South Africa PET Scan Market Analysis

South Africa PET Scan Market Executive Summary

The South Africa PET Scan market is at around $12.6 Mn in 2023 and is projected to reach $19.8 Mn in 2030, exhibiting a CAGR of 6.63% 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.

South Africa has a high burden of both communicable diseases such as malaria, tuberculosis, HIV/AIDS and non-communicable disease (NCDs) such as cardiovascular disease, chronic respiratory disease, cancer, and diabetes. The South Africa 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 South Africa 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 spending leads to the expansion and modernization of healthcare infrastructure. There is an increased probability that new hospitals, diagnostic centres, and specialty clinics will incorporate PET scanning services to enhance their diagnostic capabilities and attract patients seeking advanced medical care. Next, higher spending health care systems typically place more of an emphasis on integrated and multidisciplinary care techniques. PET scans provide thorough diagnostic insights, especially when paired with other imaging modalities as CT or MRI. Better treatment planning and management are made possible by this integration, which further propels market expansion. Lastly, R&D activities are supported by higher healthcare spending. Because PET scans can offer extensive information on illness processes, treatment responses, and patient outcomes, they are essential for use in clinical trials, medication development, and medical research. This encourages advancements in PET scan technology and broadens its range of clinical uses which results in a positive effect on the PET Scan Market.

Increased Geriatric Population: As people age, their susceptibility to various age-related diseases, especially chronic conditions like cancer, cardiovascular diseases, and neurodegenerative disorders, increases. PET scans are indispensable for diagnosing and monitoring these conditions, resulting in greater demand among the elderly. Consequently, older adults frequently have medical needs that require precise and thorough diagnostic tools. By providing comprehensive information on disease progression, treatment efficacy, and overall health management, PET scans facilitate personalized care approaches. Overall, the aging population underscores the importance of PET scans, contributing to the expansion of the PET scan market.

Rising Prevalence of Chronic Diseases: Chronic diseases such as cancer, cardiovascular diseases, and neurodegenerative disorders are drastically increasing. According to the WHO, the age-standardised mortality rate across major NCDs including malaria, tuberculosis, HIV/AIDS, cardiovascular disease, chronic respiratory disease, cancer, and diabetes was 772 per 100,000 in males and 579 in females in 2021. To overcome these diseases, it necessitates advanced diagnostic tools like PET scans for accurate and early detection, staging, treatment planning, and monitoring of these conditions. The usefulness of PET scans results in its market growth.

Market Restraints

Radiation Exposure Concerns: Despite the numerous benefits of PET scans in the medical field, radiation exposure remains a major concern due to its implications for patient safety, public perception, and regulatory compliance. PET scans utilize radiotracers that emit ionizing radiation, and although the doses are low, repeated exposure can be problematic for patients. This can lead to patient reluctance, particularly among those who require frequent imaging. Additionally, pregnant women and children are more vulnerable to radiation's harmful effects, limiting the use of PET scans in these groups. These concerns ultimately impede the growth of the PET scan market.

Regulatory Challenges: Preclinical research, clinical trials, and regulatory filings are all necessary for the stringent regulatory approval of radiotracers used in PET scans. The introduction of novel radiotracers and the availability of sophisticated imaging choices can be impeded by delays in licensing processes. Also, introduction of novel radiotracers and innovative PET imaging technologies can be complicated by regional and national regulatory constraints, which furthers delays market entry and adoption. Therefore, the overall regulatory approval process for medical devices in the country can be considered a potential market restraint for the PET Scan Market.

Lack of Skilled Professionals: The market for PET scans is limited by a lack of qualified personnel who can operate the machines and interpret the data. This lack of knowledge may cause delays in diagnosis and treatment, which would restrict the market's potential for expansion. The complexity of PET technology necessitates specialized training, and a major obstacle to the broad acceptance and use of PET scans is the lack of qualified workers.

Regulatory Landscape and Reimbursement Scenario

The regulatory body for pharmaceuticals in South Africa is the South African Health Products Regulatory Authority (SAHPRA), operating under the National Department of Health. SAHPRA ensures the safety, efficacy, and quality of all health products in South Africa, including human and veterinary medicines, medical devices, and complementary medicines.

Before new drugs can be sold in South Africa, SAHPRA evaluates applications and authorizes their commercialization. Additionally, they grant licenses to producers, distributors, and wholesalers of pharmaceuticals and medical devices. When evaluating novel drugs, SAHPRA examines and approves clinical trial applications to guarantee participant safety and ethical research procedures. Moreover, SAHPRA gathers and analyses information on adverse reactions reported by patients and healthcare professionals in order to actively monitor the safety of pharmaceuticals once they are placed on the market. Overall, the rigorous review process of SAHPRA helps ensure that only safe and effective medications reach the market, thus safeguarding the public health in South Africa.

South Africa's National Health Insurance (NHI) is a proposed reform aiming to transform the country’s healthcare financing system. Regardless of employment or income level, the NHI aims to provide all South African citizens and permanent residents with universal access to high-quality healthcare services. By establishing a unified funding source for the public and private healthcare sectors, the NHI seeks to overcome current disparities in healthcare access.

Competitive Landscape

Key Players

Here are some of the major key players in the South Africa PET Scan Market:

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