PET-CT SCANNER DEVICE MARKET ANALYSIS
The Global PET-CT Scanner Device Market is estimated to be valued at USD 2.31 Billion in 2024 and is expected to reach USD 3.45 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. The growing prevalence of cancer and increasing applications of PET-CT scans for diagnosis are expected to drive the market growth during the forecast period.
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Rising incidence and prevalence of cancer
Cancer has been one of the major public health concerns across the world. The incidence and prevalence of various cancer types has seen a consistent rise over the past few decades. As per various global health reports, the number of new cancer cases diagnosed each year is expected to rise from 18.1 million in 2018 to 29.5 million by 2040. While improvements in cancer screening and diagnostics have contributed to the rise in incidence rates, other factors like changing lifestyle patterns, growing elderly population, and environmental pollutants are also considered to be driving the steady increase in cancer burden globally. PET-CT scanners have emerged as an important diagnostic tool for detecting, diagnosing, staging and restaging of various cancers. It helps in visualization and characterization of tumors in the body with high sensitivity and specificity. The scanner is able to detect even small cancer lesions and help determine the extent or spread of disease which has significant implications on further treatment strategies. With rising cancer prevalence, there is greater focus on early and accurate diagnosis to commence appropriate treatment at earliest. PET-CT's ability to detect most cancers including lung cancer, colorectal cancer, lymphoma, and melanomas at microscopic level without invasive procedures make it a preferred choice. It provides valuable whole-body assessment and helps clinician take informed decisions regarding the stage of cancer and treatment approach.
The increasing trend of cancers would continue to drive demand for advanced diagnostic modalities like PET-CT scanners. As more number of individuals are diagnosed with cancer types every year, effective diagnosis and monitoring becomes crucial. PET-CT with its functional and anatomical imaging capabilities has become indispensable for oncologists worldwide. Furthermore, growing geriatric population who are more susceptible to cancer diseases adds to the patient pool requiring repeated PET scans. Ultimately, the consistent rise in cancer burden poses a major public health challenge but also leads to greater utilization of PET-CT technology for improving clinical outcomes. For instance, in February 2024, The International Agency for Research on Cancer (IARC) released its 2022 report on 1 February, ahead of World Cancer Day, highlighting the global cancer burden. The report estimates 20 million new cancer cases and 9.7 million deaths in 2022, with lung and breast cancer being the most common. Significant disparities in cancer burden and survival rates persist between high and low HDI countries, driven by lifestyle factors like smoking and diet. The report projects cancer cases could rise to 35 million by 2050, particularly in low and medium HDI countries, emphasizing the urgent need for improved healthcare infrastructure and access to cost-effective cancer services.
the market growth during the forecast period.
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Increasing Demand for Accurate and Non-invasive Diagnostic Techniques
Diagnostic imaging has advanced significantly over the past few decades. Conventional imaging procedures like X-ray, CT, MRI, and ultrasound while useful have certain limitations. There was a need for diagnostic modalities which can better characterize tumors, detect abnormalities at molecular level with high sensitivity, and also be minimally invasive. This increasing demand led to the emergence and rapid adoption of PET-CT technology across healthcare facilities globally.
PET imaging using radioactive tracers overcomes limitations of anatomical imaging alone. It provides invaluable functional and molecular information about abnormal metabolic activity within the body. When combined with CT, it offers precise anatomical localization of functional abnormalities detected. This multi-parametric approach revolutionized disease diagnosis and management. PET-CT is found highly valuable not just for oncology but also for cardiology, neurology, and several other clinical applications.
With growing awareness, patients and healthcare providers increasingly prefer accurate, non-invasive procedures for evaluation and surveillance of diseases. Procedures requiring tissue biopsy are being avoided if comparable or better precision can be obtained non-invasively. PET-CT perfectly fits this need as it does not require the removal of any tissue samples. It captures whole-body functional and metabolic activity related pictures within a single session without any need for surgery. This has made it very attractive for repeat scans essential for treatment monitoring and response assessment.
Key Takeaways from Analyst:
The global PET-CT scanner device market is expected to witness steady growth over the next five years driven by the rising incidence of cancer and growing applications of PET-CT scans in the oncology segment. Moreover, the ability of PET-CT to provide both functional and anatomical information makes it an important diagnostic tool. However, the high cost of PET-CT scanners and limited reimbursement for PET scans in developing countries may hinder the market growth to some extent.
North America will continue to dominate the PET-CT scanner device market supported by widespread insurance coverage and availability of advanced healthcare facilities in the region. The Asia Pacific market is likely to see the fastest growth led by expanding healthcare infrastructure, rising medical tourism, and growing healthcare expenditure in China and India. Increased awareness about the clinical benefits of PET-CT scans among patients and physicians will boost the market growth in the Asia Pacific region.
