Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Positron Emission Tomography (PET) is a clinical imaging technology used in the diagnosis of various diseases such as cancer and Alzheimer’s disease. The basic principle of PET imaging involves the detection of a pair of gamma rays emitted indirectly by a radiotracer. PET can also distinguish between non-malignant tumors and malignant tumors.

The global positron emission tomography (PET) scanners market is estimated to account for US$ 1,107.6 Mn in 2019 in terms of value and is expected to reach US$ 1,549.7 Mn by the end of 2027.

Global Positron Emission Tomography (PET) Scanners Market: Drivers

Increasing prevalence of cancer is expected to propel growth of the global positron emission tomography (PET) scanners market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, availability of Medicare coverage for PET scanning is also expected to aid in growth of the market. PET/computed tomography (PET-CT) scanners using the radioisotope 18F-fluorodeoxyglucose (FDG) offer high success rate in cancer diagnosis. The use of these scanners is also supported by expanded coverage for PET imaging in cancers that include, lung cancer, breast cancer, melanoma, lymphoma, head and neck cancer, esophageal cancer, colorectal cancer, cervical cancer, myeloma, thyroid cancer and ovarian cancer.

Full Ring PET Scanner held dominant position in the global positron emission tomography (PET) scanners market in 2019, accounting for 84.3% share in terms of value, followed by Partial Ring PET Scanner, respectively

Figure 1. Global PET Scanners Market Share (%) Value, by Product Type, 2019

Positron Emission Tomography (PET) Scanners  | Coherent Market Insights

Global Positron Emission Tomography (PET) Scanners Market: Restraints

Continuous reimbursement cutbacks are expected to hinder growth of the market. Declining payer reimbursement for PET and SPECT procedures globally has resulted in declining number for outpatient volumes affecting patient access to high quality, cost effective imaging and diagnostic services.

Moreover, short half-life of radiopharmaceuticals is also expected to limit growth of the market. Fluoro-deoxy glucose (FDG), which incorporates fluorine-18 as the tracer is the most commonly used radiotracer in PET imaging. The radiotracer has a half-life of just under two hours. This limits its utility in diagnostic imaging.

Global Positron Emission Tomography (PET) Scanners Market: Opportunities 

Increasing adoption of dual modality imaging technique or hybrid imaging is expected to offer lucrative growth opportunities for players operating in the market. The adoption of hybrid imaging consisting of PET and X-ray transmission CT scan is increasing globally, owing to its ability to shorten acquisition time and provide accurate attenuation correction and fusion imaging leading to increase in diagnostic sensitivity and specificity.

Moreover, formulation of guidelines in production of radiopharmaceuticals is also expected to aid in growth of the market. For instance, in February 2020, the International Atomic Energy Agency approved a project to offer assistance and expertise on production of cyclotron-based gallium-68 radioisotope and related radiopharmaceuticals.

Oncology segment was valued at US$ 906.1 Mn in 2019 and is forecast to reach a value of US$ 1,270.4 Mn by 2027 at a CAGR of 4.2% between 2020 and 2027.

Figure 2: Global Positron Emission Tomography (PET) Scanners Market Value (US$ Mn), By Oncology, 2016 - 2027

Positron Emission Tomography (PET) Scanners  | Coherent Market Insights

Market Trends/Key Takeaways

A contemporary trend witnessed in healthcare industry suggests a shift from detection and treatment of cardiovascular diseases to its prediction and prevention. This has led to increasing adoption of radio nucleotide imaging in non-invasive diagnosis of various cardiovascular diseases. Compared to SPECT (single positron emission computed tomography) technology, the adoption of PET/CT hybrid scanner is high, owing to clinical advantages assessment of myocardial perfusion and coronary anatomy concurrently.

Although PET imagining fails to capture micro and macroscopic structural aberrations in gray and white matter in the brain, it is preferred over fMRI as PET offers relatively long acquisition times and therefore, higher test sensitivity compared to that of fMRI.

Global Positron Emission Tomography (PET) Scanners Market: Competitive Landscape

Major players operating in the global positron emission tomography (PET) scanners market include, GE Healthcare, Toshiba Corporation, Koninklijke Philips N.V., Siemens Healthineers, Hitachi Medical Corporation, Positron Corporation, Mediso Ltd., and Yangzhou Kindsway Biotech Co., Ltd.

