Rockville, MD, Oct. 21, 2024 (GLOBE NEWSWIRE) -- According to new research report published by Fact.MR, valuation of the global PET MRI market is expected to reach US$ 206.3 million in 2024 and climb to US$ 494.7 million by the end of 2034.
Primary factor driving demand for PET MRI systems is their increasing utilization in various healthcare fields such as neurology, cardiology, oncology, and musculoskeletal imaging. These systems enable medical professionals to analyze diseases in depth, aiding in early detection, precise staging, and treatment planning.
By allowing the simultaneous viewing of anatomical, functional, and molecular data, the combination of PET (positron emission tomography) and MRI (magnetic resonance imaging) is an excellent technological advancement that provides high-end insights into disease processes and treatment responses.
Through the concurrent assessment of metabolic activity, tissue perfusion, and structural morphology, PET MRI enhances diagnostic precision and expedites the early detection, staging, and monitoring of several disorders, including cancer, neurological conditions, and cardiovascular ailments. These techniques make it simple for medical providers to give patients individualized treatment programs based on their needs or issues, which improves clinical outcomes and fuels market expansion.
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Key Takeaways from Market Study
- The global PET MRI market is projected to expand at 1% CAGR from 2024 to 2034.
- North America is expected to hold 8% of the global market share in 2024.
- The East Asia market is forecasted to reach a valuation of US$ 91 million by the end of 2034, up from US$ 31 million in 2024.
- In 2024, the United States is set to hold 9% market share in the North American region.
- Under application, demand for clinical PET MRI systems is projected to reach a market value of US$ 426.6 million by the end of 2034.
- The market in South Korea is forecasted to expand at 2% CAGR through 2034.
- Based on product type, the integrated PET MRI segment is projected to generate revenue of US$ 340.3 million by 2034.
- Demand for simultaneous PET MRI scanners is forecasted to rise at 9% CAGR through 2034.
“Technologies that enable simultaneous data collection and precise spatial co-registration of PET and MRI images are enabling the seamless integration of these two medical imaging modalities to improve diagnostic accuracy and patient outcomes,” says a Fact.MR analyst.
Leading Players Driving Innovation in the PET MRI Market:
Key industry participants like Siemens AG; Hallmarq Veterinary Imaging; Koninklijke Philips N.V.; GE Healthcare; Time Medical Holdings; MR Solutions; United Imaging; Mediso Ltd.; Aspect Imaging; IMV Imaging., etc. are driving the PET MRI industry.
High Demand for Simultaneous PET MRI Scanners
Simultaneous PET MRI scanners are seen to be an important development in medical imaging technology since they speed up diagnostic processes and enhance patient experience. With simultaneous scanners, which need patient movement and separate scans, PET/MRI systems capture PET and MRI data concurrently. This integration improves workflow efficiency and diagnostic accuracy by cutting down on total scan time, reducing patient pain, and eliminating registration mistakes. These scanners are considered key systems in today's healthcare settings, maximizing clinical efficiency and enhancing patient experience since they seamlessly integrate PET and MRI modalities.
PET MRI Industry News:
- In April 2024, the PGI Department of Nuclear Medicine announced plans to acquire a PET-MRI system, marking the first of its kind among government facilities in northern India, including AIIMS, New Delhi. This advanced diagnostic device is used for detecting soft tissue malignancies, such as brain tumors and pelvic cancers.
- In January 2023, Esaote North America launched the Magnifico Vet MRI, offering fast and easy diagnostics for veterinary use. Similarly, in November 2022, Hallmarq Veterinary Imaging introduced its Zero-Helium Small Animal 1.5T MRI system, which uses a conduction-based cooling system instead of helium.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the PET MRI market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (integrated, separate, insert, hybrid), imaging technology (conventional, time of flight), image acquisition (sequential PET MRI scanners, simultaneous PET MRI scanners), application (pre-clinical PET MRI systems, clinical PET MRI systems), and end user (hospitals, diagnostic laboratories, research institutes, pharmaceutical & biopharmaceutical companies), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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