medical Systems Co. Ltd
6.1.6 Planmeca Group (Planmed OY)
6.1.7 Koninklijke Philips NV
6.1.8 Samsung Electronics Co. Ltd (Samsung Medison)
6.1.9 Siemens Healthineers AG
6.1.10 J. Morita Corporation
6.1.11 Vatech Inc.
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