The global positron emission tomography (PET) scanners market is on the brink of substantial growth, with market value expected to surge from USD 1.3 billion in 2023 to USD 2.1 billion by 2033. This remarkable expansion underscores a Compound Annual Growth Rate (CAGR) of 5.3% over the next decade.
Several key factors are driving this impressive growth trajectory. Notably, groundbreaking advancements in medical imaging technology and an increasing recognition of the pivotal role that PET scanners play in early disease detection and diagnosis are at the forefront. These technological developments are revolutionizing the healthcare landscape, setting new standards for precision and effectiveness in medical interventions.
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PET scanners have become indispensable tools in the medical field, providing detailed insights into the human body’s complex functions. Their ability to facilitate the early detection of various health conditions is crucial. Early diagnosis enabled by PET scanners allows for timely and targeted treatment strategies, significantly improving patient outcomes.
As the market continues to evolve, the enhanced capabilities of PET scanners are expected to further solidify their role in healthcare, ensuring more accurate and effective medical diagnoses and interventions.
Key Takeaways:
- The process incorporates the visualization of biochemical changes in the body, including the strong metabolism of the heart muscle. These efficient scanners employ a type of nuclear medicine process in order to accurately measure the metabolic activity of the body tissues and cells. It is a combination of nuclear medicine and biochemical analysis. They are mostly used in patients with heart or brain conditions, and cancer.
- The surging adoption of PET and X-ray transmission computed tomography (CT) scans is expected to propel growth in the market over the upcoming years. This innovative technology is predicted to reduce acquisition time, and provides precise attenuation correction and fusion imaging, resulting in high diagnostic sensitivity and specificity.
- Furthermore, the combination of PET and CT helps in improving the staging of disease by defining prognostic and treatment monitoring capabilities of the functional and metabolic information given by conventional nuclear imaging techniques.
- Most PET scanning products are used to perform fluorodeoxyglucose (FDG) as it has the capability to capture tissue glucose metabolism and increase its parameters. Although, fluorodeoxyglucose consists of some shortcomings such as low specificity. Additionally, several potential radiotracers are under investigation to address the unmet clinical needs of diagnosis of diseases.
- In order to tackle such diseases, various manufacturers are launching new products that come with higher sensitivity concerning metabolic activity to achieve detailed scans. Players are also investing in mergers and acquisitions to improve their product portfolios.
- The market is expected to comprise mandatory equipment registered in several countries, regulatory requirements for development, and reimbursement changes. The market is highly influenced by the advances in minimally invasive surgical procedures and the establishment of new patented products.
- Over the recent years, the market observed a surge in the BPS values owed to the potential benefits of digital PET scanners over conventional analog scanners attributed to their improved image quality, thus promoting greater adoption. In addition to that, the market experienced change within the BPS values owing to the reduction in the number of elective surgeries as well as the emergence of telehealth during the advent of the COVID-19 pandemic.
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Competitive Landscape:
Key market players are concentrating on a novel and innovative approaches for the development of positron emissions tomography scanners driven by emerging cases of infectious diseases and the lack of advanced methods for efficient detection. An expansion of the production facility along with new product launches and approvals are projected to further strengthen the growth of the market.
More Insights into the Positron Emission Tomography (PET) Scanners Industry
The U.S. is anticipated to dominate the North American market as it accounted for around 94.4% of the total market share in 2020. Due to the rising prevalence of cancer in the country, an underpinning need for advanced PET scanners, thereby creating sales prospects in the market.
Some of the prominent players in the market are:
- G.E. Healthcare
- Toshiba Corporation
- Koninklijke Philips N.V.
- Siemens Healthineers
- Hitachi Medical Corporation
- Positron Corporation
- Mediso Ltd.
- Yangzhou Kindsway Biotech Co., Ltd
Positron Emission Tomography (PET) Scanners Industry by Category:
By Product Type:
- Full-ring PET Scanner
- Partial-ring PET Scanner
By Application:
- Oncology
- Cardiology
- Neurology
- Others
By Detector Type:
- Bismuth Germanium Oxide
- Lutetium Oxyorthosilicate
- Gadolinium Oxyorthosilicate
- Lutetium Fine Silicate
- Lutetium Yttrium Orthosilicate
By End User:
- Hospitals
- Diagnostic Centers
- PET Centers
- Research Institute
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