Positron Emission Tomography (PET) Scanners Market will generate new growth opportunities 2021-2028 | GE Healthcare, Toshiba Corporation, Koninklijke Philips N.V., Siemens Healthineers

Positron Emission Tomography (PET) scanners are commonly combined with computed tomography X-ray for the treatment of many disorders. PET systems are categorized as full ring PET systems or partial ring PET systems based on their operational and geometrical abilities. A full ring PET imaging system is made up of numerous rings scintillator detectors that encompass a complete 360-degree angular rotation around the volume being scanned. A rotating partial ring PET imaging system is made up of partial ring detectors.

The global positron emission tomography (PET) scanners market is expected to be worth US$ 1,107.6 million in 2017 and is expected to grow to US$ 1,549.7 million by 2027.

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Global Positron Emission Tomography (PET) Scanners Market: Drivers

Increased radiopharmaceutical adoption is expected to drive the global positron emission tomography (PET) scanners market growth during the forecast period. To improve medical imaging of tumors, radiopharmaceuticals securely transport radioactive isotopes inside specific human tissues. Gallium-68 is a radiopharmaceutical that is utilized in cancer diagnostics.

Global Positron Emission Tomography (PET) Scanners Market: Opportunities

Research and development of innovative radiotracers are expected to provide attractive growth prospects for market players. For instance, researchers from the University of Aveiro in Portugal in April 2020 discovered that pyrazole, an organic compound, is a significant scaffold for the production of 18F-labeled radiotracers for PET imaging.

Global Positron Emission Tomography (PET) Scanners Market: Restraints

The high price of PET scans is expected to hamper the global positron emission tomography (PET) scanners market growth during the forecast period. For instance, in the U.S. a PET-CT scan can cost around US$ 5,000 and above

Key Takeaways:

In 2019, Full Ring PET Scanner accounted for the largest share in the global positron emission tomography (PET) scanners market, contributing for 84.3 % of the market share, trailed by Partial Ring PET Scanner. Technological advances and the benefits provided by full-ring pet scanners are expected to drive the segment’s growth over the forecast period.

The oncology segment was worth US$ 906.1 million in 2019 and is expected to be worth US$ 1,270.4 million by 2027, growing at a CAGR of 4.2 % between 2020 and 2027. Cancer's rising prevalence is expected to fuel the segment's growth over the forecast period.

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In 2019, hospitals accounted for a major share in the global positron emission tomography (PET) scanners market, representing 35.3 % of the market share, trailed by cardiology and neurology, respectively.

Market Trends

The growing incidence of neurological disorders is expected to drive the global positron emission tomography (PET) scanners market growth during the forecast period. According to the Alzheimer's Association, around 5.8 million people in the US of age 65 years and above had Alzheimer's dementia in 2020.

Furthermore, R&D of PET imaging in the treatment of Parkinson's disease is expected to aid in the global positron emission tomography (PET) scanners market growth during the forecast period. For instance, in April 2020, researchers from ROTOP Pharmaka Ltd., Germany, published on the efficacy of a radiotracer [18F] FESCH for in vivo and in vitro imaging of the adenosine A2A receptor in the rat brain using autoradiography and small-animal PET/ magnetic resonance.

Global Positron Emission Tomography (PET) Scanners Market: Competitive Landscape

Some of the key players contributing to the global positron emission tomography (PET) scanners market are Positron Corporation, Siemens Healthineers, Toshiba Corporation, Yangzhou Kindsway Biotech Co., Ltd., Koninklijke Philips N.V., Koninklijke Philips N.V., Mediso Ltd., GE Healthcare, and Hitachi Medical Corporation.

Global Positron Emission Tomography (PET) Scanners Market: Key Developments

February 2019: Siemens Healthineers reported the installation of Biograph Vision PET/CT at the Hospital of the University of Pennsylvania (HUP) in Philadelphia.

September 2018: Positron Corporation announced the availability of its Attrius PET scanner to a leading cardiology practice in the U.S.

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

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