Positron Emission Tomography Market Regional Analysis

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.