Global Positron Emission Tomography (PET)-Computed Tomography (CT) Scanners Market, By Detector Type (Bismuth Germanium Oxide (BGO), Lutetium Oxyorthosilicate (LSO), Gadolinium Oxyorthosilicate (GSO), Lutetium Fine Silicate (LFS), Lutetium Yttrium Orthosilicate), Product Type (Full Ring PET Scanner, Partial Ring PET Scanner), Slice Count (Low Slice Scanner, Medium Slice Scanner, High Slice Scanner), Setting (Fixed, Portable), Application (Cardiology, Neurology, Oncology, Others), End User (Hospitals, Diagnostic Centers, Research Institutes) – Industry Trends and Forecast to 2029
Market Analysis and Size
The market of positron emission tomography (PET)-computed tomography (CT) scanners is expected to witness significant growth during the forecast period. These scanners are often used in the diagnosis of several diseases such as heart diseases, cancer, gastrointestinal, endocrine, and neurological disorders. PET - CT systems aided in correction images exposure. PET - CT systems are also faster, due to which they help reduce motion artifacts. The effect of COVID-19 on the brain can be accurately measured using positron emission tomography (PET). Newly diagnosed COVID-19 patients who required hospitalization and underwent a PET brain scan were found to be defective in neurological function and associated cognitive impairment, and in some patients this disorder was 6 post-diagnosis.
Data Bridge Market Research analyses a growth rate in the positron emission tomography (PET)-computed tomography (CT) scanners market in the forecast period 2022-2029. The expected CAGR of positron emission tomography (PET)-computed tomography (CT) scanners market is tend to be around 6.80% in the mentioned forecast period. The market was valued at USD 2003.72 million in 2021, and it would grow upto USD 3391.62 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Positron emission tomography is also known as PET imaging or PET scanning, a type of nuclear medicine imaging. A small amount of radioactive material called a radiotracer or radiopharmaceutical, a special camera, and a computer are used to assess the function of organs and tissues. By identifying changes at the cellular level, early onset of the disease can be detected prior to other imaging tests. It can diagnose heart disease, cancer, gastrointestinal, endocrine and neuropathy.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Detector Type (Bismuth Germanium Oxide (BGO), Lutetium Oxyorthosilicate (LSO), Gadolinium Oxyorthosilicate (GSO), Lutetium Fine Silicate (LFS), Lutetium Yttrium Orthosilicate), Product Type (Full Ring PET Scanner, Partial Ring PET Scanner), Slice Count (Low Slice Scanner, Medium Slice Scanner, High Slice Scanner), Setting (Fixed, Portable), Application (Cardiology, Neurology, Oncology, Others), End User (Hospitals, Diagnostic Centers, Research Institutes)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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General Electric Company (U.S.), Mediso Ltd. (U.S.), PerkinElmer, Inc. (U.S.), MinFound Medical Systems Co. Ltd. (China), Hitachi, Ltd. (Japan), Trivitron Healthcare (India), Shimadzu Corporation (Japan), Koninklijke Philips N.V (Netherlands), Canon, Inc. (U.S.), Neusoft Corporation (China), Toshiba Corporation (Japan), Kindsway Biotech (China), MR Solutions (U.K.), SOFIE (U.S.), Canon, Inc. (U.S.), United Imaging Healthcare Co., Ltd. (China), Siemens (India)
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Market Opportunities
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Positron Emission Tomography (PET)-Computed Tomography (CT) Scanners Market Dynamics
Drivers
- Rising Prevalence of Cancer
Cancer treatment has evolved to include a variety of treatments, including chemotherapy, surgery, and radiation therapy. PET - CT systems are increasingly being used to monitor cancer around the world. For instance, a study conducted at major Asian hospitals in 98 patients with different types of cancer found that the PET - CT system successfully diagnosed the presence of cancer in 77% of the time.
- Growing Adaptation of PET/CT Systems
Several advantageous factors of PET - CT systems over other PET scanners led to the growing adoption of these scanners in the healthcare sector. For instance, PET - CT scanners increase sensitivity for detecting small brain metastases when performed with contrast agents. They have helped in reducing the time required for patients to lie motionlessly from approximately 40 minutes to 20 minutes.
