PET and SPECT Market Sees Worldwide Growth

Driven by the transparent reimbursement policies, new emerging economies, innovative applications such as Alzheimer's disease screening, and continually expanding oncology application segment, the global positron emission tomography (PET) market is estimated to reach approximately US$6.3 billion in 2010, according to a new market research.

A new report, published by MarketsandMarkets (Dallas, TX, USA), a business market research firm, analyzed the PET SPECT market by technologies and applications and examined the major market drivers, restraints, and opportunities for the PET and single photon emission tomography (SPECT) market in United States, Europe, the Middle East and Africa (EMEA), and Asia-Pacific.

Reimbursement plays a major role in the adoption of any medical imaging technology. The approval of PET scanning reimbursement in the United States by the Medicare and Medicaid for the Alzheimer's disease widened the opportunities for the major market participants. Currently, there are approximately 4.7 million Alzheimer's patients in the United States. PET enables the radiologist to have the early diagnosis of the Alzheimer disease among the patients. Therefore, this would further increase the demand of the PET scanners among the various healthcare centers, according to MarketsandMarkets research analysts.

Similarly, SPECT scanners have been on the frontline to bring about significant changes in the diagnostic imaging equipment landscape by opening up numerous lucrative opportunities in niche market such as neuroendocrine tumor imaging. Moreover, technologic advancements such as attenuation correction and image acquisition/reconstruction tools have enhanced SPECT end users' confidence in its diagnostic and prognostic capabilities. The global PET SPECT market is expected to grow from an estimated $6.5 billion in 2010 to $10.3 billion in 2015, at an estimated compound annual growth rate (CAGR) of 9.4% from 2010 to 2015. The PET segment is estimated to account for the largest share--i.e., 75%--of the overall PET SPECT installations at 3,691 units in 2010. This segment is expected to reach 6,390 units in 2015, at a CAGR of 11.6% for the same period.

The PET/CT segment accounted for the largest share--i.e., 97%--of the overall PET market at an estimated $6.1 billion in 2010. This segment is expected to reach $ 9.8 billion in 2015, at a CAGR of 9.8% for the period 2010 to 2015. Oncology and cardiology are the most significant applications of the PET SPECT market. Oncology accounts for approximately 90% of the PET market, whereas cardiology accounts for about 85% of SPECT application market. Neurologic application of PET and SPECT is a niche market and is dependent on the development of appropriate radionuclides and tracers, according to MarketsandMarkets research analysts.

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