USD 2.52 Billion
Positron Emission Tomography Market Size, Share, and Growth Analysis
Positron Emission Tomography Market By Product (Standalone PET Systems, PET/CT Systems), By Application (Oncology Applications, Neurological Applications), By End User (Hospitals & Surgical Centers, Diagnostic & Imaging Clinics), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35D2276 |
Region:
Global |
Published Date: November, 2024
Pages:
204
|Tables:
89
|Figures:
71
Format -
Positron Emission Tomography Market Insights
Positron Emission Tomography Market size was valued at USD 2.52 Billion in 2023 and is poised to grow from USD 2.69 Billion in 2024 to USD 4.49 Billion by 2032, growing at a CAGR of 6.61% during the forecast period (2025-2032).
The increase in the incidence of life-threatening diseases such as cancer and Alzheimer's disease is one of the major driving forces behind the demand for PET scans. These are diseases that need advanced imaging technologies to deploy diagnosis and give continuous care. The scan becomes a necessity since it can provide information on all physiological and metabolic activities occurring within the body. This capacity is significant for properly assessing and managing long-term conditions, which would enhance patient outcomes and treatment efficacy. With the rise in chronic illnesses, the demand for targeted therapeutics and personalized medicine is on the increase. PET scans are equipped with much significance because they offer very vital information that contributes to the personalization of therapies based on specific patient demands and situations. Personalized techniques have pushed the capacity to measure both the development and therapeutic response of diseases. Moreover, molecular imaging technology developments and the inclusion of AI and machine learning in scans hugely enhance the potential of PET scans. Such technological advances have allowed for more accurate and efficient imaging techniques that open a way to better identification and follow-up of illnesses. Consequently, PET scans find their application in research and clinical diagnostics day by day, thus finding their acceptance in all spheres of medical specialties and giving a push to the overall growth in the market.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Oncology
Fastest Growth
Cardiology
Growth Rate
6.61% CAGR
Global Positron Emission Tomography Market ($ Bn)
Country Share for North America Region (%)
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Positron Emission Tomography Market Segments Analysis
Global Positron Emission Tomography Market is segmented by Product, Application, End User, and Region. Based on Product, the market is segmented into Standalone PET Systems, PET/CT Systems (Low-Slice Scanners, Medium-Slice Scanners, High-Slice Scanners), PET/MRI Systems. Based on Application, the market is segmented into Oncology Applications, Neurological Applications, Cardiovascular Applications, Other Applications. Based on End User, the market is segmented into Hospitals & Surgical Centers, Diagnostic & Imaging Clinics, Ambulatory Care Centers, Other End Users. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis By Application
The oncology segment is dominant in the Positron Emission Tomography Market. This has been highly expected since the increase in the burden of cancer incidence raises demand for superior technologies for the screening and monitoring of conditions. For this, PET scans represent the seminal modality for delineating malignancies and quantifying tumor metabolism, along with assessing the response of cancers to treatments. They find their application in the staging of malignancies such as lung, breast, and colorectal. According to the National Library of Medicine, because of early and correct diagnosis made possible by PET scans, treatments could be instituted on time and patient outcomes greatly improved. This key role in oncology points out the huge demand for and reliance on PET technology in this industry.
The cardiology segment is expected to show the fastest growth rate during the forecast period. This growth is attributed to the increased prevalence of cardiovascular diseases and the higher demand for non-invasive diagnostic and therapeutic options available for cardiovascular diseases. As highlighted in the paper "Epidemiological Features of Cardiovascular Disease in Asia," brought out by JACC journals, CVD continues to be the leading cause of death and premature morbidity globally. Thus, increasing awareness of CVD and the consequent need for superior imaging options serve to accelerate the growth within the cardiology segment of the positron emission tomography market.
Analysis By End Use
The Hospital sector accounted for the major share of revenue with about 52.20% in the year 2023 and dominated the sector of the positron emission tomography market. Hospitals deal with the high inflow of patients and have access to advanced diagnostic tools, inclusive of the recent models of PET scanners. With the advancement of modern systems, hospitals can provide full treatment medically, along with diagnostic accuracy. In addition, there are already established referral networks with insurance carriers in hospitals, which is very important as the PET scan is a very expensive modality. Health insurance mostly covers the costs of PET scans carried out in hospitals, relieving financial burden from the patients and increasing access to these important diagnostic devices. This coupling of advanced technology with insurance coverage is what makes the hospitals the leading player within the PET market. Diagnostic imaging institutes will see the highest growth rate during the forecast period in the positron emission tomography market.
