Consegic Business Intelligence analyzes that the positron emission tomography market is rising with a wholesome CAGR of 5.1% in the course of the forecast interval (2023-2031), boosted by the growing prevalence of most cancers globally, and main corporations consists of are GE Healthcare, Siemens Healthineers, Philips Healthcare, Hitachi Healthcare, Toshiba Medical Systems, Positron Corporation, Mediso Ltd.
New York, Oct. 12, 2023 (GLOBE NEWSWIRE) — The world Positron Emission Tomography Market is predicted to witness vital development at a outstanding CAGR of 5.1% in the course of the forecast interval of 2023-2031. Factors such because the growing prevalence of most cancers and rising consciousness of PET scans are accelerating the demand for positron emission tomography, which, in flip, is boosting the market development. In addition, technological developments in PET scanners will additional enhance the market development in the course of the forecast interval.
According to a recent report by Consegic Business Intelligence, the positron emission tomography market is poised for robust enlargement and is predicted to succeed in USD 2,687.62 million by 2031 and USD 1,802.66 million by 2023. The market, which was valued at USD 1,725.25 million in 2022, is predicted to develop at a compound annual development charge of 5.1% in the course of the interval 2023-2031. The report highlights the technological developments in PET scanners, which is augmenting the worldwide market development. Consegic Business Intelligence research additionally offers insights into the market’s aggressive panorama, market segmentation, regional outlook, and rising applied sciences within the Positron Emission Tomography market.
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Positron emission tomography (PET) is a nuclear imaging method that measures the metabolic exercise of cells in physique tissues. PET scans use a radioactive drug referred to as a tracer to indicate each typical and atypical metabolic exercise. The scans can usually detect the atypical metabolism of the tracer in ailments earlier than the illness reveals up on different imaging checks, reminiscent of computerized tomography (CT) and magnetic resonance imaging (MRI).
Global Positron Emission Tomography Market: Report Attributes
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Report Attributes |
Report Details |
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Study Timeline |
2017-2031 |
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Market Size in 2031 (USD Million) |
USD 2,687.62 Million |
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CAGR (2023-2031) |
5.1% |
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By Product Type |
Full Ring and Partial Ring |
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By Application |
Oncology, Cardiology, Neurology, Urology, and Others |
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By End User |
Hospitals & Clinics, Diagnostic facilities, and Others |
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By Region |
North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
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Key Players |
GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems, Hitachi Healthcare, Toshiba Medical Systems, Positron Corporation, Mediso Ltd., PerkinElmer, Inc., and Yangzhou Kindsway Biotech Co. Ltd. |
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Global Positron Emission Tomography Market Segmentation Details:
Based on Product Type, the total ring phase contributed the most important shares to the market development in 2022. This is as a result of superior picture high quality supplied by full ring PET scanners. Full rings have a hoop of detectors that surrounds the affected person, which permits for probably the most correct and detailed pictures. Full ring PET scanners are sometimes costlier than partial ring PET scanners, however they provide the perfect picture high quality. Thus, as a result of aforementioned components, the total ring phase is experiencing vital development within the positron emission tomography market.
Based on Application, the oncology phase contributed the most important shares to the market development in 2022. PET is utilized in oncology for broad functions reminiscent of analysis and staging of most cancers, monitoring the response of the most cancers to remedy, monitoring for most cancers recurrence after remedy, and others. Furthermore, the growing prevalence of most cancers is driving the expansion of the utilization of PET in oncology. Hence, resulting from demand for PET within the aforementioned functions, the oncology phase is experiencing vital development within the positron emission tomography market.
Based on End User, the hospitals & clinics phase contributed the most important shares of 48.90% to the market development in 2022. Hospitals and clinics are the first finish customers of PET imaging. They use PET imaging for a variety of functions reminiscent of diagnosing most cancers, assessing coronary heart operate, diagnosing and monitoring neurological issues, and others. Furthermore, PET imaging is a invaluable software for hospitals and clinics because it offers detailed pictures of the physique’s metabolism, which can assist medical doctors to diagnose and monitor quite a lot of ailments. Hence, hospitals & clinics phase is witnessing vital development within the positron emission tomography market.
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Based on Region, within the yr 2022, North America accounted for the most important share contribution of 38.55% to the market development. This is as a result of excessive prevalence of power ailments in North America and the early adoption of recent medical applied sciences within the area. Chronic ailments, reminiscent of most cancers, coronary heart illness, and neurological issues, have gotten extra widespread in North America. PET imaging is a invaluable software for diagnosing and monitoring these ailments. Furthermore, numerous gamers within the area are investing within the growth of recent PET scanners and radiotracers.
Competitive Landscape
GE Healthcare, Siemens Healthineers, and Philips Healthcare are main market gamers that comprise the latest market circumstances. These corporations are considerably leveraging their applied sciences for the event of a brand new vary of positron emission tomography. Further, the positron emission tomography market is predicted to develop steadily resulting from technological developments in PET scanners, particularly within the areas such because the Asia Pacific, and North America are estimated to spice up the market statistics within the coming years.
Recent Developments
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In June 2023, Siemens Healthineers has developed a brand new PET scanner referred to as the Biograph Vision.X PET/CT scanner. This scanner makes use of a brand new radiotracer referred to as fluciclovine (Axumin) to picture prostate most cancers. Axumin is extra particular to prostate most cancers than different radiotracers, which makes PET scans for prostate most cancers extra delicate and particular.
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In October 2022, GE HealthCare launched enhanced venue household point-of-care ultrasound programs that includes AI-driven caption steering. AI-powered expertise will develop access to scans by enabling a broader set of healthcare suppliers to carry out cardiac exams with real-time steering on the level of care.
Key Market Takeaways
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North America accounted for the very best market share at 38.55% valued at USD 665.08 million in 2022 and USD 695.65 million in 2023, and is predicted to succeed in USD 1,039.03 million in 2031. Moreover, in North America, U.S. accounted for the very best market share of 64.10% in the course of the base yr of 2022.
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Based on product kind, the total ring phase accounted for the very best share contribution to the positron emission tomography market statistics in 2022.
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Based on software, the oncology phase accounted for the very best share contribution to the positron emission tomography market statistics in 2022.
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Based on finish person, the hospitals & clinics phase accounted for the very best share contribution of 48.90% to the positron emission tomography market statistics in 2022.
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Asia Pacific is predicted to spice up the market demand for positron emission tomography as a result of growing geriatric inhabitants within the area.
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List of Major Global Positron Emission Tomography Market:
Global Positron Emission Tomography Market Segmentation:
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By Product Type
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By Application
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Oncology
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Cardiology
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Neurology
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Urology
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Others
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By End User
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Hospitals & Clinics
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Diagnostic facilities
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Others
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Frequently Asked Questions within the Positron Emission Tomography Market Report
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What was the market measurement of the positron emission tomography business in 2022?
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What would be the potential market valuation for the positron emission tomography business by 2031?
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In 2031, the market measurement of positron emission tomography shall be anticipated to succeed in USD 2,687.62 million.
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What are the important thing components restraining the expansion of the positron emission tomography market?
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What is the dominating phase within the positron emission tomography market by finish person?
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Based on present market developments and future predictions, which geographical area is rising on the quickest CAGR over the forecast interval within the positron emission tomography market?
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