Positron Emission Tomography Market
Positron Emission Tomography Market Forecasts to 2030 - Global Analysis By Product (PET/CT Systems, Partial Ring PET Scanner, Full Ring PET Scanner and Other Products), Detector Type (Bismuth Germanium Oxide (BGO), Lutetium Oxyorthosilicate (LSO), Gadolinium Oxyorthosilicate (GSO), Lutetium Fine Silicate (LFS) and Other Detector Types), Application, End User and By Geography
According to Stratistics MRC, the Global Positron Emission Tomography Market is accounted for $2.5 billion in 2023 and is expected to reach $4.45 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Positron Release Tomography, also known as PET, is a potent medical imaging method that offers important information about the metabolic and functional processes of the body. PET enables medical professionals to see cellular activity and identify abnormalities early on by identifying and mapping the distribution of radioactive tracers, also known as radiopharmaceuticals. In the field of oncology, it is especially crucial for detecting cancer, staging it, and evaluating the efficacy of treatment.
According to the World Nuclear Association April 2022 update, around 40 million nuclear medicine procedures are performed each year, and demand for radioisotopes is increasing by up to 5% annually.
Market Dynamics:
Driver:
Rising cancer incidence
PET plays a critical role in modern medicine, as evidenced by the steady rise in cancer incidence caused by a number of factors such as aging, lifestyle choices, and environmental exposures. Given that cancer is one of the primary causes of death globally, PET is a vital tool in oncology due to its capacity to identify tumors, assess their metabolic activity, and monitor treatment outcomes. Moreover, the need for PET scans as a non-invasive, accurate diagnostic and monitoring technique is growing as the world's medical community steps up its fight against cancer.
Restraint:
Excessive costs of operations and equipment
PET imaging equipment requires a sizable initial capital investment as well as recurring operating costs that can add up, such as maintenance and the purchase of radiopharmaceuticals. Additionally, the extensive use of PET technology is restricted by this financial burden, particularly in healthcare settings with limited resources. As a result, funding and maintaining PET services may present difficulties for numerous hospitals and healthcare facilities.
Opportunity:
Advancement in radiopharmaceuticals
The PET market has a lot of opportunities due to ongoing research in radiopharmaceuticals, and as the range of clinical applications and patient safety can be increased through the development of new radiopharmaceuticals with longer half-lives, better target specificity, and lower radiation exposure. This encourages more study and advancement in this area while also extending the application of PET diagnostics.
Threat:
Cost restraints and economic factors
Healthcare facilities may face severe financial hardships as a result of the high initial costs of purchasing and installing PET equipment, as well as continuing expenditures for specialized staff, maintenance, and radiopharmaceuticals. The use of PET technology may be restricted by changes in the economy, financial limitations in healthcare systems, and declines in reimbursement rates, especially in environments with limited resources. Moreover, healthcare providers' decision-making regarding investments in PET services and equipment can also be influenced by economic factors.
Covid-19 Impact:
Positron Emission Tomography (PET) market impact from the COVID-19 pandemic was substantial. In an effort to save money and limit patient exposure to hospital environments, a number of healthcare facilities temporarily halted non-essential medical procedures, such as PET scans, during the pandemic. Additionally, PET services were also hindered by the medical staff's distraction from COVID-19-related tasks and the interruption in the radiopharmaceutical supply chain. Despite the short-term difficulties brought about by the pandemic, the PET market is anticipated to rebound as healthcare services are resumed.
The Lutetium Oxyorthosilicate (LSO) segment is expected to be the largest during the forecast period
In the market for positron emission tomography, the lutetium oxyorthosilicate (LSO) segment has the largest share. Excellent scintillation properties of LSO, such as high light yield, fast decay time, and excellent energy resolution, make it highly valued. Because of these characteristics, LSO crystals are perfect for use in single-photon emission computed tomography and positron emission tomography (PET) detectors. Moreover, the increasing need for LSO crystals stems from the fact that new developments in medical imaging technologies like hybrid PET-CT and PET-MRI systems rely on LSO's unique qualities to provide precise and comprehensive diagnostic imaging.
The Ambulatory Care Centers segment is expected to have the highest CAGR during the forecast period
The Ambulatory Care Centers segment is anticipated to grow at the highest CAGR, due to their affordability, ease of use, and lower hospitalization rates, ambulatory care centers which offer outpatient services such as diagnostics, minor surgeries, and preventive care are growing in popularity. They relieve the strain on traditional hospitals by providing a wide range of services, such as same-day surgeries, imaging, and specialized clinics. Furthermore, they play a critical role in the healthcare industry, which are rapidly expanding due to the rising demand for easily accessible and reasonably priced healthcare as well as technological advancements in the field.
