Global PET-CT Scanner Device Market Size, Share & Industry Trends Analysis Report By Slice Count, By Isotope/Detector Type, By Service Provider, By Type, By Application, By Regional Outlook and Forecast, 2021 - 2027

Global PET-CT Scanner Device Market Size, Share & Industry Trends Analysis Report By Slice Count, By Isotope/Detector Type, By Service Provider, By Type, By Application, By Regional Outlook and Forecast, 2021 - 2027

The Global PET-CT Scanner Device Market size is expected to reach $2.6 billion by 2027, rising at a market growth of 5.5% CAGR during the forecast period.

PET imaging or a PET scan is another name for positron emission tomography, which is a sort of nuclear medicine imaging. It evaluates organ and tissue functions using small amounts of radioactive materials called radiotracers or radiopharmaceuticals, a special camera, and a computer. In addition, by detecting changes at the cellular level, it can detect the early onset of disease before other imaging tests. Moreover, it can detect heart illness, cancer, gastrointestinal, endocrine, and neurological issues, among other conditions. The radiotracers utilized in it tend to accumulate in tumors or inflammatory areas and bind to certain proteins in the body.

PET-CT, which is regarded as a high-end technique, has gained widespread adoption because of its excellent quality, accuracy, precision, and versatility in diagnosis. Additionally, the integration of PET and CT in a single system is seen as advancement in imaging technology, as the combination of two well-established modalities provides greater benefits than the sum of their parts. Moreover, CT scanners provide high-resolution images of the anatomy.

Also, malignant disorders can only be detected with this technique, starting with observing changes in lymph node size or the existence of aberrant masses. On the other hand, for a lymph node that is normal in size, PET can completely identify a functional anomaly. As a result, combining PET/CT systems allows for a better functional assessment of anatomical scan abnormalities as well as improved spatial localization of functional abnormalities.

COVID-19 Impact

PET imaging allows researchers to track COVID-19's key pathophysiological changes at the molecular level, providing crucial information for the disease's subsequent diagnosis, evaluation, and treatment. The most widely employed PET imaging agent in COVID-19 patients is F-labeled fluorodeoxyglucose (18F-FDG), a radiolabeled glucose analog, and the integrated PET/CT system can be used to evaluate the functional and structural alterations of COVID-19 at the same time. In addition, the adoption of devices in the diagnosis and evaluation of the COVID-19 fueled the demand for these devices during the pandemic period. Moreover, cancer patients who receive radiation therapy have a higher risk of developing a more serious condition.

Market Growth Factors

Growing occurrence of chronic diseases and the growing elderly population.

In the last couple of years, there has been a rising prevalence of infectious and chronic diseases such as cancer and heart disease around the world, as well as increased demand for better diagnostic technologies. Globally, an estimated 14.1 million new cancer cases were recorded in 2012, according to the International Agency for Research on Cancer (IARC). Among these, Lung cancer (13%) was the most prevalent type, followed by breast cancer (11.9%) and colorectal cancer (11.9%). (9.7 percent). In addition, increased cases of brain diseases including Alzheimer's and traumatic brain injury are fueling market expansion. Moreover, the number of newly diagnosed cancer cases and cancer fatalities across the world would increase significantly. Furthermore, Scanner advancements now allow for better localization of activity to normal vs. aberrant structures, as well as faster scan times than earlier versions.

The rise in deployment of PET/CT systems in clinical applications

PET-only scanners had an equivalent of extremely crude built-in CT scanners that used PET detectors such as crude CT detectors prior to the advent of PET/CT systems. The pictures produced by these CT-equivalent systems were non-diagnostic and highly sluggish. Furthermore, they exposed patients to more radiation. Hence, Correction images exposure was introduced into PET/CT systems. Moreover, PET/CT scanners are also quicker, which helps to eliminate motion artifacts. Because of the unique combination of functional information received with PET and anatomic information gathered with CT, PET/CT systems have seen an increase in usage since their introduction into clinical practice.

Market Restraining Factors

High Installation & Maintenance Costs

ne of the biggest challenges faced by the industry players is high maintenance and installation costs of these systems. Due to the considerable capital necessary for the latest technology, and with a huge and controlled refurbished systems business, especially in developing nations has hampered the adoption of new and innovative systems. In addition, major global and domestic players have entered this profitable industry, offering refurbished equipment to healthcare facilities around the world at inexpensive pricing. Moreover, Healthcare institutions prefer low-cost reconditioned equipment over new products. Further, there are unsupportive healthcare reimbursement scenarios in many countries. Globally, decreased payer reimbursement for PET and SPECT procedures has resulted in a drop in outpatient volumes, limiting patient access to high-quality, low-cost imaging and diagnostic services.

