Global Positron Emission Tomography (PET) Scanners Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Product Type;

Full Ring PET Scanner and Partial Ring PET Scanner.

By Application;

Oncology, Cardiology, Neurology and Others.

By Detector Type;

Bismuth Germanium Oxide (BGO), Lutetium Oxyorthosilicate (LSO), Gadolinium Oxyorthosilicate (GSO), Lutetium Fine Silicate (LFS) and Lutetium Yttrium Orthosilicate.

By End User;

Hospitals, Diagnostic Centres, PET Centres and Research Institutes.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn553680501 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Positron Emission Tomography (PET) Scanners Market (USD Million), 2020 - 2030

In the year 2023, the Global Positron Emission Tomography (PET) Scanners Market was valued at USD 1,143.50 million. The size of this market is expected to increase to USD 1,538.51 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 4.3%.

Global Positron Emission Tomography (PET) scanners have emerged as indispensable tools in medical imaging, enabling clinicians to visualize and evaluate physiological processes within the human body with remarkable precision. PET scanners utilize radiotracers to detect positron emissions emitted by metabolically active tissues, offering insights into various conditions such as cancer, neurological disorders, and cardiovascular diseases. The market for PET scanners has witnessed significant growth in recent years, driven by technological advancements, increasing prevalence of chronic diseases, and rising healthcare expenditure worldwide. Moreover, the demand for early and accurate diagnosis, coupled with growing awareness about the benefits of molecular imaging, has further fueled the adoption of PET scanners across diverse medical settings.

One of the key drivers propelling the growth of the global PET scanners market is the escalating incidence of cancer. PET imaging plays a crucial role in cancer diagnosis, staging, treatment planning, and monitoring response to therapy. With the rising burden of cancer globally, there is a growing need for advanced imaging modalities like PET scanners to facilitate timely and precise management of the disease. Furthermore, ongoing research and development activities aimed at expanding the application of PET imaging beyond oncology, such as in neurology and cardiology, are anticipated to drive market growth in the coming years.

Technological innovations and enhancements in PET scanner design and functionality are also contributing significantly to market expansion. Manufacturers are continually striving to develop more sensitive, accurate, and cost-effective PET scanners that offer improved image quality, faster scanning times, and enhanced patient comfort. Integration of artificial intelligence (AI) and machine learning algorithms into PET imaging systems is further augmenting diagnostic capabilities and streamlining workflow efficiency. These advancements are not only broadening the clinical utility of PET scanners but also making them more accessible to healthcare providers, thereby boosting market penetration and adoption rates.

Challenges such as high initial capital investment, limited reimbursement policies, and shortage of skilled professionals may impede the growth of the global PET scanners market to some extent. Additionally, the ongoing COVID-19 pandemic has posed temporary setbacks, disrupting supply chains and delaying elective procedures, thereby impacting the demand for imaging equipment including PET scanners. Nevertheless, with the gradual resumption of routine healthcare services and increasing emphasis on preventive care and early disease detection, the market is expected to rebound, presenting lucrative opportunities for stakeholders in the PET imaging industry. Overall, as the importance of molecular imaging in personalized medicine continues to grow, the global PET scanners market is poised for sustained expansion in the foreseeable future.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Detector Type
    4. Market Snapshot, By End User
    5. Market Snapshot, By Region
  4. Global Positron Emission Tomography (PET) Scanners Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological advancements in imaging
        2. Increasing prevalence of cancer
        3. Growing healthcare expenditure
        4. Rising demand for early diagnosis
        5. Expansion of healthcare infrastructure
      2. Restraints
        1. High initial investment costs
        2. Limited reimbursement policies
        3. Regulatory hurdles
        4. Shortage of skilled professionals
        5. Concerns regarding radiation exposure
      3. Opportunities
        1. Emerging markets expansion
        2. Development of portable scanners
        3. Integration with artificial intelligence
        4. Growing research collaborations
        5. Rising awareness campaigns
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Positron Emission Tomography (PET) Scanners Market, By Product Type, 2020 - 2030 (USD Million)
      1. Full Ring PET Scanner
      2. Partial Ring PET Scanner
    2. Global Positron Emission Tomography (PET) Scanners Market, By Application, 2020 - 2030 (USD Million)
      1. Oncology
      2. Cardiology
      3. Neurology
      4. Others
    3. Global Positron Emission Tomography (PET) Scanners Market, By Detector Type, 2020 - 2030 (USD Million)
      1. Bismuth Germanium Oxide (BGO)
      2. Lutetium Oxyorthosilicate (LSO)
      3. Gadolinium Oxyorthosilicate (GSO)
      4. Lutetium Fine Silicate (LFS)
      5. Lutetium Yttrium Orthosilicate
    4. Global Positron Emission Tomography (PET) Scanners Market, By End User, 2020 - 2030 (USD Million)
      1. Hospitals
      2. Diagnostic Centres
      3. PET Centres
      4. Research Institutes
    5. Global Positron Emission Tomography (PET) Scanners Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
      5. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
  6. Competitive Landscape
    1. Company Profiles
      1. GE Healthcare
      2. Toshiba Corporation
      3. Koninklijke Philips N.V.
      4. Siemens Healthineers
      5. Hitachi Medical Corporation
      6. Positron Corporation
      7. Mediso Ltd.
      8. Yangzhou Kindsway Biotech Co., Ltd
  7. Analyst Views
  8. Future Outlook of the Market