PET-CT scans offer a comprehensive approach to imaging that allows for the visualization of both cellular structure and function in a single session. Nowadays, PET scans are mostly carried out using instruments that integrate PET and CT scanners. By combining the two modalities, PET-CT scans generate images that precisely pinpoint the location of abnormal metabolic activity in the body. Studies have demonstrated that this approach leads to more precise and reliable diagnoses than when the two scans are conducted independently.
PET and CT scans are necessary for diagnosing a range of diseases, including heart disease, cancer, and specific brain disorders. PET scanners measure metabolic activity, while CT scanners highlight anatomical features. The risk of poor image superimposition is decreased by combining the two imaging methods using hybrid PET-CT scanners. This also simplifies the scanning process and reduces the burden on the patient. The use of hybrid PET-CT scanners combines the strengths of two established imaging methods and assists in precise diagnosis, localization, and disease monitoring. Additionally, PET-CT scanners can capture images in a very short time, often less than a minute.
In 2022, the market size for the global PET-CT scanner device market was estimated at US$ 1.9 billion, with a projected CAGR of 5.1% from 2023โ2030.
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The PET-CT scanner device market revenue is anticipated to be propelled by the growing occurrence of chronic illnesses and the increasing number of elderly people.
The PET-CT scanner market size is anticipated to be propelled by the growing occurrence of infectious and chronic illnesses, including cancer and heart disease, worldwide, along with a rising need for efficient diagnostic tools. The National Center for Health Statistics reported in 2011 that heart disease is the primary cause of mortality in the United States, claiming the lives of more than 600,000 individuals annually.
The International Agency for Research on Cancer (IARC) reported that in 2012, there were approximately 14.1 million newly diagnosed cancer cases worldwide, with lung cancer (13%), breast cancer (11.9%), and colorectal cancer (9.7%) being the most common types. Meanwhile, the Centers for Disease Control and Prevention (CDC) released data in February 2018 showing that in the United States, liver cancer affects about 22,000 men and 9,000 women annually and causes the deaths of approximately 16,000 men and 8,000 women each year.
Additionally, the increasing prevalence of brain disorders, such as Alzheimer’s and traumatic brain injury, is a significant factor driving market growth. The Alzheimer’s Association reported that in 2017, over 5 million individuals were estimated to be affected by Alzheimer’s disease, which was also identified as the sixth leading cause of death in the United States.
Restraints
PET-CT scan test outcomes may be negatively impacted in individuals with diabetes or those who have eaten within a few hours before the examination due to fluctuations in blood sugar or insulin levels. Additionally, motion artifacts and the limited size of the conventional PET-CT unit may pose challenges for very obese individuals. In contrast to standard PET, PET-CT imaging may be prone to motion artifacts. Furthermore, the scan is not recommended for all patients, including pregnant women, as it can cause harmful radiation and side effects to the body. All of these factors have the potential to hinder the growth of the PET-CT scanner device market.
Regional Insights
The global PET-CT scanner device market is classified based on geographical areas, including Africa, Latin America, Asia Pacific, North America, the Middle East, and Europe. The global PET-CT scanner device market is projected to be dominated by North America, primarily due to the increasing incidence of traumatic brain injury cases in the United States. As per the Centers for Disease Control and Prevention (CDC), in 2013, approximately 282,000 people in the U.S. were diagnosed with brain injuries, resulting in about 50,000 deaths. This condition is a significant contributor to disability and mortality in the United States.
The PET-CT scanner device market in Europe is anticipated to experience notable growth due to the large number of installed devices and the presence of major industry players such as Koninklijke Philips N.V. and Siemens AG, among others. These companies are contributing a significant share of revenue to the market. As per the European Association of Nuclear Medicine (EANM) Annual Congress in France in 2012, PET/CT accounted for 92% of the installed systems among the 577 providers of PET and/or PET/CT in Western Europe.
Furthermore, PET-CT’s installed base is transitioning from bigger organizations to environments like private practices and general hospitals. The increase in government funding is also a significant driver of technology adoption. As an illustration, the National Health Service (NHS) of England now centrally funds PET-CT as of August 2015.
Competitive Landscape
Major players, including Siemens AG, Mediso Ltd., Shimadzu Corporation, Positron Corporation, Hitachi, Ltd., PerkinElmer, Inc., General Electric Co., Yangzhou Kindsway Biotech Co. Ltd., Koninklijke Philips N.V., and Toshiba Corporation, are operating in the global PET-CT scanner device market. PET/CT manufacturers are constantly introducing new designs that utilize advanced technology to achieve more accurate measurements of metabolic processes and data quantification. This technology is capable of assessing neurologic disease, cancerous tissue, and cardiac blood flow (perfusion) with greater precision.
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The market size value in 2023 |
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of PET-CT Scanner Device 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 Globalย PET-CT Scanner Device Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusionย
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continuedโฆ!
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