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Positron Emission Tomography Devices (PET) Market Size, Trends and Growth Analysis By Product Type (Full Ring and Partial Ring PET Scanners), Applications (Cardiology, Oncology, Neurology, and Others), End User (Hospitals, and Others) ‚Äď Global Forecast Till 2032


ID: MRFR/HC/5787-HCR | 90 Pages | Author: Rahul Gotadki| April 2024

Positron Emission Tomography Devices Market Overview:


The global Positron Emission Tomography Devices Market size is expected to grow at CAGR of 6.5% to reach USD 1.06 Billion during the forecasted 2023-2032.


Contrast media injectors are medical devices utilized to inject CM into the body to enhance the visibility of tissues for different medical imaging procedures. These procedures include computed tomography, magnetic resonance imaging, positron emission tomography, or magnetic resonance. CM injectors find extensive applications in radiology, interventional cardiology, ambulatory surgical centers, and diagnostic imaging centers across the globe. They have evolved from simple, manual injectors to automated injectors that precisely control the amount of the CM agent used, facilitate automated data collection, and warn about potential hazards, such as air embolisms or extravasations.


Some of the factors driving the market growth include the increasing demand for PET analysis in radiopharmaceuticals and the integration of X-ray tomography into PET. According to the World Nuclear Association April 2021, around 10,000 hospitals use radioisotopes in medicine worldwide, and about 90% of the procedures are for diagnosis. As per the same source, in developed countries, the frequency of diagnostic nuclear medicine is 1.9% per year, and the frequency of therapy with radioisotopes is about one-tenth.


Segmentation


The positron emission tomography devices (PET) market is segmented based on product type, applications, end user and region.


The global market for positron emission tomography devices (PET), by product type is segmented into full ring PET scanners and partial ring PET scanners.


The market, by applications, is segmented into cardiology, neurology, oncology, orthopaedics, urology, gastroenterology, and others


Based on end user, positron emission tomography devices (PET) market is segmented into hospitals, clinics, diagnostic centres, and others. The hospitals segment is anticipated to hold the largest market share owing to the increasing cases of cancer. The diagnostic centres are expected to grow at the highest CAGR owing to the rising demand for early diagnosis.


In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely the Americas, Europe, Asia-Pacific and the Middle East & African region.


The positron emission tomography devices (PET) market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.


The European positron emission tomography devices (PET) market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The positron emission tomography devices (PET) market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The positron emission tomography devices (PET) market in the Middle East & Africa has been segmented into the Middle East and Africa.


Regional Market Summary


Global Positron Emission Tomography Devices (PET) market Share (%), by Region, 2017


Positron Emission Tomography Devices (PET) market


Sources: MRFR Analysis


The Americas dominated the global market for positron emission tomography devices (PET) owing to presence of major market players and increased prevalence of Alzheimer's dementia within the region. As per the data suggested by the Alzheimer's Association, an estimated 5.7 million Americans of all ages are living with Alzheimer's dementia in 2018.


Europe is expected to hold the second largest position in the global positron emission tomography devices (PET) market. The market growth in this region is attributed to the government support and improving healthcare related research & development activities.


Asia Pacific was projected to be the fastest growing region in 2017. Factors such as, growing cases of head and neck cancer, and increasing healthcare expenditure drives the regional markets of the Asia Pacific region. According to the 2018 data suggested by the Australian Institute of Health and Welfare, around 5,091 new cases of head and neck cancer were diagnosed and around 1,034 number of deaths occurred from head and neck cancer in Australia.


On the other hand, the Middle East and Africa held least share in the global positron emission tomography devices (PET) market due to the low per capita income, especially within the African region.


Key players


Some of the key players in the global positron emission tomography devices (PET) market are Agfa Healthcare, Gamma Medica Inc., GE Healthcare, Neusoft Medical Systems, Oncovision, Koninklijke Philips N.V., Positron Corporation, Siemens AG, Segami Corporation, Spectrum Dynamics Ltd., Naviscan, Inc. MedX Holdings Inc., Modus Medical Devices Inc., Radiology Oncology Systems, Inc., Yangzhou Kindsway Biotech Co. Ltd., Toshiba Corporation, Hitachi, Ltd., and others.


Research Methodology


Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analysing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.



  • Primary Research


Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this particular report we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.



  • Secondary Research


Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the Positron Emission Tomography Devices (PET). It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.


Recent Development


May 2021


In May 2021, GE Healthcare strengthened its PET imaging portfolio with the acquisition of Zionexa, a prominent innovator of in vivo oncology and neurology biomarkers that help enable more personalized healthcare. Thus, the above factors are expected to drive market growth. However, factors such as the shorter half-life of radioisotopes and stringent regulatory guidelines are expected to impede market growth in the near future.


November 2020


According to a research study by Adeline N. Boettcher et al., published in Radiology Imaging Cancer in November 2020, the postponement of routine screening examinations is expected to result in delays in new cancer diagnoses.


Intended Audience



  • Medical Device Companies

  • Government and Private Laboratories

  • Research and Development (R&D) companies

  • Medical Research Laboratories

  • Market Research and Consulting Service Providers


Segmental Overview


Positron Emission Tomography Devices (PET) Market, by Product Type



  • Full Ring PET Scanners

  • Partial Ring PET Scanners


Positron Emission Tomography Devices (PET) Market, by Applications



  • Cardiology

  • Neurology

  • Oncology

  • Orthopedics

  • Urology

  • Gastroenterology

  • Othe

  • Others


Positron Emission Tomography Devices (PET) Market, by End User



  • Hospitals

  • Clinics

  • Diagnostic Centers¬†

  • Others

Report Attribute/Metric Details
  Market Size   2032: 1.06 USD
  CAGR   6.5%
  Base Year   2019
  Forecast Period   2023-2032
  Historical Data   2018
  Forecast Units    Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product Type, Applications, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   positron emission tomography devices (PET) market are Agfa Healthcare, Gamma Medica Inc., GE Healthcare, Neusoft Medical Systems, Oncovision, Koninklijke Philips N.V., Positron Corporation, Siemens AG, Segami Corporation, Spectrum Dynamics Ltd., Naviscan, Inc. MedX Holdings Inc., Modus Medical Devices Inc., Radiology Oncology Systems, Inc., Yangzhou Kindsway Biotech Co. Ltd., Toshiba Corporation, Hitachi, Ltd.
  Key Market Opportunities   Joint ventures, strategic alliances, mergers and acquisitions and new product developments
  Key Market Drivers ·  Rising adoption of PET scanning ·  Rising patient awareness regarding the benefits


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