The U.S. PET and PET/CT markets produced revenue of $496.6 million in 2004, according to a new report from market research firm Frost & Sullivan. The Palo Alto, CA-based company is projecting market revenues to reach $725.1 million in 2011.
The sector is being driven by PET/CT technology, with standalone PET sales experiencing a downswing, according to the firm. In addition, the availability of lower-cost standalone PET systems sold on the used equipment market is further deteriorating the market for new standalone PET systems, Frost & Sullivan said.
Somewhat paradoxically, PET/CT is still facing lower-than-optimal procedure volumes, which are beginning to restrain new purchases, according to the firm. As a result, Frost & Sullivan is projecting market growth to remain relatively flat.
Healthcare facilities are sharing service arrangements to overcome the expenses involved in the purchase of PET/CT scanners, according to the company. Until sites accomplish enough procedure volume, shared service agreements are an economical option, Frost & Sullivan said.
By AuntMinnie.com staff writers
April 25, 2005
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