The global positron emission tomography (PET) scanners market is projected to be valued at USD 1.3 billion in 2023 and is expected to grow significantly, reaching USD 2.1 billion by 2033. This growth is driven by a compound annual growth rate (CAGR) of 5.3% over the forecast period.
Several factors are fueling the expansion of the PET scanners market, including the increasing prevalence of cancer and neurological disorders, where PET scans play a critical role in early diagnosis and treatment planning. Additionally, advancements in PET imaging technology, such as the integration of new radiotracers and improved scan resolution, are further boosting market adoption.
Short Life PET Scanners Limit the Market Growth
Although the efficacy of PET scanners has been established, continuous reimbursement cutbacks are affecting the market’s growth. Players have been declined reimbursement for these products worldwide, which has resulted in a reduced number for outpatient volume, thus affecting access to high-quality and cost-effective diagnostic imaging services.
Apart from this, radiopharmaceuticals used during PET scanning procedures have a short life. The systems utilize radioisotope tracers to gain better imaging capabilities, thus providing more specific information about organ function or dysfunction.
The most common radiotracer is fluorodeoxyglucose (FDG), which incorporates fluorine-18 as a tracer. It is the most used radiotracer in PET scanning and imaging. However, the radiotracer has a half-life of just under 2 hours, limiting its utility.
Competitive Landscape
Key players focus on novel and innovative approaches to develop positron emission tomography scanners. Production facility expansions, new product launches, and product approvals can strengthen their market presence
Some of the prominent players in the market are:
- G.E. Healthcare
- Toshiba Corporation
- Koninklijke Philips N.V.
- Siemens Healthineers
- Hitachi Medical Corporation
- Positron Corporation
- Mediso Ltd.
- Yangzhou Kindsway Biotech Co., Ltd
Recent Developments in the Positron Emission Tomography (PET) Scanners Market
- In March 2021, the USA FDA gave clearance to Siemens Healthineers’ Biograph Vision Quadra, a new PET/CT scanner with a large 106 cm axial field of view.
- In July 2021, G.E. healthcare collaboration with Quibim, Oncovision, and Full Body Insight to innovate PET/CT total-body scanners for whole-body imaging.
- In May 2021, G.E. Healthcare acquired Zionexa to scale Zionexa’s FDA-approved PET imaging agent, Cerianna (fluoroestradiol F-18). The product is used as an adjunct to biopsy to detect estrogen receptor (E.R.) positive lesions. It helps to assist healthcare providers in treatment selection for patients with recurrent or metastatic breast cancer.
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Positron Emission Tomography (PET) Scanners Market by Category
By Product Type:
- Full-ring PET Scanner
- Partial-ring PET Scanner
By Application:
- Oncology
- Cardiology
- Neurology
- Others
By Detector Type:
- Bismuth Germanium Oxide
- Lutetium Oxyorthosilicate
- Gadolinium Oxyorthosilicate
- Lutetium Fine Silicate
- Lutetium Yttrium Orthosilicate
By End User:
- Hospitals
- Diagnostic Centers
- PET Centers
- Research Institute
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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