Press release
Positron Emission Tomography (PET) Scanners Market Poised for 5.4 % Growth, Set to Hit $2.39 Billion by 2029
Positron Emission Tomography PET Scanners Market
The rise in brain disorder cases is anticipated to drive the positron emission tomography (PET) scanners market's growth. Brain disorders, which can be triggered by illness, genetics, or traumatic injury, affect the brain's normal functioning. PET scans use a radioactive tracer to identify both normal and abnormal metabolic activity in the brain. They also track the brain's functioning, disease progression, and response to treatment, even diagnosing conditions that might not be visible in other imaging types. For instance, the Alzheimer's Association, a US-based non-profit organization, reported in March 2024 that about 6.9 million Americans aged 65 and older were living with Alzheimer's dementia as of 2024. This number is projected to rise to 13.8 million by 2060. Thus, the increasing prevalence of brain disorders is propelling the growth of the positron emission tomography (PET) scanners market. The positron emission tomography (PET) scanners market is expected to witness significant growth due to the rising number of Alzheimer's disease cases. Alzheimer's disease, a form of dementia, leads to cognitive, memory, and behavioral problems. Its symptoms progressively intensify to the point where they interfere with everyday activities. A PET scan can detect the build-up of abnormal amyloid protein in the brain cortex, a key indicator of Alzheimer's disease. According to the Alzheimer's Association, a US-based organization offering care, support, and research for Alzheimer's patients, approximately 6.7 million Americans aged 65 and older were diagnosed with Alzheimer's disease in 2023. The disease affects around one in every nine adults aged 65 and over (10.7%). Therefore, the rising incidence of Alzheimer's disease fuels the growth of the positron emission tomography (PET) scanners market.
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What Is the projected market size and growth rate for the positron emission tomography (pet) scanners market?
In recent times, the market dimension for positron emission tomography (PET) scanners has seen robust growth. The value will elevate from a baseline of $1.51 billion in 2024 to touch a target of $1.6 billion in 2025, marking a compound annual growth rate (CAGR) of 5.5%. The historical growth has been a result of factors such as the progression in radiopharmaceuticals, the rise in cancer diagnosis, expansion of clinical applications, development of healthcare infrastructure, and an intensified focus on the detection of diseases at their earliest stages.
We can expect robust expansion for the positron emission tomography (PET) scanners market in the upcoming years. The market size is predicted to reach up to $1.97 billion by 2029, growing at an annual compound rate (CAGR) of 5.4%. The anticipated growth throughout the forecast period is credited to factors like a surge in neurological disorders, infusion of artificial intelligence in imaging, advancements in oncology research and personalized medicine, extended applications in cardiology, and a rise in the elderly population. Key trends that will dominate during the forecast period include technological breakthroughs in imaging, advancements in digital detector technology, the advent of total-body PET scanners, expanded applications in neurology, and hybrid PET/MRI systems.
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What new trends are reshaping the positron emission tomography (pet) scanners market and its opportunities?
Leading businesses in the positron emission tomography (PET) scanner market are revolutionizing their product offerings by embracing advanced technologies such as the Optiso Ultra Dynamic Range (UDR) detector. This updated PET detector combines several technologies to deliver impeccable performance across a broad array of count rates enhancing the image quality and diagnostic precision, especially for patients with highly active tracers. For instance, in June 2023, Siemens Healthineers AG, a healthcare solutions company based in Germany, unveiled the Biograph Vision X, an upgraded positron emission tomography/computed tomography (PET/CT) scanner. The device integrates Optiso Ultra Dynamic Range (UDR) detector technology that utilizes silicon photomultipliers (SiPMs) compatible with the small size 3.2 mm x 3.2 mm lutetium oxyorthosilicate (LSO) crystal components. This technology allows for a greater spatial resolution than its larger counterparts, offering a time of flight (TOF) of 178 picoseconds (PS). By utilizing these highly compact LSO crystals enclosed in SiPMs, the scanner delivers exceptional 48-mm3 volumetric resolution along with a 20% increase in performance (TOF gain).
What major market segments define the scope and growth of the positron emission tomography (pet) scanners market?
The positron emission tomography (PET) scanners market covered in this report is segmented -
1) By Modality: PET-CT (Positron Emission Tomography-Computed Tomography), PET-MRI (Positron Emission Tomography-Magnetic Resonance Imaging)
2) By Detector Type: Gadolinium Oxyorthosilicate, Lutetium Fine Silicate, Bismuth Germanium Oxide, Lutetium Oxyorthosilicate
3) By Application: Cardiology, Neurology, Oncology, Orthopedics, Urology, Gastroenterology, Other Applications
4) By End User: Hospitals, Diagnostic Centers, Other End-Users
Subsegments:
1) By PET-CT (Positron Emission Tomography-Computed Tomography): Standalone PET-CT Systems, Hybrid PET-CT Systems
2) By PET-MRI (Positron Emission Tomography-Magnetic Resonance Imaging): Dedicated PET-MRI Systems
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Which region dominates the positron emission tomography (pet) scanners market?
North America was the largest region in the positron emission tomography (PET) scanners market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the positron emission tomography (pet) scanners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the positron emission tomography (pet) scanners industry growth?
Major companies operating in the positron emission tomography (pet) scanners market report are Clarity Pharmaceuticals Ltd., Hitachi Ltd., Eli Lilly and Company, Canon Medical Systems USA Inc., Toshiba Corporation, Siemens Healthineers, Fujifilm Holdings Corporation, Koninklijke Phillips N.V., GE HealthCare, Perkin Elmer Inc., CMR Naviscan Corporation, Shimadzu Corporation, Neusoft Medical Systems Co. Ltd., Blue Earth Diagnostics Limited, Mediso Medical Imaging Systems, Cubresa Inc., Oncovision, Radiology Oncology Systems Inc., FMI Medical Systems Inc., Edger Systems LLC, Mediso Ltd., MR Solutions Group Ltd., Modus Medical Devices Inc., MinFound Medical Systems Co. Ltd, PETsys Electronics SA, Yangzhou Kindsway Biotech Co. Ltd., Positron Corporation, RefleXion Medical
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What Is Covered In The Positron Emission Tomography (PET) Scanners Global Market Report?
•Market Size Forecast: Examine the positron emission tomography (pet) scanners market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the positron emission tomography (pet) scanners market for a structured understanding.
•Key Players Overview: Analyze major players in the positron emission tomography (pet) scanners market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the positron emission tomography (pet) scanners market.
•Segment Contributions: Evaluate how different segments drive overall growth in the positron emission tomography (pet) scanners market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the positron emission tomography (pet) scanners market.
•Industry Challenges: Identify potential risks and obstacles affecting the positron emission tomography (pet) scanners market.
•Competitive Landscape: Review strategic developments in the positron emission tomography (pet) scanners market, including expansions, agreements, and new product launches.
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