Positron Emission Tomography Market Insights:
Positron emission tomography market was valued at USD 976.5 Million in 2021, registering a CAGR of 4.6% during the forecast period (2022-2030), and the market is projected to be worth USD 1,463.7 Million by 2030. Positron emission tomography played a crucial role during the COVID-19 pandemic due to increased public awareness in terms of diagnosis and treatment. For instance, in 2021, the study presented at the annual meeting conducted by the Society of Nuclear Medicine and Molecular Imaging (SNMMI) emphasized the accuracy of positron emission tomography (PET) for the measurement of COVID-19 effects on the brain. The deficits in neuronal function followed by cognitive impairment were found in new cases of COVID-19 patients who underwent PET brain scans due to the requirement for inpatient treatment. Thus, the wide application of PET scans as diagnostic response to novel diseases through pathophysiological alterations on the molecular level is anticipated to accelerate the growth of the positron emission tomography market during the forecast period.
Additionally, the growing demand for radiopharmaceuticals for the PET analysis and a combination of X-ray tomography (CT) is expected to witness significant growth during the projected period. For instance, the World Nuclear Association reported in 2021 that globally over 10,200 hospitals utilize radioisotopes in therapeutics and over 90% of the procedures are conducted for the diagnostic purposes. Thus, the rising preference for PET in radiopharmaceuticals is estimated to fuel the growth of the positron emission tomography market. Based on region, North America contributed the largest market share in 2021 owing to the growing demand for precision diagnostics of multiple neurological, oncological, and cardiological diseases, the large availability of advanced medical treatment devices, and rising investments in research and development of new therapeutic innovations. Thus, due to the above-mentioned factors, the positron emission tomography market is estimated to grow during the forecast period.
Positron Emission Tomography Market Dynamics:
The positron emission tomography (PET) scan is the imaging test that helps in revealing the biochemical or metabolic function of the organs and tissues. A mild radioactive drug is used in the PET scan to highlight the areas of the patient body with more active cells than normal. The procedure helps in the diagnosis of chronic conditions such as cancer, heart disease, Alzheimer’s disease and others.
Driver:
The globally rising preference for PET scans in terms of radio-chemistry and biology owing to the increased sensitivity and high resolution is projected to drive the growth of the positron emission tomography market. Furthermore, the augmented demand for PET scans for the treatment and identification of diseases like cancer, and heart disease, cerebrovascular diseases, epilepsy, Huntington’s disease, and Parkinson’s disease are the major factors driving the growth of the market.
Restraint:
The lack of government reimbursement initiatives and the globally high costs of PET and SPECT procedures hinder the growth of the positron emission tomography market. Additionally, the side effects such as itching, nausea, headache, and mild rash due to the usage of iodine-based contrast dye as the CT component are anticipated to hamper the positron emission tomography market growth due to exposure to the radioactive tracer in PET scans.
COVID-19 Analysis of Positron Emission Tomography Market:
The positron emission tomography market has been significantly impacted due to the COVID-19 pandemic in many different parts of the world. The factors such as poor supply chain, slow medical device manufacturing rate, limited availability of raw materials, and economic slowdown are the major impacts of COVID-19 on hampered the growth of the positron emission tomography market. Shipments were impacted during the initial lockdown due to a labor shortage and the closure of a manufacturing facility. The pandemic’s initial effects in China were tremendous. However, the nation’s circumstances have stabilized, and all product and service production rates have increased. As a result, it is determined that COVID-19’s overall impact on the positron emission tomography market is moderate. Post covid-19 there was a positive impact on the positron emission tomography market as consumers were more focused on health.
