Positron Emission Tomography (PET) is a clinical imaging method that is used to diagnose disorders such as Alzheimer’s disease and cancer.
SEATTLE, WASHINGTON, UNITED STATES, December 9, 2021 /EINPresswire.com/ — Positron Emission Tomography (PET) is a clinical imaging method that is used to diagnose disorders such as Alzheimer’s disease and cancer. The basic concept behind PET imaging is to identify a pair of gamma rays released indirectly by a radiotracer. PET can also discriminate between malignant and nonmalignant cancers.
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The global positron emission tomography (PET) scanners market is expected to be worth US$ 1,107.6 million in 2019 and grow to US$ 1,549.7 million by 2027.
Global Positron Emission Tomography (PET) Scanners Market: Drivers
The rising cancer incidence is expected to drive the global positron emission tomography (PET) scanners market during the forecast period. According to the American Cancer Society, around 1,762,450 new cancer cases were reported and 606,880 cancer deaths in the U.S. in 2019.
Furthermore, the provision of Medicare coverage for PET scanning is projected to propel market growth. PET/CT scanners that use the radioisotope 18F-fluorodeoxyglucose (FDG) have a high rate of success in the diagnosis of cancer. Increased coverage for PET imaging in cancers such as melanoma, lung cancer, cervical cancer, esophageal cancer, breast cancer, ovarian cancer, myeloma, lymphoma, thyroid cancer, head and neck cancer, and colorectal cancer supports the use of these scanners.
In 2019, Full Ring PET Scanner accounted for a major share in the global positron emission tomography (PET) scanners market, representing 84.3 % of the market share, trailed by Partial Ring PET Scanner.
Global Positron Emission Tomography (PET) Scanners Market: Restraints
Constant reimbursement cuts are expected to hamper the global positron emission tomography (PET) scanners market during the forecast period. Globally, decreasing payer reimbursement for PET and SPECT operations has resulted in a decrease in outpatient volumes, impacting patient access to cost-effective, high-quality, diagnostic and imaging services.
Furthermore, the short half-life of radiopharmaceuticals is expected to hinder the global positron emission tomography (PET) scanners market during the forecast period. The most often used radiotracer in PET imaging is fluoro-deoxy glucose (FDG), which combines fluorine-18 as the tracer. The radiotracer has a half-life of slightly less than two hours. As a result, its diagnostic imaging utility is reduced.
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Global Positron Emission Tomography (PET) Scanners Market: Opportunities
The increasing usage of dual-modality imaging techniques or hybrid imaging is expected to provide attractive growth prospects for market players. The use of hybrid imaging, which combines PET and X-ray transmission CT scans, is rising globally due to its potential to reduce acquisition time while also providing accurate attenuation correction and fusion imaging, resulting in increased diagnostic specificity and sensitivity.
Furthermore, the development of guidelines for the manufacturing of radiopharmaceuticals is expected to aid in the global positron emission tomography (PET) scanners market during the forecast period. For instance, the International Atomic Energy Agency approved a project in February 2020 and will provide help and expertise in the manufacturing of cyclotron-based gallium-68 radioisotopes and associated radiopharmaceuticals.
The oncology segment was worth US$ 906.1 million in 2019 and is expected to be worth US$ 1,270.4 million by 2027, growing at a CAGR of 4.2 % during the forecast period 2020 and 2027.
Market Trends/Key Takeaways
A recent trend in the healthcare industry indicates a shift away from monitoring and diagnosis of cardiovascular disorders and toward prevention and prediction. As a result, radionucleotide imaging is becoming more widely used in the non-invasive diagnosis of a variety of cardiovascular disorders. In comparison to SPECT (single positron emission computed tomography) technology, the acceptance of PET/CT hybrid scanners is high, due to the clinical advantages of simultaneously assessing myocardial perfusion and coronary anatomy.
Since PET imaging does not detect micro and macroscopic structural abnormalities in white and gray matter in the brain, it is recommended over fMRI because PET has longer acquisition durations and thus higher test sensitivity than fMRI.
Global Positron Emission Tomography (PET) Scanners Market: Competitive Landscape
Some of the key players contributing to the global positron emission tomography (PET) scanners market are Positron Corporation, Siemens Healthineers, Toshiba Corporation, Yangzhou Kindsway Biotech Co., Ltd., Koninklijke Philips N.V., Koninklijke Philips N.V., Mediso Ltd., GE Healthcare, and Hitachi Medical Corporation.
Global Positron Emission Tomography (PET) Scanners Market: Key Developments
Key market players are focusing on collaboration tactics to extend their product offering. For instance, Cerveau Technologies Inc., a diagnostic technology developer, and manufacturer partnered with Alector, LLC in March 2020 to provide its investigational imaging agent (MK-6240) to Alector, LLC to be used in PET scans to evaluate the condition and development of neurofibrillary tangles in the brain.
Key market players are also focusing on the approvals and introduction of new products in order to grow their product offerings. For instance, Siemens Healthineers obtained U.S. Food and Drug Administration approval for Biograph Vision, a novel PET/CT system, in June 2018.
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