Global Market Study on PET/CT Systems: Rising Demand for Cancer Monitoring to Fuel Adoption

PET/CT systems are expected to continue to incorporate the highest clinical performance of PET as well as CT, and further evolve in parallel with these modalities for a long period. Constant developments in the
radiopharmaceuticals used by PET/CT systems and increased government support for the research and development of these radiopharmaceuticals for medical imaging is expected to propel the PET/CT systems market during the forecast period. According to the latest research by PMR, the global PET/CT systems market is expected to account for more than 3.0 billion US$ in terms of value, by the end of 2028. The PET/CT systems report also projects a significant growth potential, with an average Y-O-Y growth rate pegged at 6.2% through 2028.

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PET/CT Systems Market: Dynamics
High capital investments are expected to be recovered by increased medical efficacy and patient throughput, leading to a decrease in the effective cost per image. According to various research studies, excluding additional costs, the usage of PET/CT systems is cost-efficient as these systems help avoid additional invasive procedures or imaging examinations. According to the president of Clinical Radiologists, Springfield, a new PET/CT systems costs around US$ 2 Million and a high-end CT system costs around US$ 1 Million. It costs around US$ 600,000 - US$ 700,000 less to buy Biograph mCT, as compared to purchasing 2 different high-end systems. Moreover, the device can be stored in a single room.

Furthermore, PET is quite a lengthy procedure that requires transmission as well as emission scans. The fusion image by PET/CT systems was projected to result in time saving for almost about 20-30 minutes per patient, which led to a 40% increase in patient output. According to a research study published by National Center for Biotechnology Information, the U.S., the metastases found in 16% of cancer patients, which was initially deemed resectable, led to cost savings amounting to US$ 1,066 per patient with the usage of PET/CT systems.

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However, the short shelf-life associated with the radiopharmaceuticals used by PET/CT systems are expected to hinder the market growth for PET/CT systems. Radioactive isotopes possess their own disintegration pattern, which depends upon energy, matter, and rate of characteristic. Shorter half-life elevates higher radiation within a short span, which is a major disadvantage for the transportation of radioisotopes.

For instance, a major challenge in the usage of FDG is the extremely short half-life of 18F, which equals to approximately 2 hours. In practice, it indicates that every 2 hours of the travel time between the cyclotrons that is responsible for producing the fluorodeoxyglucose to the PET-CT systems replicate double the costs of FDG, which are the only largest variable costs incurred by any PET-CT systems business.

PET/CT Systems Market: Competition Tracking

The PET/CT systems report tracks some of the key companies operating in the PET/CT systems market, which include Siemens AG; Hitachi, Ltd.; Koninklijke Philips N.V.; Canon, Inc.; General Electric Company; MinFound Medical Systems Co., Ltd.; and Neusoft Corporation.

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