| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2019-2022 |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Positron Emission Tomography (PET) Scanners Market Size 2024 |
USD 1,305 million |
| Positron Emission Tomography (PET) Scanners Market, CAGR |
5.1% |
| Positron Emission Tomography (PET) Scanners Market Size 2032 |
USD 1,942.81 million |
Market Overview:
The Positron Emission Tomography (PET) Scanners Market size was valued at USD 1,305 million in 2024 and is anticipated to reach USD 1,942.81 million by 2032, at a CAGR of 5.1% during the forecast period (2024-2032).
The increasing prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological conditions is driving the demand for PET scanners, as they provide precise imaging for early disease detection and treatment planning. The growing adoption of PET-CT and PET-MRI hybrid systems is further fuelling market expansion by enhancing diagnostic accuracy and reducing radiation exposure. In addition, technological advancements in radiopharmaceuticals, including the development of novel tracers, have improved the effectiveness of PET scans in diagnosing various diseases. Furthermore, a rising geriatric population, which is more prone to chronic illnesses, is expected to accelerate the demand for PET scanners in diagnostic imaging. The integration of artificial intelligence (AI) in PET imaging is also streamlining data interpretation and workflow efficiency.
Regionally, North America dominates the market due to its advanced healthcare infrastructure, rising healthcare expenditure, and strong presence of key medical imaging companies. The availability of reimbursement policies for diagnostic imaging procedures in the United States further supports market growth. Europe holds a significant share, driven by increasing investments in healthcare infrastructure, government initiatives for cancer screening programs, and rising adoption of digital imaging solutions. In the Asia-Pacific region, the market is projected to witness the fastest growth due to expanding healthcare facilities, increasing awareness about early disease diagnosis, and growing investment in nuclear medicine imaging. Countries such as China, India, and Japan are witnessing a surge in demand for PET scanners due to their increasing patient population and improving healthcare access. Latin America and the Middle East & Africa are also showing gradual market growth, primarily driven by increasing healthcare spending and the establishment of diagnostic imaging centres.
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Market Insights:
- The Positron Emission Tomography (PET) Scanners Market is projected to grow from USD 1,305 million in 2024 to USD 1,942.81 million by 2032, at a CAGR of 5.1%.
- The rising prevalence of cancer, neurological disorders, and cardiovascular diseases is driving demand for early and accurate diagnosis using PET scanners.
- Technological advancements, such as digital PET scanners and hybrid systems like PET-CT and PET-MRI, are enhancing imaging precision and efficiency.
- The integration of PET technology with advanced radiopharmaceuticals for improved disease detection is further boosting market growth.
- High costs of PET scanners and limited access to advanced healthcare infrastructure in developing regions are key restraints.
- North America leads the market with a 40% share, supported by advanced healthcare infrastructure and significant investments in cancer research.
- The Asia-Pacific region is the fastest-growing market, driven by rising healthcare expenditure, ageing populations, and increasing awareness of advanced imageing technologies.
Market Drivers
Increasing Prevalence of Chronic Diseases
The rising incidence of chronic diseases, particularly cancer, cardiovascular disorders, and neurological conditions, is a significant factor driving the demand for PET scanners. For example, the World Health Organisation reports that cancer cases are expected to rise by about 70% over the next two decades. With cancer cases surging globally, PET scanners have become a crucial diagnostic tool in oncology, enabling early detection and accurate staging of tumours. Additionally, the growing burden of Alzheimer’s and Parkinson’s diseases has increased the adoption of PET imaging in neurology, assessing brain activity and detecting abnormalities at an early stage.
Technological Advancements in PET Imaging
Continuous advancements in PET scanner technology, including the development of digital PET systems, PET-CT, and PET-MRI hybrid imaging, are enhancing the accuracy and efficiency of diagnostic procedures. For example, digital PET scanners provide up to 70% higher sensitivity and better spatial resolution than conventional analogue systems, leading to reduced scan times and improved patient outcomes. Furthermore, AI-powered PET imaging is streamlining image reconstruction, reducing radiation dose requirements, and enhancing workflow efficiency, making PET scanners more accessible and effective in clinical settings.
Rising Investments in Healthcare Infrastructure
Governments and private organisations worldwide are investing heavily in healthcare infrastructure, leading to the expansion of diagnostic imaging facilities. For instance, the Indian government allocated USD 12.7 billion to healthcare in its 2021 budget, with a significant portion directed towards strengthening diagnostic infrastructure. Increased funding for nuclear medicine and medical imaging research is further accelerating the adoption of PET scanners. Additionally, several countries are integrating PET scanning into their national healthcare policies, offering reimbursement schemes that make PET scans more affordable and accessible to patients.
