Press release
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 Market
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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