MARKET OVERVIEW- ASIA PACIFIC PET-CT SCANNER DEVICES MARKET
The Asia-Pacific region is anticipated to find ample new growth opportunities over the forecast period. The increasing development of countries, the development of advanced healthcare facilities, investment in healthcare, rising cases of cancer, and the prevalence of cardiac patients has led to the rising new demand for the 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. The Asia-Pacific regions are anticipated to find ample new growth opportunities over the forecast period.
MARKET DRIVERS
The PET CT scanner devices market in Asia Pacific 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. Furthermore, the growing aging population, the prevalence of cardiac diseases, awareness of market products, and their effective features for safe applications are fuelling the growth of the market. Likewise, driving sales and distribution of PET-CT scanner devices is propelling the demand for market in the region. Therefore, these factors are anticipated to provide ample new growth opportunities for the market over the forecast period.
MARKET OPPORTUNITIES
Asia-Pacific is one of the major markets for PET CT Scanner device market which is anticipated to witness growth at the fastest pace over the estimated time period. With the presence of countries like China, India the market is likely to witness ample of new growth opportunities with rising burden of cancer, cardiac diseases are anticipated to witness increasing demand for the Asia Pacific PET-CT scanner devices market. Likewise, ongoing R&D in various diagnostic areas is expected to contribute to healthy growth in the market.
MARKET RESTRAINTS
The market has major restraining factor like high cost of PET-CT scanner devices is expected to acts as a hurdler for the market 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 some 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 Asia Pacific 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 Asia-Pacific PET-CT scanner devices in various applications has led to the increasing demand for market and is expected to witness growth at a CAGR from 2022-2028.
ASIA PACIFIC PET-CT SCANNER DEVICES MARKET SEGMENTAL OVERVIEW
The Asia-Pacific PET-CT scanner devices market comprises of different market segments like detector type, setting, application, end users, and country.
ASIA PACIFIC PET-CT SCANNER DEVICES MARKET BY DETECTOR TYPE
By detector type, the Asia Pacific PET-CT scanner devices includes key segments of:
- FluroDeoxyGlucose (FDG)
- 62CU ATSM
- FMISO
- Gallium
- Thallium
The fluorodeoxyglucose is likely to dominate the Asia Pacific PET-CT scanner devices market during the forecast period. The different factor accelerating the growth of segment is comparative performance in detecting primary carcinoma in other pathological types and anatomical locations. Likewise, the FDG in diagnosis is able to guide treatment strategy modifications to some extent. Besides, FDG helps to identify lung cancer, colorectal cancer, lymphoma, melanoma, breast cancer, ovarian cancer, brain cancer, and others. Therefore, this factor is anticipated to provide plenty of new growth opportunities for the market. Likewise, 62CU ATSM, followed by FMISO and gallium, is contributing to healthy growth in the market.
ASIA PACIFIC PET-CT SCANNER DEVICES MARKET BY SETTING
The Asia Pacific PET-CT scanner devices market has setting present which includes
Fixed setting isleading setting type in Asia Pacific PET-CT scanner market during estimated time period. The key factors boosting the growth of this segment are the rising requirements of schools, which have advanced performance along with results. This factor has boosted the growing demand for fixed settings in the APAC PET-CT scanner devices market. Besides, mobile setting is also anticipated to find ample of new growth opportunities with increase in efficiency of the result which assist the PET-CT scanner devices products. Therefore, this factor is anticipated to provide ample new growth opportunities over the forecast period.
ASIA PACIFIC PET-CT SCANNER DEVICES MARKET BY APPLICATION
The Asia Pacific PET-CT scanner devices market has application like
- Cardiology
- Oncology
- Neurology
In 2021, the oncology segment had gained a majority of market share and is expected to maintain its dominance over the estimated time period. The segment is driven by rapid growth in cancer rates; increasing emphasis on early diagnosis of cancer, technological development in cancer diagnosis has led to the growing demand for the market. Also, PET CT scanner helps to identify cancer, along with the spread, with particular stage of cancer, and further supports for the best treatment for patients after the diagnosis. On the other hand, cardiology is likely to hold the second 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.
ASIA PACIFIC PET-CT SCANNER DEVICES MARKET BY END USER
The Asia Pacific PET-CT scanner devices market has end users like:
- Hospitals
- Diagnostic Centers
- Research Institutes
The hospital end user is the leading end user in the Asia-Pacific PET-CT scanner devices market. The segment is driven by various factors such as the growing number of patients diagnosed with cancer, cardiac diseases, which has fuelled the demand for the Asia-Pacific PET-CT scanner devices market. The rise in infrastructural healthcare facilities’ end users is further fueling the growth of this segment to a major extent. Furthermore, diagnostic centers are likely to witness the highest pace of growth over the estimated time period. Hence, the end users are likely to fuel the demand and growth of PET-CT scanner products during the estimated time period.
ASIA PACIFIC PET-CT SCANNER DEVICES MARKET BY GEOGRAPHY
The Asia Pacific PET-CT scanner devices market is studied for the following region:
- China
- Japan
- India
- Rest of APAC
China is likely to hold a majority of the market share in 2021 and maintain its dominance over the estimated time period. The country’s market for PET-CT scanner devices is driven by factors such as the rising number of cancer patients, prevalence of cardiac patient. Cardiac diseases have led to the growing demand for the market. Furthermore, many major players like GE Healthcare and Cardinal Health have opened new manufacturing units and plants in various countries including China, Japan, and India, due to presence of a large customer base and rising demand of diagnostic and screening tests for many chronic diseases. Furthermore, the rise in the number of people suffering from different healthcare indications like heart disease, brain disorders and cancer is flourishing the market’s growth to a major extent. These factors are anticipated to provide ample new growth opportunities for the market over the estimated time period.
COVID-19 IMPACT ANALYSIS ON ASIA PACIFIC 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 Asia-Pacific PET-CT scanner devices market. In addition, a complete analysis of changes in the Asia-Pacific 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 in the market. Furthermore, in Asia-Pacific, COVID-19 has certainly affected the growth of the 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 Asia Pacific.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Asia-Pacific PET-CT scanner devices market is majorly focused on expanding the growth of Asia Pacific PET-CT scanner devices with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the Asia-Pacific 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 ulfil the required demand of consumers, 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)
