Positron Emission Tomography (PET) scanners are often integrated with computed tomography X-ray for the diagnosis of various diseases. Based on the operational and geometrical capabilities of PET scanner, the PET systems are classified as full ring PET systems and partial ring PET systems. A full ring PET imaging system consist of multiple rings scintillator detectors covering a full 360 degree angular rotation around the volume to be imaged. A partial ring PET imaging system comprises of rotating partial rings detectors.
The global positron emission tomography (PET) scanners market is estimated to account for US$ 1,107.6 Mn 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 adoption of radiopharmaceuticals is expected to boost growth of the global positron emission tomography (PET) scanners market over the forecast period. Radiopharmaceuticals safely carry radioactive isotopes inside targeted human tissues to enhance medical imaging of tumours. Gallium-68 is one such radiopharmaceutical used in cancer diagnostics.
Global Positron Emission Tomography (PET) Scanners Market: Opportunities
R&D of novel radiotracers is expected to offer lucrative growth opportunities for players operating in the market. For instance, in April 2020, researchers from University of Aveiro, Portugal, concluded that pyrazole, an organic compound, is an important scaffolds for the development of 18F-labeled radiotracers for PET imaging.
Global Positron Emission Tomography (PET) Scanners Market: Restraints
High cost of PET scan is expected to hinder growth of the market. For instance, in the U.S., a PET-CT scan can cost US$ 5,000 or more.
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. Technological advancements, and advantages offered by full ring pet scanners is expected to support growth of the segment.
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. Increasing prevalence of cancer is expected to support growth of the segment over the forecast period.
Hospitals segment held dominant position in the global positron emission tomography (PET) scanners market in 2019, accounting for 35.3% share in terms of value, followed by cardiology and neurology, respectively.
Increasing prevalence of neurological disorders is expected to boost growth of the market. For instance, according to Alzheimer’s Association, around 5.8 million people in the U.S. aged 65 and older are living with Alzheimer's dementia in 2020.
Moreover, R&D of PET imaging in diagnosis of Parkinson’s disease is also expected to aid in growth of the market. For instance, in April 2020, researchers from ROTOP Pharmaka Ltd., , Germany, reported investigation of the suitability of a radiotracer [18F]FESCH for in vitro and in vivo imaging of the adenosine A2A receptor in the mouse brain by autoradiography and small animal PET/ magnetic resonance.
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
February 2019: Siemens Healthineers announced installation of Biograph Vision PET/CT at the Hospital of the University of Pennsylvania (HUP) in Philadelphia (U.S.)
September 2018: Positron Corporation announced the sale of its Attrius PET scanner to a prominent cardiology practice in the U.S.
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