MARKET OVERVIEW- UNITED STATES PET-CT SCANNER DEVICES MARKET
The PET-CT scanner market in the United States is anticipated to witness growth at a specific CAFR over the estimated time period. With the rising number of chronic illnesses like cardiology, oncology, and neurology in the United States, the country is anticipated to witness growing demand for diagnostics products, which has ultimately flourished the requirement for PET-CT scanner market demand in the U.S. Furthermore, with the exciting and rising cancer rate, it is anticipated to provide an ample new growth opportunity for the market. For instance an estimated number of new cancer cases and death in 2022 (in 2022, there will be an estimated 1.9 million new cancer diagnosed and 609,360 cancer death in the United States. Likewise, the burden of death and disability caused by neurological disorders is increasingly being recognized as global public health challenge and this factor has indeed boosted the requirement for PET-CT scanner devices market in U.S. Along with rising cases of cardiology, oncology and neurology the market is anticipated to find huge demand in upcoming years.
MARKET DRIVERS
The United States PET-CT scanner devices market is driven by factors such as the increasing prevalence of chronic diseases and a rising geriatric population, which have fuelled the market demand to a major extent. Besides, growing technological advancements, increasing cases of cardiology, oncology, and neurology diseases have further boosted the demand for the U.S. PET-CT scanner device market. Likewise, the increasing prevalence of chronic diseases has increased the market’s requirement for market products for precise diagnosis and screening, which is anticipated to provide ample new growth opportunities for the market.
MARKET OPPORTUNITIES
The market is expected to witness new growth avenues and opportunities with the rising adoption of technologically advanced PET-CT scanner devices. Also, new features, such as high imaging resolution and quality, have further flourish the requirements for emerging PET-CT scanner devices. Besides, PET-CT scanner devices market has become one of the most important part of medical device industry specifically for chronic illness like cardiology, oncology, and neurology where products provides a special benefits in procedure and support for diagnosis in hospitals, diagnostic centers, research institutes and supports to assist doctor, and specialist to plan their treatment. Hence, these factors are expected to create ample new growth opportunities for the market over the forecast period.
MARKET RESTRAINTS
The market has major restraining factors like the high cost of PET-CT scanner devices, which is expected to act as a hurdler for the market’s growth over the forecast period. Besides, inadequate availability of raw materials has hampered the market’s growth to a major extent, which is another factor restraining the market’s growth.
MARKET GROWTH CHALLENGES
The COVID-19 pandemic hampered the growth of the market to a major extent, which has created a major challenge for the market’s growth. Also, the risk associated with the use of PET-CT scanner devices products is expected to be a major hamper for the market’s growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the United States PET-CT scanner devices market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for various United States PET-CT scanner devices in various applications has led to the increasing demand for the market and is expected to witness growth at a CAGR from 2022-2028.
UNITED STATES PET-CT SCANNER DEVICES MARKET SEGMENTAL OVERVIEW
The United States PET-CT scanner device market comprises of different market segments like detector type, setting, application, and end user.
UNITED STATES PET-CT SCANNER DEVICES MARKET BY DETECTOR TYPE
By detector type, the United States PET-CT scanner devices includes key segments of:
- FluroDeoxyGlucose (FDG)
- 62CU ATSM
- FMISO
- Gallium
- Thallium
Fluorodeoxyglucose is anticipated to lead in the US PET-CT scanner market during the estimated time period. The segment is driven by factors such as the detector’s helping to diagnose heart diseases, cancer, gastrointestinal, endocrine, and neurological disorders. Besides, the detector can detect the early onset of disease before other imaging tests. Therefore, this factor is anticipated to provide ample of new growth opportunities for the market. Likewise, 62CU ATSM followed by FMISO and gallium. 62CU ATSM is driven by factors such as the rising number of different diseases, growing R&D activities for the development of novel therapy is boosting the growth of PET-CT scanner devices market.