Growing Geriatric Population and Awareness About Early Diagnosis
The ageing global population is contributing to the increased prevalence of age-related diseases, driving the demand for early and accurate diagnostic solutions. For instance, the United Nations projects that by 2050, 1 in 6 people in the world will be over age 65, compared to 1 in 11 in 2019. As elderly individuals are more susceptible to chronic illnesses, the need for PET scanners for early detection and disease monitoring is growing. Moreover, rising awareness about the benefits of early diagnosis, particularly in cancer detection and neurological disorders, is pushing healthcare providers to integrate PET imaging into routine diagnostic procedures.
Market Trends
Adoption of Digital PET Technology
The transition from analogue to digital PET scanners is transforming the medical imaging landscape, offering enhanced image resolution, improved sensitivity, and reduced scan times. For instance, digital PET technology enables more precise quantification of tracer uptake, leading to better disease detection and monitoring. Additionally, the integration of silicon photomultiplier (SiPM) technology in digital PET scanners is further improving image quality and enabling early disease diagnosis, driving widespread adoption in hospitals and diagnostic centres.
Expansion of PET-CT and PET-MRI Hybrid Systems
The increasing preference for PET-CT and PET-MRI hybrid imaging systems is shaping the market, as these systems provide comprehensive diagnostic capabilities by combining functional and anatomical imaging. For example, PET-CT is widely used in oncology for accurate tumour localisation, while PET-MRI offers superior soft tissue contrast, making it particularly useful in neurology and cardiology applications. The adoption of hybrid PET scanners is rising as they enable faster diagnosis, reduce the need for multiple scans, and enhance patient comfort, ultimately improving clinical outcomes.
Integration of Artificial Intelligence in PET Imaging
The incorporation of AI-driven solutions in PET imaging is streamlining data interpretation, automating image analysis, and improving diagnostic accuracy. For instance, AI-powered algorithms enhance image reconstruction, reduce noise levels, and optimise radiation dose administration. Moreover, machine learning applications in PET imaging are aiding in early disease detection and personalised treatment planning. As AI continues to advance, its integration into PET scanners is expected to drive further improvements in diagnostic efficiency and clinical decision-making.
Increasing Use of Radiopharmaceuticals and Novel Tracers
The development of novel radiopharmaceuticals is expanding the applications of PET imaging beyond oncology into areas such as neurology and cardiology. For example, the growing availability of targeted PET tracers, including fluorodeoxyglucose (FDG), gallium-68, and amyloid-specific tracers, is enabling more precise disease characterisation. Additionally, the expansion of radiopharmaceutical production facilities and increased regulatory approvals for new PET tracers are fuelling the growth of PET imaging applications, contributing to overall market expansion.
Market Challenges Analysis
High Capital and Operational Costs
The significant financial investment required for PET scanner implementation poses a major barrier to widespread adoption, particularly in smaller healthcare facilities. Additionally, the National Service and Technology Review Advisory Committee states that total capital investment for a comprehensive PET facility setup exceeds $13 million, making it financially challenging for rural hospitals and clinics to adopt PET imaging. These high costs limit patient access to advanced diagnostics, particularly in underserved areas.Stringent regulatory frameworks and compliance requirements create further hurdles for PET facility operations. Additionally, the Centres for Medicare and Medicaid Services (CMS) report that reimbursement restrictions limit adoption, particularly for specialised scans like amyloid PET for Alzheimer’s disease, where most insurance policies allow only one scan per lifetime. These policies restrict patient access to critical diagnostic tools despite their effectiveness in early disease detection.
Limited Access to Radiotracers
The short half-life and complex supply chain of radiotracers present major challenges for PET imaging, particularly in rural and developing regions. With only 3,000 PET/CT systems operational in the United States, accessibility remains a major issue, especially for patients located far from cyclotron production facilities. These limitations increase scan costs and delay diagnostics, further restricting PET scanner utilisation in remote healthcare settings. Maintaining specialised personnel, infrastructure, and continuous equipment calibration remains a significant challenge in PET imaging facilities. The requirement for routine maintenance, calibration, and specialised training for nuclear medicine professionals creates additional operational burdens, particularly in regions with underdeveloped healthcare infrastructure. These constraints hinder the expansion of PET services and contribute to unequal access to advanced imaging technologies.