Opportunities
- Rising Incidence of Disease Fuels
The incidence and prevalence of diseases such as cancer, Alzheimer's disease, and cardiovascular disease are increasing worldwide, creating demand for medical devices such as PET-CT scanner devices. Advances in the mobilization of PET - CT scanners are creating high demand in developed countries. In addition, PET - CT scanners provide anatomical and surgical information that is considered important in the care of tumor patients.
- Innovative Strategies and Collaborations
Some of the leading companies in the PET - CT scanner device market are focusing on growing distribution networks to expand product range and availability in multiple regions. For instance, in May 2020, Philips announced an eight-year strategic partnership with Paracelsus Clinic to promote solutions that improve the accessibility of imaging systems. Leverage digitization and product optimization to help identify quality and efficiency improvements. Through these under-development collaborations, the device is expected to provide all useful solutions in the healthcare industry and drive the growth of the positron emission tomography (PET)-computed tomography (CT) scanners market
Restraints/Challenges
- Lack of skilled professionals
The lack of qualified personnel who are unable to use these devices could curb the growth of the positron emission tomography (PET)-computed tomography (CT) scanners market over a forecast period.
- High Cost
The huge expenditure required for using these high-end scanners surely hamper the market growth. Several market players make huge investment in installing new and advanced machines to faster the process and in return the cost is increased.
This positron emission tomography (PET)-computed tomography (CT) scanners market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the positron emission tomography (PET)-computed tomography (CT) scanners market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Positron Emission Tomography (PET)-Computed Tomography (CT) Scanners Market
Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Its long-term repercussions are expected to influence industry growth during the forecast period.
The impact of COVID-19 on the positron emission tomography (PET)-computed tomography (CT) scanners market has been reported to be very positive. This is due to the increased use of PET -CT scanning equipment in diagnosing, evaluating and treating COVID-19. In addition, cancer patients who receive radiation therapy are at increased risk of developing more serious illnesses. Demand for PET - CT scanners is expected to increase as cancer patients are concerned about the impact of COVID-19 and are also impacting market growth.
Global PET - CT Scanners Market Scope
The positron emission tomography (PET)-computed tomography (CT) scanners market is segmented on the basis of detector type, product type, slice count, setting, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Detector Type
- Bismuth Germanium Oxide (BGO)
- Lutetium Oxyorthosilicate (LSO)
- Gadolinium Oxyorthosilicate (GSO)
- Lutetium Fine Silicate (LFS)
- Lutetium Yttrium Orthosilicate
Product Type
- Full Ring PET Scanner
- Partial Ring PET Scanner
Slice Count
- Low Slice Scanner
- Medium Slice Scanner
- High Slice Scanner
Setting
- Fixed
- Portable
Application
- Cardiology
- Neurology
- Oncology
- Others
End User
- Hospitals
- Diagnostic Centers
- Research Institutes
Positron Emission Tomography (PET)-Computed Tomography (CT) Scanners Market Regional Analysis/Insights
The global PET - CT scanners market is analysed and market size insights and trends are provided by detector type, product type, slice count, setting, application and end-user as referenced above.
The major countries covered in the global PET - CT scanners market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the positron emission tomography (PET)-computed tomography (CT) scanners market due to the rise in health care investment by manufacturers, high R&D expenditure by companies, and increased prevalence of chronic diseases and cancer in this region.
The Asia-Pacific region is expected to record the highest growth rates during the forecast period, primarily due to improved medical infrastructure, an increase in the number of hospitals equipped with advanced scanner equipment, R&D department development and increased healthcare.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Positron Emission Tomography (PET)-Computed Tomography (CT) Scanners Market Share Analysis
The positron emission tomography (PET)-computed tomography (CT) scanners market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to positron emission tomography (PET)-computed tomography (CT) scanners market
Key players operating in the positron emission tomography (PET)-computed tomography (CT) scanners market include:
- General Electric Company (U.S.)
- Mediso Ltd. (U.S.)
- PerkinElmer, Inc. (U.S.)
- MinFound Medical Systems Co. Ltd. (China)
- Hitachi, Ltd. (Japan)
- Trivitron Healthcare (India)
- Shimadzu Corporation (Japan)
- Koninklijke Philips N.V (Netherlands)
- Canon, Inc. (U.S.)
- Neusoft Corporation (China)
- Toshiba Corporation (Japan)
- Kindsway Biotech (China)
- MR Solutions (U.K.)
- SOFIE (U.S.)
- Canon, Inc. (U.S.)
- United Imaging Healthcare Co.,Ltd. (China)
- Siemens (India)
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