(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the PET Scanner Market report for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for PET Scanner Market Products.
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The healthcare industry in India is progressing considerably and the medical device market is one of the most promising segments in this industry. The growth in the health infrastructure in the country, that is, the rise in the number of hospitals, nursing homes and other medical centers is creating a need for sophisticated devices and equipments which can provide accurate treatment to individuals. The global market for medical devices is also growing rapidly and India has joined the bandwagon of being one of the fastest growing countries in this respect. In such an industry, the market for PET scanners is also showing considerable potential. Although there are very few players in the market, all being big multinationals, there is considerable potential for growth in this market and domestic companies can also enter the market and increase profitability. The growing target base of consumers is expected to boost sales and the market is expected to exhibit steady growth in future.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The report provides a snapshot of the PET scanner market. It begins with an overview of the major macro economic indicators of India which highlights the present economic scenario prevalent in the country. It is followed by the introduction section which briefly discusses the working and uses of PET scanners. The next section is the market overview section which provides an insight into the market and highlights the market size and growth of PET scanners in the country. The market size and growth have been provided both value-wise as well as volume-wise.
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This is followed by an analysis of the drivers leading to growth in the market. This includes increasing number of cancer cases, increasing cardiovascular diseases, growth in private hospitals and diagnostic centers, changing demographic structure and increasing healthcare spending. The main challenges to the market include the high costs and operational requirements and lack of insurance coverage for PET scans. A section on the major technological trends in this market has also been included. This includes PET/CT, PET/MR and new PET tracers.
The competitive landscape section provides an overview of the competitive scenario in the industry and includes a detailed profile of the major players in the market. The Porter's Five Forces analysis for the market is provided in this section. It also includes competitive benchmarking of the top players operating in the PET scanner market in India. The report also provides brief profiles of the major domestic and foreign players in the market and a snapshot of their financial performance along with their key financial ratios, business highlights, their product portfolio and SWOT analysis.
A section providing strategic recommendations has been added at the end of the report which gives effective solutions to existing and potential players for improving their market share and increasing their profitability.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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About Kenneth Research:
Rated as one of the best multi-client reselling agencies, Kenneth Research provides a single platform for insights on numerous industries for investors and companies who are willing to expand their business. The platform caters to industries that include Healthcare and Pharmaceuticals, Chemicals, ICT and Telecom, Energy and Power, Automotive and Transportation, and several others, and offers the best strategic business consultancy services at a global level.
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Eli
Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.
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