Global PET MRI Market size will surpass US$ 338.9 Million in terms of market value by 2029

According to Persistence Market Research (PMR), the Global PET MRI Market size will surpass US$ 338.9 Million in terms of market value by 2029, witnessing a CAGR of 9.8% from 2022 to 2029. PET (Positron Emission Tomography) is mostly used in neurological applications because it allows for high-resolution and three-dimensional imaging of physiological, functional, and molecular targets. PET MRI demand is expected to increase by 2029, with a rising preference for its superior three-dimensional imaging over its partial-ring equivalents.

In comparison with hybrid gamma cameras, the PET MRI delivers stronger sensitivity, as well as better resolution and performance, hence the market is expected to grow significantly throughout the forecast period. Furthermore, technological advancements such as the introduction of Time of Flight (TOF) and the growing popularity of hybrid imaging systems contribute significantly to the growth of the PET MRI market.

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Company Profiles:

GE Healthcare
Siemens AG
Koninklijke Philips N.V.
United Imaging
Bruker
Mediso Ltd.
Aspect Imaging
Cubresa Inc.
inviscan SAS
MR Solutions

North America dominates the market

Technological improvements in PET imaging for oncology and advanced diagnostics applications, as well as rising demand for precision diagnostics, are some of the reasons driving market expansion in the North American region. The increased prevalence of cancer cases, such as breast cancer and prostate cancer, is also expected to considerably boost the market growth. The presence of significant industry leaders is another factor driving market growth in this region.

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Impact of Covid-19 on the PET MRI Market

From March 2020 through September 2021, the Covid-19 outbreak shifted healthcare focus toward combatting the pandemic. However, the post-Covid period has brought back normalcy, with an unexpected increase in demand for PET MRI, due to patients suffering from chronic illnesses being more careful about the diagnosis.

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PMR has presented a comprehensive report based on PET MRI Market as per Product Type (Integrated, Separate, Insert, and Hybrid), PET Imaging Technology (Conventional, and Time of Flight), Image Acquisition (Sequential PET MRI Scanners, and Simultaneous PET MRI Scanners), Application (Pre-clinical PET MRI Systems, and Clinical Pet MRI Systems), End-user (Hospitals, Diagnostic Laboratories, Research Institutes, and Biopharmaceutical Co) based on seven regions.

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This release was published on openPR.