Positron Emission Tomography-Computed Tomography (PET-CT) is an advanced imaging technology that combines the capabilities of PET and CT scans into a single machine. It is used to provide detailed images that help diagnose, stage, and monitor the treatment of various diseases, especially cancer. The technology has significantly enhanced the ability of healthcare providers to detect abnormalities, assess organ function, and visualize the extent of diseases with high precision.
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 PET-CT scanner market has been growing steadily due to the rising prevalence of chronic diseases, technological advancements, and increasing investments in healthcare infrastructure. The demand for PET-CT devices has particularly surged in oncology, cardiology, and neurology, where accurate imaging is critical for patient management.
Key Takeaways
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
Market Drivers
The global rise in cancer cases is one of the primary drivers of the PET-CT scanner device market share Cancer diagnosis and treatment rely heavily on imaging technologies, and PET-CT scanners have proven to be highly effective in detecting cancerous cells and monitoring treatment progress.Additionally, the increasing incidence of cardiovascular diseases and neurological disorders, such as Alzheimer's, has further driven demand for PET-CT scanners, as these conditions require detailed and accurate imaging for diagnosis and management.
Continuous innovation in medical imaging technology has improved the functionality and accuracy of PET-CT scanners. Hybrid imaging systems have evolved to provide more precise information about both the anatomy (via CT) and metabolic activity (via PET). Technological improvements, such as higher spatial resolution, shorter scan times, and enhanced image processing software, have made PET-CT an indispensable tool in modern diagnostic practices.The increasing healthcare spending and improving medical infrastructure in emerging markets such as India, China, and Brazil have contributed to the growing demand for PET-CT scanners. Government initiatives to upgrade healthcare facilities and the expansion of medical tourism in these regions have further boosted the market for advanced imaging technologies.
Rising Demand for Early Diagnosis and Personalized Medicine:
The trend toward personalized medicine, where treatments are tailored to individual patients based on their genetic and biological makeup, has amplified the need for precision imaging techniques like PET-CT. Early and accurate diagnosis allows for more effective and targeted therapies, particularly in cancer care, where early detection is critical to improving survival rates.
Porter's Analysis
Threat of new entrants: The PET-CT Scanner Device Market has high capital requirements and costs associated for R&D of products which make the threat of new entrants moderate.
Bargaining power of buyers: Individual consumers have low bargaining power in this market but large hospitals and healthcare providers have moderate bargaining power.
Bargaining power of suppliers: A few big companies dominate the supply market for key ingredients used in the PET-CT Scanner Device Market Challenges and Opportunities giving them significant bargaining power over buyers.
Threat of new substitutes: Threat from alternative treatment options like medication and surgeries is moderate as PET-CT Scanner Device Market offers less invasive treatment for knee osteoarthritis.
Competitive rivalry: The market is dominated by few big players.
Geographical Regions
North America accounts for the largest share of the PET-CT Scanner Device Market currently due to increasing prevalence of osteoarthritis in the region.
Asia Pacific region is poised to grow at the fastest pace during the forecast period owing to rising geriatric population, improving healthcare infrastructure and growing medical tourism in countries like China and India.
