PET-CT Scanner Device Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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PET-CT Scanner Device Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : September, 2020 | Medical Devices | PPT format

Report Digest

Global PET-CT Scanner Device Market: Overview

Positron emission tomography - computed tomography (PET/CT) is a notable technological advancement in multimodal imaging by identifying changes in body at cellular level. PET/CT scanner device combines the measurement of metabolic activity and anatomical features. The integrated imaging combines the strengths of PET and CT and hence shows promise in accurately diagnosing, localizing, and monitoring for a range of diseases. PET/CT scanner device holds vast promise in diagnosing cancer, heart disease and certain brain disorders. In particular, the imaging technology holds great potential in clinical oncology, especially for the staging of solid malignancies needed in colon and lung cancer. Having said that, PET/CT scanner device is still a new application in clinical practice. Owing to its excellent standardization and precision, the imaging is being preferred in clinical trials for improving the outcomes.

Global PET-CT Scanner Device Market: Notable Developments

Some of the recent developments that may influence the contours of the PET-CT scanner device market in a big way are:

  • Hospitals in developed nations are displaying marked revenue generating potential by showing propensity for advanced oncology services for their patients. To this end they are entering into collaboration with medical technology companies.
  • Royal Darwin Hospital (RDH), a prominent hospital in Australia, has in March 2019 entered into a partnership with Siemens Healthineers where the former will have deploy advanced PET CT scanner devices. The healthcare institution intends to use the modality for rapid scanning of medical conditions, using only lower doses of radiation and personalized scans. This also eliminates the need for bed-based imaging that were carried under traditional PET.
  • Governments in numerous developing countries have become actively interested in assessing and meeting the needs of PET-CT scanner devices in hospitals.
  • One such measure has been noted recently in India, where the state government of one of its states has been asked by law making agency to submit an assessment of the requirement of PET-CT scanner device in all district headquarters hospitals.
  • Radiology groups in developing regions are showing a marked inclination of expanding their diagnostic capability by adding PET-CT. One such initiative has been notices in South Africa, where a radiology group in Eastern Cape Province, Africa, has deployed a scanner device in its cancer care center. With this, oncology patients will benefit immensely as now they would not need to seek services outside the province.

Some of the most prominent competitors operating in the competitive landscape of global PET-CT scanner device market include –

  • Mediso Ltd.
  • PerkinElmer, Inc.
  • Shimadzu Corporation
  • Hitachi, Ltd.
  • General Electric Co.
  • Toshiba Corporation

Global PET-CT Scanner Device Market: Key Growth Dynamics

Advances being witnessed in Oncological Clinical Practice paves way for New Frontiers

The need for overcoming the limitations of PET and CT in oncology imaging in developing and developed regions is a key factor driving the demand for PET-CT scanner devices. One of the objectives of oncology is to get precise anatomical imaging combined with advanced molecular techniques. The rising demand for a cost-effective non-invasive technique for the staging of cancer is also catalyzing the prospects of the global PET-CT scanner device market.

PET-CT scanner device are fast gaining traction in multiple areas such as diagnosis, staging, monitoring of cancer management, and radiotherapeutic planning.

Ceaseless Technological Advances create New Avenues

Technology advances have resulted in imaging with better accuracy, performance, and reproducibility, thereby catalyzing the prospects of the global PET-CT scanner device market. Functionalities in focus pertain to resolution and contrast, time-of-flight acquisition, and field-of-view imaging. Further, increasing inclination of healthcare providers toward value-based personalized care is a notable trend boosting the market.

Prevalence of Cancer and Chronic Diseases propelling Demand

In various parts of the globe, the increasing incidence of cancer, especially of lung, breast, and colon is a notable trend boosting the market. PET-CT scanner devices are also witnessing increasing potential in monitoring cardiac conditions. The growing prevalence of cardiovascular diseases is a significant factor fueling the prospects.

Global PET-CT Scanner Device MarketRegional Outlook

On the regional front, developing regions are witnessing rising potential in the global PET-CT scanner device market. In particular, Asia Pacific may show an exceptional potential and may gain shares in the coming years. The growth in the regional market is fueled by rapidly rising elderly populations who need diagnostic and radiology services. Moreover, substantial investments being made by governments in the key economies of the region for modernizing healthcare infrastructures in recent years has been imparting large impetus to the demand for PET-CT scanner device in the coming years. Meanwhile, North America is expected to rise at an attractive pace during the assessment period of 2018–2028.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.