Hyderabad, Aug. 16, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Positron Emission Tomography Market Report (2023-2028)," the market is estimated at USD 1.05 billion in 2023. It is expected to register a CAGR of 3.71% during the forecast period.
Positron emission tomography (PET) is a diagnostic technique using radioactive tracers to image tissues and organ functioning. It has applications in oncology diagnosis, brain and heart function mapping, and drug development. Around 40 million nuclear medicine procedures are performed annually worldwide. The demand for radioisotopes is increasing by up to 5% every year. The industry is witnessing breakthrough technological advancements like time of flight (TOF) and hybrid imaging systems. Innovations in PET imaging, such as U-Net convolutional neural networks, enhance image quality and diagnostic capabilities. However, shorter radioisotope half-lives and regulatory guidelines challenge growth.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.05 billion |
| Market Size (2028) | USD 1.26 billion |
| CAGR (2023-2028) | 3.71% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing demand for PET analysis in radiopharmaceuticals. |
| The integration of CT with PET. |
Who are the Top Companies in the Global Positron Emission Tomography Market?
The market is consolidated. Players in the market are adopting strategies such as mergers, new product launches, acquisitions, and partnerships, to strengthen their market positions.
The significant players in the global positron emission tomography market are:
- Agfa Healthcare
- CMR Naviscan
- General Electric Company (GE Healthcare)
- Neusoft Corporation
- Oncovision
- Koninklijke Philips NV
- Positron Corporation
- Siemens Healthineers AG
- Segami Corporation
- Biosensors International (Spectrum Dynamics Ltd)
- Cardinal Health
- Mediso Ltd
Other Reports That Might Be of Your Interest:
- Computed Tomography (CT) Market Report - The global CT market size is expected to grow from USD 8.14 billion in 2023 to USD 10.95 billion by 2028, at a CAGR of 6.12% during the forecast period (2023-2028).
- Single Photon Emission Computed Tomography (SPECT) Market Report - The global SPECT market size is estimated at USD 2.16 billion in 2023. It is expected to reach USD 2.52 billion by 2028, at a CAGR of 3.20% during the forecast period (2023-2028).
Key Highlights from the Global Positron Emission Tomography Market Report:
Applications in Cancer Treatment
- PET scanners are used in clinical trials to assess therapeutic responses in cancer treatment using imaging biomarkers. 18F-FDG PET scanners, which detect changes in glucose metabolism, are widely used for oncology imaging.
- PET allows early detection of changes in neoplastic cell metabolism, indicating treatment effectiveness earlier than traditional methods.
- Increasing cancer cases, estimated to reach over 28 million by 2040, drive the need for early diagnosis and treatment, boosting PET scanner usage.
- Market players are employing strategies like product launches, collaborations, and acquisitions to expand their market presence.
Growth Potential in North America
- The North American positron emission tomography market is expected to experience growth due to technological advancements in PET imaging for oncology and diagnostics applications, driven by a high demand for precision diagnostics.
- The rising prevalence of cancer cases, such as breast and prostate cancer, further drives market expansion in North America. More PET scans are being installed in hospitals, aided by government funding.
- Overall, with technological advancements, rising cancer prevalence, and strategic initiatives, North America is poised to witness growth in the positron emission tomography market over the coming years.
What are the Latest Developments in the Global Positron Emission Tomography Market?
- In August 2022, Positron Corporation purchased its first PET-CT system from its partner Neusoft Medical Systems.
- In July 2022, Radialis Inc. received clearance to market the Radialis PET Imager, an organ-targeted positron emission tomography (PET) system, in the United States.
Mordor Intelligence has Segmented the Global Positron Emission Tomography Market Based on Product Type, Application, End-user, and Geography.
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Full Ring PET Scanners
- Partial Ring PET Scanners
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Cardiology
- Neurology
- Oncology
- Other Applications
- By End-user (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hospitals
- Diagnostic Centers
- Other End-Users
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Positron Emission Tomography Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- North America Computed Tomography (CT) Market Report - The North American CT market size is estimated at USD 2.71 billion in 2023. It is expected to reach USD 3.63 billion by 2028, at a CAGR of 5.97% during the forecast period (2023-2028).
- Asia-Pacific Computed Tomography (CT) Market Report - The Asia-Pacific CT market size is estimated at USD 2.54 billion in 2023. It is expected to reach USD 3.47 billion by 2028, at a CAGR of 6.46% during the forecast period (2023-2028).
- South America Computed Tomography (CT) Market Report - The South American CT market size is estimated at USD 492.11 million in 2023. It is expected to reach USD 624.49 million by 2028, at a CAGR of 4.88% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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