Latin America PET Scanners Market

The size of the Latin America PET Scanners Market was worth USD 101.77 million in 2022 and is estimated to be growing at a CAGR of 2.78%, to reach USD 116.73 million by 2027. 

PET scanner producers are benefiting from the growing acceptance of hybrid imaging techniques and reimbursements granted by the government in this country. Clinical trials, such as radiation planning using fluorodeoxyglucose positron emission tomography (FDG-PET), are also projected to impact the Latin American market in the future years substantially. In comparison to traditional imaging techniques, PET scanners are frequently used because they can visualize and quantify tumor characteristics on a molecular level. Correction images exposure was introduced into PET systems.

PET scanners are also quicker, which helps to eliminate motion artifacts. Because of the unique combination of functional information received with PET, PET/CT systems have increased usage since their introduction into clinical practice. These scanners use a nuclear medicine technique to determine the metabolic activity of body tissues and cells. It's a mix of nuclear medicine and biochemistry. They're most commonly used in individuals with heart or brain diseases, as well as cancer.

 Different modalities of therapeutic procedures, such as chemotherapy, surgery, and radiation therapy, have evolved in cancer management. PET/CT systems are widely utilized to provide complex images for further assessing the tumor's genesis and metastatic disease. In addition, they are widely employed to provide reliable evaluation and diagnosis of tumor growth. Over the forecast period, this will convert into profitable sales prospects for manufacturers. In addition, rising public awareness of the benefits of radiotherapy and radiation oncology, along with a growing preference for non-invasive procedures, is expected to drive demand in this region.

Continued reimbursement reductions are projected to stifle market expansion. Furthermore, the short half-life of radiopharmaceuticals is projected to limit the market growth. For example, fluoro-deoxy glucose (FDG), which uses fluorine-18 as a tracer, is the most often utilized radiotracer in PET imaging. However, the half-life of the radiotracer is just less than two hours. As a result, its diagnostic utility is restricted. These issues could have a detrimental impact on market growth.

This research report on the Latin America PET Scanners Market has been segmented and sub-segmented into the following categories:

By Application:

• Oncology 
• Neurology               
• Cardiology              
• Other Applications

By Product Type:

• Partial Ring PET Scanners 
• Full Ring PET Scanners

By Detector Type:

• Gadolinium Oxyorthosilicate           
• Lutetium Fine Silicate         
• Bismuth Germanium Oxide             
• Lutetium Oxyorthosilicate               
• Lutetium Yttrium Orthosilicate       

By End Users:

• Diagnostic Centres               
• Hospitals  
• PET Centres            
• Research Institutes      

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Increased diagnostic applications in various diseases, including cancer and cardiovascular diseases, government backing, a change from standalone to hybrid modalities, and an increase in the frequency of cancer and cardiac disorders in the region are driving the expansion of the Latin American market. Inpatient management processes like diagnosis, staging, therapy delivery, and follow-ups can benefit from nuclear imaging. Imaging has traditionally served primarily as a diagnostic tool; however, it is increasingly used for interventional diagnostics and therapeutic purposes. The market is likely to grow in the next few years as PET and X-ray transmission computed tomography (CT) scans become more widely used. This advanced technology cuts acquisition time, enables precise attenuation correction and allows for fusion imaging, all of which contribute to high diagnostic sensitivity and specificity. Furthermore, by defining prognostic and treatment monitoring capabilities of the functional and metabolic information provided by conventional nuclear imaging techniques, the combination of PET and CT aids in improved disease staging.

KEY MARKET PLAYERS:

Companies playing a leading role in the Latin American PET scanners market profiled in this report are Positron Corporation, Mediso Ltd., Siemens AG, Hitachi, Ltd., General Electric Co., Toshiba Corporation, Koninklijke Philips N.V., and Yangzhou Kindsway Biotech Co. Ltd., among others.