PET Scanners Market (By Type: PET/CT, PET/MRI; By Application: Oncology, Cardiology, Neurology; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

Market Synopsis

PET Scanners produce 3-dimensional images of abnormal cells, tissues, and organs to detect cancer, coronary artery diseases, and brain disorders like epilepsy, Alzheimer’s, dementia, etc. PET scans identify chemical and physiological changes in the body, unlike structural changes like other imaging modalities. A minute amount of radioactive tracers are injected in the patients’ body to diagnose cellular changes in tissues and organ in real time. A PET scan is conducted followed by CT or MRI to produce high contrast images for accurate diagnosis, help in decision making, evaluate the prognosis of cancer, and identifies seizures and other central nervous systems. According to Statista, nearly 6.4 PET scans were conducted per 1,000 population in 2018 and it rose to 6.8 scans per 1,000 population in 2020. Nearly 2.3 million women across the globe were diagnosed with breast cancer, leading to deaths of 685,000. Nearly,7.8 million women were alive who were diagnosed with breast cancer over a period of 5 years, making it the world’s most prevalent cancer. Studies published in the National Centre for Biotechnology Information, states that, the diagnostic accuracy of PET-CT was 93.5% and the false positive rate is 6.5% only. The World Nuclear Organization states that around 20 million nuclear medicine treatments are performed annually among 311 million Americans, around 10 million among 500 million Europeans, and around 560,000 among 21 million Australians. Numerous hardware and software advancements with reduced artifacts and increased research activities to identify detection accuracy of these techniques in diagnosis of cancers and other diseases is boosting the market growth.

Market Influencer

According to the World Nuclear Association April 2021, around 10,000 hospitals use radioisotopes in medicine worldwide, and about 90% of the procedures are for diagnosis. As per the same source, in developed countries (about one-quarter of the world population), the frequency of diagnostic nuclear medicine is 1.9% per year, and the frequency of therapy with radioisotopes is about one-tenth. The need for improved tools for early and precise diagnosis, growing need for developing technologies requiring low dose of radioactive tracer, and need to reduce radiologist’s workload, are factors influencing the market growth. However, continuous changes in reimbursement policies and lack of skilled technicians are restricting the market growth.

The key players operating in the PET scanners market Siemens Healthineers, GE Healthcare, Hitachi Ltd., Koninklijke Phillips N.V., Mediso Ltd., Perkin Elmer, Inc., Positron Corporation, Shimadzu Corporation, Toshiba Corporation, and Yangzhou Kindsway Biotech Co. Ltd.

Market Segmentation

By Type Outlook

• PET-CT
• PET-MRI

By Application Outlook

• Oncology
• Cardiology
• Neurology
• Others

By End user Outlook

• Hospitals
• Diagnostic Imaging Centers
• Others

By Region Outlook

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East And Africa