The global PET-CT scanner device market size is expected to reach $3.34 billion by 2028, and is expected to increase by a compound annual growth rate of 6.6%, according to a study by Polaris Market Research.
The demand for digital device segment is expected to increase during the forecast period, according to the report, which gives a detailed insight into current market dynamics and provides analysis on future market growth. The use of digital scanner devices enhances the overall patient experience while improving accuracy, reducing scan time, and boosting the detectability of small lesions.
The fixed device segment dominated the global market in 2020. However, the demand for mobile device segment is expected to increase during the forecast period. Mobile device segment is increasingly being used for small and medium healthcare institutions. Some benefits associated with mobile device segment include reduced costs, shorter installation time, low initial investment, and reduced traveling for patients. Leading market players such as GE, Philips, Siemens offer a wide range of mobile PET-CT scanner devices.
The oncology segment dominated the global market in 2020. The product is increasingly being used for the detection of various types of cancers such as lymphoma, melanoma, lung cancer, breast cancer, and head and neck cancer among others.
PET-CT device scans enable doctors to diagnose the disease and determine the stage, plan treatment, and track treatment progress. The detailed information provided by the scans allows oncologists to offer an effective treatment by reducing the amount of healthy tissue exposure to radiation and identifying previously unsuspected cancer-bearing tissues.
The hospital segment dominated the global market in 2020. The increasing occurrence of cancer and cardiovascular diseases coupled with government initiatives to offer advanced healthcare services to citizens supports the growth of this segment. The growing need to perform diagnostic imaging procedures for effective detection, the growing geriatric population, and rising healthcare expenditure in developing countries, such as India, China, and Japan, boost the adoption of the product in hospitals.
The medium slice segment also dominated the global market in 2020. The increasing need to obtain detailed and accurate imaging in the case of oncology, cardiology, and neurology has increased the demand for medium slice segment. The need for high scan speed improved detection speed, and enhanced efficiency and patient experience has increased the adoption of medium slice scanners across the globe.
North America is also expected to maintain its dominance over the forecast period. The rising occurrence of cardiological and neurological diseases, increasing geriatric population, and growth in technological advancements support the market growth in this region. Increasing applications in cancer detection and the presence of well-established healthcare infrastructure further increases the demand for the product in North America.
Asia Pacific is expected to experience significant growth during the forecast period owing to increasing health awareness, rising spending on healthcare, and significant government investments aimed at providing improved healthcare services. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Owing to technological advancements, and the greater need to cater to customer requirements, companies are collaborating in order to strengthen the market presence and gain market share. Broadening of the product portfolio is another trend that is visible in the industry.
Some of the major market participants include General Electric Co., Mediso Ltd., Toshiba Corporation, Siemens AG, Positron Corporation, Shimadzu Corporation, Perkin Elmer Inc., Fujifilm Holdings, Koninklijke Philips N.V., Carestream, ECHO-SON S.A., Hitachi Ltd., Fonar Corporation, Esaote S.P.A., and Yangzhou Kindsway Biotech Co. Ltd.