Positron Emission Tomography Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Million) | 1,463.7 Million |
| CAGR (2022-2030) | 4.6% |
| By Product Type | Full Ring PET Scanners, and Partial Ring PET Scanners |
| By Application | Cardiology, Neurology, Oncology, and other Applications |
| By End-Use | Hospitals, Diagnostic centers, and others |
| By Geography | North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe) Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific) Latin America- (Brazil, Argentina, Chile, Rest of Latin America) Middle East and Africa- (GCC, Turkey, Israel, and the Rest of MEA) |
| Key Players | Spectrum Dynamics Ltd., GE Healthcare, Neusoft Medical Systems, Agfa Healthcare, Gamma Medica Inc., Oncovision, Koninklijke Philips N.V., Positron Corporation, Siemens AG, Segami Corporation, Naviscan Inc. |
Positron Emission Tomography Market Segment Analysis:
By Product Type
The product type segment is bifurcated into full-ring PET scanners and partial-ring PET scanners. The full-ring PET scanners segment is estimated to contribute the largest share of the market due to the precise three-dimensional imaging and hybrid nature. The factors such as high sensitivity, improved resolution, and enhanced compact and small tunnel design of the product are anticipated to fuel the growth of the full-ring PET scanners segment during projected period. Additionally, the partial ring PET scanners segment is also anticipated to witness the significant growth during the forecast period owing to the high dependence on quantitative measures for analysis, targeted approach of scans, and large availability of flat probes.
By Application
The application segment is categorized into cardiology, neurology, oncology, and other applications. In 2021, the oncology segment has the largest share contribution to the growth of the positron emission tomography market. The increased use of PET scanners for inspection of lung, breast, and thyroid cancer is the major factor that supports the growth of the oncology segment owing to the surging incidences of cancer. Moreover, the neurology segment is also expected to witness a substantial growth during the forecast period. The factors such as accurate diagnosis of mental function deterioration like Alzheimer’s and Parkinson’s disease, fast interpretation in a single scan, and non-invasive quantification of cerebral blood flow support the contribution of neurology segment to the growth of the positron emission tomography market.
By End-Use
The end-user segment is divided into hospitals, diagnostic centers, and others. The hospital segment held the leading share in the growth of the positron emission tomography market. The factors such as access to advanced medical machines, the presence of skilled medical professionals with technical knowledge of such advanced machine operation, and increased investments in the medical facilities are expected to support the growth of the hospital segment. Additionally, the diagnostic imaging center segment is also estimated to support the growth of the positron emission tomography market owing to the favorable reimbursement policies coupled with the growing development of advanced medical devices and fast delivery of the test results. Thus, the above-mentioned segments are expected to boost the growth of the positron emission tomography market during the forecast period.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, North America contributed the largest share to the growth of the positron emission tomography market. The United States within North America is estimated to record substantial growth during the forecast period. The factors such as rising incidences of cancer among the population, the large presence of key market players, and increased expenditure on the advancement of diagnostic machines such as CT, PET, and MRI are anticipated to support the positron emission tomography market growth in the United States.
The Asia Pacific is also projected to support the growth of the positron emission tomography market during the forecast period owing to the factors such as developing healthcare infrastructure, the growing prevalence of cancer and heart diseases, especially in India within, and the rising availability of skilled medical professionals fuel the market growth in the Asia Pacific region.
Positron Emission Tomography Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- Spectrum Dynamics Ltd.
- GE Healthcare
- Neusoft Medical Systems
- Agfa Healthcare
- Gamma Medica Inc.
- Oncovision
- Koninklijke Philips N.V.
- Positron Corporation
- Siemens AG
- Segami Corporation
- Naviscan Inc.
Recent Development
- In October 2020, the German medical device firm named Siemens Healthineers launched the product called Biograph Vision Quadra which is a CE-Marked PET/CT (positron emission tomography/computed tomography) scanner with multiple clinical applications that aids in the translational research of specific diagnosis.
- In July 2021, GE Healthcare collaborated with Oncovision and Quibim, Full Body Insight for building the innovative complete body CT/PET scanner which provides immediate whole-body imaging of the patient.