Global Positron Emission Tomography (PET) Scanners Market: Key Developments

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in March 2020, Cerveau Technologies Inc., a developer and manufacturer of diagnostic technologies, partnered with Alector, LLC to offer its investigational imaging agent (MK-6240) to Alector, LLC for use in PET scans to assess the status and progression of neurofibrillary tangles in the brain.

Major players in the market are also focused on approval and launch of new products to expand their product portfolio. For instance, in June 2018, Siemens Healthineers received the U.S. FDA approval for Biograph Vision, a new PET /CT system.

Positron emission tomography (PET) is an imaging technique that is used to examine the diseases and metabolic activities of the tissues and organs inside the body with the use of radiotracer that is administered intravenously.. In this technique the scan uses a special dye that has a radioactive tracers, this tracer is administered as an intravenous injection labelled with oxygen15, nitrogen13 and fluorine18 (C-11, Fl-18, O-15 or N-13). These tracers are injected in the peripheral vein and move through the blood circulation that helps to identify the blocked areas of peripheral veins precisely. Generally, the scan takes around 40 minutes to complete without pain and it also measures the rate of glucose in the body. PET procedures provides information about the organs and tissues, shape, size and the position.

Restraints of the Global Positron Emission Tomography (PET) Market

The high cost involved in positron emission tomography (PET) technology-based products and continuous reimbursement cutbacks has posed a great challenge to growth of the global positron emission tomography (PET) market.

Key features of the study:

  • This report provides in-depth analysis of the global positron emission tomography (PET) market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global positron emission tomography (PET) market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include GE Healthcare, Toshiba Corporation, Koninklijke Philips N.V., Siemens Healthineers, Hitachi Medical Corporation, Positron Corporation, Mediso Ltd., and Yangzhou Kindsway Biotech Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global positron emission tomography (PET) market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • Global Positron Emission Tomography (PET) Market, By Product Type:
    • Full Ring PET Scanner 
    • Partial Ring PET Scanner
  • Global Positron Emission Tomography (PET) Market, By Application:
    • Oncology 
    • Cardiology
    • Neurology
    • Others
  • Global Positron Emission Tomography (PET) Market, By Detector Type:
    • Bismuth Germanium Oxide (BGO) 
    • Lutetium Oxyorthosilicate (LSO)
    • Gadolinium Oxyorthosilicate (GSO)
    • Lutetium Fine Silicate (LFS)
    • Lutetium Yttrium Orthosilicate
  • Global Positron Emission Tomography (PET) Market, By End User:
    • Hospitals
    • Diagnostic Centres
    • PET Centres
    • Research Institutes
  • Global Positron Emission Tomography (PET) Market, By Geography:
    • North America
      • By Product Type
        • Full Ring PET Scanner
        • Partial Ring PET Scanner
      • By Application
        • Oncology
        • Cardiology
        • Neurology
        • Others
      • By Detector Type
        • Bismuth Germanium Oxide (BGO)
        • Lutetium Oxyorthosilicate (LSO)
        • Gadolinium Oxyorthosilicate (GSO)
        • Lutetium Fine Silicate (LFS)
        • Lutetium Yttrium Orthosilicate
      • By End User
        • Hospitals
        • Diagnostic Centres
        • PET Centres
        • Research Institutes
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Product Type
        • Full Ring PET Scanner
        • Partial Ring PET Scanner
      • By Application
        • Oncology
        • Cardiology
        • Neurology
        • Others
      • By Detector Type
        • Bismuth Germanium Oxide (BGO)
        • Lutetium Oxyorthosilicate (LSO)
        • Gadolinium Oxyorthosilicate (GSO)
        • Lutetium Fine Silicate (LFS)
        • Lutetium Yttrium Orthosilicate
      • By End User
        • Hospitals
        • Diagnostic Centres
        • PET Centres
        • Research Institutes
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Full Ring PET Scanner
        • Partial Ring PET Scanner
      • By Application
        • Oncology
        • Cardiology
        • Neurology
        • Others
      • By Detector Type
        • Bismuth Germanium Oxide (BGO)
        • Lutetium Oxyorthosilicate (LSO)
        • Gadolinium Oxyorthosilicate (GSO)
        • Lutetium Fine Silicate (LFS)
        • Lutetium Yttrium Orthosilicate
      • By End User
        • Hospitals
        • Diagnostic Centres
        • PET Centres
        • Research Institutes
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Product Type
        • Full Ring PET Scanner
        • Partial Ring PET Scanner
      • By Application
        • Oncology
        • Cardiology
        • Neurology
        • Others
      • By Detector Type
        • Bismuth Germanium Oxide (BGO)
        • Lutetium Oxyorthosilicate (LSO)
        • Gadolinium Oxyorthosilicate (GSO)
        • Lutetium Fine Silicate (LFS)
        • Lutetium Yttrium Orthosilicate
      • By End User
        • Hospitals
        • Diagnostic Centres
        • PET Centres
        • Research Institutes
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • By Product Type
        • Full Ring PET Scanner
        • Partial Ring PET Scanner
      • By Application
        • Oncology
        • Cardiology
        • Neurology
        • Others
      • By Detector Type
        • Bismuth Germanium Oxide (BGO)
        • Lutetium Oxyorthosilicate (LSO)
        • Gadolinium Oxyorthosilicate (GSO)
        • Lutetium Fine Silicate (LFS)
        • Lutetium Yttrium Orthosilicate
      • By End User
        • Hospitals
        • Diagnostic Centres
        • PET Centres
        • Research Institutes
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type
        • Full Ring PET Scanner
        • Partial Ring PET Scanner
      • By Application
        • Oncology
        • Cardiology
        • Neurology
        • Others
      • By Detector Type
        • Bismuth Germanium Oxide (BGO)
        • Lutetium Oxyorthosilicate (LSO)
        • Gadolinium Oxyorthosilicate (GSO)
        • Lutetium Fine Silicate (LFS)
        • Lutetium Yttrium Orthosilicate
      • By End User
        • Hospitals
        • Diagnostic Centres
        • PET Centres
        • Research Institutes
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • GE Healthcare *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Toshiba Corporation
    • Koninklijke Philips N.V.
    • Siemens Healthineers
    • Hitachi Medical Corporation
    • Positron Corporation
    • Mediso Ltd.
    • Yangzhou Kindsway Biotech Co., Ltd.

