Positron Emission Tomography (PET) Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Dec 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

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. PET is widely used by the oncologist for diagnoses of various types of cancer and cardiologists in order to diagnose cardiovascular diseases as the clinical use of PET is that it can also distinguish between the non-malignant tumors and malignant tumors. PET is also used to map brain function and diagnosis of condition of diseases such as Alzheimer’s disease.

Rise in number of chronic disease cases such as cancer and increase in the prevalence of Alzheimer’s disease (AD) around the globe is expected to boost the growth of positron emission tomography market in the forecast period

North America and Asia Pacific are expected to dominate the positron emission tomography market in the near future, due to the factors such as raised prevalence of cancer and Alzheimer’s disease. The increase in cancer incidence rates around the globe expected to create a high conducive environment for the growth of PET system. According to World Health Organization (WHO), around 8.8 million deaths occurred due to cancer in 2015. Furthermore, WHO had launched the global action plan for the prevention and control for cancer and other diseases in 2013 that aims to reduce around 25% of early stages of mortality from cancer by 2025. Also, according to the National Cancer Institute (NCI) in 2016, it was estimated that around 1,685,210 cases of cancer were diagnosed in the U.S. mainly due to the factors such as excess consumption of alcohol and smoking, which accounts for high proportion of cancer patients in the U.S., this will led to the demand for the growth for positron emission tomography market in the near future.

As PET techniques are performed in order to assess the progress of the treatment of diseases such as chronic diseases hence the rise in prevalence of diseases will increase the demand for PET market. As per the estimation by WHO, in 2017, the number of people living with dementia worldwide is around 47 million and is projected to increase to around 75 million by the year 2030, and the number of cases will rise almost triple by 2050. The risk factors for this disease can increase a person’s chance to lead one or more kinds of dementia, also the risk goes up with advanced age, excess alcohol consumption. According to Alzheimer's Australia, in 2017, more than 413,106 Australians are living with dementia. Furthermore, among these, the number of female contributed more, around 228,238 (55%) are female and 184,868 (45%) are male and the total number is expected to reach around 536,164 by 2025, moreover dementia is the second leading cause of death in Australians, contributing to 5.4% of deaths in males and 10.6% in females every  year. Thus the increase in number of diseases will favor the demand for the positron emission tomography market in the near future.

Positron Emission Tomography Market Key Players Include:

Toshiba Corporation, Koninklijke Philips N.V., Siemens AG, Hitachi, Ltd., Positron Corporation, Mediso Ltd., Radiology Oncology Systems, Inc., Yangzhou Kindsway Biotech Co. Ltd., Positron Corporation, Segami Corporation, Spectrum Dynamics Ltd., Naviscan, Inc. and MedX Holdings Inc., IBA- Ion Beam Applicattions,  and  Modus Medical Devices Inc.

Key Developments –

  1. In February 2019, Koninklijke Philips N.V., launched Incisive CT at 2019 European Congress of Radiology for offering advanced solutions to the researchers in order to meet their clinical and operational goals
  2. In November 2018, Koninklijke Philips N.V., announced to open new center of excellence and headquarters for research and development of its Computed Tomography and Advanced Molecular Imaging (CT/AMI) business in Cleveland, U.S. in the first quarter of 2019
  3. In 2019, the Government of British Columbia (B.C.) launched new Gordon Heys Family PET/CT (positron emission tomography/computed tomography) scanner suite in the B.C. Cancer Centre in Victoria

Positron emission tomography market taxonomy

Positron Emission Tomography Market by Product Type:

  • Full ring PET scanners
  • Partial ring PET scanners

Positron Emission Tomography Market by Application:

  • Oncology
  • Cardiology
  • Neurology
  • Orthopedics
  • Urology
  • Gastroenterology
  • Others

Positron Emission Tomography Market by End User:

  • Hospitals
  • Clinics
  • Others (Imaging Centers and Academic and Research Centers)

Positron Emission Tomography Market by Geography:

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

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