Pet CT Systems Market to Register a Growth Rate of CAGR 6.2% During the Forecast Period 2028

05/giu/2020 11:48:03 persistencemarketresearch Contatta l'autore

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New York City, United States -- With the outbreak of COVID-19 in worldwide and stipulated lockdown, the healthcare sector is witnessing an unprecedented slowdown as per EY-FICCI study titled, ‘COVID-19 impact assessment for healthcare sector and key financial measures recommendations for the sector’. The study is predicated on an assessment of healthcare players within the country to assess the economic impact of the COVID-19 pandemic and provides recommendations on the fiscal stimulus measures it needs within the coming months.

 

PET/CT systems are expected to continue to incorporate the highest clinical performance of PET as well as CT, and further evolve in parallel with these modalities for a long period. Constant developments in the radiopharmaceuticals used by PET/CT systems and increased government support for the research and development of these radiopharmaceuticals for medical imaging is expected to propel the PET/CT systems market during the forecast period.

According to the latest research by PMR, the global PET/CT systems market is expected to account for more than 3.0 billion US$ in terms of value, by the end of 2028. The PET/CT systems report also projects a significant growth potential, with an average Y-O-Y growth rate pegged at 6.2% through 2028.

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PET/CT Systems Market: Dynamics

High capital investments are expected to be recovered by increased medical efficacy and patient throughput, leading to a decrease in the effective cost per image. According to various research studies, excluding additional costs, the usage of PET/CT systems is cost-efficient as these systems help avoid additional invasive procedures or imaging examinations.

According to the president of Clinical Radiologists, Springfield, a new PET/CT systems costs around US$ 2 Million and a high-end CT system costs around US$ 1 Million. It costs around US$ 600,000 – US$ 700,000 less to buy Biograph mCT, as compared to purchasing 2 different high-end systems. Moreover, the device can be stored in a single room.

Furthermore, PET is quite a lengthy procedure that requires transmission as well as emission scans. The fusion image by PET/CT systems was projected to result in time saving for almost about 20-30 minutes per patient, which led to a 40% increase in patient output.

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According to a research study published by National Center for Biotechnology Information, the U.S., the metastases found in 16% of cancer patients, which was initially deemed resectable, led to cost savings amounting to US$ 1,066 per patient with the usage of PET/CT systems.

However, the short shelf-life associated with the radiopharmaceuticals used by PET/CT systems are expected to hinder the market growth for PET/CT systems. Radioactive isotopes possess their own disintegration pattern, which depends upon energy, matter, and rate of characteristic.

Shorter half-life elevates higher radiation within a short span, which is a major disadvantage for the transportation of radioisotopes. For instance, a major challenge in the usage of FDG is the extremely short half-life of 18F, which equals to approximately 2 hours.

In practice, it indicates that every 2 hours of the travel time between the cyclotrons that is responsible for producing the fluorodeoxyglucose to the PET-CT systems replicate double the costs of FDG, which are the only largest variable costs incurred by any PET-CT systems business.

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PET/CT Systems Market: Segmentation

PMR has segmented the global PET/CT systems market based on the product type, isotopes, modality, applications, end use and region. The PET/CT systems market by product type is segmented into low-range slice PET/CT systems (>20), middle range-slice PET/CT systems (21-64), high-range slice PET/CT systems (<64). By isotopes, the market for PET/CT systems is segmented into Flurodeoxyglucose, 18 F Sodium Fluoride, 62 Cu ATSM, FMISO, Thallium, Gallium, and others.

By modality, the PET/CT systems market is segmented into fixed PET/CT systems and mobile PET/CT systems. By application, the PET/CT systems market is segmented into oncology, cardiology, neurology, and others.

By end use, the PET/CT systems market is segmented into hospitals, diagnostic centers, cancer research centers, and specialty clinics. The PET/CT systems market has been analyzed across all the regions of North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa.

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