PET-CT Scanner Device Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[221+ Pages Report] According to Facts & Factors, the global PET-CT scanner device market size was around USD 2.46 billion in 2023 and is predicted to grow to around USD 4.37 billion by 2032, with a compound annual growth rate (CAGR) of roughly 6.6% between 2024 and 2032.

Market Overview

PET-CT scanner device is an imaging device that amalgamates PET and CT technologies. PET (Positron Emission Tomography) offers exhaustive pictures of metabolic activities in the human body, while computed CT (Computed Tomography) provides comprehensive images of internal tissues and organs. The PET-CT scanner device market is expected to witness remarkable growth in the coming years owing to the rising cancer cases on a global scale, the rising elderly population, and growing awareness and global healthcare infrastructure.

Cancer is among the leading causes of mortality. Increasing cases of cancer are notably fueling the need for PET-CT scans. The senior population is highly prone to developing chronic illnesses, including heart conditions and cancer. PET-CT scanners are prominently used to monitor and detect these diseases, mainly for early detection.

Furthermore, the growing awareness of the benefits of early disease detection and enhancements, particularly in emerging regions, encourages the adoption of PET-CT.

Nevertheless, a few factors restraining the growth of the global market are significantly priced PET-CT scanners and the low availability of an expert workforce. The high cost of PET-CT scanners is among the leading barriers to market growth. This also includes operational and maintenance costs along with its initial purchase. Hence, the high cost of these devices restricts their adoption in low-income economies.

In addition, the operation of these scanners needs radiologists and expert labor. The emerging economies, specifically, are facing a lack of expert professionals, thus hindering the global market growth.

Yet, technological upgrades, innovations, and expansion in emerging nations will positively impact the global market. Constant developments like hybrid imaging systems blending PET-MRI offer key opportunities for industry growth.

Also, with the progress in developing countries, the need for improved technologies will rise notably. Portable and affordable technologies like PET-CT scanners might boost adoption in these areas.

Key Insights:

• As per the analysis shared by our research analyst, the global PET-CT scanner device market is estimated to grow annually at a CAGR of around 6.6% over the forecast period (2024-2032)
• In terms of revenue, the global PET-CT scanner device market size was valued at around USD 2.46 billion in 2023 and is projected to reach USD 4.37 billion by 2032.
• The PET-CT scanner device market is projected to grow significantly due to technological improvements in PET-CT scanner technology, growing awareness, and supportive government initiatives in developed economies.
• Based on type, the stationary scanners segment is expected to lead the market, while the portable scanners/mobile scanners segment is expected to register considerable growth.
• Based on slice count, the medium slice scanner (64 slices) segment is the dominating segment among others. In comparison, the high slice scanner (>64 slices) segment is projected to witness sizeable revenue over the forecast period.
• Based on detector type, the Fluorodeoxyglucose (FDG) segment is the ruling domain, while the 18 F sodium fluoride segment is projected to witness major growth.
• Based on application, the oncology segment is the leading segment, while the cardiology segment is projected to witness substantial growth over the forecast period.
• Based on the service provider, the hospitals segment is expected to lead the market in the future compared to the diagnostic centers segment.
• Based on region, North America is projected to dominate the global market during the estimated period, followed by Asia Pacific.

Growth Drivers

• Technological improvements in PET-CT imaging fuel the PET-CT scanner device market growth

Improvements in imaging technology have majorly enhanced the scanning time, resolution, and complete diagnostic performance and functioning of these PET-CT scanners. The growth of HD systems reduced radiation exposure, and faster scanning time has increased the efficiency and accessibility to healthcare providers.

The worldwide PET-CT market was estimated at $2.8 billion in 2020 and is predicted to reach $4.4 billion by 2030, progressing at 4.6% CAGR by 2030. The growing technological improvements and innovations impact this industry's growth.