UNITED STATES PET-CT SCANNER DEVICES MARKET BY SETTING
The United States PET-CT scanner devices market has setting present which includes
Fixed setting is expected to witness growth at a rapid pace over the forecast period. Different factors, such as rising demand for the PET-CT scanner device market owing to its higher reliability and enhanced performance. Besides, the fixed setting offers a better patient experience as compared to other devices thereby this factor has boosted the market to a major extent over the estimated time period. Likewise, mobile settings are likely to have growing demand during the projection period.
UNITED STATES PET-CT SCANNER DEVICES MARKET BY APPLICATION
The United States PET-CT scanner devices market has applications like:
- Cardiology
- Oncology
- Neurology
The oncology segment is likely to have growing demand for the market attributable to the growing burden of cancer cases. Rising new diagnosed cases of cancer have led to the requirement for PET-CT scanner to a major extent. Besides, in the United States in 2019, 1,752,735 new cancer cases were reported and 599,589 people died of cancer. Also, for every 100,000 people, 439 new cancer cases were reported, and 146 people died of cancer. This factor has ultimately uplifted the requirement for the PET-CT scanner to a major extent. Moreover, Cardiology is likely to hold the second position in the market owing to the rising prevalence of cancer and the incidence of cardiac disorders, has led to the growing demand for the market. Likewise, according to the CDC, Heart diseases is the leading cause of death for men, women and people of most racial and ethnic groups in the United States. One person dies every 36 seconds in the United States from cardiovascular disease. About 659,000 people in the United States die from heart disease every year-that’s 1 in every 4 deaths. Therefore, this factor is expected to drive the market’s growth to a major extent over the forecast period.
UNITED STATES PET-CT SCANNER DEVICES MARKET BY END USER
The United States PET-CT scanner devices market has end users like:
- Hospitals
- Diagnostic Centers
- Research Institutes
The hospital end user is anticipated to dominate the U.S. PET-CT scanner device market. The market in the U.S. is driven by factors such as the rising geriatric population, growing cancer cases, increasing prevalence of chronic diseases along with new diagnosed cases has fuelled the growing demand for market products in the hospital end user. Likewise, diagnostic centers have witnessed a new growth avenue in the U.S. PET-CT scanner device market with growing patient inflow in diagnostic centers for diagnosis and treatment. Therefore, the segment is likely to contribute to healthy growth in the market over the forecast period.
COVID-19 IMPACT ANALYSIS ON UNITED STATES PET-CT SCANNER DEVICES MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the United States PET-CT scanner device market. In addition, complete analysis of changes on the United States PET-CT scanner devices market expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. Furthermore, in the U.S., the pandemic has affected the PET-CT scanner market to major extent owing to declining product demand, sales, and revenue. Disruption in supply chain has majorly affected the market growth during the pandemic. Also, the temporary shutdown of production sites for the safety of employees and workforce has decreased the market growth to some extent.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the United States PET-CT scanner devices market is majorly focused on expanding the growth of the United States PET-CT scanner devices with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the United States PET-CT scanner devices has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumer’s requirements which is further contributing to healthy growth in the market.
The key players studied in market are
- General Electric Co.
- Hitachi, Ltd.
- Mediso Ltd.
- Koninklijke Philips N.V.
- PerkinElmer, Inc.
- Positron Corporation
- Siemens AG
- Shimadzu Corporation
- Toshiba Corporation
- Yangzhou Kindsway Biotech Co. Ltd.
RECENT DEVELOPMENT:
May 2021: GE Healthcare announced its acquisition of Zionexa, a leading innovator of in-vivo oncology and neurology biomarkers that help enable more personalized healthcare. GE Healthcare aims to develop and bring to market Zionexa’s pipeline biomarkers, as well as the recently FDA-approved PET imaging agent, Cerianna (fluoroestradiol F-18)
April 2021: Siemens AG, a Germany-based company, has completed the acquisition of Varian, a United States-based company. This acquisition helps Siemens AG strengthen its position as a holistic partner in healthcare.
