Positron Emission Tomography (PET) Scanner Market - Global Size, Share, Trends, Growth and Forecast Year ( 2023 – 2032 )

Positron Emission Tomography (PET) Scanner Definition

Positron emission tomography (PET) is a medical imaging technique that uses radioactive tracers to produce detailed 3-dimensional images of the body's metabolic processes. PET scanners are specialized medical devices that are used to perform PET scans. PET scanners are increasingly being used in various medical applications such as cancer diagnosis, cardiology, neurology, and other applications

There are various types of PET scanners available in the market, which include whole-body scanners, dedicated brain scanners, and hybrid PET/CT scanners. Whole-body scanners are used to produce images of the entire body, while dedicated brain scanners are used to produce images of the brain only. Hybrid PET/CT scanners are used to produce both PET and CT images of the body.

Positron Emission Tomography (PET) Scanner Market Overview

The market size for Positron Emission Tomography (PET) Scanner Market was USD 1.0 billion in the year 2022. It is expected that the market size for Positron Emission Tomography (PET) Scanners will increase by approximately USD 1.7 billion by 2032 as the market for Positron Emission Tomography (PET) Scanner is continuously growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period 2023-2032. The PET scanner market is a small but growing market.

The PET scanner market is highly competitive. It has several large and small companies manufacturing and selling PET scanners. Some of the major players in the market are GE Healthcare, Siemens Healthineers, Philips Healthcare, and Toshiba Medical Systems. The market also witnesses the entry of several new players, which is expected to increase competition further.

Positron Emission Tomography (PET) Scanner Market Key Drivers

There are various factors which help in the growth of the Positron Emission Tomography (PET) Scanner Market. They are as follows:

• Increasing prevalence of cancer and other diseases: The increasing prevalence of cancer and other diseases worldwide is driving the growth of scanners as it is widely used in the diagnosis and staging of cancer.
• Advances in medical technology: The new advanced technologies in PET scanners are driving their growth. Technologies such as improved imaging and faster scan times are major factors.
• Growing demand for non-invasive diagnosis techniques: PET scanners are an attractive option for patients as they are non-invasive and do not require the use of needles.
• Increasing adoption of PET scanners in developing countries: There is a growth of healthcare infrastructure in developing countries which increases the demand for PET scanners.
• Government support and funding: To improve the diagnosis and treatment of diseases, the government and healthcare organizations are investing in PET scanners.
• Increasing demand for hybrid PET/CT scanners: The hybrid scanners provide both PET and CT images which are gaining popularity and help in more accurate diagnosis.
• Rising geriatric population: As the diseases like cancer and Alzheimer’s grow, there is a need for PET scanners which is driven by the growing geriatric population.

Positron Emission Tomography (PET) Scanner Market Challenges

There are many challenges which are faced by Positron Emission Tomography (PET) Scanner Market. They are listed below:

• High cost: The high cost of production act as a barrier. This may discourage hospitals and healthcare centers from purchasing them.
• Specialized training required: PET scanners require specialized training to operate, which may be a challenge for some hospitals and healthcare centers.
• Limited reimbursement: Reimbursement for PET scans is limited in some countries, which may discourage hospitals and healthcare centers from investing in PET scanners.
• Shortage of radioisotopes: There is a limited supply of radioisotopes which is required by PET scanners. This may lead to shortages of Pet scanners and their availability.
• Competition from other imaging technologies: There are other scanners available in the market such as CT scanners and MRI scanners which creates high competition and may affect the demand for PET scanners.
• Safety concerns: There may be a safety concern for patients and healthcare professionals due to the use of radioisotopes.
• Risk of radiation exposure to radiation: The risk of cancer may increase due to the use of radioisotopes which expose the patients to radiation. This may act as a challenge as patients may get discouraged opting for PET scans.

Positron Emission Tomography (PET) Scanner Market Regional Synopsis

• North America: There is a high adoption of advanced medical technologies due to which the North American market holds the largest share. There is also the presence of leading manufacturers and well-established healthcare infrastructure in the region.
• Europe: The European market is also considered a large market for PET scanners due to advanced medical technologies and the presence of leading manufacturers.
• Asia-Pacific: Due to the increasing adoption of PET scanners in developing countries like India and China, the Asia-Pacific market is expected to grow at the a higher CAGR during the forecast period. This is also due to several other factors such as growing healthcare infrastructure, and increasing awareness about the benefits of PET scanners.
• Latin America: The market of this region is growing moderately due to limited availability. The adoption of advanced medical technologies is also low in the Latin American market.
• Middle East and Africa: The limited availability of scanners led to a slow pace of growth in this region. The low adoption of advanced medical technologies is also a factor.

Positron Emission Tomography (PET) Scanner Market Segmentation

The Positron Emission Tomography (PET) Scanner Market is segmented into various categories which are listed below:

By product:

• Whole-body scanners
• Dedicated brain scanners
• Hybrid PET/CT scanners

By scanner type:

• 2D scanner
• 3D scanner

By radioisotope:

• FDG
• Sodium fluoride
• others

By end-user:

• Hospitals
• Diagnostic centres
• Research institutes

By geography:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Positron Emission Tomography (PET) Scanner Market Key Players

• GE Healthcare
• Siemens Healthineers
• Philips Healthcare
• Toshiba Medical Systems
• Hitachi Medical Corporation
• Positron Corporation
• Mediso Medical Imaging Systems.
• Triad Isotopes
• Naviscan PET Systems
• United Medical Systems
• Others