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Positron Emission Tomography Market size was nearly USD 1 billion in 2022 and is expected to record more than 5.5% CAGR from 2023 to 2032. Growing integration of X-ray computed tomography in PET will influence market growth.
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X-ray computed tomography (CT) imaging has increasingly been combined with PET (positron emission tomography) imaging over the years. Incorporating CT into PET imaging has a number of benefits, including improving the localization of functional abnormalities and improving the accuracy of PET imaging by providing detailed anatomical information. This reduces the need for additional CT scans, which can save time and lower the total radiation dose given to the patient.
|Market Size in 2022:||USD 1 Billion|
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||5.8%|
|2032 Value Projection:||USD 3 Billion|
|Historical Data for:||2018 to 2022|
|No. of Pages:||297|
|Tables, Charts & Figures:||532|
|Segments covered:||Product Type, Detector Type, End-use, and Region|
|Pitfalls & Challenges:|
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The short lifespan of radioisotopes is one of the significant factors that would impact the performance and price of PET scanners. The radioactive decay on the radioisotopes influences the quality of photos. Fewer positrons are produced by the radioisotope as it decays, which lowers image sensitivity and resolution. This indicates that when the radioisotope decays, the images generated by a PET scanner will become less precise and detailed over time, hampering market expansion.
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Positron emission tomography market share from the full ring PET scanner segment is predicted to record nearly 5.8% CAGR from 2023 to 2032. Therapeutic applications including oncology, cardiology, neurology, and psychiatry are largely utilizing full ring PET scanners. The adoption and advanced full ring PET scanners are likely to be driven by rising incidence of cancer, the growing geriatric population, demand for personalized medicine, developments in PET technology, and growing awareness of PET imaging over the forecast period.
Positron emission tomography market share from the Lutetium Oxyorthosilicate (LSO) segment is predicted to surpass USD 1.1 billion by 2032. LSO PET scanners have grown in popularity over time due to enhanced spatial resolution, high sensitivity, and the capacity to acquire images more quickly than previous-generation PET scanners. Healthcare practitioners use Monoverses PET scanners to diagnose and treat a variety of illnesses owing to their significant advantages over earlier generations of PET scanners.
Positron emission tomography market share from the diagnostic centers segment is predicted to observe more than 6% CAGR between 2023 and 2032. These healthcare facilities are extending their services to provide patients with a wider variety of diagnostic alternatives. The inclusion of PET imaging in these centers enhances their ability to offer more thorough testing for multiple disorders. PET scanners were previously expensive and were primarily utilized only in hospitals. With advancements in technology, the cost of purchasing PET scanners may reduce in the ensuing years, supporting its deployment in diagnostic centers.
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North America positron emission tomography market is expected to reach over USD 1.2 billion by 2032 due to the adoption of new medical technologies and the presence of developed countries in the region. The US has some of the best healthcare facilities that perform PET scans. The increasing disposable income of the population and rising healthcare spending are some of the factors that will promote market expansion in North America.
Neusoft Corporation, CMR Naviscan, Mediso Ltd, General Electric Company, Fujifilm Holdings., CANON MEDICAL SYSTEMS CORPORATION, Siemens Healthineers AG, Toshiba, Yangzhou Kindsway Biotech Co. Ltd, Radialis Inc., and Koninklijke Philips NV are some of the most prominent players in the global market. Companies are creating new strategies for the development of products, collaborations, mergers, and more.
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