Positron Emission Tomography Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3738
Positron Emission Tomography Market size is projected to experience significant growth from 2019 to 2025.
Growing need for accurate and early diagnosis of chronic diseases will augment the positron emission tomography (PET) market growth. Chronic diseases are responsible for significant cost burden across the globe and healthcare providers are trying to cope up with the rising cost burden from past few years. Accurate diagnosis at early stages plays important role in the management of chronic diseases. As PET scanner enables accurate diagnosis of wide range of chronic diseases, its demand will increase with increasing incidences of chronic diseases.
Aging population in developed as well as developing economies will render a significant positive impact on PET scanners market growth. Aging leads to physiological changes that make person prone to chronic diseases such as diabetes, cardiovascular and neurovascular diseases. As per United Nations’ report, number of people aged 60 years or older is expected to double in 2025 to reach 2.1 billion compared to 962 million in 2017. Such stupendous growth in geriatric population will increase the chronic disease prevalence augmenting the demand for positron emission tomography scanners. However, high cost associated with PET scanners will impede the segment growth to some extent.
Full ring positron emission tomography scanner projected to experience lucrative growth over the forecast period. Better rejection of scatter enables these type of devices to provide superior three dimensional imaging compared to partial ring PET scanners that will drive their demand. However, more number of photo multiplier and scintillators makes full ring positron emission tomography costlier than partial ring PET scanner that should impede the segment growth to some extent.
Cardiovascular segment is predicted to witness lucrative growth over the forecast period due tremendous and rising burden of cardiovascular diseases across the globe. With rising disease burden, need of safe and sensitive method for early detection of cardiovascular diseases is still unmet. PET scanner can be of great help in such scenario as they provide changes in organs and tissues with enough spatial and temporal resolution. Aforementioned advantages of PET scanner should increase its demand for cardiovascular disease diagnosis.
Hospital end user segment accounted for significant revenue share in 2018 and forecasted to witness robust growth from 2019 to 2025. Availability of skilled medical professionals and developed infrastructure in hospitals is attributed to high revenue share. Increasing patient inflow coupled with rising government expenditure will further propel the segment growth. However, rapidly growing patient flow towards ambulatory surgical centers will grab some revenue shares from hospital over forecast timeframe.
North America positron emission tomography market is currently dominated by U.S. and scenario is likely to remain so over foreseeable future. High awareness pertaining to the advantages of advanced imaging technology such positron emission tomography and benefits of accurate diagnosis attributed to higher revenue share. Increasing disease burden and favorable demographic trends such as aging population will further propel the regional demand.
Key industry players in positron emission tomography market are CMR Naviscan, Neusoft Corporation, General Electric Company, Siemens Healthcare, ONCOVISION, Positron Corporation and Koninklijke Philips N.V. Key industry players are putting enormous efforts in development and launch of new PET scanners with improved technology to grab higher revenue share. For instance, in 2019 siemens installed Biograph vison PET system in University of Pennsylvania.
Positron Emission Tomography Market, By Product, 2014-2025 (USD Million)
- Partial Ring PET Scanner
- Full Ring PET Scanners
Positron Emission Tomography, by Application, 2014-2025 (USD Million)
Positron Emission Tomography, by End-use, 2014-2025 (USD Million)
- Diagnostic centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- CMR Naviscan
- Neusoft Corporation
- General Electric Company
- Siemens Healthcare
- Positron Corporation
- Koninklijke Philips N.V.
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