PET-CT Scanner Device Market Statistics - 2030
The global PET-CT scanner device market was valued at $1,876.14 million in 2020, and is projected to reach $3,202.48 million by 2030, registering a CAGR of 5.5% from 2021 to 2030.
Positron emission tomography is also called as PET imaging or a PET scan, which is a type of nuclear medicine imaging. It uses small amounts of radioactive materials called radiotracers or radiopharmaceuticals, a special camera and a computer to evaluate organ and tissue functions. It can detect the early onset of disease before other imaging test by identifying changes at the cellular level. It can diagnose heart diseases, cancer, gastrointestinal, endocrine, and neurological disorders. Radiotracers that are used in it usually accumulate in tumors or regions of inflammation and bind to the specific proteins in the body. For instance, F-18 fluorodeoxyglucose (FDG) is a common radiotracer that gets absorbed in cancer cells. Further, it can be detected in the area of examination at the time of imaging. It has various advantages to use like it gives greater detail with higher level of accuracy. Moreover, it provides greater convenience for the patient who undergoes PET-CT scan.
The growth of the PET-CT scanner device market is driven by rise in prevalence of chronic illnesses throughout the world, growth in demand for effective diagnostic systems, and increased coverage for PET-CT scanning under Medicare. Moreover, surge in use of PET-CT for cancer diagnosis, development of newer products, and increase in investments in R&D by companies are other factors that contribute toward the growth of the market. However, limited shelf life and inadequate availability of radiopharmaceuticals are expected to hinder the market growth. Conversely, improvement in healthcare infrastructure in emerging nations offers the lucrative growth of the market.
What is the Impact of COVID-19 Pandemic on PET-CT Scanner Device Market?
The application of PET imaging makes it possible to monitor vital pathophysiological alternations of COVID-19 at the molecular level, and thus provides essential guidance for the subsequent diagnosis, evaluation, and treatment of COVID-19. F-labeled fluorodeoxyglucose (18F-FDG), a radiolabeled glucose analogue, is still the most commonly-used PET imaging agent in COVID-19 cases, and the integrated PET/CT system can be utilized to characterize the functional and structural changes of COVID-19 simultaneously. This use of devices in the diagnosis and evaluation of the COVID-19 helped the PET-CT scanner devices market to gain its position.
The impact of COVID-19 on the PET-CT scanner device market was recorded to be fairly positive. This was attributed to increasing use of PET-CT scan device in the diagnosis, evaluation, and treatment of COVID-19. Moreover, the cancer patients undergoing radiation therapy are at an elevated risk for the development of more severe disease. The demand for PET CT scanner devices is anticipated to rise as individuals with cancer are worried about the COVID-19 effects on them which also impacted the growth of the market.
The global PET-CT scanner device market is segmented into type, service provider, slice count, isotope/detector type, application, and region. On basis of type, the market is bifurcated into stationary scanners and portable/mobile scanners. Depending on service provider, it is classified into hospitals, diagnostic centers, and research institutes. By slice count, it is categorized into low slice scanner (<64 slices), medium slice scanner (64 slices), and high slice scanner (>64 slices). As per isotope/detector type, it is fragmented into flurodeoxyglucose (FDG), 62Cu ATSM, 18 F sodium fluoride, FMISO, gallium, thallium, and others. The applications covered in the study include oncology, neurology, cardiology, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Type Segment Review
By type, the stationary scanners segment dominated the global PET-CT scanner device market in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in demand for stationary scanner, surge in patient awareness toward stationary scanners, advancements in the PET-CT scan devices, rise in number of cases of cancer, cardiology diseases, and the launch of effective products.
Service Provider Segment Review
Depending on service provider, the hospitals segment was the major contributor to the global PET-CT scanner device market in 2020, and is anticipated to lead during the forecast period, due to increase in number of hospitals, surge in patient awareness toward treatment in hospitals, rise in the healthcare infrastructure, and increase in adoption of PET-CT scanner device.
By Service Provider
Hospitals segment held a dominant position in 2020 and will continue to maintain the lead over the forecast period.
