The number of computed tomography (CT) scanners in South Korea has shown a steady increase over the years, standing at 2.26 thousand units in 2023. Over the past decade, the market has witnessed both fluctuating and consistent growth, often around 1-3% year-on-year variations, with a notable Compound Annual Growth Rate (CAGR) of 2.53% from 2018 to 2023.
Looking specifically at the last two years, the year-on-year variation was 0.92% in 2022, followed by 2.41% in 2023, indicating a strong upward trend. The forecasted period from 2024 to 2028 projects continued growth, with a forecasted 5-year CAGR of 1.72% and an overall forecasted 5-year growth rate of 8.88%, suggesting a moderately accelerating market.
Future trends to watch for include:
- Technological advancements in CT scanner design and functionality.
- Government healthcare initiatives potentially increasing the number of installed units.
- Economic factors and healthcare spending affecting market expansion.