(MENAFN- GlobeNewsWire - Nasdaq) Integration of Artificial Intelligence and Machine learning Algorithms Revolutionizing Features of PET/CT Systems
Rockville, MD, Dec. 16, 2024 (GLOBE NEWSWIRE) -- The global PET/CT system market is projected to reach US$ 5.27 billion by the end of 2034, up from US$ 2.92 billion in 2024, according to the latest industry analysis by Fact.MR. Continuous technical advancements in PET/CT systems are improving their performance metrics such as sensitivity, scan duration, and spatial resolutions, contributing to an increase in overall product sales.
Improved diagnostic accuracy results from better spatial resolution since it makes minute lesions and anatomical features more visible. One of the major developments in the medical industry, which creates new, lucrative opportunities, is the integration of artificial intelligence (AI) and machine learning algorithms into PET/CT systems. AI and machine learning techniques are improving picture integration, reconstruction, and analysis.
The system's enhanced sensitivity allows it to identify metabolic problems even at low levels of radiotracer absorption. Quicker scan times improve production, throughput, and patient comfort. In addition, the need for PET/CT systems is increasing due to the development of improved radiotracers that aid in the more precise targeting of certain biological processes.
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Key Takeaways from Market Study
Worldwide demand for PET/CT systems is projected to rise at a 6.1% CAGR from 2024 to 2034. North America is projected to hold 56.3% of the global market share by 2034. China is a leading player in the East Asia region and is poised to account for 45.8% market share in 2024. Based on product type, sales of high-range slice scanners are evaluated to reach US$ 3.11 billion by 2034. The East Asia market is forecasted to generate revenue worth US$ 635 million by 2034-end. The market in the United States is calculated to reach US$ 2.81 billion by 2034. The market in Japan is forecasted to expand at a CAGR of 7% through 2034. Application of PET/CT systems in oncology is forecasted to increase at a 6.1% CAGR through 2034.
“Other than oncology, utilization of PET/CT systems is increasing in various fields such as neurology and cardiology due to their ability to identify even minute lesions and clots accurately,” says a Fact.MR analyst.
Leading Players Driving Innovation in the PET/CT System Market:
Mediso Ltd.; Bruker Corporation; GE Healthcare; Siemens Healthineers; MR Solutions; General Electric Company; MinFound Medical Systems Co., Ltd.; Koninklijke Philips N.V.; SOFIE; United Imaging Healthcare; Canon, Inc.
Use of High-Range Slice Scanners Rising Significantly in Healthcare Facilities
High-range slice scanners (<64) are in great demand because they provide faster scanning speeds and higher image quality, which is essential for detailed imaging and rapid patient rotation in hectic clinical environments. Medical practitioners now find these scanners even more appealing due to improved image quality and diagnostic precision brought about by technical advancements. The price of these scanners is falling as a result of business initiatives and market competition, which raises their use in a variety of healthcare settings, including hospitals, diagnostic centers, and specialized clinics.
PET/CT System Industry News:
The first mobile digital PET/CT solution was introduced in Italy in February 2024 by United Imaging Healthcare Europe, a prominent producer of cutting-edge medical imaging and radiation technology. Ascension St. John in Tulsa announced the debut of the first fully digital portable PET/CT equipment in December 2023. The Biograph Vision.X system 510(k) was approved by the US FDA in November 2023 to use positron emission tomography/computed tomography (PET/CT) to offer a number of technical advantages. Kokilaben Dhirubhai Ambani Hospital in India announced in September 2023 that the state-of-the-art Biograph 64, Vision 600 PET-CT scanner would be installed. The hospital is now the first in the nation to offer the newest digital PET/CT imaging technology, which is a significant breakthrough in the fight against cancer because it enables the early detection of abnormalities and cancers.
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in its new offering, presents an unbiased analysis of the PET/CT system market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (low-range slice scanners, middle-range slice scanners, high-range slice scanners), isotope (fluorodeoxyglucose, 62 Cu ATSM, 18 F sodium fluoride, FMISO, gallium, thallium, others), modality (fixed scanners, mobile scanners), application (oncology, neurology, cardiology, others), and end user (hospitals, diagnostic centers, cancer research centers, specialty clinics), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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