Region with largest share:
North America, led by the United States, is expected to hold the largest share. The area's advanced medical technologies, high healthcare spending, large patient population, and well-established infrastructure all contribute to the health sector's success. Manufacturers of medical devices, biotechnology and pharmaceutical companies, and top healthcare providers make up the diverse healthcare ecosystem in the United States in particular. Moreover, innovative practices, state-of-the-art research, and a commitment to patient outcomes and care have made this region's healthcare market a major force in the global healthcare arena.
Region with highest CAGR:
With the highest CAGR, the Middle East and Africa (MEA) region has been expanding. The reasons for this growth include rising healthcare awareness, growing infrastructure investments, growing investments in healthcare, and a growing demand for high-quality healthcare services. Additionally, the United Arab Emirates and Saudi Arabia are two of the nations in the region that have made large investments in healthcare, building cutting-edge hospitals, and implementing cutting-edge medical technology. With a growing population and a growing emphasis on healthcare quality and accessibility, the MEA healthcare sector has been changing to meet the demands of the industry.
Key players in the market
Some of the key players in Positron Emission Tomography Market include Siemens Healthineers AG, CMR Naviscan, Positron Corporation, Mediso Ltd, Agfa Healthcare, Shanghai United Imaging Healthcare Co., Ltd, Canon Inc., Koninklijke Philips N.V., Biosensors International, Fujifilm Holdings, Neusoft Corporation, Segami Corporation, GE Healthcare, Yangzhou Kindsway Biotech Co. Ltd and Shimadzu Corporation.
Key Developments:
In May 2023, Siemens Healthineers recently announced an agreement to distribute Scopio Labs' full-field digital cell morphology technology, which will enable clinical laboratorians to examine patient blood cell samples digitally instead of under a microscope.
In March 2023, Positron Corporation, a molecular imaging device company that offers PET imaging systems and clinical services, is pleased to announce that it has executed a Clinical Study/Research Agreement with Ochsner Clinic Foundation and Dr. Robert Bober, Director of Molecular Imaging and Nuclear Cardiology at Ochsner Health, for the clinical study of its new PET-CT imaging device, the Affinity PET-CT 4D.
In January 2023, Fujifilm has completed its asset purchase of Inspirata, Inc.’s digital pathology business effective January 23, 2023. The Dynamyx® digital pathology technology and U.S. employees who supported that business, including all Dynamyx product development, are now part of FUJIFILM Healthcare Americas Corporation.
Products Covered:
• PET/CT Systems
• Partial Ring PET Scanner
• Full Ring PET Scanner
• Other Products
Detector Types Covered:
• Bismuth Germanium Oxide (BGO)
• Lutetium Oxyorthosilicate (LSO)
• Gadolinium Oxyorthosilicate (GSO)
• Lutetium Fine Silicate (LFS)
• Lutetium Yttrium Orthosilicate (LYSO)
• Silicon Photomultiplier (SiPM)
• Digital Photon Counters (DPC)
• Other Detector Types
Applications Covered:
• Oncology
• Neurology
• Cardiology
• Other Applications
End Users Covered:
• Hospital & Surgical Centers
• Diagnostic & Imaging Clinics
• Ambulatory Care Centers
• PET Centres
• Research Institutes
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Positron Emission Tomography Market, By Product
