Global PET Scanners Market: Current Analysis and Forecast (2022-2028)

An imaging test called positron emission tomography (PET) can help reveal the metabolic or biochemical function of tissues and organs. This technology helps in the prevention of unnecessary medical procedures, improves treatment by providing detailed anatomical imaging, and provides a cost-effective imaging technique. It is an essential diagnostics tool, especially for scanning bone, soft tissue, and blood vessels all at the same time. The PET scanners market is witnessing tremendous growth due to the increasing incidence of cancer globally. For instance, according to the data published by the American Cancer Society (ACS), in January 2020, around 1.8 million new cancer cases were diagnosed and 606,520 cancer deaths in the United States.

The PET scanner Market is expected to grow at a steady rate of around 5% owing to the increasing incidences of cardiovascular disorders. For instance, as per CDC, in 2020, about 697,000 people in the United States died from heart disease.

Based on the type, the market has been categorized into PET-CT and PET-MRI. Among them, the PET-CT segment holds a considerable share of the market. The rising prevalence of neurological disorders along with the frequent product launch of this category of products also fuels segmental growth. For instance, in October 2022, GE Healthcare launched Omni Legend digital PET/CT system. The system includes a new digital BGO (dBGO) detector material with a tiny crystal size for providing more than twice the sensitivity compared to previous digital scanners.

Based on the application, the market has been categorized into oncology, cardiology, neurology, and others. Among them, the neurology segment is expected to grow at the highest CAGR in the market. The surging prevalence of neurological disorders such as Parkinson's disease, along with the increasing number of treatment options for the disease is the important factor fueling segmental growth. For instance, as per the Parkinson's Foundation, nearly 90,000 people in the U.S. are diagnosed with Parkinson's disease each year and more than 10 million people worldwide are living with it.

Based on the end-user, the market has been categorized into hospitals, diagnostic imaging centers, and others. Among them, the hospital category is to witness higher adoption of PET scanners during the forecast period. This is mainly due to the rising number of emergency admissions in hospitals and the growing number of surgeries performed each year has contributed to the segmental growth of the hospital segment.

For a better understanding of the market adoption of the PET scanners industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America is anticipated to hold a dominant share during the forecast period. This is mainly due to the presence of well-established market players in the region, advancements in positron emission tomography (PET) scanners and related services, and the growing population with an increasing number of cancer cases. For instance, according to the CDC, In the United States in 2019, 1,752,735 new cancer cases were reported and 599,589 people died of cancer.

Some of the major players operating in the market are General Electric Company; Hitachi, Ltd; Koninklijke Philips N.V.; Mediso Ltd.; PerkinElmer Inc; Siemens Healthcare GmbH; Positron; Shimadzu Corporation; Toshiba Corporation; and Kindsway Biotech.