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Positron Emission Tomography or PET scanners utilize positron-emitting radioactive tracers to produce three-dimensional images of molecular and metabolic processes inside the body. PET scans provide valuable functional information about organ systems and tissues by tracking these radioactive tracers that are attracted to regions of higher biological activity. The scans can help clinicians accurately diagnose and stage diseases like cancer, cardiovascular conditions, and neurological disorders. PET imaging allows for detection of abnormalities much earlier than other modalities and provides real-time visualization of treatment response and effectiveness. The detailed images produced assist doctors in developing personalized care plans by mapping the extent and location of abnormalities precisely.
The global Positron Emission Tomography Scanners Market is estimated to be valued at US$ 2.5 Bn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends positively impacting the growth of PET scanners market is the ongoing technological advances. Manufacturers are focusing on developing next-generation PET systems with improved imaging capabilities. For instance, Total-body PET scanners offer wider scan coverage and faster image acquisition. Digital PET and time-of-flight PET technology enhance image quality and resolution. Additionally, advanced reconstruction algorithms and artificial intelligence/machine learning integrated technologies help produce higher quality images and enable more accurate diagnoses. Multi-modality imaging solutions integrating PET with CT and MRI are also gaining traction as they provide anatomical and functional details together. Such innovations are improving clinical outcomes and expanding PET scanning applications in theranostics, neurology, cardiology and oncology. This, along with growing demand for personalized care is expected to fuel the demand for advanced PET scanners over the forecast period.
Porter’s Analysis
Threat of new entrants: Low as it requires high capital investment and strong distribution networks to enter the PET scanners market.
Bargaining power of buyers: Moderate as the market is dominated by few key players however presence of substitutes balances this power.
Bargaining power of suppliers: Low due to presence of many component suppliers and intangible component production requires specialized expertise.
Threat of new substitutes: Low as PET scanners provide accurate detection and can’t be replaced easily.
Competitive rivalry: High as the market is dominated by global players however regional players pose competition based on pricing.
Key Takeaways
The global Positron Emission Tomography Scanners market is expected to witness high growth.
Regional analysis: Asia Pacific region is expected to exhibit the highest growth over the forecast period driven by expanding healthcare infrastructure, rising medical tourism industry, and growing awareness regarding early disease diagnosis.
Key players operating in the Positron Emission Tomography Scanners market are Positron Corporation (US), CellSight Technologies (US), RefleXion (Canada), Clarity Pharmaceuticals (Australia), PETsys Electronics SA (Portugal), Blue Earth Diagnostics Limited (UK), Qubiotech Health Intelligence S.L. (Spain), Advanced Accelerator Applications (France), Lily (US), Agfa-Gevaert Group (Belgium), CMR Naviscan (US), Neusoft Corporation (China), Siemens (Germany), Segamicorp (US), ONCOVISION (Spain), MedX Holdings, Inc (US), Modus Medical Devices Inc (Canada), Radiology Oncology Systems (US), TOSHIBA CORPORATION (Japan), and General Electric Company (US), among others.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
