POSITRON EMISSION TOMOGRAPHY SCANNERS MARKET ANALYSIS

The high cost of PET scans can hamper the global positron emission tomography (PET) scanners market. PET scans are generally more expensive as compared to other diagnostic imaging techniques like MRI and CT scans. The high equipment and operating costs associated with PET scans make them inaccessible for many patients and healthcare providers. On average, the cost of a basic PET scan ranges from US$ 1,000 to US$ 2,000 in developed countries without insurance coverage. For advanced scans using novel radiotracers, the costs can go up to US$ 3,000 or even more. The high capital expenditure required for setting up a PET scanning facility is a major barrier. A standalone PET scanner costs between US$ 1- US$3 million depending on the configuration.  Facilities need to invest in maintenance, skilled manpower and radiotracers to operate PET scanners. These substantial infrastructure and operational investments associated with PET scanning discourage many healthcare providers, especially those in developing regions, from adopting this technique. Limited access to funding further aggravates the situation. According to the World Bank data, out-of-pocket health expenditures as a percentage of total health expenditure was 63% in low-income countries in 2020 reflecting the lack of universal healthcare in such regions. The reimbursement rates for PET scans vary greatly worldwide and insurance coverage is inadequate in many parts of the world. For instance, in 2020, according to the report published by the Commonwealth Fund, only 64% of Americans had health insurance through an employer in 2020 making medical tests like PET scans unaffordable for uninsured populations. The high costs and limited funding coupled with incomplete insurance coverage significantly hampers the deployment and utilization of PET scanners globally.

Market Opportunities: Application of PET scans in neurology and cardiology

The application of PET scans in neurology and cardiology provides immense scope and opportunity for the global positron emission tomography (PET) scanners market. PET scanning uses radioactive tracers to help reveal molecular processes in the body. It has revolutionized the field of neurological and cardiac diagnostics in recent times. PET scans help identify the presence and extent of many neurological conditions non-invasively. Diseases like Alzheimer's, stroke, epilepsy, brain tumors and Parkinson's disease leave distinct biochemical signatures that PET is exceptionally sensitive in detecting. Its utilization is growing rapidly for both research and clinical purposes in neurology. For instance, according to a 2021 report published by the World Health Organization, dementia affects over 55 million people worldwide currently and is projected to nearly triple to 152 million by 2050 due to the aging global population. PET scans play a pivotal role in the accurate diagnosis and monitoring of different types of dementia. In cardiology, PET scans have emerged as a powerful tool for diagnosis of coronary artery disease. It can identify vulnerable plaque in arteries that may rupture and cause a heart attack. PET is also widely used for assessment of myocardial viability, which has implications in decisions around revascularization procedures. In 2020, study published in the European Heart Journal found that routine use of PET imaging led to improved patient outcomes and significantly lower healthcare costs through better identification of patients who would benefit most from invasive treatments like bypass surgery.