Slice Count Outlook

Based on Slice Count, the market is segmented into Medium Slice Cardiology (64 Slices), Low Slice Cardiology (<64 Slices), and High Slice Cardiology (>64 Slices). The Low Slice Cardiology (<64 Slices) segment obtained a significant revenue share of the PET-CT Scanner Device Market. This is due to the high occurrence of medical implants, shifting food habits, and acceptance of sedentary lifestyles. Moreover, constant developments in imaging devices with the help of R&D efforts would drive the growth of the segment during the forecasting period.

Isotope/Detector Type Outlook

Based on Isotope/Detector Type, the market is segmented into Flurodeoxyglucose (FDG), 62Cu ATSM, 18 F Sodium Fluoride, FMISO, Gallium, Thallium, and Others. In 2020, the Flurodeoxyglucose (FDG) segment obtained the highest revenue share of the PET-CT Scanner Devices Market. F-18 fluorodeoxyglucose (FDG), for example, is a common radiotracer that is absorbed by cancer cells. This is because of the increasing number of FDG applications, a decrease in the number of FDG adverse effects, and an increase in the incidence of chronic diseases. Moreover, it provides a number of advantages, including the ability to provide more detail with a higher level of accuracy.

Service Provider Outlook

Based on Service Provider, the market is segmented into Hospitals, Diagnostic Centers, and Research Institutes. In 2020, the Hospitals segment collected the maximum revenue share of the PET-CT Scanner Device Market. This is due to an increase in the number of hospitals, a surge in patient awareness toward treatment in hospitals, increased healthcare infrastructure, and increased adoption of PET-CT scanner devices.

Type Outlook

Based on Type, the market is segmented into Stationary Scanners and Portable Scanners/Mobile Scanners. The Portable Scanners/Mobile Scanners segment held a significant revenue share of the PET-CT Scanner Device Market. This is because small and medium-sized healthcare organizations are increasingly turning to mobile devices. Moreover, lower expenses, faster installation time, cheap initial investment, and reduced patient travel are some of the advantages of the mobile device category. Leading manufacturers such as GE, Philips, and Siemens provide a variety of portable PET-CT scanners.

Application Outlook

Based on Application, the market is segmented into Oncology, Cardiology, Neurology, and Others. In 2020, the Cardiology segment obtained a significant revenue share of the PET-CT Scanner Device Market. A cardiac positron emission tomography (PET) scan uses a small quantity of radioactivity to examine the heart muscle. When compared to conventional nuclear stress testing methods, cardiac PET/CT provides higher accuracy, reduced radiation, and increased efficiency in the diagnosis of coronary artery disease (SPECT). Patients with a high body mass index, or BMI, or a considerable amount of breast/chest wall tissue, breast implants, or pleural or pericardial effusions may benefit from cardiac PET/CT.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the North America emerged as the leading region in the overall PET-CT Scanner Device Market. This is due to an increase in the number of chronic disease patients, an increase in the demand for PET-CT scan devices, the availability of advanced healthcare facilities with trained medical professionals, an increase in the number of R&D activities with a large presence of key players, and an increase in government investment in the healthcare system.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; General Electric (GE) Co. and Hitachi, Ltd. are the forerunners in the PET-CT Scanner Device Market. Companies such as Bruker Corporation, Toshiba Corporation, and Siemens Healthineers AG are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bruker Corporation, Toshiba Corporation, Siemens Healthineers AG (Siemens AG), General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Shimadzu Corporation, Positron Corporation, PerkinElmer, Inc., Mediso Ltd., and Hitachi, Ltd. (Hitachi Healthcare).

Recent Strategies Deployed in PET-CT Scanner Device Market

Partnerships, Collaborations, and Agreements:

Jan-2022: Positron Corporation partnered with Neusoft Medical Systems, a leading global clinical diagnosis, and treatment solution provider, for manufacturing, distribution, and continued R&D advancements of Positron’s new PET/CT nuclear imaging device. Following the partnership, the two companies would together integrate their PET/CT technology and services for nuclear cardiology while expanding the capabilities in the domain of oncology imaging diagnostics and clinical services.

Jul-2021: GE Healthcare joined hands with Quibim, a global leader in artificial intelligence (AI) and medical image processing. Under this collaboration, the two companies would together take part in a High Sensitivity Molecular Imaging project IMAS (Imagen Molecular de Alta Sensibilidad) to develop an advanced total-body PET/CT scanner for simultaneous whole-body imaging in a Temporary Business Association (TBA).