- In March 2021, the Japan-based firm named Shimadzu Corporation released the BresTome TOF-PET system which is the world’s first time-of-flight PET system for providing overall functional imaging systems. The system helps in the generation of imaging scans of brain tumors, breast cancers, and epilepsy, especially within the Japanese domestic market.
Table of Content
- Introduction
- Market Introduction
- Market Research Methodology
- Research Process
- Primary Research
- Secondary Research
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Limitations of the Study
- Product Picture of Positron Emission Tomography
- Global Positron Emission Tomography Market: Classification
- Geographic Scope
- Years Considered for the Study
- Research Methodology in brief
- Parent Market Overview
- Overall Positron Emission Tomography Market Regional Demand
- Research Programs/Design
- Market Breakdown and Data Triangulation Approach
- Data Source
- Secondary Sources
- Primary Sources
- Primary Interviews
- Average primary breakdown ratio
- Market Dynamics
- Drivers
- Drivers
- Restraints
- Restraints
- Opportunity
- Impact forces on market dynamics
- Impact forces during the forecast years
- Industry Value Chain
- Upstream analysis
- Downstream analysis
- Distribution Channel
- Direct Channel
- Indirect Channel
- Potential Customers
- Manufacturing/Operational Cost Analysis
- Pricing Analysis by Region
- Key Technology Landscape
- Regulatory Analysis
- Porter’s Analysis
- Supplier Power
- Buyer Power
- Substitution Threat
- Threat from New Entry
- Competitive Rivalry
- PESTEL Analysis
- Political Factors
- Economic Factor
- Social Factors
- Technological Factor
- Environmental Factors
- Legal Factor
- Covid-19 impact on Global Economy
- Covid-19 impact on Positron Emission Tomography demand
- Post-Covid Impact on Positron Emission Tomography Market Demand
- Impact Analysis of the Russia-Ukraine Conflict
- Drivers
- Global Positron Emission Tomography Market Segmentation, by Revenue (USD Million), (2022-2030)
- By Product Type
- Full Ring PET Scanners
- Partial Ring PET Scanners
- By Application
- Cardiology
- Neurology
- Oncology
- Other Applications
- By End Use
- Hospitals
- Diagnostic centers
- Others
- By Product Type
- Global Positron Emission Tomography Market Overview, By Region
- North America Positron Emission Tomography Market Revenue (USD Million), by Countries, (2022-2030)
- US
- By Product Type
- By Application
- By End Use
- Canada
- Mexico
- US
- Europe Positron Emission Tomography Market Revenue (USD Million), by Countries, (2022-2030)
- France
- UK
- Spain
- Russia
- Italy
- BENELUX
- Asia Pacific Positron Emission Tomography Market Revenue (USD Million), by Countries, (2022-2030)
- China
- Japan
- Australia
- South Korea
- India
- ASEAN
- North America Positron Emission Tomography Market Revenue (USD Million), by Countries, (2022-2030)
- Latin America Positron Emission Tomography Market Revenue (USD Million), by Countries, (2022-2030)
- Brazil
- Argentina
- Chile
- Middle East and Africa Positron Emission Tomography Market Revenue (USD Million), by Countries, (2022-2030)
- GCC
- Turkey
- South Africa
- Global Positron Emission Tomography Market Revenue: Competitive Analysis, 2021
- Key strategies by players
- Revenue (USD Million and %), By manufacturers, 2021
- Player Positioning by Market Players, 2021
- Competitive Analysis
- Spectrum Dynamics Ltd.
- Business Overview
- Business Financials (USD Million)
- Product Category, Type, and Specification
- Main Business/Business Overview
- Geographical Analysis
- Recent Development
- Swot Analysis
- GE Healthcare
- Neusoft Medical Systems
- Agfa Healthcare
- Gamma Medica Inc.
- Oncovision
- Koninklijke Philips N.V.
- Positron Corporation
- Siemens AG
- Segami Corporation
- Naviscan Inc.
- Spectrum Dynamics Ltd.
- Market Research Findings & Conclusion
Disclaimer
Research Methodology
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