5.1 Introduction
5.2 PET/CT Systems
5.2.1 Low Slice Scanners
5.2.2 Medium Slice Scanners
5.2.3 High Slice Scanners
5.3 Partial Ring PET Scanner
5.4 Full Ring PET Scanner
5.5 Other Products
6 Global Positron Emission Tomography Market, By Detector Type
6.1 Introduction
6.2 Bismuth Germanium Oxide (BGO)
6.3 Lutetium Oxyorthosilicate (LSO)
6.4 Gadolinium Oxyorthosilicate (GSO)
6.5 Lutetium Fine Silicate (LFS)
6.6 Lutetium Yttrium Orthosilicate (LYSO)
6.7 Silicon Photomultiplier (SiPM)
6.8 Digital Photon Counters (DPC)
6.9 Other Detector Types
7 Global Positron Emission Tomography Market, By Application
7.1 Introduction
7.2 Oncology
7.3 Neurology
7.4 Cardiology
7.5 Other Applications
8 Global Positron Emission Tomography Market, By End User
8.1 Introduction
8.2 Hospital & Surgical Centers
8.3 Diagnostic & Imaging Clinics
8.4 Ambulatory Care Centers
8.5 PET Centres
8.6 Research Institutes
8.7 Other End Users
9 Global Positron Emission Tomography Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Siemens Healthineers AG
11.2 CMR Naviscan
11.3 Positron Corporation
11.4 Mediso Ltd
11.5 Agfa Healthcare
11.6 Shanghai United Imaging Healthcare Co., Ltd
11.7 Canon Inc.
11.8 Koninklijke Philips N.V.
11.9 Biosensors International
11.10 Fujifilm Holdings
11.11 Neusoft Corporation
11.12 Segami Corporation
11.13 GE Healthcare
11.14 Yangzhou Kindsway Biotech Co. Ltd
11.15 Shimadzu Corporation
List of Tables
1 Global Positron Emission Tomography Market Outlook, By Region (2021-2030) ($MN)
2 Global Positron Emission Tomography Market Outlook, By Product (2021-2030) ($MN)
3 Global Positron Emission Tomography Market Outlook, By PET/CT Systems (2021-2030) ($MN)
4 Global Positron Emission Tomography Market Outlook, By Low Slice Scanners (2021-2030) ($MN)
5 Global Positron Emission Tomography Market Outlook, By Medium Slice Scanners (2021-2030) ($MN)
6 Global Positron Emission Tomography Market Outlook, By High Slice Scanners (2021-2030) ($MN)
7 Global Positron Emission Tomography Market Outlook, By Partial Ring PET Scanner (2021-2030) ($MN)
8 Global Positron Emission Tomography Market Outlook, By Full Ring PET Scanner (2021-2030) ($MN)
9 Global Positron Emission Tomography Market Outlook, By Other Products (2021-2030) ($MN)
10 Global Positron Emission Tomography Market Outlook, By Detector Type (2021-2030) ($MN)
11 Global Positron Emission Tomography Market Outlook, By Bismuth Germanium Oxide (BGO) (2021-2030) ($MN)
12 Global Positron Emission Tomography Market Outlook, By Lutetium Oxyorthosilicate (LSO) (2021-2030) ($MN)
13 Global Positron Emission Tomography Market Outlook, By Gadolinium Oxyorthosilicate (GSO) (2021-2030) ($MN)
14 Global Positron Emission Tomography Market Outlook, By Lutetium Fine Silicate (LFS) (2021-2030) ($MN)
15 Global Positron Emission Tomography Market Outlook, By Lutetium Yttrium Orthosilicate (LYSO) (2021-2030) ($MN)
16 Global Positron Emission Tomography Market Outlook, By Silicon Photomultiplier (SiPM) (2021-2030) ($MN)
17 Global Positron Emission Tomography Market Outlook, By Digital Photon Counters (DPC) (2021-2030) ($MN)
18 Global Positron Emission Tomography Market Outlook, By Other Detector Types (2021-2030) ($MN)
19 Global Positron Emission Tomography Market Outlook, By Application (2021-2030) ($MN)
20 Global Positron Emission Tomography Market Outlook, By Oncology (2021-2030) ($MN)
21 Global Positron Emission Tomography Market Outlook, By Neurology (2021-2030) ($MN)
22 Global Positron Emission Tomography Market Outlook, By Cardiology (2021-2030) ($MN)
23 Global Positron Emission Tomography Market Outlook, By Other Applications (2021-2030) ($MN)
24 Global Positron Emission Tomography Market Outlook, By End User (2021-2030) ($MN)
25 Global Positron Emission Tomography Market Outlook, By Hospital & Surgical Centers (2021-2030) ($MN)
26 Global Positron Emission Tomography Market Outlook, By Diagnostic & Imaging Clinics (2021-2030) ($MN)
27 Global Positron Emission Tomography Market Outlook, By Ambulatory Care Centers (2021-2030) ($MN)
28 Global Positron Emission Tomography Market Outlook, By PET Centres (2021-2030) ($MN)
29 Global Positron Emission Tomography Market Outlook, By Research Institutes (2021-2030) ($MN)
30 Global Positron Emission Tomography Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
List of Figures
Figure 1 Global Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 2 North America Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 3 US Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 4 Canada Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 6 Europe Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 7 Germany Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 8 UK Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 9 Italy Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 10 France Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 11 Spain Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 14 Japan Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 15 China Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 16 India Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 17 Australia Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 21 South America Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 24 Chile Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 28 UAE Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Positron Emission Tomography Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Positron Emission Tomography Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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