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Detector Type
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Regulatory Scenario
    • PEST Analysis
  4. Global Positron Emission Tomography (PET) Market, By Product Type, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Full Ring PET Scanner
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Partial Ring PET Scanner
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
  5. Global Positron Emission Tomography (PET) Market, By Application, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Oncology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cardiology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Neurology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Positron Emission Tomography (PET) Market, By Detector Type, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Bismuth Germanium Oxide (BGO)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Lutetium Oxyorthosilicate (LSO)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Gadolinium Oxyorthosilicate (GSO)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Lutetium Fine Silicate (LFS)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Lutetium Yttrium Orthosilicate
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Global Positron Emission Tomography (PET) Market, By End User, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic Centres
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • PET Centres
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Research Institutes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  8. Global Positron Emission Tomography (PET) Market, By Regions, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  9. Competitive Landscape
    • Company Profiles
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Toshiba Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Koninklijke Philips N.V.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Siemens Healthineers
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Hitachi Medical Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Positron Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Mediso Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Yangzhou Kindsway Biotech Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 35 market data tables and 25 figures on “Positron Emission Tomography (PET) Market – Global forecast to 2027.

Frequently Asked Questions

The global positron emission tomography (PET) scanners market is estimated to account for US$ 1,107.6 Mn in terms of value in 2020 and is expected to reach US$ 1,549.7 Mn by the end of 2027. The market is expected to exhibit a CAGR of 4.7% during the forecast period.
Full Ring PET Scanner segment held the major market share in 2019 owing to advantages offered by the same.
Major factor driving the growth of global Positron Emission Tomography (PET) Scanners market during the forecast period increasing cancer prevalence, research and development, and product launches.
Major factors hampering the growth of the Positron Emission Tomography (PET) Scanners market during the forecast period constitutes of high costs and lack of trained professionals.
North America Positron Emission Tomography (PET) Scanners market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are GE Healthcare, Toshiba Corporation, Koninklijke Philips N.V., Siemens Healthineers, Hitachi Medical Corporation, Positron Corporation, Mediso Ltd., and Yangzhou Kindsway Biotech Co., Ltd.
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