The global PET-CT scan market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are rising demand for PET-CT scanning under Medicare, increasing prevalence of chronic illnesses around the world, and rising demand for better diagnostic technologies. Increasing use of PET-CT solutions for cancer detection further drives market growth.
A PET-CT scan combines a Positron Emission Tomography (PET) scanner with an X-ray Computed Tomography (CT) scanner in a nuclear medicine procedure. This scanner enables persistent images from both devices and integrate them into a single superposed image. Due to its greater precision in pinpointing abnormal metabolic activity, application of artificial intelligence (AI) in medical business is driving demand for advanced diagnostic operations.
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PET/CT scanners are also quicker, which helps to eliminate motion artefacts. Owing to this unique combination of functional information received with PET and anatomic information gathered with CT, PET/CT systems have seen an increase in usage since their introduction into clinical practice. PET/CT systems provide numerous significant advantages over PET systems in a variety of applications.
Major Factors Driving Growth Of The Global PET-CT Scan Market:
Revenue growth of the global PET-CT scan market is significantly driven by rising prevalence of diseases such as cancer, Alzheimer\’s, and cardiovascular around the world. In developed economies, focus in making portable scanners is gaining traction to cater to rising demand for customers. Furthermore, PET-CT scanners provide anatomic and operative data, which has been identified as important in the therapy of oncology patients driving demand for market revenue growth going ahead.
Factors Restraining Growth Of The Global PET-CT Scan Market:
The global PET-CT scan market growth is substantially hampered by several unfavorable factors. Low shelf life and insufficient availability of radiopharmaceuticals are major factors expected to restrain market growth. Scan test findings of diabetic patients or people who consumed food a few hours before review could be harmed due to changes in blood sugar or blood insulin levels. Obese persons may also find it challenging to fit inside the opening of a standard PET-CT scanner further causing a slow-down in market growth.
Opportunities For Players Operating In The Global PET-CT Scan Market:
Untapped emerging markets, rising preference for multimodal diagnostic imaging systems, and increasing focus on image-guided medical interventions are all elements that can help PET-CT scanner manufacturers build their businesses. According to the National Center for Biotechnology Information, cardiovascular disorders are expected to be a major cause of death, accounting for roughly 30% of all deaths globally. As a result, rising frequency of lifestyle-related disorders has boosted demand for medical imaging, which is expected to open up growth opportunities for major industry players and new entrants.
PET-CT Scan Market Revenue Led By Product Type Segment:
Based on product type, the portable scanners/mobile scanners segment is expected to reach the highest revenue share over the forecast period. Small and medium-sized healthcare organizations are increasingly turning to mobile devices. Less expenses, faster installation time, cheap initial investment, and reduced patient travel are some of the advantages connected with mobile devices. Leading manufacturers such as GE, Philips, and Siemens provide a variety of portable PET-CT scanners.
PET-CT Scan Market Leading End-Use Segment:
Based on end-use, the hospital segment is expected to dominate all other segments in terms of revenue generation over the forecast period. Rising incidence of cancer and cardiovascular disorders, as well as government measures to provide sophisticated healthcare services to residents are factors expected to drive growth of this segment. Increasing need for diagnostic imaging methods for effective detection, rising geriatric population, and rising healthcare expenditure in developing nations such as India, China, and Japan are factors expected to drive segment’s growth.
North America Accounts For Largest Revenue Share In Global PET-CT Scan Market:
Among regional markets, North America emerged as the largest market for PET-CT scan in 2020, with the highest revenue share. Revenue growth in the North America market is mainly attributed to the region’s rising cases of traumatic brain injury patients, availability of well-established healthcare infrastructure, increasing demand for early disease diagnosis, and supportive government initiatives to promote health awareness about preventive healthcare.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific PET-CT scan market is expected to register the fastest growth in CAGR over the forecast period. This is due to increasing number of cases of gastrointestinal and endocrine diseases, rising healthcare expenditures connected to weight nuclear treatments as well as expanding trend of advanced imaging techniques.
Major Companies Profiled In The Report:
- General Electric Co.
- Toshiba Corporation
- Koninklijke Philips N.V.
- Siemens AG
- Hitachi, Ltd.
- Positron Corporation
- Mediso Ltd.
- Yangzhou Kingsway Biotech Co. Ltd.
- Shimadzu Corporation
- United Imaging Healthcare Co.
Strategies And Objectives Of Major Companies:
Some of the key players are concentrating their efforts on expanding their distribution networks in order to strengthen their positions.
- In May 2020, Philips and Paracelsus Clinics announced an eight-year strategic relationship to explore solutions that will make imaging equipment more accessible. It will aid in use of digitization and product optimization to increase quality and efficiency. Devices manufactured by companies are projected to give all beneficial solutions in medical industry as a result of rising collaboration strategies.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global PET-CT scan market is segmented on the basis of product type, slice count, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Stationary Scanners
- Portable Scanners/ Mobile Scanners
Slice Count Outlook (Revenue, USD Billion; 2023-2032)
- Low Slice Scanner (< 64 Slices)
- Medium Slice Scanner (64 Slices)
- High Slice Scanner (>64 Slices)
Application Outlook (Revenue, USD Billion; 2023-2032)
End-Use Outlook (Revenue, USD Billion; 2023-2032)
- Diagnostic Centers
- Research Institutes
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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