PET-CT Scanner Device Market Expected to Reach $3.20 Billion by 2030

According to a new report published by Allied Market Research, titled, “Global PET-CT Scanner Device Market by Type, Service Provider, Slice Count, Isotopes/Detector Types, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global PET-CT scanner device market was valued at $1,876.14 million in 2020, and is projected to reach $3,202.48 million by 2030, registering a CAGR of 5.5% from 2021 to 2030.

Many diseases such as cancer, cardiovascular, certain infectious, and brain disorders require both positron emission tomography (PET) and computed tomography (CT) scans for proper diagnosis of diseases. PET scanner measures metabolic activity, whereas CT scanners highlight anatomical features of the body. PET-CT scanner combines the strength of both scanners enabling more accurate diagnosis as well as localizing and monitoring the diseases. It further reduces space of imaging facilities & less time for physician to elevate the scans.

The global PET-CT scanner device market is expected to experience significant growth during the forecast period, owing to rise in prevalence of chronic illnesses throughout the world, surge in demand for effective diagnostic systems, and increased coverage for PET-CT scanning under Medicare. Moreover, surge in use of PET-CT for cancer diagnosis, development of newer products and increase in investments in R&D by companies are anticipated to drive the growth of the market. However, limited shelf life and inadequate availability of radiopharmaceuticals are expected to hinder the market growth. Conversely, improvement in healthcare infrastructure in emerging nations offers the lucrative growth of the market.

The global PET-CT scanner device market is segmented into type, service provider, slice count, isotopes/detector types, application, and region. On basis of type, the market is bifurcated into stationary scanners and portable/mobile scanners. Depending on service provider, the market is classified into hospitals, diagnostic centers, and research institutes. By slice count, it is categorized into low slice scanner (<64 slices), medium slice scanner (64 slices), and high slice scanner (>64 slices). As per isotope/detector type, it is segregated into flurodeoxyglucose (FDG), 62Cu ATSM, 18 F sodium fluoride, FMISO, gallium, thallium, and others. According to application, it is fragmented into oncology, neurology, cardiology, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By type, the stationary scanners segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in demand for stationary scanner, surge in patient awareness toward stationary scanners, advancements in the PET-CT scan devices, rise in number of cases of cancer, cardiology diseases, and the launch of effective products.

Depending on service provider, the hospitals segment was the major contributor to the global market in 2020, and is anticipated to lead during the forecast period, due to increase in number of hospitals, surge in patient awareness toward treatment in hospitals, rise in the healthcare infrastructure, and increase in adoption of PET-CT scanner device.

As per slice count, the medium slice scanner (64 slices) segment led the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in demand for medium slice scanner, surge in applications of medium slice scanners, advancements in the PET-CT scan devices, and increase in the rate of imaging with medium slice scanners.

According to isotope/detector type, the flurodeoxyglucose (FDG) was the prominent segment in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in applications of FDG, decline in the number of side effects of FDG, and surge in prevalence of chronic diseases.

By application, the oncology segment exhibited the highest growth in 2020, and is anticipated to continue this trend during the forecast period, owing to rise in prevalence of cancer disease, surge in patient awareness towards early diagnosis & treatment of cancer, changes in lifestyle of population, and increase in consumption of tobacco among the population.

North America accounted for major share of the global PET-CT scanner device market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in number of chronic disease patients, surge in demand for PET-CT scan devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities coupled with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced scanner devices, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of PET-CT.

Key Findings Of The Study

• As per type, the stationary scanners segment held majority share in the global market in 2020.
• On the basis of service provider, the hospitals segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• By slice count, the medium slice scanner (64 slices) segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• As per isotope/detector type, the FDG segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• According to application, the oncology segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.8% during the forecast period.