The global positron emission tomography (PET) scanners market is projected to grow significantly over the next decade, increasing from an estimated USD 1.3 billion in 2023 to USD 2.1 billion by 2033, according to the latest market analysis. This growth represents a robust Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period.
The rise in adoption of PET scanners is attributed to the increasing prevalence of diseases such as cancer, Alzheimer’s, and other critical conditions. Hospitals and healthcare facilities are expanding their use of PET scanners to accurately detect both malignant and non-malignant tumors. In particular, PET technology has proven instrumental in diagnosing various cancers, including breast, lung, thyroid, ovarian, cervical, and neck cancers, further solidifying its role in modern diagnostic medicine.
In addition to its clinical applications, the PET scanner market is witnessing growth due to advancements in hybrid imaging systems that combine PET with complementary modalities, such as CT and MRI. Furthermore, the introduction of silicon photomultiplier (SiPM) technology and TSPO PET tracers are setting new benchmarks in imaging precision and efficiency. These innovations, coupled with stringent government regulations and the entry of new market players, are anticipated to drive market expansion.
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Key Takeaways:
- The PET scanners market is estimated at US$ 1.3 billion in 2023 and is projected to reach US$ 2.1 billion by 2033.
- CAGR: 5.3% from 2023 to 2033.
- Growing prevalence of diseases like cancer and Alzheimer’s is a significant demand driver.
- Advancements in hybrid imaging systems and SiPM technology are key contributors to market growth.
- Increased adoption in hospitals for detecting a wide range of cancers is accelerating market expansion.
As healthcare providers prioritize precise and early diagnostics, the positron emission tomography (PET) scanner market is set to play a critical role in revolutionizing patient care worldwide.
Key Market Drivers
- Increasing Prevalence of Diseases: The rising incidence of conditions such as cancer and Alzheimer’s disease is significantly driving the adoption of PET scanners for accurate diagnosis and monitoring.
- Demand from Hospitals: There is a growing need for PET scanners in hospitals for detecting both malignant and non-malignant tumors, which enhances the market’s growth prospects.
- Hybrid Imaging Systems Popularity: The increasing popularity of hybrid imaging systems, such as PET/CT and PET/MRI, is expected to boost market expansion due to their enhanced diagnostic capabilities.
- Technological Innovations: Advancements in technology, including the development of silicon photomultiplier (SiPM) technology and new PET tracers like TSPO, are contributing to the growth of the PET scanner market.
- Regulatory Support and New Entrants: Stringent government regulations ensuring safety and efficacy, along with new market entrants introducing innovative solutions, are further propelling market growth.
Competitive Landscape
Key players focus on novel and innovative approaches to develop positron emission tomography scanners. Production facility expansions, new product launches, and product approvals can strengthen their market presence
Some of the prominent players in the market are:
- G.E. Healthcare
- Toshiba Corporation
- Koninklijke Philips N.V.
- Siemens Healthineers
- Hitachi Medical Corporation
- Positron Corporation
- Mediso Ltd.
- Yangzhou Kindsway Biotech Co., Ltd
Recent Developments in the Positron Emission Tomography (PET) Scanners Market
- In March 2021, the USA FDA gave clearance to Siemens Healthineers’ Biograph Vision Quadra, a new PET/CT scanner with a large 106 cm axial field of view.
- In July 2021, G.E. healthcare collaboration with Quibim, Oncovision, and Full Body Insight to innovate PET/CT total-body scanners for whole-body imaging.
- In May 2021, G.E. Healthcare acquired Zionexa to scale Zionexa’s FDA-approved PET imaging agent, Cerianna (fluoroestradiol F-18). The product is used as an adjunct to biopsy to detect estrogen receptor (E.R.) positive lesions. It helps to assist healthcare providers in treatment selection for patients with recurrent or metastatic breast cancer.
Positron Emission Tomography (PET) Scanners Market by Category
By Product Type:
- Full-ring PET Scanner
- Partial-ring PET Scanner
By Application:
- Oncology
- Cardiology
- Neurology
- Others
By Detector Type:
- Bismuth Germanium Oxide
- Lutetium Oxyorthosilicate
- Gadolinium Oxyorthosilicate
- Lutetium Fine Silicate
- Lutetium Yttrium Orthosilicate
By End User:
- Hospitals
- Diagnostic Centers
- PET Centers
- Research Institute
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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