Research Institutes have been expanding their portfolio of services, which include a comprehensive range of diagnostic services. The PET scan is one of the key services from the portfolio of such institutes. Technical advancement has reduced the price of the PET scanner, which was otherwise very high, enabling diagnostic imaging institutes to invest and provide this service at reasonable prices. This price drop, along with the increase in demand for sophisticated diagnostic testing, gives imaging centers the power to attract more customers and thus to provide competitive prices. Consequently, with these factors acting to their advantage, imaging centers are increasing, thus retaining a stronger foothold in diagnostic imaging.
Global Positron Emission Tomography Market By Application
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Positron Emission Tomography Market Regional Insights
By revenue share, North America accounted for about 34.11% of the market in 2023. The solid demand for precision diagnosis, coupled with technological advances in PET imaging for cancer and advanced diagnostic applications, provides a considerable impetus to market growth. This trend is additionally driven by the growing incidence of cancer, especially prostate and breast cancers. According to an update from the American Cancer Society in 2022, it is projected that there will be an estimated 1,918,030 new cancer cases diagnosed in the US in 2022, which includes an estimated 290,560 new cases of invasive breast cancer, 268,490 new cases of invasive prostate cancer, and 151,030 new cases of invasive colorectal cancer. These figures illustrate precisely how immense a need there is for better cancer imaging tools.
However, Europe is expected to grow significantly during the projection period. As the European market is characterized by high research collaboration and favorable regulatory policies for novel imaging. Germany and France, with their massive investments in medical research and relatively good healthcare infrastructure, are the leading adopters of new PET technologies in the region. The efforts made by the European Union to promote early disease detection with the aid of advanced imaging modalities further propel the growth of this market. There is a shift to incorporate AI into PET imaging to better patient management techniques, thereby hastening these processes while improving diagnosis accuracy.
Global Positron Emission Tomography Market By Geography
- Largest
- Fastest
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Positron Emission Tomography Market Dynamics
Drivers
Increasing Prevalence of Chronic Diseases
- The increasing prevalence of chronic diseases, such as cancer, Alzheimer's disease, and cardiovascular disorders, is one of the major driving forces behind the market growth. Most of the disorders require advanced imaging for diagnosis and monitoring. In this sense, PET scans are indispensable, as they offer detailed information about metabolic and physiological processes, very much essential for successful treatment planning and management of the disease. The rise in patients with chronic diseases globally creates demand for PET scans, hence driving the growth of the market. This trend shows how advanced diagnostic tools cope with the complexity associated with managing chronic medical conditions.
Technological Advancements
- Technical advances in molecular imaging, AI, and machine learning applications contribute to the progress of PET scans. PET scans are particularly successful in both clinical and research settings because of improved picture quality, faster scan times, and higher diagnostic accuracy. These improvements expand the applications of the PET scans and minimize operational difficulties they can provide. As technology advances, PET scans are getting more appealing and useful, which encourages wider usage and has helped the market grow.
Restraints
High Costs of PET Scanners
- The high costs of PET scanners remain one of the market’s main challenges. High costs related to the purchase, operation, and maintenance of these advanced imaging machines are some of the other key issues. To smaller medical institutions or diagnostic labs with tighter finances, this may be very expensive. The high upfront and ongoing costs can become a limiting factor in the availability and accessibility of PET scans, especially in resource-poor settings. For this reason, the high prices for PET scanners may be inhibitive to the growth witnessed in the market and the applications this technology has.
Regulatory and Reimbursement Barriers
- There are several regulatory and reimbursement challenges that the positron emission tomography market faces, which it can be assumed will inhibit growth. Rigorous processes for clearance and compliance may delay the introduction of new PET scan technology and applications. In addition, different regions have different payment regulations that may influence the cost viability of running a PET scan operation. These differences in coverage and rates of payment can mean that patients have limited access to PET scans, dampening the overall market growth and the ability of healthcare providers to provide these advanced diagnostic services.
