MARKET OVERVIEW- NORTH AMERICA PET-CT SCANNER DEVICES MARKET
North America is well known for its healthcare, and healthcare facilities. The presence of well-established manufacturer operating in the PET –CT scanner device production across North America region has flourish the market demand. Besides, the market in North America is driven by various factors such as increasing number of medical disease, rapid development in healthcare system, medical devices, healthcare technology has propel the market growth to major extent. Besides, PET-CT Scanner devices have gained momentum in the medical device industry. As the market products have various technologically advanced features, this is anticipated to provide ample new growth opportunities for the market. With the rising cases of cardiology, oncology and neurology the market is anticipated to find huge demand in upcoming years.
MARKET DRIVERS
The North American PET-CT scanner devices market is driven by the increasing prevalence of chronic diseases, which has increased its requirement for the market’s products for precise diagnosis and screening. The growing population with cardiology, oncology, and neurology associated diseases has indeed accelerated the requirement for market products, which is further providing new growth opportunities. Hence, with the rising geriatric population, technological advancements are expected to further drive the market demand. In addition, the rapid technological development and the rise in the number of healthcare companies have created ample new growth opportunities for the market.
MARKET OPPORTUNITIES
The market is expected to have new opportunities with increasing adoption of technological advancements in PET-CT scanner devices products, which is anticipated to provide ample new growth opportunities in the market during the forecast period. Also, new features, such as high imaging resolution and quality, have further augmented the requirements for emerging PET-CT scanner devices. 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 North American 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 North American 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.
NORTH AMERICA PET-CT SCANNER DEVICES MARKET SEGMENTAL OVERVIEW
The North American PET-CT scanner devices market comprises of different market segments like detector type, setting, application, end user and country.
NORTH AMERICA PET-CT SCANNER DEVICES MARKET BY DETECTOR TYPE
By detector type, the North American PET-CT scanner devices includes key segments of:
- FluroDeoxyGlucose (FDG)
- 62CU ATSM
- FMISO
- Gallium
- Thallium
Fluorodeoxyglucose is likely to dominate the global PET-CT scanner devices market during the forecast period. PET-CT scanner is ideally based on the measurement of positron emission from radiolabelled tracer molecules. This detector usually helps to diagnose heart diseases, cancer, gastrointestinal, endocrine and neurological disorders. Therefore, this factor is anticipated to provide ample of new growth opportunities for the market. Likewise, 62CU ATSM is followed by FMISO and gallium. 62CU ATSM is driven by factors such as research and development activities for the development of novel therapies, which are boosting the growth of the PET-CT scanner devices market.
NORTH AMERICA PET-CT SCANNER DEVICES MARKET BY SETTING
The North American PET-CT scanner device market has settings present which includes:
Fixed is predictable to lead in the North America PET-CT scanner devices market. The fixed setting is driven by factors such as a surge in technological advancement aiding in better imaging of cancerous cells. Besides, the fixed setting of the PET- CT scanner helps in the better diagnosis of cancerous cells, which is fuelling the demand for fixed type of PET-CT scanner devices market. Likewise, mobile settings are anticipated to witness a positive growth rate over the estimated time period.
NORTH AMERICA PET-CT SCANNER DEVICES MARKET BY APPLICATION
The North American PET-CT scanner devices market has application like:
- Cardiology
- Oncology
- Neurology
The oncology segment is anticipated to dominate the market during the forecast period. The major factors propelling the growth of the oncology segment is the increasing prevalence of chronic diseases and rising geriatric population. Cancer cases along with new diagnosed cases has led to the growing demand for the North America PET-CT scanner devices market. These is likely to generate more demand for the global PET-CT scanner devices market. Furthermore, Cardiology is likely to hold the second position in the market attributing to rising prevalence and incidence of cardiac disorders, has led to the growing demand for the market. Likewise, according to 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.
NORTH AMERICA PET-CT SCANNER DEVICES MARKET BY END USER
The North American PET-CT scanner devices market has end user like:
- Hospitals
- Diagnostic Centers
- Research Institutes
The hospital end user is anticipated to dominate the NA PET-CT scanner devices market during the estimated time period. The market in hospitals is driven by various factors, such as the fact that most hospitals have a requirement for healthcare devices, which increases productivity, as well as performance which therefore has expanded the North American region market growth. Likewise, with the aging population, and demand for PET CT scanners for diagnosis of cancer, HIV, cardiac arrest, the market growth has accelerated to major extent. Furthermore, diagnostic centers followed by research institutes is also witnessing rapid demand for PET-CT scanner products. Therefore, the end users in NA are likely to flourish the demand and growth of PET-CT scanner products.
NORTH AMERICA PET-CT SCANNER DEVICES MARKET BY GEOGRAPHY
The North America PET-CT scanner devices market is studied for the following regions:
- United States
- Canada
- Mexico
The United States is anticipated to witness increasing demand for North American PET-CT scanner devices owing to the presence of well-established market players. Besides, rise in demand for market products is due to the growing patient of cancer, HIV, cardiac arrest which has led to the rising demand for the market. Besides, the growing emphasis on effective and early disease diagnosis of patients is anticipated to provide ample new growth opportunities for the market over the estimated time period. Likewise, according to the CDC, in February 2018 around 22,000 men and 9,000 women suffer from liver cancer, and around 16,000 men and 8,000 women die because of liver cancer, every year in the US. This factor is anticipated to provide ample of new growth opportunities for the market over the estimated time period. On the other hand, Canada followed by Mexico.
COVID-19 IMPACT ANALYSIS ON NORTH AMERICA 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 North America PET-CT scanner devices market. In addition, complete analysis of changes on the North America 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. In North America, COVID-19 has moderately affected the PET-CT scanner market to some extent with declining product demand, sales, and revenue. Disruption in the supply chain has majorly affected the market growth during COVID-19. Also, shutdown of product production for the safety of employees and workforce had declined the revenue of manufacturer to some extent.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the North American PET-CT scanner devices market is majorly focused on expanding the growth of North American PET-CT scanner devices with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in North America PET-CT scanner devices has led 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 completes acquisition of Varian, a United States based company. This acquisition helps Siemens AG strengthening its position as a holistic partner in healthcare.