In 2024, GE Healthcare launched an advanced Omni Legend 32 digital PET/CT scanner device. This technologically advanced scanner is designed to offer more explicit images, decrease radiation dosage, and lessen scanning time, thus maintaining diagnostic quality and enhancing patient comfort. This improvement is projected to advance the diagnostic potential for numerous conditions, especially in oncology.

• Elevated adoption of hybrid imaging technologies substantially propels the market growth

The incorporation of PET with several imaging modalities like Magnetic resonance imaging is gaining traction owing to the ability to offer anatomical and functional information in just one scan. This hybrid approach allows more precise diagnoses, especially for complicated oncological, neurological, and cardiovascular disorders, thus fueling the PET-CT scanner device industry.

The worldwide PET/MRI industry is anticipated to progress at a 12.4% CAGR by 2020, with the emerging hybrid technology accompanying the growth of PET-CT in numerous healthcare applications.

Novartis Advanced Accelerator Applications was acquired by Siemens Healthineers in 2024, improving its PET/MRI potential. This acquirement is projected to widen its diagnostic imaging range, mainly in Europe. This will be made possible by incorporating enhanced imaging technologies for the advanced monitoring and diagnosis of diseases.

Restraints

• Health concerns and radiation exposure negatively impact the PET-CT scanner device market growth

Although several advancements are taking place to lessen radiation exposure, PET-CT scans still comprise ionizing radiation. This increases concerns, especially for individuals who require scans for prolonged periods. The possible long-term risks related to constant exposure to radiation may prevent many healthcare providers from using these scans, mainly in non-oncological applications.

The European Society of Radiology initiated awareness activities regarding the risks associated with extreme imaging. This influenced many healthcare providers to use radiation-sparing techniques, mainly in pediatric imaging. This demand for highly effective radiation dosage management systems is burgeoning, with the rising concerns for cancer risk increasing due to PET-CT use.

Opportunities

• Widening healthcare access in developing markets positively impacts the PET-CT scanner device market progress

The growing healthcare infrastructure spending in developing markets like China, India, and key parts of Africa denotes a massive opportunity for the global PET-CT scanner device market.

As spending power increases and healthcare systems enhance, the need for improved medical imaging solutions like PET-CT rises in these economies. Growing access to healthcare and cutting-edge imaging techniques are the leading drivers for the rise of the global market.

The Asia Pacific market is anticipated to progress with a 6.5% CAGR by 2030. Mainly, nations like India and China are anticipated to experience notable growth owing to the growing prevalence of chronic illnesses and rising investments in medical infrastructure.

Challenges

• Reimbursement and regulatory barriers limit the growth of the PET-CT scanner device market

Regulatory approval procedures for the novel PET-CT systems may be expensive and time-consuming. In most economies, the reimbursement for these scans is challenging.

In other nations, government and health insurance providers partially cover the price of PET-CT scans, thus increasing unaffordability issues for most patients.

In the U.S., the CMS or Centers for Medicare & Medicaid Services has restricted the reimbursement of PET-CT scans for non-oncological applications. This has limited the broader use of the PET-CT scanning device in multiple clinical settings.

Also, in Europe, reimbursement regulations are still progressing, and most health systems only reimburse PET-CT for specific approved indications like neurological diseases and oncology illnesses.

Report Scope

Segmentation Analysis

The global PET-CT scanner device market is segmented based on type, slice count, detector type, application, service provider, and region.

Based on type, the global PET-CT scanner device industry is divided into stationary scanners and portable scanners/mobile scanners. In 2023, the stationary scanners segment registered a notable share of the PET-CT scanner device market owing to its high performance, large patient throughput, and enhanced image resolution. These systems are widely used in large facilities like specialized imaging centers and hospitals where the volume of patients is high, and the need for enhanced imaging is essential. This is mainly for the oncology domain, which is leading compared to others. Stationary scanners are projected to dominate over the estimated period owing to expanding demand by diagnostic imaging centers and fully-furnished hospitals.

