MARKET OVERVIEW- EUROPE PET-CT SCANNER DEVICES MARKET
The European region consists of different developed and developing countries like Germany, France, Italy and others. With rapid growth of countries globally, increasing investment in healthcare, and rising number of diseases like cancer, growing prevalence of cardiac patient has led the rising new growth demand for PET CT scanner devices market. Besides, effective means of diagnosis and increasing rates of serious infections are anticipated to drive the market growth to a major extent. The market’s cost effectiveness is boosting the market’s growth to a huge extent.
MARKET DRIVERS
The European PET-CT scanner devices market is driven by various factors such as growing cardiology, oncology, and neurology associated diseases, which have fuelled the demand for market products to a major extent. The different PET-CT scanner devices market products are widely adopted in these regions for the diagnosis of various types of cancer. Adding to that, the growing aging population, the prevalence of cardiac diseases, and awareness of market products and their effective features for safe application is fuelling the growth of the market. Besides, driving sales and distribution of PET-CT scanner devices is propelling the demand for the market in the region. Therefore, these factors are anticipated to provide ample new growth opportunities for the market over the forecast period.
MARKET OPPORTUNITIES
The European PET-CT scanner devices market is expected to find new growth opportunities with the rising number of cancer patients, growing adoption of technologically advanced products is anticipated to provide ample new growth opportunities for the market. Besides, rising usage and demand of PET-CT scanner devices in different countries in the region is the key factor which has uplifted the market during the estimated time period (2022-2028). Similarly, ongoing R&D in various diagnostic areas is expected to contribute to healthy growth in the market.
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 has hampered the growth of market to major extent which has created a major challenges for the market 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 European 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 European 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.
EUROPE PET-CT SCANNER DEVICES MARKET SEGMENTAL OVERVIEW
The European PET-CT scanner devices market comprises of different market segments like detector type, setting, application, end user and country.
EUROPE PET-CT SCANNER DEVICES MARKET BY DETECTOR TYPE
By detector type, the European PET-CT scanner devices includes key segment of:
- FluroDeoxyGlucose (FDG)
- 62CU ATSM
- FMISO
- Gallium
- Thallium
Fluorodeoxyglucose is likely to dominate the global PET-CT scanner devices market during the forecast period. The major advantage of FDG PET imaging is that it shows comparative performance in detecting primary carcinoma in other pathological types and anatomical locations. Besides, the scan is able to guide treatment strategy modifications to some extent. Besides, FDG is mostly used to detect metabolically active malignant lesions including lung cancer, colorectal cancer, lymphoma, melanoma, breast cancer, ovarian cancer, brain cancer and others. 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 research and development activities for the development of novel therapies, which are boosting the growth of the PET-CT scanner devices market.
EUROPE PET-CT SCANNER DEVICES MARKET BY SETTING
The Europe PET-CT scanner devices market has setting present which includes:
Fixed is anticipated to lead in the Europe PET-CT scanner devices market. The segment is driven by various factors, such as new innovative technological advancements features. Besides, the fixed PET-CT scanner helps in better diagnosis of cancerous cells, which is ultimately propelling the demand for the market. Also, mobile setting is expected to witness a positive growth rate over the forecast period.
EUROPE PET-CT SCANNER DEVICES MARKET BY APPLICATION
The European PET-CT scanner devices market has applications like:
- Cardiology
- Oncology
- Neurology
The oncology segment is anticipated to dominate the market during the forecast period. The segment is driven by various factors such as growing cancer cases, rising geriatric population, and the prevalence of different cancer, which has led to the rising requirement for the PET-CT scanner device market. Also, PET CT scanner helps to show a cancer, the spread, stage of cancer, and further supports for the best treatment for patients after the diagnosis. Similarly, Cardiology is likely to hold second the position in the market over the forecast period. Rising heart diseases, heart attacks, among others have boosted the demand for the market over the forecast period.
EUROPE PET-CT SCANNER DEVICES MARKET BY END USER
The European PET-CT scanner devices market has end users like:
- Hospitals
- Diagnostic Centers
- Research Institutes
The hospital end user is leading end user in Europe PET-CT scanner devices market. The segment is driven by various factors such as rising patient inflow in hospital for diagnosis along with treatment, growing number of hospitals providing diagnosis with PET CT scanner device market is expected to create ample of new growth opportunities for the market over the forecast period. Furthermore, diagnostic centers, followed by research institutes are also witnessing rapid demand for PET-CT scanner products. Hence, the end users are likely to flourish the demand and growth of PET-CT scanner products during the estimated time period.
EUROPE PET-CT SCANNER DEVICES MARKET BY GEOGRAPHY
The Europe PET-CT scanner devices market is studied for the following regions:
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of the Europe
Germany is anticipated to witness increasing demand for Europe PET-CT scanner devices owing to the presence of well-established market players. The country is driven by factors such as a growing aging population, prevalence of cancer, rising cases of cardiac diseases, and growing awareness of PET-CT scanner device market products in hospitals, which is anticipated to provide ample growth opportunities for the market. Also, growing sales and distribution of products are anticipated to provide ample new growth opportunities for the market over the forecast period. On the other hand, United Kingdom followed by France and Italy, is expected to witness new growth opportunities over the estimated time period.
COVID-19 IMPACT ANALYSIS ON EUROPE 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 Europe PET-CT scanner devices market. In addition, a complete analysis of changes in the European PET-CT scanner devices market expenditure, economic and international policies on the 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 European the COVID-19 has certainly affected the growth of PET CT scanner market. Due to strict regulations the COVID-19 pandemic has led to the shutdown of production which has ultimately affected the supply chain, product demand, sales and revenue ultimately dropping the growth of the PET-CT scanner device market in Europe.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of European PET-CT scanner devices market is majorly focused on expanding the growth of European PET-CT scanner devices with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the European PET-CT scanner devices market 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 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)
