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Positron emission tomography (PET) is a nuclear medicine imaging procedure that is used to monitor various internal body organs and tissues in order to identify certain disease conditions. It is performed by using a small amount of radioactive substance called tracers which move through blood circulation and thus helps radiologists in identifying the area of concerns precisely. PET imaging procedure provides a better insight about the working condition of organs and tissues, size, shape and position. PET is most widely used by oncologists in order to diagnose various types of cancer; neurologists in order to diagnose neurological disorders and cardiologists in order to diagnose cardiovascular diseases. Ongoing developments in this area are likely to begin its use in other specialties as well. This is also performed in order to assess the progress of the treatment of certain diseases. This procedure is different from magnetic resonance imaging (MRI) and computed tomography (CT) as they only show the tissue structure and blood flow to and from organs. This imaging procedure is also being used in combination with other diagnostic technologies such as CT with an aim to provide more precise information about various neurological, cardiovascular and cancer diseases.
 
The market for positron emission tomography is growing worldwide owing to increasing incidences of various cancers, neurological and cardiovascular diseases; growing use of PET in combination with other diagnostic technology such as CT and MRI, ongoing technological developments and expanding applications of PET procedure. Uninterrupted developments and discovery of new tracers (radionuclides) are also driving the PET imaging market. In addition, advantages offered by PET over other imaging technologies also drive the market growth. High cost associated with PET equipment has been identified as one of the major factors restraining the PET market growth. PET being highly capital intensive encourages the refurbished market for PET equipment.
 
Among all geographies, North America with the highest healthcare spending represents the largest market for PET. Reimbursement policy is playing a key role in driving the market growth in the region. Reimbursement coverage of PET scanning in the U.S. by the Medicaid and Medicare for the Alzheimer\'s disease offers potential opportunities to companies operating in the North American region. In Asia-Pacific region, increasing awareness among medical fraternity regarding the nuclear imaging technologies is likely to drive the market growth. Asia-Pacific being a home for more than half of the world population represents a large pool of patients suffering from various cancers, neurological and cardiovascular diseases. 
 
The presence of such large pool of patients attracts companies like GE Healthcare, Siemens Healthcare and Philips Healthcare to invest in the region. Boost in the medical tourism industry in the region has also been considered as one of the major factors driving the market growth. A large number of patients come from other countries for various treatment procedures that propel healthcare providers of this region to equip with technically advanced medical technologies.
 
The market for positron emission tomography is highly consolidated and is dominated by a few select numbers of players, namely, GE Healthcare, Philips Healthcare and Siemens Healthcare. These players collectively account for more than 80% of the market share. Positron Corporation, Segami Corporation, Spectrum Dynamics Ltd., Naviscan, Inc. and MedX Holdings Inc. are some other players operating in this market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Positron Emission Tomography