UAE PET Scan Market Analysis

UAE PET Scan Market Executive Summary

The UAE PET Scan market is at around $9.7 Mn in 2023 and is projected to reach $15 Mn in 2030, exhibiting a CAGR of 6.4% during the forecast period.

PET Scan is an advanced diagnostic and imaging technique which effectively identifies a variety of health issues such as cancer, heart disease, and brain disorders. It aids in the initial diagnosis and also in monitoring of the conditions for planning the treatment course. There are various types of PET scan including whole body PET scan. In whole body PET scan, the images of the entire body from head to toe are detected. A radiotracer is injected into the body which gets absorbed by all the tissues in the body. The scanner then detects the emitted radiation and creates detailed images of the organs and tissues. A whole-body PET scan is typically used to detect cancer, determine the stage of cancer, and monitor the treatment effectiveness. This type of scan is particularly useful for metastasis detection as it can identify even small tumors which might not be identified through other imaging tests. Another type of PET scan, called DOTATATA PET scan is used which is highly sensitive and specific for diagnosing neuroendocrine tumors (NETs). It utilizes a radiotracer called Gallium-68 DOTATATE, which combines somatostatin analog (DOTATATE) with a radioactive isotope (Gallium-68). The radiotracer targets somatostatin receptors which are often over expressed on the neuroendocrine tumors, allowing for the detection of both primary and metastatic NETs. A PSMA PET Scan is another type of PET scan used to detect, stage, and monitor prostate cancer. PSMA is the short for Prostate-Specific Membrane Antigen, which is overexpressed on the prostate cancer cells.

There is a significant burden on the healthcare sector of UAE due to the rising prevalence of chronic diseases such as diabetes, hypertension, and cancer, leading to increased mortality and morbidity in the country. The UAE PET Scan Market is thus driven significant factors such as the rise in elderly population, increasing prevalence of chronic diseases, and increasing healthcare expenditure. However, the affordability, varied reimbursement, and, competition from other imaging techniques restrict the growth and potential of the market.

The major players of the UAE 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

Rise in Elderly Population: The population of the UAE is predicted to undergo a demographic shift, with the number of people aged 60 and above expected to more than six-fold increase from 3.1% of the total population to 19.7% between 2020 and 2050. As the population ages, illnesses such as cancer, heart disease, and neurological disorders become more prevalent. PET scans play a crucial role in diagnosing and monitoring these conditions. They can detect diseases like cancer at an early stage, which improves patients' quality of life. The rising number of elderly patients requiring diagnosis and treatment for age-related diseases boosts the demand for PET scan procedures, driving market growth.

Increasing Prevalence of Chronic Diseases: According to the WHO, in 2022, the age standardized incidence cancer rates among men and women were 86.4 and 157.8, respectively, and 105.1 for both genders. The successful treatment of chronic diseases, including cancer, cardiovascular ailments, and neurological conditions, often relies on early detection. PET scans are instrumental in identifying metabolic abnormalities associated with these disorders early, allowing for quick diagnosis and treatment initiation. This helps streamline patient care, reduce unnecessary procedures, and enhance healthcare efficiency, thus driving the demand for PET scans and propelling market growth.

Increasing Healthcare Expenditure: Increasing healthcare expenditure plays a significant role in driving the market growth of PET scans in several ways. Increased spending on healthcare makes it possible for medical facilities to purchase sophisticated imaging equipment, such as PET scanners. The cost of purchasing and maintaining these scanners is high, but hospitals and clinics can afford them due to rising healthcare spending. Also, as the healthcare expenditure rises, there is a corresponding increase in patient expectations for accurate and early diagnosis which PET scans are widely known for. This demand drives the adoption of PET scan technology. Overall, the increased healthcare expenditure creates a favourable environment for the PET Scan Market growth.

Market Restraints

Affordability: Affordability is a significant concern for PET scans, particularly impacting access for low- and middle-income patients and those lacking adequate insurance coverage. In comparison, MRI and CT scans are more accessible and cost-efficient, offering a higher benefit relative to their cost. Consequently, the preference for these alternatives over PET scans could limit the market growth of PET imaging.

Varied Reimbursement: Reimbursement for PET scan procedures in the UAE varies depending on several factors, including the type of healthcare coverage, the specific healthcare provider, and the insurance policy. Certain insurance policies have specific exclusions or limitations, such as coverage only for certain purposes such as cancer staging or a cap on the amount reimbursed. Also, many insurance providers seek prior approval for funding PET scan and allow for the service only at an hospital or medical centres which have an agreement with the insurance company. Overall, the reimbursement procedure involves many aspects which can hinder the PET Scan Market Growth.

Competition from other Imaging Techniques: Established imaging techniques like SPECT, CT, and MRI scans pose significant competition to PET scans. These traditional methods are generally more cost-effective, making them a more attractive option for patients. Additionally, they are widely available and accessible, leading to a higher preference among healthcare providers. As a result, the PET scan market faces challenges due to the prevalence and established nature of these older imaging technologies.

Regulatory Landscape and Reimbursement Scenario

In UAE, the Ministry of Health and Prevention (MoHAP) is the federal regulatory authority responsible for overseeing the healthcare system. It plays a critical role in safeguarding public health by ensuring the safety, quality, and efficacy of the medicines. In addition to MoHAP, other regulatory bodies that oversee licenses, register different types of products, and create healthcare policies and guidelines for hospitals and pharmacies are the Dubai Health Authority (DHA) and the Health Authority Abu Dhabi (HAAD).

The pharmaceuticals require approval before importing, selling or marketing in the UAE. Registration of pharmaceutical products is a complex process which requires extensive documentation and several requirements to be fulfilled by the companies. The overall approval process for pharmaceuticals and medical devices involves classification, application submission, review, and potential inspection. Depending on the device’s complexity and the application’s thoroughness, the evaluation procedure may take up to 45 working days.

The UAE’s healthcare reimbursement landscape involves a mix of public and private insurance. In the public sector, Government funds and taxes collected from patients with required insurance are frequently used to reimburse public hospitals and clinics. In the private sector, private insurance providers employ a range of techniques, including: Fee-For-Service (FFS) which pays medical professionals according to the services they offer (e.g., consultation, operation); the Diagnosis Related Groups (DRGs) defines a set fee for the treatment of a certain illness. Lastly, through the Managed Care, individuals with insurance might receive discounted treatments from networks of healthcare providers.

Competitive Landscape

Key Players

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

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