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Positron Emission Tomography Market Competitive Landscape
Global Positron Emission Tomography market is fiercely competitive, with major players such as Siemens Healthineers, GE Healthcare, and Philips Healthcare, which forge ahead through technical innovation and extensive product portfolios. These companies are competing to develop enhanced PET technologies while integrating AI for precision in diagnosis. Small-scale companies and recent entrants join in by offering specialized solutions and lower prices. The market players are working towards continuous innovations and strategic alliances to achieve more capability and better market access.
Top Players in Positron Emission Tomography Market
- General Electric
- Koninklijke Philips N.V.
- Siemens Healthineers
- Shanghai United Imaging Healthcare Co., Ltd
- Canon Inc.
- Shimadzu Corporation
- Mediso Ltd.
- MinFound Medical Systems Co., Ltd
- Neusoft Corporation
- Bruker
- CMR Naviscan
- Kindsway Biotech
- Hermes Medical Solutions
- Sofie Biosciences
- Prescient Medical Imaging
- Reflexion
- Cubresa Inc.
- Synchropet, Inc.
- Novartis
- Revvity Inc.
Recent Developments
- In May 2024, Canon Medical Systems announced the first placement of the Aquilion Serve SP CT scanner with INSTINX, AI-driven workflow automation, in the United States at Steinberg Diagnostic Medical Imaging, Las Vegas, NV. The Aquilion Serve SP CT scanner redefines medical imaging by putting excellent image quality together with enhanced throughput, consistency, and operational efficiency.
- In April 2024, CDL Nuclear Technologies, Inc. introduced the world's very first Mobile dedicated Cardiac PET/CT Trailer, designed to change the concept of cardiac care right at the doorstep of any medical facility in accordance with convenience.
- In July 2022, FDA allowed Radialis Inc. to market its organ-targeted positron emission tomography system called the Radialis PET Imager in the United States. The extreme sensitivity to radiotracer of the Radialis PET Imager allows this system to offer functional images with excellent spatial resolution while enriching the information available from molecular imaging.
Positron Emission Tomography Key Market Trends
- Machine Learning combined with Artificial Intelligence: The integration of AI and machine learning into the scanning equipment is basically the trend that forces a leading pace in the industry. AI algorithms improve picture capture, reconstruction, and analysis for better diagnostic accuracy and speed. These advantages involve improved identification of minor anomalies, more exact tumor characterization, and faster times of scans. Machine learning algorithms might be used to predict patient outcomes and personalize treatment strategies with the help of imaging data. With the continuous improvement and development in AI and machine learning, their involvement is expected to bring great changes to the capability of PET scan capability, therefore making it more useful and available to both clinical and research settings.
- Expanding PET Imaging Applications: Another major trend undertaken in the market is increasing applications of imaging. The main applications of PET imaging, apart from cancer diagnosis, are seen in cardiology and neurology owing to the requirement of diagnosing various ailments such as cardiovascular diseases and neurological problems. Improvement in molecular imaging has resulted in an increase in the worth of PET in the study of disease mechanisms and in gauging therapy responses in these fields. Further research focuses on the application of PET in studying and developing medication, including personalized treatment. This wider range of applications is creating further demand for the performance of PET scans, which acts positively toward the growth in the market by offering more complete diagnostic options for a wide array of medical fields.
Positron Emission Tomography Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growth of the positron emission tomography market is driven by the rise in chronic diseases, development of technology, and increased applications for PET scans in several medical fields. The integration of AI and machine learning enhances the accuracy and speed of diagnosis, while the increasing role of PET in cancer, cardiology, and neurology furthers its importance. The market is innovating solutions, nonetheless, not being held back by excessive costs and bureaucratic hurdles; it is also growing with an expanded service offering. As technology advances and new uses are being found, the positron emission tomography market will be able to continue playing an important role in the advancement of medical diagnostics and patient outcomes globally.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.52 Billion |
| Market size value in 2032 | USD 4.49 Billion |
| Growth Rate | 6.61% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Positron Emission Tomography Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Positron Emission Tomography Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Positron Emission Tomography Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Positron Emission Tomography Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Positron Emission Tomography Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Positron Emission Tomography Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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