Based on application, the global PET-CT scanner device industry is segmented into oncology, neurology, cardiology, and others. The oncology segment held a significant market share, owing to its broader use in the oncology segment. In oncology, PET-CT scanners are largely used to detect, stage, monitor, and manage cancer. It is instrumental in detecting tumors, examining their speading, and inspecting their metabolic activity. The oncology segment will lead over the estimated period, owing to the rising cancer cases on a global scale and the vital role of PET-CT scans in exhaustive cancer treatment.

Based on service provider, the global market is segmented as hospitals, diagnostic centers, and research institutes. The hospital segment is projected to lead the market over the estimated period. Hospitals, mainly the quaternary and tertiary care centers, are the leading users of PET-CT scanning devices, owing to the broad range of treatment and diagnostic needs they offer. This comprises cardiology, oncology, neurology, and other essential care services.

Regional Analysis

• North America to witness significant growth over the forecast period

North America registered a remarkable share of the global PET-CT scanner device market in 2023 and is expected to dominate over the forecast years. The key reasons fueling the regional growth include technologically improved healthcare infrastructure, growing demand for cardiology and oncology domains, and better insurance coverage.

North America, mainly the U.S., has relatively well-developed healthcare systems globally. The country brags about its cutting-edge technologies, which are broadly used in diagnostic centers and hospitals. PET-CT scanners are essential in monitoring and detecting heart diseases and cancers early.

With the rising prevalence and growing elderly population, the demand for enhanced technologies, including PET-CT scanners, is expanding. Furthermore, exhaustive insurance coverage and reimbursement guidelines for PET-CT operations in the region propel the market growth. This increases the accessibility of these technologies to broader healthcare providers and patients.

Asia Pacific is projected to emerge as the second-leading region owing to the rising healthcare infrastructure in the key nations, growing heart disorders and cancer cases, and emphasis on early detection. Nations like India, China, and Japan spend remarkably on enhancing their healthcare infrastructure. The regions witness an elevated number of diagnostic centers and hospitals with superior medical instruments and devices.

Asia Pacific also faces a rise in chronic illnesses, including heart disease and cancer, thus propelling the need for improved diagnostic tools like PET-CT scanning devices. The regional growth is also impacted by notable interest in personalized medicine and elevating demand for early detection.

Competitive Analysis

The global PET-CT scanner device market is led by players like:

• Aimmune Therapeutics
• DBV Technologies
• Teva Pharmaceuticals
• Sanofi
• Novartis
• Regeneron Pharmaceuticals
• MedImmune (AstraZeneca)
• Stallergenes Greer
• Kendle International
• Bausch Health
• Amgen
• Eli Lilly and Company
• Merck & Co.
• Purdue Pharma
• Bayer Healthcare

Key Market Trends

• Mobile and Portable PET-CT Devices:

The need for mobile and portable PET-CT scanning devices is growing, mainly in rural and remote settings. These areas demand more accessibility for improved diagnostic services. These systems are flexible, smaller, and cost-effective, thus fueling the global market growth.

• Integration with AI:

Incorporating machine learning and artificial intelligence with PET-CT scanning devices enhances the scanning speed, quality, and diagnostic accuracy. Artificial intelligence is improving automated image understanding and supporting the early detection of diseases.

The global PET-CT scanner device market is segmented as follows:

By Type Segment Analysis

• Stationary Scanners
• Portable Scanners/Mobile Scanners

By Slice Count Segment Analysis

• Low Slice Scanner (<64 Slices)
• Medium Slice Scanner (64 Slices)
• High Slice Scanner (>64 Slices)

By Detector Type Segment Analysis

• Flurodeoxyglucose (FDG)
• 62Cu ATSM
• 18 F Sodium Fluoride
• FMISO
• Gallium
• Thallium
• Others

By Application Segment Analysis

• Oncology
• Neurology
• Cardiology
• Others

By Service Provider Segment Analysis

• Hospitals
• Diagnostic Centers
• Research Institutes

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America