Market Opportunities
The Positron Emission Tomography (PET) Scanners Market presents significant opportunities fuelled by the rising prevalence of chronic diseases, particularly cancer, neurological disorders, and cardiovascular conditions. The increasing demand for advanced diagnostic tools that offer precise imaging for early disease detection and treatment monitoring creates robust growth potential. Innovations in hybrid imaging systems, such as PET-CT and PET-MRI, have further strengthened the market, delivering enhanced accuracy and detailed anatomical and functional insights. Additionally, technological advancements in digital PET scanners and improvements in radiopharmaceuticals are enhancing diagnostic performance, reducing scanning times, and providing clearer imaging results, addressing the growing need for efficient and non-invasive diagnostic methods.
Emerging markets, particularly in Asia-Pacific and Latin America, offer substantial growth opportunities due to improving healthcare infrastructure, increasing healthcare expenditures, and growing awareness of advanced imaging technologies. Countries like China, India, and Brazil are witnessing rising investments in cancer detection and treatment facilities, which will drive the adoption of PET scanners. The development of new radiotracers for targeted imaging applications, particularly in oncology and neurology, also opens avenues for innovation. Furthermore, government initiatives and public-private partnerships to improve access to diagnostic services and strengthen healthcare systems are expected to support market expansion. As healthcare providers prioritise early diagnosis and personalised treatment, the demand for PET scanners will continue to grow, creating long-term opportunities for manufacturers and healthcare institutions globally.
Market Segmentation Analysis:
By Product Type
The market is categorised into standalone PET systems, PET/CT systems, and PET/MRI systems. Among these, PET/CT systems dominate the market, accounting for approximately 75% of the share in 2023. This dominance is attributed to their ability to provide comprehensive diagnostic information by combining functional and anatomical imaging, which is particularly beneficial in detecting and managing complex diseases such as cancer, cardiovascular ailments, and neurological disorders. The fusion of PET and CT technologies allows for precise localisation of metabolic abnormalities, enhancing diagnostic accuracy and treatment planning.
By Application
PET scanners are utilised across various medical fields, including oncology, cardiology, neurology, and other applications. Oncology stands out as the leading application segment, holding a substantial market share due to the escalating prevalence of cancer worldwide. PET imaging is indispensable in oncology for tumour detection, staging, and monitoring therapeutic responses, as it enables visualisation of metabolic activity associated with malignancies. The ability of PET scans to detect cancerous cells at an early stage significantly influences patient management and outcomes.
By End-User
The primary end-users of PET scanners include hospitals, diagnostic and imaging clinics, ambulatory surgical centres, and other healthcare facilities. Hospitals and surgical centres constitute the largest share of the market, approximately 60% in 2023, owing to their capacity to handle a high volume of patients and their access to advanced diagnostic technologies. These institutions are equipped with the necessary infrastructure and financial resources to acquire and maintain sophisticated imaging systems, ensuring comprehensive patient care.
Segmentations:
Based on Product Type:
- Standalone PET Systems
- PET/CT Systems
- PET/MRI Systems
Based on the application:
- Oncology
- Cardiology
- Neurology
- Other Applications
Based on End-User:
- Hospitals
- Diagnostic & Imaging Clinics
- Ambulatory Surgical Centres
- Other Healthcare Facilities
Based on Region/Geography:
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Regional Analysis
North America
North America dominates the PET scanners market, holding 39.9% of the global share in 2024. The region benefits from advanced healthcare infrastructure, extensive R&D investments, and a high prevalence of cancer, driving demand for PET imaging solutions. The presence of leading medical imaging companies and favourable reimbursement policies further strengthens market expansion.
Europe
Europe holds a significant market share due to increasing adoption of advanced imaging technologies and strong government support for early disease detection initiatives. The rising focus on personalised medicine and oncology diagnostics continues to drive PET scanner installations across the region, with countries like Germany, the UK, and France leading in technology adoption.
Asia-Pacific
The Asia-Pacific region is expected to register 6.5% during the forecast period. This growth is fuelled by increasing healthcare investments, expanding medical infrastructure, and rising chronic disease prevalence. Countries such as China, India, and Japan are witnessing a surge in PET scanner demand due to improving healthcare accessibility and increasing awareness of early disease detection. Strategic investments by global players in this region further support market expansion.
Latin America & Middle East & Africa
Latin America and the Middle East & Africa regions are experiencing gradual market growth, driven by increasing healthcare expenditure and improvements in medical infrastructure. The growing awareness of early diagnostic imaging and government initiatives to enhance healthcare services are contributing to the adoption of PET scanners. While these regions currently hold a smaller market share, ongoing advancements in healthcare facilities and rising investment in diagnostic imaging are expected to boost market penetration.