Manufacturers are coming up with new technological advancements such as digital PET detectors to offer better resolution and shortened scan times. Development of point-of-care solutions with compact PET-CT scanner devices will open new market opportunities. Adoption of multi-modality imaging with PET-MRI and PET-ultrasound is also growing due to enhanced diagnostic capabilities. However, requirement of high capital investment and technical expertise may limit the adoption.
Market Challenge - High cost of PET-CT scanners
One of the major challenges currently faced by the global PET-CT scanner device market is the high cost of these machines. PET-CT scanners combine two medical imaging techniques, positron emission tomography (PET) and X-ray computed tomography (CT), into a single scanning machine. However, developing and manufacturing such advanced medical imaging systems is an expensive process. On an average, a basic PET-CT scanner costs range $1-3 million initially. Additionally, these machines also require high operating and maintenance costs. The expensive price tags make PET-CT scanners unaffordable for many smaller hospitals and diagnostic centers globally. The high capital expenditure poses a major barrier limiting wider adoption of the technology. Many countries also have difficulties in reimbursing the high costs of PET-CT scans from public healthcare programs. This challenge of the steep prices can hamper the future growth prospects of the PET-CT scanner device market to some extent, unless costs are brought down through technology advancements and innovations.
Market Opportunity - Emerging Markets in Asia Pacific and Latin America
One of the key opportunities for the global PET-CT scanner device market lies in the emerging economies of Asia Pacific and Latin America regions. Both regions have witnessed strong economic growth over the past decade and growing healthcare budgets. The rising healthcare spending has also led to increasing investments towards upgrading medical imaging infrastructure in these developing nations. This presents a lucrative potential market for PET-CT scanner device manufacturers. Many countries like India, China, Brazil, and Mexico now have growing middle-class populations who can afford advanced treatments. In addition, governments are also providing more support to modernize diagnostic capabilities. If manufacturers effectively target these emerging regions, it can help compensate the market to an extent and drive future revenue streams for sustained growth of the PET-CT scanner device industry worldwide. Proactive entry into such fast developing markets at an early stage can enable companies to gain a stronger foothold.
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By Product Type - Established Infrastructure Drives Adoption of Stationary PET-CT Scanners
In terms of product type, stationary PET-CT scanners segment is estimated to hold the highest share of 59.2% in 2024 owing to widespread infrastructure support and extensive usage in hospitals and diagnostic centers. Being permanently installed systems, stationary PET-CT scanners require dedicated rooms outfitted with necessary electrical connections, radiation shielding as well as precision imaging equipment. The high capital expense of establishing such infrastructure drives hospitals and diagnostic laboratories to maximize its utilization over the lifespan of the scanner. As a result, stationary systems see consistent patient flow and remain in near-constant usage compared to mobile scanners.
The preference for stationary systems is also attributable to the precision they offer in complex oncological imaging. Being fixed-setup installations, they provide stable patient positioning essential for advanced PET and CT fusion imaging techniques. Any minor movement during the scanning process can compromise image quality, potentially leading to inaccurate diagnoses. Stationary systems thus ensure highest accuracy through robust patient immobilization. Additionally, their larger gantry openings allow scanning of patients with varying physiques, from pediatric to bariatra. This expands their coverage to a broader patient pool within hospitals and diagnostic centers.
The widespread compatibility of stationary machines with Picture Archiving and Communication Systems (PACS) in hospitals also drives uptake. Seamless data transmission from the scanner room to radiologist’s workstations facilitates timely diagnostic assessment. This enables fast clinical decision making, optimized treatment planning as well as integration of findings in the patients' longitudinal records. Furthermore, technical staff in hospitals gain extensive experience with stationary systems through continuous operation and maintenance over the years. This experience-based expertise translates to higher reliability and uptime of these systems.
By Detector Type - Precision Imaging Drives Demand for Full-Ring PET-CT Scanners
In terms of detector type, full-ring PET-CT scanners segment is estimated to contribute the highest share of the market owing to their superior imaging capabilities. Compared to partial ring configurations, full ring systems provide fuller anatomical sampling by capturing gamma radiation emitted from the entire patient body within the scanning gantry. The circular detector coverage allows reconstruction of images with isotropic voxels devoid of partial volume effects frequently seen with axial sampling used in partial ring designs. Isotropic voxels facilitate identification of small lesions and tumors with higher accuracy.
Additionally, full ring systems offer higher sensitivity due to greater detector coverage of the patient. More gamma counts can be recorded leading to faster scan times, lower radionuclide dosages or higher image statistics with same dose. This enhances diagnostic confidence, especially in oncological staging where precise delineation of tumor spread is paramount for determining appropriate treatment pathways. Higher throughput of full ring systems also supports productivity needs of busy oncology departments seeing large patient volumes.
