Saudi Arabia PET Scan Market Analysis

Saudi Arabia PET Scan Market Executive Summary

The Saudi Arabia PET Scan market is at around $33 Mn in 2023 and is projected to reach $52.6 Mn in 2030, exhibiting a CAGR of 6.9% during the forecast period.

PET imaging (Positron Emission Tomography) is a diagnostic imaging tool used in Nuclear Medicine to obtain clinical information from the patient. An extension of this imaging modality is the PET-CT hybrid. The system consists of two scanning machines: PET imaging and an X-ray computed tomography (CT) scanner that are combined in a PET-CT scan to provide detailed information on the anatomy and physiology of the body. It is usually performed in a single scanning session and is an established technology which is widespread and accepted globally. A CT scan is a diagnostic imaging procedure that uses a combination of X-rays and computer technology to produce images of the inside of the body. A PET-CT scan is a hybrid imaging method that combines the anatomical and functional imaging of CT with PET to produce finely detailed, high-resolution pictures for use in the diagnosis and treatment of a variety of medical disorders. Another frequently used integrated diagnostic imaging method is PET-MRI scan. MRI is magnetic resonance imaging which uses strong magnetic fields and radio waves to produce finely detailed images of the brain and other soft tissues like muscles and ligaments. PET-MRI scan provides superior soft tissue contrast compared to CT scans in PET-CT which allows for more precise anatomical visualization alongside the functional data from the PET scan. Moreover, PET-MRI offers sharper images than CT scans, particularly in regions close to bones, which can introduce artifacts because of bone density. When identifying disorders of the pelvis, spine, or skull, this can be extremely important.

In Saudi Arabia, the premature death, morbidity and disability associated with Non-Communicable Diseases (NCDs) not only affect the healthcare sector, but also negatively affect socio-economic development and long-term fiscal sustainability of government and public services. The Saudi Arabia PET Scan Market is thus driven significant factors such as the increased healthcare expenditure, increased geriatric population, and rising prevalence of chronic diseases. However, the radiation exposure concerns, regulatory challenges, and lack of skilled professionals restrict the growth and potential of the market.

The prominent players of the Saudi Arabia PET Scan Market are Philips Healthcare, Toshiba Medical Systems, Hitachi Medical Systems, Shimadzu, and Mediso Medical Imaging Systems, among others.

Market Dynamics

Market Growth Drivers

Increased Healthcare Expenditure: Increased healthcare expenditure drives the growth and modernization of healthcare infrastructure, leading new hospitals, diagnostic centres, and specialty clinics to integrate PET scanning services. This integration enhances their diagnostic capabilities and attracts patients seeking advanced medical care. Additionally, healthcare systems with higher expenditures emphasize integrated care approaches, utilizing PET scans alongside imaging technologies like CT or MRI to improve diagnostic accuracy and treatment planning. This integrated approach supports market expansion. Moreover, increased spending supports research and development activities, with PET scans essential for clinical trials, drug development, and medical research. This fosters advancements in PET scan technology and expands its clinical applications.

Increased Geriatric Population: The proportion of people in Saudi Arabia aged 60 or more is predicted to be 25% of the total population by the end of 2050. With advancing age comes heightened vulnerability to a range of age-related diseases, particularly chronic ailments like cancer, cardiovascular disorders, and neurodegenerative conditions. PET scans play a pivotal role in diagnosing and tracking these illnesses, resulting in increased demand among the elderly. The aging population frequently exhibits complex healthcare needs that demand precise and thorough diagnostic capabilities. Through its ability to deliver comprehensive data on disease progression, treatment efficacy, and overall health maintenance, PET scanning supports tailored healthcare interventions. Ultimately, the aging demographic accentuates the importance of PET scans, driving expansion in the PET Scan Market.

Rising Prevalence of Chronic Diseases: In Saudi Arabia, cancer, cardiovascular diseases, diabetes and chronic respiratory diseases are the four major diseases which account for 35% of all deaths. To effectively manage these chronic conditions, PET scans are valuable tools which aid in the accurate and early detection, staging, treatment planning, and monitoring of these conditions. Thus, the benefits offered by PET scans are numerous which continues to increase their demand for clinical utility which drives the PET Scan Market growth.

Market Restraints

Radiation Exposure Concerns: The medical advantages of PET scans are extensive, yet radiation exposure presents a significant issue for patient safety, public perception, and regulatory compliance. Radiotracers used in PET scans emit ionizing radiation, and despite low doses, repeated exposure may raise concerns for patients, leading to hesitancy. This is particularly true for pregnant women and children, who are more susceptible to radiation effects, thus limiting the use of PET scans in these cases. These issues consequently hinder the growth of the PET scan market.

Regulatory Challenges: The stringent regulatory approval process for radiotracers used in PET scans includes preclinical research, clinical trials, and comprehensive regulatory filings. These requirements can delay the introduction of novel radiotracers and sophisticated imaging options. Regional and national regulatory constraints also complicate the launch of innovative PET imaging technologies, delaying market entry and adoption. Consequently, the regulatory approval process for medical devices can be a considerable market restraint for the PET scan industry.

Lack of Skilled Professionals: A lack of professionals with the necessary training to operate PET scanners and interpret results is impeding the PET Scan Market. Experts must comprehend not only how the PET scanner operates but also the intricacies of radioactive tracers, normal and abnormal PET scan results, and the relationships between these results and certain diseases. The lack of capabilities in the industry may hinder the expansion of PET technology by delaying its adoption and restricting its accessibility.

Regulatory Landscape and Reimbursement Scenario

The regulatory authority in charge of the pharmaceuticals in the Saudi Arabia is the Saudi Food and Drug Authority (SFDA). It is responsible for ensuring the safety and efficacy of drugs and other health related products sets post-marketing criteria and controls the distribution of pharmaceutical products in Saudi Arabia.

Clinical Trial Administration was formed in 2009 and its primary responsibilities are to evaluate the clinical trials protocol, conduct inspections based on Good Clinical Practice (GCP), and maintain the Saudi Clinical Trial Registry (SCTR). The applications submitted by the pharmaceutical companies is verified by the SFDA to ensure compliance with rules and completeness after rigorous assessment, testing, and inspection. Prior to authorization, an internal price agreement must be formed and a Certificate of Pharmaceutical Product (CPP) must be obtained at the time of registration. Applications may be reviewed after two to six months, but priority products are removed from the queue.

The Ministry of Health (MoH) is in charge of managing certain facets of private insurance as well as the public healthcare system. The Saudi General Organization for Social Insurance (SAGO) offers health insurance to those who work for the government and their families. For covering the public sector, the MoH employs a variety of techniques, such as diagnosis-related groups (DRGs) and fee-for-service (FFS). FFS pays providers according to the services they offer, whereas DRGs establish a fixed fee for treating a particular illness. For the private sector, FFS, capitation (fixed payments per insured individual), and bundled payments (set price for a period of treatment) are only a few of the techniques used by private insurance companies.

Competitive Landscape

Key Players

Here are some of the major key players in the Saudi Arabia PET Scan Market:

• Siemens Healthineers
• Philips Healthcare
• Toshiba Medical Systems
• GE Healthcare
• Hitachi Medical Systems
• Shimadzu
• Mediso Medical Imaging Systems
• Canon Medical Systems
• Esaote
• Neusoft Medical Systems