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Key Player Analysis:
- GE Healthcare
- Siemens Healthineers
- Koninklijke Philips N.V.
- Canon Medical Systems Corporation
- Hitachi, Ltd.
- Positron Corporation
- United Imaging Healthcare Co., Ltd.
- Shimadzu Corporation
- Mediso Ltd.
- Cubresa Inc.
Competitive Analysis:
The Positron Emission Tomography (PET) Scanners Market is highly competitive, with leading players focusing on innovation, advanced imaging capabilities, and strategic collaborations to strengthen their market positions. GE Healthcare, Siemens Healthineers, and Philips Healthcare dominate the market, holding a combined market share of over 60%, driven by their strong portfolios of hybrid imaging systems like PET-CT and PET-MRI. For instance, Siemens’ Biograph Vision PET-CT systems have gained traction for offering higher resolution and faster scan times, with a 20% reduction in scan time compared to previous models. Canon Medical Systems and United Imaging Healthcare are expanding their presence by introducing cost-effective, next-generation digital PET scanners tailored for emerging markets. Companies like Hitachi and Mediso Ltd. are investing in developing compact and portable PET systems for research and clinical applications. The growing demand for radiotracers and personalised diagnostics further intensifies competition, driving advancements in technology and accessibility, particularly in regions like Asia-Pacific and Europe.
Recent Developments:
- In June 2024, Positron Corporation acquired the FDA 510(k) clearance for the NeuSight PET-CT system, enabling its marketing and sale in the U.S. market.
- In July 2024, Positron introduced the NeuSight PET-CT 3D 64-slice scanner, designed to enhance imaging precision and operational efficiency in nuclear cardiology practices and hospitals.
- In August 2024, Positron announced the sale of a NeuSight PET-CT 64-slice scanner to a leading cardiovascular services provider, marking a significant milestone in its market expansion.
- In June 2024, Siemens Healthineers introduced the Biograph Trinion, a high-performance, energy-efficient PET/CT scanner designed to address diverse clinical needs, including oncology and neurology.
Market Concentration & Characteristics:
The Positron Emission Tomography (PET) Scanners Market is moderately concentrated, with a strong presence of global players and increasing competition from emerging companies. Industry leaders such as GE Healthcare, Siemens Healthineers, and Philips Healthcare hold a dominant share, driven by continuous innovation, robust product portfolios, and global market reach. These companies focus on developing advanced technologies, including digital PET scanners and hybrid systems like PET-CT and PET-MRI, to enhance diagnostic precision and imaging quality. The market is characterised by a growing demand for hybrid imaging solutions, which offer superior functional and anatomical insights for oncology, neurology, and cardiology applications. Emerging players like United Imaging Healthcare and Mediso Ltd. are gaining traction by offering cost-effective and compact solutions, particularly in emerging markets. Furthermore, increasing investments in radiotracer development and expanding healthcare infrastructure in regions such as Asia-Pacific highlight the market’s dynamic and evolving nature.
Report Coverage:
The research report offers an in-depth analysis based on product type, application, and end user. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, a SWOT analysis, and current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook
- The Positron Emission Tomography (PET) Scanners Market will experience steady growth driven by increasing demand for advanced imaging solutions for cancer, neurology, and cardiology diagnostics.
- Advancements in hybrid imaging systems, particularly PET-CT and PET-MRI, will enhance diagnostic precision and reduce scan times, driving adoption.
- The development of digital PET scanners with improved sensitivity and resolution will accelerate market growth, particularly in oncology and neurological applications.
- Increasing investments in radiotracer innovations and the introduction of new biomarkers will expand the scope of PET imaging for personalised and targeted therapies.
- Growing prevalence of chronic diseases, including cancer and neurological disorders like Alzheimer’s, will amplify the need for early and accurate diagnosis.
- Emerging markets in the Asia-Pacific region will witness significant growth due to rising healthcare infrastructure, ageing populations, and increasing awareness of advanced imageing technologies.
- Technological advancements such as AI integration and real-time data analytics will improve image interpretation and enhance clinical efficiency.
- Rising healthcare expenditure and government initiatives for improved diagnostic capabilities will fuel PET scanner installations globally.
- Expanding adoption of portable and mobile PET scanners will increase accessibility to advanced imaging in remote and underserved regions.
- Collaborations between healthcare providers, research institutions, and market players will drive innovation, ensuring continuous improvements in imaging technology and patient outcomes.
