The report ‘Global Positron Emission Tomology Market by product type (full ring and partial ring PET scanners), application (oncology, neurology, cardiology and other departments), detector type (bismuth germanium oxide, lutetium Oxyorthosilicate, gadolinium Oxyorthosilicate, lutetium fine silicate and lutetium yttrium orthosilicate), end-user (hospitals, diagnostic centres, PET centres and research institutes), and region (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) – Global Forecast to 2030’. In 2020, positron emission tomography had its market share valued at USD 1016.20 million globally. In 2030, the market is expected to be valued at USD 1508.57 million, with a 4.03% CAGR growth.
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Key Factors Augmenting the Market Growth
Some of the necessary factors that assist in driving the overall growth of the market globally are the increase in the number of cancer patients and the expanded coverage of PET imaging.
The full-ring PET scanner market segment had the largest market share and is predicted to increase at a 5.1% CAGR by product category.
The positive emission tomology industry has been divided into full-ring PET scanners and partial-ring PET scanners based on product. The full-ring PET scanner market segment had the largest market share and is predicted to increase at a 5.1% CAGR. However, because there are no gaps in a partial-ring PET scanner, scanning patients while resting on the proton treatment bed is not practical, which leads to medical institutions preferring the full-ring PET scanner.
By application, the oncology segment accounted for more than 80% of the market in 2019. The positive emission tomology industry has been divided into oncology, cardiology, neurology, and other segments based on where it is used. The oncology segment accounted for more than 80% of the market in 2019. Due to the rising need for early cancer detection and treatment, PET scanners have increased, resulting in market growth.
In 2016, the Lutetium Oxyorthosilicate (LSO) detector type segment had the largest market share, accounting for 36.0% of the worldwide Positron Emission Tomography (PET) scanners market.
The positive emission tomology industry has been divided into bismuth germanium oxide (BGO), lutetium Oxyorthosilicate (LSO), gadolinium Oxyorthosilicate (GSO), lutetium fine silicate (LFS) and lutetium yttrium orthosilicate (LYSO) based on where it is used. The Lutetium Oxyorthosilicate (LSO) detector type segment accounted for 36.0% of the worldwide Positron Emission Tomography (PET) scanners market. LSO crystals offer excellent light output and density, a short decay period, and excellent energy resolution, making them ideal for PET. As a result, the widespread usage of LSO has resulted in significant market growth for PET devices.
The Hospital end-user category is the largest market segment based on end-user, valued at US$ 322.7 Mn in 2015.
The PET scanners market is divided into hospitals, diagnostic centres, PET centres and research institutes based on end-users. The Hospital end-user category was valued at US$ 322.7 million in 2015. As a result of the rising need for early cancer detection and treatment and the availability of skilled medical professionals in PET, the use of PET scanners has increased, resulting in market growth.
North America held the highest market share by region, accounting for 42.2% of the global PET scanners market in 2016
The global PET market is segmented geographically into North American, European, Asia-Pacific, Latin American, and the Middle East and African regions. North America dominates the positron emission tomography industry because of the region’s high need for precise diagnoses and technological advances in PET technology.
Key Players Existing in the Market
The leading organisations plying in the positron emission tomology market are Agfa Healthcare, Gamma Medica Inc., GE Healthcare, Neusoft Medical Systems, Oncovision, Koninklijke Philips N.V., Positron Corporation, Siemens AG, Segami Corporation, Spectrum Dynamics Ltd., Naviscan, Inc., MedX Holdings Inc., Modus Medical Devices Inc., Radiology Oncology Systems, Inc., Yangzhou Kindsway Biotech Co. Ltd., Toshiba Corporation and Hitachi, Ltd.
Recent Developments