Positron Emission Tomography Market is Expected to Reach $3.5 billion | MarketsandMarkets.

Chicago, July 05, 2023 (GLOBE NEWSWIRE) -- In the near future, the positron emission tomography (PET) industry is poised for remarkable advancements and growth. With increasing understanding of the role of molecular imaging in disease diagnosis, monitoring, and treatment evaluation, PET is expected to become an indispensable tool in healthcare. Technological advancements in PET scanners, such as improved resolution, faster scanning times, and reduced radiation exposure, will enhance the accuracy and efficiency of PET imaging. Additionally, the development of novel radiotracers and targeted imaging agents will enable more precise and specific visualization of molecular processes in the body. The integration of PET with other imaging modalities, such as magnetic resonance imaging (MRI) and computed tomography (CT), will further enhance diagnostic capabilities and provide comprehensive information for clinicians. Moreover, the growing focus on personalized medicine and theranostics will drive the demand for PET imaging, as it plays a vital role in guiding targeted therapies and monitoring treatment response. Overall, the PET industry is poised to witness significant growth and innovation, revolutionizing disease management and improving patient outcomes in the near future.

Positron Emission Tomography market in terms of revenue was estimated to be worth $2.5 billion in 2023 and is poised to reach $3.5 billion by 2028, growing at a CAGR of 6.6% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Technological advancements and new product launches in the radiopharmaceuticals and PET systems, coupled with a growing target patient population, are the key factors driving the adoption of PET systems globally. PET scans are commonly used in the diagnosis, staging, and monitoring of cancer, as well as in the evaluation of neurological and cardiovascular diseases. With the growth in the geriatric population, the incidence of chronic diseases, such as cancer, Alzheimer's disease, and CVD, is increasing. This, in turn, is driving the demand for PET scans. In addition, the development of new PET tracers and the expansion of PET imaging into new clinical applications are also contributing to the increased use of PET scanners.

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Positron Emission Tomography Market Scope:

Report Coverage	Details
Market Revenue in 2023	$2.5 billion
Estimated Value by 2028	$3.5 billion
Growth Rate	Poised to grow at a CAGR of 6.6%
Market Size Available for	2020–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Application, End User, and Region
Geographies Covered	North America, Europe, Asia Pacific, Rest of the World
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Increase in PET utilization for the detection of breast cancer
Key Market Drivers	Growing adoption of multimodal PET imaging devices

Positron Emission Tomography market major players covered in the report, such as:

• GE Healthcare (US)
• Koninklijke Philips N.V. (Netherlands)
• Siemens Healthineers (Germany)
• Shanghai United Imaging Healthcare (China)
• Canon Inc. (Japan)
• Shimadzu Corporation (Japan)
• Mediso Ltd. (Hungary)
• Minfound Medical System Ltd. (China)
• Neusoft Corporation (China)
• and Among Others

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This report has segmented the global positron emission tomography market based on product, application, enduser, and region.

Global Positron Emission Tomography Market, by Product

• PET/CT Systems
• Low Slice Scanners
• Medium Slice Scanners
• High Slice Scanners
• PET/MRI Systems

Global Positron Emission Tomography Market, by Application

• Oncology Applications
• Neurological Applications
• Cardiovascular Applications
• Other Applications

Global Positron Emission Tomography Market, by End User

• Hospitals And Surgical Centers
• Diagnostic And Imaging Clinics
• Ambulatory Care Centers
• Other End Users

Positron Emission Tomography Market, by region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Rest of the World

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The key stakeholders in the Positron Emission Tomography market include:

• PET system manufacturers, suppliers, and providers
• PET software solution providers
• Private research institutions
• Private and public hospitals
• Diagnostic centers
• Imaging centers
• Surgical centers
• Consulting firms

Frequently Asked Questions (FAQs) of Positron Emission Tomography Market:

Q1. What is the total market value of Positron Emission Tomography Market report?

Q2. Which are the top companies holding the market share in Positron Emission Tomography Market?

Q3. Which are the largest regions for this Market?

Q4. What is the leading technology of Positron Emission Tomography Market?

Q5. What are the major drivers for this specific Market?

Q6. What are the upcoming key trends in the Positron Emission Tomography Market report?

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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.

Reasons to Buy the Report - The report provides insights on the following pointers:

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall positron emission tomography market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on the following pointers:

• Analysis of key drivers (rising target patient population, growing adoption of multimodal PET imaging devices, technological advancement, and increasing investment, funds, and grants by public-private organizations), restraints (high capital and operational cost, unfavorable regulatory guidelines), opportunities (improving healthcare infrastructure across emerging countries, PET utilization for breast imaging, promising product pipeline), and challenges (availability of alternate imaging technologies) influencing the growth of the positron emission tomography market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the positron emission tomography market
• Market Development: Comprehensive information about lucrative markets–the report analyses the positron emission tomography market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the positron emission tomography market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Canon Inc. (Japan), Shimadzu Corporation (Japan), and Minfound Medical System Ltd. (China).

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