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Global PET/CT scanner market projected to reach $2.1 billion by 2023

by John R. Fischer, Senior Reporter | November 08, 2017
CT Molecular Imaging PET X-Ray
The global PET/CT scanner device market
is expected to reach approximately
$2,108 million by 2023
The global PET/CT scanner device market is expected to reach approximately $2.108 billion by 2023, according to an analysis published by research firm Allied Market Research.

The market for this technology is projected to rise from its 2016 value of $1.45 billion at a compound annual growth rate of 5.0 percent between 2017 and 2023, driven primarily by an increasing prevalence of chronic illnesses worldwide, greater demand for effective diagnostic systems and increased coverage of PET/CT scans under Medicare.

The market is broken down into different segments that include type, service provider, slice count, isotopes, application and region. Type is divided between stationary scanners and portable scanners/mobile scanners while service providers are made up of hospitals, diagnostic centers, and research institutes.

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Slice count refers to low-slice scanners that produce less than 64 slices, medium-slice scanners that construct 64 exactly, and high-slice scanners that produce more than 64 slices, while isotopes consist of flurodeoxyglucose (FDG), 62Cu ATSM, 18 F sodium fluoride, FMISO, gallium and thallium among others.

The market will experience further boosts from a surge in PET/CT scans for diagnosing cancer, as well as development in new products and more companies investing in R&D. Limited shelf life and inadequate availability of radiopharmaceuticals are predicted to hinder growth, however.

It is these factors that are constituting the use of this technology in various medical studies, such as for impacts in recurrent prostate cancer, testing responses to immune checkpoint inhibitor therapy in melanoma patients, and accurately diagnosing cardiac sarcoidosis. In addition, organizations are also issuing guidelines on the appropriate use of PET/CT. 

The report also provides current trends and future estimates in the market, along with quantitative analysis to help stakeholders capitalize on prevailing market opportunities between 2017 and 2023.
PET/CT value is currently analyzed across North America, Europe, Asia-Pacific and LAMEA.

Key players in the report include Toshiba Corporation, General Electric Co., Hitachi Ltd., Koninklijke Philips N.V., Shimadzu Corporation, Siemens AG, PerkinElmer Inc., Positron Corporation, Yangzhou Kindsway Biotech Co. Ltd., and Mediso Ltd.

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