The process of PET imaging is noninvasive and has many applications, including cancer detection. It is used in the diagnosis and treatment of certain types of brain and heart diseases. It can also be used for research purposes. In certain cases, PET can help diagnose a wide range of conditions by examining the metabolism of cells in the body. It can also help in the detection of specific cancers. It is a noninvasive diagnostic imaging technique that is effective in detecting cancers.
PET is a minimally invasive imaging technique that allows doctors to visualize changes in various body tissues. It is also an excellent way to detect cancer in an early stage. A PET scan can also identify the presence of abnormal cells in the body. When performed properly, PET is highly accurate. It is used to diagnose cancer, heart disease, and gastrointestinal disorders, among others. The PET process is noninvasive and painless.
The global positron emission tomography (PET) scanners market is estimated to account for US$ 1,107.6 Mn in 2019 in terms of value and is expected to reach US$ 1,549.7 Mn by the end of 2027.
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Recent Developments
Major players operating in the in the global positron emission tomography (PET) scanners market are focused on adopting partnership strategies to expand their product portfolio. For instance, in March 2020, Cerveau Technologies Inc., a developer and manufacturer of diagnostic technologies, partnered with Alector, LLC to offer its investigational imaging agent (MK-6240) to Alector, LLC for use in PET scans to assess the status and progression of neurofibrillary tangles in the brain.
Global Positron Emission Tomography (PET) Scanners Market: Drivers
The global positron emission tomography (PET) scanners market growth is driven by high prevalence of cancer. For instance, according to the Centers of Disease Control and Prevention’s U.S. Cancer Statistics September 2019, around 94,000 women were diagnosed with gynecologic cancer each year, in the U.S., between 2012 and 2016.
Moreover, approval and launch of new devices is expected to propel growth of the global positron emission tomography (PET) scanners market over the forecast period. For instance, in June 2018, the U.S. Food and Drug Administration approved Siemens Healthineers’ Biograph Vision, a new PET /CT system.
Global Positron Emission Tomography (PET) Scanners Market: Opportunities
The adoption of hybrid imaging consisting of positron emission tomography (PET) and X-ray transmission computed tomography (CT) scan is increasing globally. This advanced technology shortens acquisition time and provide accurate attenuation correction and fusion imaging leading to increase in diagnostic sensitivity and specificity
R&D of novel radiotracers is expected to offer lucrative growth opportunities for players operating in the market. For instance, in April 2020, researchers from University of Aveiro, Portugal, concluded that pyrazole, an organic compound, is an important scaffolds for the development of 18F-labeled radiotracers for PET imaging.
Key Takeaways
Full Ring PET Scanner held dominant position in the global positron emission tomography (PET) scanners market in 2019, accounting for 84.3% share in terms of value, followed by Partial Ring PET Scanner, respectively
Oncology segment was valued at US$ 906.1 Mn in 2019 and is forecast to reach a value of US$ 1,270.4 Mn by 2027 at a CAGR of 4.2% between 2020 and 2027.
Global Positron Emission Tomography (PET) Scanners Market: Restraints
Reimbursement cutbacks and short half-life of radiopharmaceuticals are some of the factors hindering growth of the global positron emission tomography (PET) scanners market.
Global Positron Emission Tomography (PET) Scanners Market: Competitive Landscape
Major players operating in the global positron emission tomography (PET) scanners market include, GE Healthcare, Hitachi Medical Corporation, Koninklijke Philips N.V., Mediso Ltd., Positron Corporation, Siemens Healthineers, Toshiba Corporation, and Yangzhou Kindsway Biotech Co., Ltd.
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Global Positron Emission Tomography (PET) Scanners Market: Segmentation
• By Product Type
◦ Full Ring PET Scanner
◦ Partial Ring PET Scanner
• By Application
◦ Oncology
◦ Cardiology
◦ Neurology
◦ Others
• By Detector Type
◦ Bismuth Germanium Oxide (BGO)
◦ Lutetium Oxyorthosilicate (LSO)
◦ Gadolinium Oxyorthosilicate
◦ (GSO)
◦ Lutetium Fine Silicate (LFS)
◦ Lutetium Yttrium Orthosilicate
• By End User
◦ Hospitals
◦ Diagnostic Centres
◦ PET Centres
◦ Research Institutes
• By Region
◦ North America
◦ Latin America
◦ Europe
◦ Asia Pacific
◦ Middle East
◦ Africa
| The market size value in 2023 |
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Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Market Overview
- Definition of Positron Emission Tomography (PET) Scanners Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Positron Emission Tomography (PET) Scanners Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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