Positron Emission Tomography Market To Reach $5.9 Billion by 2033

The report “Positron Emission Tomography Market By Product Type (Partial ring PET scanner, Full ring PET scanner), By Detector Type (Lutetium oxyorthosilicate (LSO), Silicon photomultiplier (SiPM), Lutetium yttrium orthosilicate (LYSO), Digital photon counters (DPC), Other) By End Use (Hospitals, Diagnostic centers, Ambulatory surgical centers, Other)” is expected to reach USD 37.62 billion by 2033, registering a CAGR of 20.00% from 2026 to 2033, according to a new report by Transpire Insight.

The market for PET is undergoing substantial technological developments with the advent of hybrid imaging solutions that incorporate PET with CT/MRI solutions. Such hybrid solutions result in better diagnostic results and are in demand. For instance, in July 2021, GE Healthcare partnered with Quibim to introduce a novel total body PET/CT scanner to perform a complete body scan together at the same time. Such developments in the market improve the market position of the company and lead to the growth of the market. Further, the demand for PET analysis of radiopharmaceuticals has been increasing due to several reasons, such as the frequent incidence of cancer, the increased accessibility and reduced costs of PET scanners, and the ever-increasing applications of PET in the diagnostic and follow-up studies of various medical situations. Further advancements made by the development of new radioisotopes and radiotracers have widened the applications of PET analysis. Thus, all the aforementioned factors will lead to the growth of the market in the future years.

The Partial ring PET scanner segment is projected to witness the highest CAGR in the Positron Emission Tomography Market during the forecast period.

Moreover, the market growth in full ring PET scanners will be accelerated owing to the rising incidence of cancer, development in PET technology, growing adoption of personalized medicine, aging population, and increased awareness about the capabilities offered by PET imaging. For Instance, it has been estimated that there will be nearly 2 million new cancer cases in the U.S. in 2024, as estimated by the American Cancer Society.

The Lutetium yttrium orthosilicate (LYSO) segment is projected to witness the highest CAGR in the Positron Emission Tomography Market during the forecast period.

LYSO has the biggest market share since it offers an optimal trade-off between high sensitivity, fast decay time, high stopping power, and good image quality. LYSO is most preferred in the mainstream clinical PET and integrated PET/CT scanners. Since it has established performance excellence and economic advantage over digital technology, LYSO is currently employed on a wide scale in hospitals and diagnostic imaging centers. Even though new technologies are being developed quite fast in the field of PET scanners, LYSO is the dominating scintillator material in the majority of existing PET scanners.

The Hospitals segment is projected to witness the highest CAGR in the Positron Emission Tomography Market during the forecast period.

The rise in long-term illnesses such as cancer, brain disorders, and heart problems has led more hospitals to use PET scans. Also, because healthcare is moving toward more precise, custom treatments, early detection and treatment plans that use imaging are becoming more important.

The North America region is projected to witness the highest CAGR in the Positron Emission Tomography Market during the forecast period.

The U.S. established a large presence in the North American positron emission tomography market. The market in the region is expected to grow greatly by the end of the forecast period.

Increasing incidences of cancer and cardiovascular diseases in the United States are major drivers for this market. According to the Centers for Disease Control and Prevention, there existed around 680,909 deaths from heart disease in the United States in the year 2023. An increase in the rate of deaths from diseases, along with an increase in the older population who are susceptible to diseases, has thus increased the demand for accurate disease-diagnostic methods such as PET scans.

Developments in PET imaging technologies and improvements in image resolution power and scan times are propelling the market. Furthermore, developments in Machine Learning and Artificial Intelligence technologies in the PET imaging segment have enhanced diagnostic capabilities. Reimbursement policies pertaining to the claims of the PET procedure and development in the infrastructure of the healthcare market are supporting the growth of the market in the United States.

Key Players

The top 15 players in the Positron Emission Tomography Market include Canon Medical Systems Corporation, CMR Naviscan, Fujifilm Holdings Corporation, GE Healthcare, Koninklijke Philips, Mediso, Minfound Medical Systems, Molecubes, Neusoft Corporation, Oncovision, Positron, Radialis, Siemens Healthineers, Toshiba International Corporation, Yangzhou Kindsway Biotech.

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