Their rotating gantry with a 360-degree circular detector array also enables list mode acquisition essential for advanced imaging protocols like attenuation corrections, respiratory gating and time-of-flight. Such techniques improve image contrast, accuracy of activity quantification as well as anatomical localization of disease foci. Furthermore, many major manufacturers today focus their research and development on full ring instead of partial ring technologies. This yields continual enhancements to full ring system designs providing state-of-the-art imaging capabilities. Their advanced feature set reassures their preference among healthcare facilities with high standards of diagnostic excellence.
By Application - Widening Clinical Applications Drive Oncology Segment Growth
In terms of application, the oncology segment is estimated to contribute the highest share of the market driven by the widening role of PET-CT in multidisciplinary cancer management. PET imaging serves as a metabolic fingerprint enabling detection of malignant tumors and assessment of their biology through measurement of glycolytic activity. When combined with anatomic data from CT, PET-CT offers unparalleled whole body staging of both primary and metastatic malignancies. Multiparametric tumor characterization through standardized uptake values and total lesion glycolysis enables optimized therapeutic planning.
PET-CT also evaluates treatment response within a few cycles through early identification of non-responding disease foci. This supports timely change of ineffective treatments before clinical progression. Its role in radiation therapy planning precisely delineates tumor volumes for improved treatment targeting. Similarly, it detects recurrent cancers early when still amenable to local therapy. Such functional imaging capabilities are revolutionizing personalized oncology by allowing biology-driven, precision-based management approaches.
Rising cancer incidence globally is consistently driving up PET-CT volumes for staging, response monitoring as well as radiation oncology applications. Its widened role in tumor boards for multidisciplinary decision making further drives institutional investments. Novel tracer development expanding their utility across more cancer types will continue helping oncology consolidate as the primary clinical vertical. Emerging technologies also enhance PET-CT’s potential through combination with MRI and performance of complex examinations such as Alzheimer’s imaging, contributing to oncology’s long term growth profile.
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North America dominates the global PET-CT scanner device market with the estimated market revenue share of 40.3% in 2024 for quite some time now. The region is home to some of the most advanced healthcare facilities as well as a few leading players in the medical device industry. The strong presence of prominent manufacturer’s and established supply chain networks has enabled North America to cater to both domestic as well as international markets effectively. Additionally, favorable reimbursement policies, higher healthcare spending, rising incidence of cancer and growing ageing population have further boosted the demand for PET-CT scanners in the region. With the hospitals readily able to procure advanced diagnostic devices, North America enjoys the maximum availability of PET-CT scanners per capita globally. Its undisputed early mover advantage and strong product portfolio of regional players have helped North America to solidify its leadership position over the years.
Asia Pacific, on the other hand, has emerged as the fastest growing regional market for PET-CT scanners. The growing medical tourism across developing countries like India and Thailand is sparking increased investments from both public and private healthcare sectors of the region. This, coupled with rising healthcare expenditure, expanding patient pool, and growing cognizance about the benefits of whole-body imaging devices, has accelerated the demand from Asia Pacific. Moreover, significant portion of exports from leading North American and European manufacturers is increasingly being directed towards Asia Pacific owing to its massive untapped market potential. This steady inflow of high-end devices has enabled progressive penetration of PET-CT scanners even in tier-2 and tier-3 cities across India, China, Japan and South Korea. Promising economic growth, flourishing medical technology industry and ongoing healthcare reforms are further likely to sustain the momentum for Asia Pacific to maintain its status as the hotbed of opportunities.
PET-CT Scanner Device Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 2.31 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 5.9% | 2031 Value Projection: | US$ 3.45 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
General Electric Co., Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems, Hitachi, Ltd., Mediso Ltd., PerkinElmer, Inc., Toshiba Corporation, Bruker Corporation, Neusoft Medical Systems, Yangzhou Kindsway Biotech Co. Ltd., Shimadzu Corporation, United Imaging, Positron Corporation, MIE (Medical Imaging Electronics), Basda, MinFound Medical Systems, Radimage Technologies Pvt. Ltd., Edge Medical Solutions Pvt. Ltd., and GS Medical Imaging Private Limited |
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*Definition: The Global PET-CT Scanner Device Market consists of medical imaging devices that perform Positron Emission Tomography (PET) and Computed Tomography (CT) scans simultaneously. PET-CT scanners combine the anatomical imaging capabilities of CT with the molecular imaging properties of PET to provide detailed functional and anatomical information for the early diagnosis and accurate staging of various cancers.
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About Author
Komal Dighe is a Management Consultant with over 8 years of experience in market research and consulting. She excels in managing and delivering high-quality insights and solutions in Health-tech Consulting reports. Her expertise encompasses conducting both primary and secondary research, effectively addressing client requirements, and excelling in market estimation and forecast. Her comprehensive approach ensures that clients receive thorough and accurate analyses, enabling them to make informed decisions and capitalize on market opportunities.
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