PET-CT SCANNER DEVICE MARKET ANALYSIS

PET-CT Scanner Device Market Size and Trends

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.