Global Hybrid Positron Emission Tomography (PET) Systems Market – Industry Trends and Forecast to 2029

Global Hybrid Positron Emission Tomography (PET) Systems Market, Application (Oncology, Radiology, Neurology, Ophthalmology, Cardiology, Others), End- User (Hospitals, Diagnostic Imaging Centers, Others) – Industry Trends and Forecast to 2029.

Global Hybrid Positron Emission Tomography (PET) Systems Market Analysis and Size

In recent years, the hybrid positron emission tomography (PET) systems market is anticipated to grow rapidly during the forecast period. For decades, medical gadgets that utilize single imaging technology have been in use. While each imaging approach has its own merits, multimodal imaging, or a combination of multiple imaging techniques, has the potential to increase the physician's diagnostic accuracy and aid in better treatment outcomes. With the emergence of whole-body PET-CT and SPECT-CT, anatomical imaging in critical disease areas such as cardiovascular, neurodegenerative, and cancer disorders has been dominated by combining the power of two imaging technologies.

• Data Bridge Market Research analyses that the hybrid Positron emission tomography (PET) systems market was valued at USD 7.3 billion in 2021 and is expected to reach USD 10.89 billion by 2029, registering a CAGR of 6.20% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Hybrid Positron Emission Tomography (PET) Systems Market Definition

The fusing of two or more imaging technologies into a single new form is known as hybrid imaging. When compared to two single photos, the image created with the hybrid imaging system is more powerful in terms of accuracy. Hybrid imaging, in addition to portraying anatomy, allows for in vivo viewing of molecular processes inside broader anatomic material. Ultrasonography, magnetic resonance imaging (MRI), computed tomography (CT), and positron emission tomography (PET) are forms of hybrid imaging technologies (PET). Hybrid imaging systems have resulted from the combination of these technologies.

Report Scope and Market Segmentation

Hybrid Positron Emission Tomography (PET) Systems Market Dynamics

Drivers

• Increasing Prevalence of Chronic Diseases

The rising prevalence of chronic diseases such as cancer will propel the market’s growth rate during the forecast period of 2022-2029.

• Rise in the Number of Geriatric Population

The market is being propelled forward by the growing senior population, which is prone to such disorders, as well as the growing need for convenient portable gadgets.

Furthermore, the rising importance of combination analysis of anatomic and molecular data in diagnosis of diseases will influence the growth of hybrid positron emission tomography (PET) systems market. Along with this, increasing urbanization and rising level of disposable income are the driving factors accelerating the growth of the hybrid positron emission tomography (PET) systems market. Also, increasing expenditure on healthcare infrastructure and rising awareness about early diagnosis are the major market drivers that will further escalate the growth of hybrid Positron emission tomography (PET) systems market.

Opportunities

• Increase in Strategic Collaborations and New product launches      

Moreover, the market's growth is fueled by an increase in the number of new product launch and strategic collaboration of leading market players. This will provide beneficial opportunities for the hybrid Positron emission tomography (PET) systems market growth.

Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the hybrid Positron emission tomography (PET) systems market growth during the forecast period.

Restraints/Challenges Global Hybrid Positron Emission Tomography (PET) Systems Market

On the other hand, the high cost associated with hybrid positron emission tomography (PET) systems will obstruct the growth rate of market. The dearth of skilled professionals and rising issues linked with radiation exposure will challenge the hybrid Positron emission tomography (PET) systems market. Additionally, impact of COVID-19 on supply chain and strict regulatory issues will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This hybrid positron emission tomography (PET) systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hybrid positron emission tomography (PET) systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Hybrid Positron Emission Tomography (PET) Systems Market

COVID-19 has become a huge public health issue around the world. COVID-19's spread is far from ended, and many difficulties have raised public awareness, necessitating the development of novel procedures to aid in diagnosis and treatment. The effects of COVID-19 on the brain may be precisely assessed with positron emission tomography, according to research presented at the Society of Nuclear Medicine and Molecular Imaging (SNMMI) 2021 Annual Meeting (PET). Newly diagnosed COVID-19 patients who required inpatient treatment and PET brain scans were shown to have neuronal function deficiencies, which were accompanied by cognitive impairment, and in some cases, this impairment persisted for up to six months following diagnosis. Furthermore, PET holds a lot of promise for improving and managing COVID-19. Furthermore, molecular imaging researchers would be heavily involved in the development of COVID-19-targeted medicines, helping with ex vivo screening and in vivo validation.

Recent Development

• In June 2021, Canon Medical’s Digital PET/CT System had received the U.S. Food and Drug Administration (FDA) clearance for AI-based image reconstruction technology. The Cartesion Prime Digital PET/CT system now has 510(k) clearance for Canon Medical Systems USA Inc.'s Deep Learning Reconstruction (DLR) technology, which will be demonstrated at SNMMI 2021 for both PET and CT acquisitions. The Cartesion Prime with AiCE can assist doctors reliably and routinely produce high-quality images, paving the path for enhanced image quality, the capacity to better visualise lesions, and possibly less time spent in the scanner.

Global Hybrid Positron Emission Tomography (PET) Systems Market Scope

The hybrid positron emission tomography (PET) systems market is segmented on the basis of application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• Oncology
• Radiology
• Neurology
• Ophthalmology
• Cardiology
• Others

Based on application, hybrid positron emission tomography (PET) systems market is segmented into oncology, radiology, neurology, ophthalmology, cardiology, and others.

End- User

• Hospitals
• Diagnostic Imaging Centers
• Others

Hybrid positron emission tomography (PET) systems market has also been segmented based on the end user into hospitals, diagnostic imaging centers and others.

Hybrid Positron Emission Tomography (PET) Systems Market Regional Analysis/Insights

The hybrid Positron emission tomography (PET) systems market is analysed and market size insights and trends are provided by country, application and end-user as referenced above.

The countries covered in the hybrid Positron emission tomography (PET) systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the hybrid Positron emission tomography (PET) systems market because of the well-established healthcare infrastructure and increasing awareness about advanced treatment methods in this region. Additionally, presence of major key players will flourish the market’s growth rate in this region. 

Asia-Pacific is expected to grow during the forecast period due to rising use of advanced medical devices in radiology departments and development of healthcare sector this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The hybrid Positron emission tomography (PET) systems market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for hybrid Positron emission tomography (PET) systems market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the hybrid Positron emission tomography (PET) systems market. The data is available for historic period 2010-2020.

Competitive Landscape and Hybrid Positron Emission Tomography (PET) Systems Market Share Analysis

The Hybrid Positron emission tomography (PET) systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hybrid Positron emission tomography (PET) systems market.

Some of the major players operating in the hybrid Positron emission tomography (PET) systems market are:

• Koninklijke Philips N.V (Netherlands)
• CANON MEDICAL SYSTEMS CORPORATION (Japan)
• General Electric (US)
• Siemens Healthcare GmbH (Germany)
• FUJIFILM Holdings Corporation (Japan)
• Bruker (US)
• Hitachi Ltd. (Japan)
• PerkinElmer Inc. (US)
• Mediso Ltd. (Hungary)
• MILabs B.V. (Netherlands)
• Cubresa Inc. (Canada)
• Amber Diagnostics (US)
• Atlantis Wordwide (US)
• Neusoft Corporation (China)
• MinFound Medical Systems Co., Ltd (China)
• Abbott (US)
• Medtronic (Ireland)
• Agfa-Gevaert Group (Belgium)
• Oncovision (Valencia)
• CMR Naviscan (US)