Positron Emission Tomography Market to Reach USD 1.31 Billion by 2029, Driven by Radiopharmaceutical Innovations and Hybrid Imaging Technologies

Mordor Intelligence has published a new report on the Positron Emission Tomography Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

The global positron emission tomography (PET) market, valued at USD 1.09 billion in 2024, is projected to grow to USD 1.31 billion by 2029, at a compound annual growth rate (CAGR) of 3.71%. Growth is driven by increasing demand for radiopharmaceuticals in diagnostics, advancements in hybrid imaging technologies, and the rising prevalence of chronic diseases like cancer and neurological disorders. Innovations such as Time-of-Flight (TOF) imaging and integration with CT systems are further enhancing PET's utility, paving the way for robust market expansion.

Report Overview: https://www.mordorintelligence.com/industry-reports/positron-emission-tomography-pet-market

Key Trends

1. Rising Demand for Radiopharmaceutical Analysis
The expanding role of radiopharmaceuticals in diagnostics is a significant growth driver.

The World Nuclear Association reports over 40 million nuclear medicine procedures annually, with demand for radioisotopes growing at 5% per year.

PET imaging's capability to evaluate organ and tissue functions using radiotracers is enhancing its adoption, particularly in oncology and cardiology diagnostics.

2. Advancements in PET Imaging Technology
Technological innovation continues to shape the PET market landscape:

Hybrid imaging systems, such as PET/CT, are gaining popularity due to their superior diagnostic accuracy.

In June 2022, the University of Oxford developed Deep Learning Time-of-Flight (DL-TOF) models to transform non-TOF PET data into TOF-like images, improving contrast and noise reduction.

Such advancements are increasing the precision and efficiency of PET scans, driving their adoption in both clinical and research settings.

3. Oncology Segment Dominates Application Areas

PET imaging is critical in oncology for early detection and monitoring treatment efficacy:

The integration of advanced imaging biomarkers is enabling personalized oncology care.

Acquisitions, like GE Healthcare's purchase of Zionexa in 2021, highlight the sector's focus on enhancing PET capabilities in oncology and neurology diagnostics.

4. Hybrid Imaging Systems Gain Traction

The growing adoption of hybrid systems like PET/CT and PET/MRI is boosting diagnostic accuracy while reducing scan time. These systems are particularly effective in complex cases, such as oncology and cardiology, where comprehensive imaging is essential.

Market Segmentation

The positron emission tomography market is segmented by Product Type, Application, End-User, and Geography:

By Product Type:

Full Ring PET Scanners: Preferred for their superior resolution and wider diagnostic applications.

Partial Ring PET Scanners: Used in smaller facilities with limited space or budgets.

By Application:

Oncology: Largest segment, driven by rising cancer prevalence and PET's role in tumor detection and monitoring.

Cardiology: Increasing use of PET for evaluating myocardial perfusion and cardiac metabolism.

Neurology: Growing adoption for detecting Alzheimer's disease and other neurological conditions.

By End-User:

Hospitals: Largest user base due to high patient influx and advanced infrastructure.

Diagnostic Centers: Significant growth due to increasing accessibility and affordability of PET scans.

Other End Users: Includes research institutions and academic centers.

By Geography:

North America: Largest market, supported by advanced healthcare infrastructure and high awareness.

Asia-Pacific: Fastest-growing region, driven by increasing healthcare investments and rising disease prevalence.

Europe: Significant growth driven by strong healthcare policies and technological advancements.

Middle East & Africa, South America: Emerging markets with increasing adoption of advanced imaging systems.

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Key Players

The PET market features prominent players driving innovation and expanding their portfolios through strategic acquisitions and partnerships. Major companies include GE Healthcare, Siemens Healthineers, Canon Medical Systems Corporation, Philips Healthcare, and Fujifilm Corporation.

GE Healthcare: Expanded its PET imaging portfolio by acquiring Zionexa, a pioneer in in-vivo oncology and neurology biomarkers.

Siemens Healthineers: Known for its innovative TOF-enabled PET systems and hybrid imaging solutions.

Canon Medical Systems Corporation: Offers cutting-edge PET/CT systems with a focus on reducing radiation exposure.

Philips Healthcare: Invests heavily in hybrid imaging technologies and AI-driven diagnostics.

Fujifilm Corporation: Focused on developing advanced imaging biomarkers for improved diagnostic outcomes.

These companies are actively investing in research and development to address the growing demand for accurate, efficient, and patient-centric diagnostic solutions.

Conclusion

The positron emission tomography market is poised for steady growth, driven by rising demand for radiopharmaceuticals, advancements in hybrid imaging technologies, and increasing prevalence of chronic diseases. The oncology segment remains the largest application area, highlighting PET's critical role in cancer care. As key players continue to innovate and expand their offerings, the market is expected to witness robust development, ensuring better diagnostic outcomes and improved patient care globally. With increasing accessibility and technological advancements, PET imaging is set to remain a cornerstone of modern diagnostic practices.

Industry Related Reports

Nuclear Medicine Market: The Market Report provides insights into market growth and is segmented by Product Type (Diagnostics, including Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET), and Therapeutics, including Alpha Emitters, Beta Emitters, and Brachytherapy), Applications (Cardiology, Neurology, Oncology, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America).

To know more visit this link: https://www.mordorintelligence.com/industry-reports/nuclear-medicine-market

Image Guided Therapy Systems Market: The Market Report is segmented by Product Type (Ultrasound Systems, Computed Tomography (CT) Scanners, Magnetic Resonance Imaging (MRI), Endoscopes, Positron Emission Tomography (PET), and Others), Application (Neurosurgery, Cardiac Surgery, Urology, Orthopedic Surgery, and Others), End User (Hospitals, Ambulatory Surgery Centers, and Clinics), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America).

To know more visit this link: https://www.mordorintelligence.com/industry-reports/image-guided-therapy-system-market

Nuclear Imaging and Devices Market: The Market is segmented by Product (Equipment and Radioisotopes, including SPECT Radioisotopes such as Technetium-99m (Tc-99m), Thallium-201 (Tl-201), Gallium (Ga-67), Iodine (I-123), and Other SPECT Radioisotopes, and PET Radioisotopes such as Fluorine-18 (F-18), Rubidium-82 (Rb-82), and Other PET Radioisotopes), Application (SPECT Applications, including Cardiology, Neurology, Thyroid, and Other SPECT Applications, and PET Applications, including Oncology, Cardiology, Neurology, and Other PET Applications), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America).

To know more visit this link: https://www.mordorintelligence.com/industry-reports/global-nuclear-imaging-market-industry

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