Global Hybrid Imaging Market: PET-CT to Remain Most Valuable Product Segment through 2021

Published Date : Apr 10, 2017

Albany, New York, April 10, 2017: now features a report, titled “Global Hybrid Imaging Market 2017-2021.” The report includes a detailed description of the present scenario of the global market and its growth prospects over the forthcoming years. 

As per the findings of the report, the global hybrid imaging market is estimated to register a steady CAGR of more than 8% from 2017 to 2021. The spike in the adoption rate of computed tomography (CT) and positron emission tomography (PET) is providing momentum to the global market. Technological advancements in these hybrid imaging modalities are enabling precise measurement for better differentiation and measurement of tumors and improved data storage capabilities for tumor development tracking. Moreover, the rising incidence of chronic diseases is augmenting the market. 

On the flip side, the dearth of skilled physicians is inhibiting the growth of the market. This is further exacerbated by the hefty sums required to train personnel for hybrid imaging. Furthermore, the swelling skepticism among patients due to exposure to radiations in the process is keeping the market from realizing its utmost potential. 

In terms of product, the global hybrid imaging market is divided into PET-CT, PET-MRI, and SPECT-CT. The PET-CT segment will continue to command the lion’s share in the market throughout the forecast period. The growth of the segment can be attributed to the declining prices coupled with the availability of favorable reimbursement policies. Rapid technological advancements and rising awareness among end users are also contributing to the growth of the segment. 

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Based on application, the market is classified into cardiology, orthopedics, and oncology. Oncology is anticipated to exhibit a CAGR higher than any other segment during the forecast period. The demand for hybrid imaging is high in this segment due to the soaring need to comprehend and detect the location of molecules in the body as tracer decays. 

The key segments analyzed in the report on the basis of geography are Americas, Europe, the Middle East, and Africa (EMEA), and Asia Pacific. Americas will continue to dominate the market until 2021. The primary factor behind the growth of the region is the presence of favorable reimbursement policies, offered by the Centers for Medicare and Medicaid Services (CMS). 

The global hybrid imaging market features a large number of global and regional participants. The aggressive competition among these players in terms of product differentiation, pricing, technology development, and distribution partnerships renders the market highly competitive. The leading players in the market are GE Healthcare, Siemens Healthcare, Philips Healthcare, and Mediso. Other prominent companies operating in the global hybrid imaging market are AGFA Healthcare, Cardinal Health, Carestream Health, Cubresa, CMR Naviscan, Eczacibasi-Monrol Nuclear Products, Mylin Medical, IBA Molecular, Nordion, Sofie Biosciences, Piramal Imaging, Photo Diagnostic Systems, Roses Medical & Surgical Supply, RadioMedix, and Toshiba Medical Systems. 

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