ID: MRFR/HC/5787-HCR | February 2021 | Region: Global | 90 pages
Positron emission tomography devices (PET) market is expected to grow significantly over the forecast period. It is projected to grow at a CAGR of 5.6% over the forecast period.
Positron emission tomography is an imaging test that examines the chemical activity in parts of the body. In this test, tracer is injected, swallowed or inhaled, depending on which organ or tissue is being studied. The tracer accumulates in diseased areas of the body that have higher levels of chemical activity. On a PET scan, these areas show up as bright spots.
Rising adoption of PET scanning is one of the key factors driving the positron emission tomography devices (PET) market. On November, 2018, Bioasis Technologies announced positive results from peripheral whole-body PET/CT scan study in non-human primates with lead investigational candidate xB3-001.
Various other factors such as increasing cases of cancer, technological advancements, favourable reimbursement, presence of a large target patient population and rising patient awareness regarding the benefits of positron emission tomography scanning are also expected to propel the growth of the market.
However, stringent regulatory guidelines, cost associated with PET scan, and shorter half-life of radioisotopes can hamper the market growth over the forecast period.
The positron emission tomography devices (PET) market is segmented based on product type, applications, end user and region.
The global market for positron emission tomography devices (PET), by product type is segmented into full ring PET scanners and partial ring PET scanners.
The market, by applications, is segmented into cardiology, neurology, oncology, orthopaedics, urology, gastroenterology, and others
Based on end user, positron emission tomography devices (PET) market is segmented into hospitals, clinics, diagnostic centres, and others. The hospitals segment is anticipated to hold the largest market share owing to the increasing cases of cancer. The diagnostic centres are expected to grow at the highest CAGR owing to the rising demand for early diagnosis.
In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely the Americas, Europe, Asia-Pacific and the Middle East & African region.
The positron emission tomography devices (PET) market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European positron emission tomography devices (PET) market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The positron emission tomography devices (PET) market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The positron emission tomography devices (PET) market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Global Positron Emission Tomography Devices (PET) market Share (%), by Region, 2017
Sources: MRFR Analysis
The Americas dominated the global market for positron emission tomography devices (PET) owing to presence of major market players and increased prevalence of Alzheimer's dementia within the region. As per the data suggested by the Alzheimer's Association, an estimated 5.7 million Americans of all ages are living with Alzheimer's dementia in 2018.
Europe is expected to hold the second largest position in the global positron emission tomography devices (PET) market. The market growth in this region is attributed to the government support and improving healthcare related research & development activities.
Asia Pacific was projected to be the fastest growing region in 2017. Factors such as, growing cases of head and neck cancer, and increasing healthcare expenditure drives the regional markets of the Asia Pacific region. According to the 2018 data suggested by the Australian Institute of Health and Welfare, around 5,091 new cases of head and neck cancer were diagnosed and around 1,034 number of deaths occurred from head and neck cancer in Australia.
On the other hand, the Middle East and Africa held least share in the global positron emission tomography devices (PET) market due to the low per capita income, especially within the African region.
Some of the key players in the global positron emission tomography devices (PET) market are Agfa Healthcare, Gamma Medica Inc., GE Healthcare, Neusoft Medical Systems, Oncovision, Koninklijke Philips N.V., Positron Corporation, Siemens AG, Segami Corporation, Spectrum Dynamics Ltd., Naviscan, Inc. MedX Holdings Inc., Modus Medical Devices Inc., Radiology Oncology Systems, Inc., Yangzhou Kindsway Biotech Co. Ltd., Toshiba Corporation, Hitachi, Ltd., and others.
Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analysing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.
Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this particular report we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the Positron Emission Tomography Devices (PET). It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.
This table of content is tentative and subject to change as the research progresses.
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