New York, NY -- (SBWIRE) -- 07/17/2019 -- It evaluates the data gathered to give an extensive view of the trends of the industry and predicts the possible growth in the forecasted duration. For this study, the historical data has been collected from the years 2016 and 2017 while considering 2018 as the base year to estimate the rise of the industry in the years 2019 to 2026.
Positron Emission Tomography is a medical diagnostics process, which uses a nuclear medicine imaging technique to generate data on the metabolic and functional state of the various internal body organs and tissues in order to identify complex diseases. It involves the use of a small amount of radioactive substances called tracers that move through the bloodstream and thus, help radiologists by providing insights on the concerned areas. The global Positron Emission Tomography (PET) market was valued at over USD 930 Million in 2016 and has reported a year-over-year growth rate of about 3.6%. This market is expected to reach a CAGR of roughly 5% during the forecast period with a valuation to cross approximately USD 630 Million by the end of 2026 in North America alone.
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The PET technology has been combined with CT and MRI to provide more reliable data on the metabolic and functional context. PET is extensively employed in the field of oncology to diagnose the different types of cancer and is also used to diagnose neurological disorders and cardiovascular diseases.
The PET market will rise steadily alongside the rising demand for better diagnostics to cater to the increasing incidences of cancer, neurological, and cardiovascular diseases. PET is a better imaging technology over others, and this too will widen the market. Further, the use of PET with other diagnostics such as MRI, CT scan will also propel the PET market during the forecast period. Furthermore, the high cost of the PET equipment, capital investment, refurbishment issues, and strict regulatory guidelines might impede the growth of the Positron Emission Tomography market.
Some of the key findings from our Positron Emission Tomography forecast report
The report provides an assessment of the Positron Emission Tomography market to foretell its future maturation. This report also lays out the identification and evaluation of the macro and micro factors that affect the global positron emission tomography (PET) market such as the various drivers and restraints. The industry has been categorized into different segments based on type as Full-Ring PET Scanners, Partial Ring PET Scanners; by application such as cardiology, neurology, oncology, and others with oncology being the most lucrative application segment; by End-user as Hospitals, Diagnostic Centres, PET Centres and Research Institutes. The study considers all the above factors and others to assess their size, share, demand, trends, gross profit, total earnings, and revenue and speculate further improvement required.
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Positron Emission Tomography Global Market overview:
This report gives an all-encompassing outlook of the global landscape of Positron Emission Tomography Market potential to guide the investors in making well-informed executive decisions. North America spends the highest on healthcare among all the other geographies, making it the largest market for PET. While in Asia-pacific, the awareness of nuclear imaging techniques and the large number of patients in the Asia-Pacific, as it consists more than half of the world's entire population, are the driving forces for Positron Emission Tomography. The global market of Positron Emission Tomography is highly dominated by a few, which account for 80% of the market share, namely, GE Healthcare, Philips Healthcare and Siemens Healthcare.
The top players in the Positron Emission Tomography market include:
- GE Healthcare
- Philips Healthcare
- Siemens Healthcare
- Positron Corporation
- Segami Corporation
- Spectrum Dynamics Ltd.
- Naviscan Inc
- MedX Holdings Inc.
Market segment based on the type:
- Full-Ring PET Scanners
- Partial Ring PET Scanners
Market segment based on the Application
- Cardiology
- Neurology
- Oncology
Market segment by Region/Country include:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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