Slice Count Segment Review
As per slice count, the medium slice scanner (64 slices) segment led the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in demand for medium slice scanner, surge in applications of medium slice scanners, advancements in the PET-CT scan devices, and increase in the rate of imaging with medium slice scanners.
Isotopes/Detector Types Segment Review
According to isotope/detector type, the flurodeoxyglucose (FDG) was the prominent segment in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in applications of FDG, decline in the number of side effects of FDG, and surge in prevalence of chronic diseases.
By Type
Stationary Scanners segment is projected as one of the most lucrative segment.
Application Segment Review
By application, the oncology segment exhibited the highest growth in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in prevalence of cancer disease, surge in patient awareness towards early diagnosis & treatment of cancer, changes in lifestyle of population, and increase in consumption of tobacco among the population.
Regional Analysis and Review
North America accounted for major share of the global PET-CT scanner device market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in number of chronic disease patients, surge in demand for PET-CT scan devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities coupled with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced scanner devices, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of PET-CT.
By Region
Asia-Pacific would exhibit the highest CAGR of 6.8% during 2021-2030.
Key Benefits for Stakeholders
- This report provides a detailed quantitative analysis of the current PET-CT scanner device market trends and forecast estimations from 2020 to 2030, which assists to identify the prevailing market opportunities.
- An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of factors that drive and restrain the growth of the global the PET-CT scanner device market is provided.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030, in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook of the market.
PET-CT Scanner Device Market Report Highlights
| Aspects | Details |
 By Type |
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 By SERVICE PROVIDER |
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 By SLICE COUNT |
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 By ISOTOPE/DETECTOR TYPE |
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 By APPLICATION |
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 By Region |
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 By Key Market Players |
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Analyst Review
In accordance to several interviews conducted, the utilization of PET-CT scanner device is likely to witness a significant rise with increasing diagnosis of chronic diseases. PET-CT scanner device market has piqued the interest of healthcare providers because of several benefits offered by these devices to diagnosis and treatment of clinical disorders coupled with the evolving indications for PET-CT technology. There have been remarkable technological advancements in PET-CT scanner devices to provide advanced treatment options for the management of chronic disease patients.
The factors such as the rise in number of chronic diseases patients as the mean age of the global population shifts toward older age groups and the increase in amount of stress in daily life add to the growth of diagnostic PET-CT systems market. In addition, emerging markets are gaining more importance for the majority of the PET-CT device manufacturers and distributors. Rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations, and this is expected to offset the challenging conditions in mature markets such as North America and Europe.
North America is expected to remain dominant during the forecast period, due to increase in demand for PET-CT, rise in prevalence of chronic diseases, and presence of major key players along with R&D centers. Moreover, Asia-Pacific and LAMEA are expected to offer lucrative opportunities to the key players during the forecast period, due to increase in number of hospitals along with surge in utilization of PET-CT scanner devices.
The total market value of PET-CT Scanner Device market is $3,202.48 million in 2030.
Top companies such as General Electric Company, Hitachi Ltd., Siemens AG, Toshiba Corporation, Koninklijke Philips N.V., Shimadzu Corporation held a high market position in 2020. These key players held a high market postion owing to the strong geographical foothold in different regions.
Stationary scanners segment is the most influencing segment owing to increasing investment by government and private organizations.
The forcast period for PET-CT Scanner Device market is 2020 to 2030
The market value of PET-CT Scanner Device market in 2020 is $1,876.14 million.
The base year is 2020 in PET-CT Scanner Device market
Increase in investment in the medical imaging and surge in geriatric population are the key trends in the PET-CT Scanner Device market report.
Asia-Pacific has the highest growth rate of 6.8% in the market which is growing due to presence of large patient population, strong presence of key players, increase in number of hospitals equipped with advanced medical imaging equipment along with surge in utilization of PET-CT scanner device.
Yes, the PET-CT Scanner Device market companies are profiled in the report.
Yes, the PET-CT Scanner Device market report provides PORTER Analysis
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