Jul-2021: GE Healthcare collaborated with SOPHiA GENETICS, an American Swiss biotechnology company. Following the collaboration, the two companies would work on advancing cancer care in order to provide effective targeting and matching treatments to every patient's genomic profile and cancer type, assisting to enable the most efficient and tailored treatment.

Acquisitions and Mergers:

Nov-2021: Bruker Corporation today announced the acquisition of MOLECUBES NV, a dynamic innovator in benchtop preclinical nuclear molecular imaging (NMI) systems. The acquisition of MOLECUBES adds scalable benchtop instruments to our portfolio for serving the NMI preclinical research community. The synergies between our and MOLECUBES’ research and development, applications and service teams is expected to benefit our combined NMI customers worldwide.

May-2021: GE Healthcare took over Zionexa, a leading innovator of in-vivo oncology and neurology biomarkers that assist to allow more personalized healthcare. In addition, the company would develop and commercialize pipeline biomarkers of Zionexa and newly FDA-approved imaging agent, Cerianna (fluoroestradiol F-18), which is utilized as an adjunct to biopsy for detecting oestrogen receptor (ER) positive lesions in patients with recurrent or metastatic breast cancer to help advise treatment choices.

Product launches and Product Expansions:

May-2021: GE Healthcare introduced Xeleris V, a new virtual processing and review solution. Moreover, Xeleris V helps to get rid of the requirement for a standalone nuclear medicine workstation so that clinicians can safely access data from several locations. In addition, Xeleris V and its sophisticated AI capabilities, paired with GE Healthcare's 800 and 600 Series nuclear medicine scanners, give doctors quick and easy access to the information they need to make tailored treatment decisions.

Mar-2021: Shimadzu Corporation unveiled a new BresTome TOF-PET functional imaging system dedicated for head and breast within the Japanese domestic market. The new system provides double resolution of common whole-body PET systems. It can be utilized to support the clinical treatment of Alzheimer's disease and other degenerative neurological diseases along with therapeutic applications for brain tumors and epilepsy covered by Japanese public health insurance.

ct-2020: Siemens Healthineers rolled out Biograph Vision Quadra, a CE-Marked positron emission tomography/computed tomography (PET/CT) scanner. The new solution is developed for clinical use as well as translational research or the application of scientific research to develop therapies and procedures that enhance health outcomes.

Approvals and Trials:

Mar-2021: Siemens Healthineers received the approval of the Food and Drug Administration (FDA) for Biograph Vision Quadra, a positron emission tomography/computed tomography (PET/CT) scanner developed for clinical usage and translational research or the application of scientific research to develop effective therapies and procedures that can enhance health outcomes. Through this approval, the company aimed to expand its portfolio of precision medicine.

Apr-2020: Siemens Healthineers got Food and Drug Administration (FDA) approval for its AIDAN artificial intelligence technologies on the Biograph family of positron emission tomography/computed tomography (PET/CT) systems, which includes the Biograph Horizon, Biograph mCT, and Biograph Vision. These systems provide improved protection against cyber threats through syngo Security, a security package for general regulatory security rules that allows compliance with the Health Insurance and Accountability Act (HIPAA).

Scope of the Study

Market Segments covered in the Report:

By Slice Count

• Medium Slice Cardiology (64 Slices)
• Low Slice Cardiology (<64 Slices)
• High Slice Cardiology (>64 Slices)

By Isotope/Detector Type

• Flurodeoxyglucose (FDG)
• 62Cu ATSM
• 18 F Sodium Fluoride
• FMISO
• Gallium
• Thallium
• Others

By Service Provider

• Hospitals
• Diagnostic Centers
• Research Institutes

By Type

• Stationary Scanners
• Portable Scanners/Mobile Scanners

By Application

• Oncology
• Cardiology
• Neurology
• Others

By Geography

• North America

US

Canada

Mexico

Rest of North America

• Europe

Germany

UK

France

Russia

Spain

Italy

Rest of Europe

• Asia Pacific

China

Japan

India

South Korea

Singapore

Malaysia

Rest of Asia Pacific

• LAMEA

Brazil

Argentina

UAE

Saudi Arabia

South Africa

Nigeria

Rest of LAMEA

Companies Profiled

• Bruker Corporation
• Toshiba Corporation
• Siemens Healthineers AG (Siemens AG)
• General Electric (GE) Co. (GE Healthcare)
• Koninklijke Philips N.V.
• Shimadzu Corporation
• Positron Corporation
• PerkinElmer, Inc.
• Mediso Ltd.
• Hitachi, Ltd. (Hitachi Healthcare)

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