Positron Emission Tomography (PET) Scanners Market is projected to grow at a steady 5.1% CAGR from 2021 to 2031 – Market Research Blog

Future Market Insights delivers key insights on the global Positron Emission Tomography scanners market in a new report titled, “Positron Emission Tomography (PET) Scanners Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”. In terms of revenue, the global Positron Emission Tomography (PET) scanners market is projected to register a healthy CAGR of 4.7% over the forecast period.

According to Future Market Insights, growing occurrences of chronic disorders and increasing penetration of PET machines is expected to drive overall growth of the global Positron Emission Tomography (PET) scanners market during the forecast period. Rising demand for effective diagnostic techniques across the globe and expanded applications for PET in the field of oncology are further expected to boost the growth of the global Positron Emission Tomography (PET) scanners market between 2016 and 2026. However, a short half-life and low supply of radiopharmaceuticals is likely to restrict market growth over the forecast period.

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“A key trend in the global Positron Emission Tomography (PET) scanners market is the development of dual modality PET/CT and PET/MRI machines leading to better diagnostic sensitivity and specificity at each stage of disease prognosis. The entry of new radiopharmaceuticals has enhanced the diagnostic value of diseases treatment resulting in greater dependency on PET scanning procedures. These trends are likely to govern the global Positron Emission Tomography (PET) scanners market in the coming years.” – Analyst – Healthcare, Pharmaceuticals & Medical Devices, Future Market Insights

Positron Emission Tomography Scanners Market

Segmentation highlights

The global Positron Emission Tomography (PET) scanners market has been segmented by Product Type (Full Ring PET Scanners, Partial Ring PET Scanners); by Application (Oncology, Cardiology, Neurology, Others); by Detector Type (Bismuth Germanium Oxide (BGO), Lutetium Oxyorthosilicate (LSO), Gadolinium Oxyorthosilicate (GSO), Lutetium Fine Silicate (LFS), Lutetium Yttrium Orthosilicate); and by End User (Hospitals, Diagnostic Centres, PET Centres, Research Institutes);

  • The Full Ring PET Scanners product type segment was valued at US$ 759.3 Mn in 2015 and is expected to register 4.8% CAGR over the forecast period. The Partial Ring PET Scanners product type segment was valued at US$ 143.8 Mn in 2015 and is expected to increase to US$ 212.2 Mn by the end of 2026
  • The Oncology application segment is estimated to account for 86.6% market share by 2016 while the Cardiology application segment is estimated to account for 5.0% market share by 2016 end. Both these segments are expected to be the most lucrative segments in the global Positron Emission Tomography (PET) scanners market during the forecast period
  • The Lutetium Oxyorthosilicate (LSO) detector type segment was valued at US$ 322.7 Mn in 2015 and is expected to witness a CAGR of 4.3% over the forecast period to reach US$ 596.5 Mn by 2026 end. The Bismuth Germanium Oxide (BGO) detector type segment was valued at US$ 266.7 Mn in 2015 and is expected to increase to US$ 400.5 Mn by the end of 2026
  • The Hospitals end user segment is estimated to hold 35.7% market share by 2016 end while the Diagnostic Centres end user segment is estimated to account for 33.0% market share by 2016 end

Regional market projections

The global Positron Emission Tomography (PET) scanners market has been segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, MEA, and Japan. North America dominated the global Positron Emission Tomography (PET) scanners market in 2015 and is likely to continue its dominance throughout the forecast period. North America is expected to reach a market valuation of US$ 631.9 Mn by 2026 end, witnessing a CAGR of 4.8% over the forecast period. The APEJ Positron Emission Tomography (PET) scanners market is estimated to be valued at US$ 132.9 Mn by 2016 end and is expected to register a CAGR of 5.1% over the forecast period.

Vendor insights

General Electric Co., Toshiba Corporation, Koninklijke Philips N.V., Siemens AG, Hitachi, Ltd., Positron Corporation, Mediso Ltd., and Yangzhou Kindsway Biotech Co. Ltd. are some of the leading players operating in the global Positron Emission Tomography (PET) scanners market. Major players in the global Positron Emission Tomography (PET) scanners market are focussing on enhancing their global and regional presence through introduction of novel products and strategic operational expansion. The report discusses individual strategies followed by these companies in terms of enhancing product designing, creating new manufacturing facilities, market consolidation, and advanced R&D initiatives.

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