The Global Report Positron Emission Tomography Market by Product (Standalone PET Systems, PET/CT Systems, PET/MRI Systems), Application (Oncology, Cardiology, Neurology), End User (Hospitals & Surgical Centers, Diagnostic & Imaging Clinics) & Region – Global Forecasts to 2028″, The global positron emission tomography market is projected to reach USD 3.5 billion by 2028 from USD 2.5 billion in 2023, at a CAGR of 6.6% from 2023 to 2028. The major factors driving the growth of this market include rising geriatric population, various chronic diseases, and increasing healthcare expenditure increasing public-private funds and investments in emerging markets.
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Key Market Players:
As of 2022, prominent players in the positron emission tomography market are GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Canon Inc. (Japan), Shanghai United Imaging Healthcare Co., Ltd (China), and Shimadzu Corporation (Japan).
Positron Emission Tomography Market Dynamics:
Drivers:
- Growing adoption of multimodal PET imaging devices
Restraints:
- High Capital and operational costs
Opportunities:
- Increase in PET utilization for the detection of breast cancer
Challenges:
- Availability of alternate imaging technologies
The positron emission tomography (PET) market is expected to experience significant growth over the forecast period of 2023-2028. Among the different product segments, PET/CT systems are anticipated to register the highest growth rate. In 2022, the PET/CT segment accounted for the largest share of the market.
In terms of application, oncology accounted for the largest share of the PET market in 2022. It is also projected to grow at the highest compound annual growth rate (CAGR) during the forecast period. Factors such as the increasing incidence of cancer cases, the expanding geriatric population, and the introduction of integrated modalities contribute to the growth of PET products in oncology applications.
Among the various end users, hospital and surgical centers held the largest share of the positron emission tomography market in 2022. The growth of this segment can be attributed to factors such as increasing funds and healthcare expenditure dedicated to expanding healthcare infrastructure. These investments drive the adoption of PET technology in hospital and surgical center settings.
Overall, the PET market is expected to witness significant growth, with the PET/CT segment, oncology applications, and hospital and surgical centers emerging as key areas driving this expansion.
The Asia Pacific market to register the highest growth in the market during the forecast period
The Asia Pacific positron emission tomography market is estimated to register the highest growth from 2023 to 2028. The top and major players in the market are expanding their manufacturing facilities in the regions of APAC. This region is having a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.
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Recent Developments:
- In May 2021, Zionexa, a top innovator in in-vivo biomarkers for oncology and neurology, has been acquired by GE Healthcare. This acquisition will enable GE Healthcare to advance Zionexa’s pipeline biomarkers, as well as the recently FDA-approved PET imaging agent, Cerianna (fluoroestradiol F-18). Cerianna can be used in conjunction with biopsy to detect estrogen receptor (ER) positive lesions, providing valuable information for treatment selection in patients with recurrent or metastatic breast cancer. The aim is to bring these biomarkers to market and promote more personalized healthcare.
- In February 2023, United Imaging, a renowned global leader in advanced medical imaging and radiotherapy equipment, participated as a Platinum partner at Arab Health 2023 held in Dubai, UAE from January 30 to February 2. They showcased an extensive range of cutting-edge medical imaging devices including the HD TOF PET/MR uPMR 790, which is capable of producing high-quality images; the uCT 960+, a 16cm detector/640 slice CT scanner that is the fastest cardiac CT scanner in the world; the uMI 780, an ultra-fast high-resolution digital PET/CT scanner; the uMR 680, a 1.5T Wide Bore MRI System with “3T-like” performance, powered by uAiFI; and the uDR 380i Pro, the most compact mobile DR system.
- In May 2022, Mediso Ltd has recently acquired Bartec Technologies Ltd, a UK-based company that specializes in providing and supporting Nuclear Medicine and Molecular Imaging equipment and accessories.
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