PET-CT Scanner Devices Market to Receive Overwhelming Hike in Revenues by 2024

PET-CT Scanner Devices Market: Introduction

According to the report, the global PET-CT scanner devices market was valued over US$ 200 Mn in 2020 and is projected to expand at a CAGR of ~3% from 2021 to 2031. Imaging with equipment that combines positron emission tomography and computed tomography (PET/CT) provides benefits of both in one procedure and one device. It is a highly sensitive imaging technique used in oncology, cardiology, neurology, and in infectious and inflammatory diseases. The PET scan shows areas with increased metabolic activity, while the CT scan shows detailed anatomical locations.

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Technological Advancements to Drive Global Market

The application of AI (Artificial Intelligent) in medical devices such as imaging equipment has increased the number of diagnostics procedures. Currently, AI offers more augmented interpretation, as it provides information to improve the identification process. Al has opened a new avenue in the field of cancer imaging and precision oncology. The AI algorithm is able to reduce noise and increase contrast compared to standard images, and takes lesser time for PET/CT imaging test.

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Portable/Stationary to Dominate Global Market

The global PET-CT scanner devices market has been segmented based on modality, application, slice count, end user, and region. In terms of modality, the global PET-CT scanner devices market has been bifurcated into portable/stationary and bench-top. The portable/stationary segment is anticipated to account for a major share of the global market by 2031, due to increase in the demand for mobile PET-CT units. In 2019, United Imaging Healthcare launched mobile digital PET/CT system with Shared Medical Services in the U.S. The company’s goal is to make PET/CT available in locations that do not currently have it.

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Hospitals to be Major End User

In terms of end user, the PET-CT scanner devices market has been divided into hospitals, diagnostic centers, and others. The hospitals segment is expected to expand at a high CAGR during the forecast period, due to increase in the demand for installation of new PET-CT machines in the upcoming hospital projects across the globe.

North America to Lead Global Market

The global PET-CT scanner devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global PET-CT scanner devices market in 2020, followed by Europe. North America accounted for a major share of the global PET-CT scanner devices market in 2020, due to rise in installation of PET-CT scanner devices and demand for disease risk assessment services for oncology treatment. The PET-CT scanner devices market in Asia Pacific is likely to expand at a high CAGR from 2021 to 2031. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are projected to drive the PET-CT scanner devices market in the region.

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Competition Landscape

The report also presents profiles of leading players in the global PET-CT scanner devices market. These include Bruker Corporation, Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Mediso Ltd., MinFound Medical Systems Co., Ltd., MR Solutions, Neusoft Corporation, SOFIE, Canon, Inc., and United Imaging Healthcare Co. Leading companies in the global PET-CT scanner devices market focus on strengthening the distribution network and expanding product range to gain market share.
For instance, in May 2020, Philips entered into an eight-year strategic partnership with Paracelsus Clinics to offer solutions that maximize the availability of imaging systems, and leverage digitalization and process optimization to realize quality and efficiency improvements.

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