Market Overview:
The global PET/MRI system market is expected to grow at a CAGR of 10.5% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of cancer, growing demand for advanced diagnostic and treatment procedures, and rising awareness about PET/MRI systems. Based on type, the global PET/MRI system market is segmented into fully integrated systems, separate devices, and pulse oximetry screening systems. The fully integrated systems segment is expected to account for the largest share of the global PET/MRI system market in 2018. This can be attributed to factors such as technological advancements that have led to miniaturization of components and integration of multiple functions into a single device, growing demand for advanced diagnostic and treatment procedures, and rising awareness about these systems among healthcare professionals. Based on application, the global PET/MRI system market is segmented into oncology applications; cardiology applications; neurology applications; other applications (including musculoskeletal disorders diagnosis).
Product Definition:
A PET/MRI system is a medical imaging technology that combines the features of positron emission tomography (PET) and magnetic resonance imaging (MRI). The combination of these two technologies produces images with high spatial resolution and good contrast between different types of tissue. This makes PET/MRI an especially useful tool for diagnosing diseases such as cancer.
Fully Integrated:
Fully integrated systems are those in which all the components are built into one system. The fully integrated systems have a high usage rate and growth factor as compared to the semi-integrated and standalone systems. Fully integrated imaging devices include PET/MRI, CT, X-ray, ultrasound and other medical imaging modalities.
Separate Devices:
A separate device is any equipment or a set of instructions that can be used by an individual to perform a procedure. Separate devices are not required to be in communication with each other and can be used remotely.
The global PET/MRI system market size was valued at USD 4,65 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period.
Application Insights:
The oncology segment dominated the global market in 2017. This can be attributed to an increase in cancer prevalence coupled with a rise in the adoption of PET/MRI for early detection and treatment. For instance, according to data published by WHO, around 1 in 6 women and 1 in 5 men are estimated to develop cancer during their lifetime. Moreover, as per estimates from the American Institute for Cancer Research (AICR), around 220-250 new cases of brain & spinal cord tumors are expected to be diagnosed every year between 2016 - 2020 across the world. These factors indicate that there is a huge unmet clinical need for imaging tools such as PET scanners that can help detect pre-malignant cells at an early stage so that effective treatment could be initiated before any metastasis occurs.
PET/MRI has emerged as one of the most useful diagnostic tools not only for oncology but also cardiology, neurology.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to presence of well-established healthcare facilities, availability of advanced products and high per capita expenditure on healthcare. Moreover, increasing prevalence of chronic diseases such as cancer, cardiac disorders & Parkinson’s disease is also expected to drive the regional demand for PET/MRI systems during the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to rising geriatric population base and growing awareness about early diagnosis & treatment methods for various diseases such as cancer and cardiovascular disorders. In addition, rapidly developing medical tourism industry in emerging countries such as India & China are further expected to boost demand for PET/MRI systems in Asia Pacific region during the forecast period.
Growth Factors:
- Increasing demand for minimally invasive surgeries: The global market for minimally invasive surgeries is expected to grow at a CAGR of 6.5% from 2016 to 2021. This is primarily due to the advantages offered by these surgeries over traditional open surgery, such as shorter hospital stays, reduced pain and blood loss, and faster recovery times. PET/MRI systems offer similar benefits and are thus likely to see increasing demand in the coming years.
- Growing prevalence of cancer: According to the World Health Organization (WHO), cancer is one of the leading causes of death worldwide, accounting for 8 million deaths per year. The number of cases is expected to increase significantly in the next few decades due to population growth and aging populations. This will create a large pool of patients who will require diagnosis and treatment using PET/MRI systems.
Scope Of The Report
Report Attributes
Report Details
Report Title
PET/MRI System Market Research Report
By Type
Fully Integrated, Separate Devices, Pulse Oximetry Screening
By Application
Oncology, Cardiology, Neurology, Other
By Companies
Siemens, Philips, GE Healthcare
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global PET/MRI System Market Report Segments:
The global PET/MRI System market is segmented on the basis of:
Types
Fully Integrated, Separate Devices, Pulse Oximetry Screening
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oncology, Cardiology, Neurology, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Siemens
- Philips
- GE Healthcare
Highlights of The PET/MRI System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fully Integrated
- Separate Devices
- Pulse Oximetry Screening
- By Application:
- Oncology
- Cardiology
- Neurology
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the PET/MRI System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
PET/MRI system is a medical imaging technology that uses positron emission tomography (PET) and magnetic resonance imaging (MRI). PET scans use small amounts of radioactive tracers to create images of the body's tissues. MRI scans use strong magnets and radio waves to create detailed images of the body's internal organs.
Some of the major players in the pet/mri system market are Siemens, Philips, GE Healthcare.
The pet/mri system market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 PET/MRI System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 PET/MRI System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 PET/MRI System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the PET/MRI System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global PET/MRI System Market Size & Forecast, 2020-2028
4.5.1 PET/MRI System Market Size and Y-o-Y Growth
4.5.2 PET/MRI System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Fully Integrated
5.2.2 Separate Devices
5.2.3 Pulse Oximetry Screening
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Oncology
6.2.2 Cardiology
6.2.3 Neurology
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global PET/MRI System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 PET/MRI System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Fully Integrated
9.6.2 Separate Devices
9.6.3 Pulse Oximetry Screening
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Oncology
9.10.2 Cardiology
9.10.3 Neurology
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Fully Integrated
10.6.2 Separate Devices
10.6.3 Pulse Oximetry Screening
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Oncology
10.10.2 Cardiology
10.10.3 Neurology
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Fully Integrated
11.6.2 Separate Devices
11.6.3 Pulse Oximetry Screening
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Oncology
11.10.2 Cardiology
11.10.3 Neurology
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Fully Integrated
12.6.2 Separate Devices
12.6.3 Pulse Oximetry Screening
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Oncology
12.10.2 Cardiology
12.10.3 Neurology
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Fully Integrated
13.6.2 Separate Devices
13.6.3 Pulse Oximetry Screening
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Oncology
13.10.2 Cardiology
13.10.3 Neurology
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 PET/MRI System Market: Competitive Dashboard
14.2 Global PET/MRI System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Siemens
14.3.2 Philips
14.3.3 GE Healthcare
