According to the report, the PET-CT scanner devices market size was valued at US$ 210 Mn in 2020 and is expected to reach US$ 310 million by 2030, poised to grow at a CAGR of 3% from 2021 to 2030.
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.
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.
Cancer Deaths Major Cause of Concern among Individuals
In 2020, around several million people in Europe died due to cancer. Breast cancer was accounted for a significantly high percentage of all diseases. A rise in the sales of PET-CT scanner devices was observed in Europe the same year. Moreover, in 2021, there will be a relatively high number of newly diagnosed cancer cases and cancer deaths in the U.S. This is likely to generate more demand for equipment in the PET-CT scanner devices market during the year and in the forthcoming period.
The price for PET-CT scanner devices is decreasing due to increased production and competition. This is believed to generate new opportunities for manufacturers as well as consumers. Advancements in scanning devices now provide improved localization of activities to normal vs abnormal structures, and reduced scan time compared to previous versions. Other improvements in the classification of inflammatory injuries, identification of serendipitous anomalies, CT visualization of PET-negative lesions, recognition of unusual or irregular sites, and others are contributing to the growth of the PET-CT scanner devices market during the forecast period.
Rise in Prevalence of Diseases Fuels Demand for PET-CT Scanner Devices
The frequency and pervasiveness of conditions such as cancer, Alzheimer’s, and cardiovascular diseases are increasing globally, which is creating the demand for medical devices such as PET-CT scanner devices. Advancements for making PET-CT scanners more mobile are generating high demand in developed economies. Moreover, PET-CT scanner devices provide anatomic and operative information, which is identified as significant in the care of oncology patients.
The PET-CT scanner devices used for oncology have valued over 85% market share in 2020. Manufacturers are focusing on developing devices to completely capture the oncology segment, which will prove beneficial for the PET-CT scanner devices market in the upcoming years. The rise in hospital visits of individuals to perform tests is significantly contributing to the growth of the PET-CT scanner devices market in the hospital segment.
Portable/Stationary to Dominate Global Market
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 2030, 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.
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 2030. 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.
In 2019, the U.S. held a prominent share of the PET-CT scanner devices market in North America. The country is expected to retain market share during the forecast period. Robust healthcare infrastructure and quick adoption of advanced imaging equipment can be attributed to the dominance of the U.S. of the PET-CT scanner devices market in the region.
Asia Pacific is likely to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by players, especially in China and India, are expected to drive the PET-CT scanner devices market in the region.
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.
Report Scope of the PET-CT Scanner Devices Market
|Market Size||US$ 310 million by 2030|
|Growth Rate||CAGR of 3% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Companies Mentioned||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.|
Global PET-CT Scanner Devices Market
By Slice Count
By End User
Scope of the Report
The report on the global PET-CT scanner devices market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2021 to 2030. The report provides the revenue of the global PET-CT scanner devices market for the period 2019–2030, considering 2021 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global PET-CT scanner devices market from 2021 to 2030.
The report has been prepared after extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with key industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global PET-CT scanner devices market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global PET-CT scanner devices market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Moreover, the report sheds light on changing competitive dynamics in the global PET-CT scanner devices market. These serve as valuable tools for existing market players as well as entities interested in participating in the global PET-CT scanner devices market.
The report also delves into the competitive landscape of the global PET-CT scanner devices market. Key players operating in the global PET-CT scanner devices market have been identified and each one of these has been profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are attributes of players in the global PET-CT scanner devices market that have been profiled in this report.
Research Objectives and Research Approach
The comprehensive report on the global PET-CT scanner devices market begins with an overview, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of product.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that have been appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global PET-CT scanner devices market in terms of modality, slice count, application, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. Such valuable insights enable market stakeholders to make informed business decisions for investment in the global PET-CT scanner devices market.
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