Press release
Positron Emission Tomography (PET) Scanners Market Size Forecasted To Achieve $1.97 Billion By 2029 With Steady Growth
Positron Emission Tomography (PET) Scanners Market
What Is the Positron Emission Tomography (PET) Scanners Market Size and Projected Growth Rate?
In recent times, the market size for positron emission tomography (PET) scanners has experienced robust growth. The market is projected to expand from a valuation of $1.51 billion in 2024, growing to $1.6 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%. This remarkable growth recorded in the past can be linked to progress in radiopharmaceuticals, an upsurge in cancer diagnosis, broadening of clinical applications, improvements in healthcare infrastructure, and increasing focus on the early detection of diseases.
In the forthcoming years, it is projected that the market size of positron emission tomography (PET) scanners will see significant expansion. The market is forecasted to grow to $1.97 billion by 2029 with a compound annual growth rate (CAGR) of 5.4%. The surge of growth in the projected period can be credited to numerous factors such as the increasing prevalence of neurological conditions, the incorporation of artificial intelligence in imaging, the growth in oncology research and personalized medicine, and growing applications in the field of cardiology. It is also bolstered by the rise in the aging population. Noteworthy trends for the forecast period encompass technological advancements in imaging, progress in digital detector technology, the introduction of total-body PET scanners, and the broadening applications in neurology, including the emergence of hybrid PET/MRI systems.
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What Are the Major Segments in 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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What Are The Driving Positron Emission Tomography (PET) Scanners Market Evolution?
The escalating prevalence of brain disorders is predicted to stimulate the growth of the positron emission tomography (PET) scanners market. Factors such as illnesses, genetics or traumatic injuries that undermine normal brain function contribute to brain disorders. PET scanners use a tracer, a radioactive element, to highlight not only ordinary but also unusual metabolic brain activity. These scanners are essential for tracking brain functions, disease progression, treatment response and determining conditions invisible to other imaging techniques. For instance, the Alzheimer's Association, a non-profit organization based in the US, stated that as of March 2024 approximately 6.9 million Americans over 65 are living with Alzheimer's dementia. This figure is anticipated to rise to 13.8 million by 2060, hence, an upsurge in brain disorders is fueling the expansion of the positron emission tomography (PET) scanners market. The Rising Occurrence of Alzheimer's Disease: A Key Driver for the Positron Emission Tomography (PET) Scanners Market
Which Firms Dominate The Positron Emission Tomography (PET) Scanners Market Segments?
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
What Trends Are Expected to Dominate the Positron Emission Tomography (PET) Scanners Market in the Next 5 Years?
Leading firms in the positron emission tomography (PET) scanner market are turning to cutting-edge technologies such as the Optiso Ultra Dynamic Range (UDR) detector to innovate and offer top-notch services to their clientele. This technology, a fresh addition to the PET detectors' category, harnesses multiple technological advancements to provide optimal performance in extensive count rates, significantly enhancing the image quality and diagnostic precision of PET scanning, particularly for patients with high-activity tracers. Case in point, Siemens Healthineers AG, a healthcare solutions and services firm based in Germany, unveiled the Biograph Vision X, their latest PET/Computed Tomography (PET/CT) scanner in June 2023. This state-of-the-art scanner leverages the Optiso Ultra Dynamic Range (UDR) detector technology, which employs silicon photomultipliers (SiPMs). This makes it possible to use small 3.2 mm x 3.2 mm lutetium oxyorthosilicate (LSO) crystal elements, enabling higher spatial resolution than their larger counterparts and ensuring a time of flight (TOF) of 178 picoseconds (PS). Thanks to these minuscule LSO crystals, completely enveloped by SiPMs, the scanner boasts an astounding 48-mm3 volumetric resolution and a performance enhancement (TOF gain) of 20%.
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Which Is The Largest Region In 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Positron Emission Tomography (PET) Scanners Market?
2. What is the CAGR expected in the Positron Emission Tomography (PET) Scanners Market?
3. What Are the Key Innovations Transforming the Positron Emission Tomography (PET) Scanners Industry?
4. Which Region Is Leading the Positron Emission Tomography (PET) Scanners Market?
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