Global Positron Emission Tomography Market to Gain Impetus from Increasing Incidence of Cancer, Cardiovascular Diseases, and Neurological Disorders

According to a new research study by Transparency Market Research (TMR) on the global market for positron emission tomography (PET), the increasing incidence of cancer, cardiovascular diseases, and neurological disorders across the world has fueled the demand for PET significantly in the recent times.

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The market study, titled “Positron Emission Tomography Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” further states that the technical developments in the field of PET are likely to propel this market over the forecast period.

The widespread expansion of the application areas of PET, owing to the increasing preference for PET over MRI, is also projected to drive the market’s growth in the coming years. However, the high cost associated with PET equipment is expected to restrict this market from growing smoothly over the next few years, notes the market study.

The research report has analyzed the global PET market on the basis of its regional spread. According to it, the market has been segmented into Asia Pacific, Europe, North America, and the Rest of the World. North America led the worldwide PET market in 2013. The increased medical expenditure, propelled by the rising awareness regarding healthcare, has stimulated the PET market in North America over the last few years. In addition to this, the presence of a favorable reimbursement scenario in this region is likely to boost the North America PET market over the forecast period.

Asia Pacific is also witnessing a significant rise in the global PET market, states the research report. The growing awareness pertaining to nuclear imaging technologies is fueling the demand for PET in this region, resulting in remarkable growth in the Asia Pacific PET market.

The presence of a large patient pool suffering from cancer and various kinds of cardiovascular as well as neurological disorders is also boosting this regional market substantially. In addition to this, the recent boom in medical tourism in Asia Pacific is projected to stimulate this regional market during the forecast period, states the market study.

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The research report also presents analysis of the competitive landscape prevalent in the worldwide positron emission tomography market by profiling the major enterprises operating in it. As per the study, the market is highly concentrated, with the top three players (Siemens Healthcare, Philips Healthcare, and GE Healthcare) acquiring more than 80% of the overall market. Other prominent companies profiled in this market report are Positron Corp., Spectrum Dynamics Ltd., Segami Corp., MedX Holdings Inc., and Naviscan Inc.

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This release was published on openPR.