UK PET Scan Market Analysis

UK PET Scan Market Executive Summary

The UK PET Scan market is at around $50.4 Mn in 2023 and is projected to reach $63.7 Mn in 2030, exhibiting a CAGR of 3.4% 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 UK due to the rising prevalence of chronic health conditions marked by the aging population, leading to increased mortality and morbidity in the country. The UK 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 leading players of the UK PET Scan Market are Siemens Healthineers, Toshiba, GE Healthcare, Hitachi, Canon Medical Systems, among others.

Market Dynamics

Market Growth Drivers

Rise in Elderly Population: 19% of the population was constituted by individuals aged 65 and older in the UK as of 2023. As people live longer, age-related conditions such as cancer, heart disease, and neurological disorders become more common. PET scans are vital for diagnosing and monitoring these diseases. They enable early detection of conditions like cancer, which improves patient outcomes. The surge in elderly patients needing diagnosis and treatment for age-related diseases increases the demand for PET scans, directly influencing market expansion.

Increasing Prevalence of Chronic Diseases: Approximately 3 Mn Individuals are affected by cancer currently, which is highlighting the burden of the deadly disease. Early identification is crucial for effectively treating chronic diseases like cancer, cardiovascular conditions, and neurological disorders. PET scans enable this by detecting metabolic changes related to these diseases early on, facilitating timely diagnosis and treatment. This improves patient management, cuts down on unnecessary procedures, and boosts healthcare efficiency, leading to increased demand for PET scans and driving market growth.

Increasing Healthcare Expenditure: The growth of the PET scan market is significantly influenced by increased healthcare spending, which allows healthcare facilities to invest in sophisticated imaging equipment such as PET scanners. Despite their high acquisition and maintenance costs, hospitals and clinics can afford these technologies due to the rise in healthcare expenditure. Moreover, as healthcare spending increases, so does the demand for accurate and early diagnosis, which PET scans are renowned for. This surge in demand propels the adoption of PET scan technology, creating a favourable growth landscape for the market.

Market Restraints

Affordability: The high cost of PET scans presents a considerable hurdle for low- and middle-class patients, while those without adequate insurance coverage face challenges in obtaining these scans. In contrast, MRI and CT scans are more accessible and cost-effective, offering a better value proposition. As a result, fewer patients opting for PET scans could constrain market expansion for this imaging technology.

Varied Reimbursement: The reimbursement for PET is managed through the National Health Service (NHS). The funding for PET scan varies greatly and is based on the guidelines from the National Institute for Health and Care Excellence (NICE). There are certain challenges to the system however. The NHS faces funding challenge currently which impacts the access to PET scan services. Overall, the patients are only reimbursed if they meet all the pre-requisites according to the NICE guidelines. Thus, the varied reimbursement prevents the full PET Scan Marke Growth.

Competition from other Imaging Techniques: Established imaging techniques like Single Photon Emission Computed Tomography (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

The Medicines and Healthcare products Regulatory Agency (MHRA) is the government authority of UK, sponsored by the Department of Health and Social Care. MHRA ensures that pharmaceuticals, blood components, advanced therapy medical products, and medical devices meet applicable standards of safety, quality, and efficacy. Its core responsibilities include overseeing UK notified bodies, regulating clinical trials, monitoring compliance for medicines and medical devices, and offering technical and regulatory advice for these products. Moreover, MHRA serves to protect the overall public health by promoting international standardization and harmonization.

The license or marketing authorization for new drugs is granted by the regulatory authority, i.e., MHRA after ensuring that the drug is safe, effective, and meets GMP requirements. The MHRA is responsible for granting license in England, Scotland, and Wales and the European Medicines Agency (EMA) is responsible in Northern Ireland. Once the drug is granted a license, appraisal takes place before it is made available on the National Health Service (NHS). In England and Wales, this appraisal is carried out by the National Institute for Health and Care Excellence (NICE), in Scotland by Scottish Medicines Consortium (SMC), and in Northern Ireland by Department of Health (DoH).

The goal of the National Health Service (NHS), the UK’s tax-funded healthcare system, is to provide comprehensive healthcare services free at the point of access for its residents. Two primary methods of reimbursement exist: Primary Care and Secondary Care. Local Clinical Commissioning Groups (CCGs) are tasked for contracting with and compensating general practices for primary care services, such as doctor visits. For Secondary Care, NHS England oversees the funding of hospitals and specialized services centrally. Hospital reimbursement is determined by a national tariff system that establishes rates for particular medical services.

Competitive Landscape

Key Players

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

• Siemens Healthineers
• Toshiba
• GE Healthcare
• Hitachi
• Canon Medical Systems
• Hermes Medical Solutions
• Philips Healthcare
• Mediso Medical Imaging Systems
• Shimadzu Corporation
• Neusoft Medical Systems