PET-CT Scanning Market - Forecast(2024 - 2030)

PET-CT Scanning Market Overview

PET-CT Scanning Market size is estimated at $1.7 billion in 2020, anticipated to grow at a CAGR of 5.4% during the forecast period 2021-2026. PET-CT is a medical diagnostic technique that examines the metabolic function of tissues within the body using a PET scanner and an x-ray CT scanner. PET scanners assess the functioning of organs and tissues by measuring body functions such as oxygen consumption, oncology, blood flow, and glucose metabolism. The advancements in imaging offer physicians new methods in which to improve treatment in novel ways is a major factor driving the PET-CT Scanning industry. 

Computed Tomography imaging produces images of internal organs using x-ray equipment and contrast content, which aids in the interpretation of organ function. When comparing PET and Computed Tomography scans separately, the combined PET-CT scans provide photographs of the precise location of irregular metabolic activity within the body, which can be used to provide more reliable diagnoses. The factors driving the growth of the PET-CT Scanning market globally are technological developments in PET imaging, such as the advent of integrated imaging systems, radiation therapy leading to medical revolution. Amyloid PET imaging is a screening tool used to see whether people with memory problems have amyloid plaques in the brains, which are symptom of Alzheimer's disease, thereby, driving the PET-CT Scanning Industry.

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Key Takeaways

PET-CT Scanning Market Segment Analysis - By Type:

Based on Type, PET-CT Scanning Market is segmented into Full Ring PET Scanners and Partial Ring PET Scanners accounted for the largest revenue market share in 2020, as a full ring PET scanner has no gaps and is impractical for use while the patient is scanned while lying on the proton therapy bed compared to a partial PET scanner and the enhanced timing resolution (such as 300ps) contributes to reduced error in a full ring scanner. It provides the distribution of radio-isotopes in the brain using a ring of radiation therapy detectors, which can measure cerebral blood flow (CBF), oncology, oxygen extraction fraction (OEF), blood volume (CBV), and glucose metabolic rate (CMRgluc) driving the segment growth. 

Partial Ring PET Scanners segment is anticipated to grow with the fastest CAGR of 5.9% in the forecast period 2021-2026 as it is most widely used owing to cost effective imaging. Partial-ring PET images are generated from full-ring PET by removing coincidence events that hit detector blocks which drives the PET- Computed Tomography Scanning Industry.

PET-CT Scanning Market Segment Analysis – Application:

Based on Application, PET-CT Scanning Market is segmented into Oncology, Neurology, Cardiology and Others. Oncology accounted for the largest revenue market share in 2020. Positron Emission Tomography (PET CT) is an important nuclear imaging method used to confirm the existence of different cancers. PET (positron emission tomography) in oncology uses FDG (18Fluorine-2-fluoro-2-Deoxy-d-glucose) as the radiopharmaceutical since it shows malignant cells increased metabolism when compared to normal cells. As the global incidence of cancer rises, so does the demand for advanced imaging techniques, resulting in market development. 

PET/ Computed Tomography systems are used in about 84 percent of the slightly more than 1,600 PET facilities in the United States, according to the National Oncology PET Registry. The growing number of cancer cases presents enormous opportunities for nuclear imaging industry players. According to the American Cancer Society (2019), the total number of new oncology cases diagnosed in 2019 is around 1,762,450, compared to 1,735,350 new cancer cases diagnosed in 2018. As a result, the need for early cancer detection and care has increased the use of PET scanners, resulting in PET-CT Scanning Industry growth. 

Neurology segment is anticipated to grow with the fastest CAGR of 5.1% during the forecast period 2021-2026. This is to an increase in the incidence of surgery combined with a growing neurological disorder population and increased public awareness, thereby, expanding the PET-CT Scanning Market.

PET-CT Scanning Market Segment Analysis - By Geography:

Based on Geography, North America PET-CT Scanning Market accounted for the 44% revenue share in 2020 owing towards the rising road accidents, sports injuries, and the presence of several key players in the region. The high prevalence of cardiovascular diseases, especially in the United States will provide numerous opportunities for companies operating in this region to expand. The major players are working on modern PET-CT scanning systems that are technologically advanced. 

For instance, United Imaging, a global leader in advanced medical imaging and radiotherapy equipment, oncology announced in June 2019 that the uMI 550 DIGITAL PET/ Computed Tomography system had been installed for the first time in the United States. The uMI 550, United Imaging's second PET/CT device in the United States, is now in operation at Southwest X-Ray, LP in El Paso, Texas is accelerating its growth in the United States by sharing its PET/CT technical advances with leading experts in molecular imaging and nuclear medicine, Blood flow, enhancing the market's growth There are approximately 2,670 PET scanners in hospitals throughout the United States, which conduct approximately 2 million scans per year. 

The FDA and the US Nuclear Regulatory Commission (NRC) approved the compact RadioGenix System from NorthStar, a Beloit, Wisconsin-based company, in February 2018 to manufacture technetium-99m from non-uranium sourced molybdenum-99 (Mo-99) is accelerating PET-CT Scanning Industry expansion across the region. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing towards region's burgeoning medical tourism industry, rising chronic disease prevalence, and favourable reimbursement situation which is assisting the region's growth.

PET-CT Scanning Market - Drivers

The Increasing Prevalence Of Chronic Diseases & Growing Geriatric Population:

PET-CT Scanning Market - Challenges

Harmful Side Effects:

PET-CT Scanning Market - Landscape:

Acquisitions/Product Launches:

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