The global Positron Emission Tomography (PET) market is set to witness a growth rate of 5% in the next 5 years. Growing prevalence of chronic diseases; technological advancements in radiopharmaceuticals and PET systems; increasing demand for early and precise diagnosis; rising applications in oncology and neurology; and increasing investments, funds, and grants by public-private organizations are some of the key factors driving the PET market.
PET is a sophisticated imaging technique used primarily in medical diagnostics. It employs a radioactive substance known as a radiotracer, which is injected into the patient’s bloodstream. As the radiotracer accumulates in tissues, it emits positrons that are detected by a PET scanner, creating detailed images of metabolic activity within the body. This allows healthcare providers to identify abnormalities such as tumors, assess heart function, and evaluate brain disorders. PET scans are particularly valuable for detecting diseases at early stages, often before they are visible through other imaging methods like CT or MRI scans.
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Technological advancements in radiopharmaceuticals and PET systems to propel market demand
Technological advancements in radiopharmaceuticals are significantly driving the growth of the PET market. The development of novel radiotracers, such as Gallium-68 and Fluorine-18-labeled compounds, has expanded PET applications beyond oncology to neurology, cardiology, and infectious diseases. These advancements enhance diagnostic accuracy by targeting specific biomarkers, enabling early and precise disease detection. Improved radiotracer production technologies, such as automated synthesis systems and compact cyclotrons, ensure a steady supply of high-quality radiopharmaceuticals, even in remote areas. This progress supports the growing demand for PET imaging in personalized medicine, further boosting its adoption across healthcare systems globally.
Rising applications in oncology and neurology are driving the market growth
Rising applications in oncology and neurology are key drivers of the PET market. In oncology, PET is invaluable for detecting, staging, and monitoring various cancers, offering precise insights into tumor activity and treatment effectiveness. Radiotracers like FDG enable early cancer detection and help tailor therapies. In neurology, PET aids in diagnosing neurodegenerative disorders such as Alzheimer’s and Parkinson’s by visualizing brain metabolism and amyloid plaques. It also helps assess epilepsy and monitor responses to neurological treatments. These expanding applications highlight PET’s role in improving clinical outcomes, driving its adoption in advanced diagnostic and therapeutic practices.
Competitive Landscape Analysis
The global positron emission tomography (PET) market is marked by the presence of established and emerging market players such as GE HealthCare, Koninklijke Philips N.V., Siemens Healthineers, Shimadzu Corporation, Canon Medical Systems Corporation, Neusoft Medical Systems Co., Ltd., Oncovision, Positron, MinFound Medical Systems Co., Ltd, and CMR Naviscan; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.
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Market Segmentation
This report by Medi-Tech Insights provides the size of the global positron emission tomography (PET) market at the regional- and country-level from 2023 to 2030. The report further segments the market based on product, application, end user.
- Market Size & Forecast (2023-2030), By Product, USD Million
- Standalone PET Systems
- PET/CT Systems
- Low-Slice Scanners
- Medium-Slice Scanners
- High-Slice Scanners
- PET/MRI Systems
- Market Size & Forecast (2023-2030), By Application, USD Million
- Oncology
- Neurology
- Cardiology
- Infectious Diseases
- Others
- Market Size & Forecast (2023-2030), By End User, USD Million
- Hospitals
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers (ASCs)
- Others
- Market Size & Forecast (2023-2030), By Region, USD Million
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
- North America
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
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