The positron emission tomography (PET) scan market is experiencing significant growth, driven by technological advancements, increasing prevalence of chronic diseases, and rising demand for accurate diagnostic tools. PET scans, a type of nuclear medicine imaging, provide detailed images of the body’s internal structures and functions, making them invaluable in assessing metabolic processes and diagnosing various conditions.
The global positron emission tomography (PET) scan market size was valued at USD 18.52 billion in 2024. It is projected to grow from USD 19.31 billion in 2025 to USD 27.40 billion by 2032, registering a compound annual growth rate (CAGR) of 5.1% during the forecast period. In 2024, North America led the market, accounting for a 50.59% share.
Top Companies in the Market
- RadNet, Inc. (U.S.)
- Sonic Healthcare Limited (Australia)
- Akumin Inc. (U.S.)
- Apex Radiology (Australia)
- Alliance Medical Limited (U.K.)
- Novant Health (U.S.)
- InHealth Group (U.K.)
- Dignity Health (U.S.)
- Concord Medical (China)
Key Industry Development
In June 2024, AGFA HealthCare signed a new deal with Alliance Medical to implement an advanced cloud-based solution across all of Alliance Medical’s U.K. sites, enhancing diagnostic capabilities and streamlining operations.
Market Drivers & Restraints
Drivers
- Increasing Prevalence of Chronic Diseases: The growing burden of chronic diseases, such as cancer, cardiovascular disorders, and neurodegenerative conditions, drives the demand for advanced diagnostic tools like PET scanners for early detection, accurate staging, and treatment planning.
- Advancements in Imaging Technology: Continuous advancements in PET scanner technology, including hybrid systems (PET/CT and PET/MRI), improved image resolution, and faster scan times, enhance the diagnostic capabilities of PET and improve patient experience.
- Personalized Medicine Approach: PET imaging plays a crucial role in guiding personalized treatment approaches by providing information about disease biology, treatment response, and individual patient characteristics.
Restraints
- High Capital and Operational Costs: The high cost of purchasing and operating PET scanners can limit their availability and use in healthcare settings. The initial capital costs of PET scanners are expensive, ranging from several hundred thousand to over a million dollars, which can be a significant barrier for hospitals and medical centers with limited budgets.
- Limited Availability of Radiopharmaceuticals: The production of radiopharmaceuticals, which are crucial for PET imaging, can be constrained by regulatory challenges, availability of raw materials, supply chain issues, and the need for specialized facilities for synthesis.
- Regulatory and Compliance Challenges: The PET market is subject to stringent regulatory controls from bodies such as the FDA in the USA and EMA in Europe. Compliance with these regulations can present challenges for manufacturers and healthcare providers.
Market Report Coverage
The PET scan market report provides comprehensive insights into market size, growth trends, key players, and future outlook. It covers various segments, including indication, source of payment, service providers, and regional analyses, offering a detailed understanding of the market dynamics.
Market Competitive Landscape
The PET scan market is characterized by a mix of established companies and emerging players. Companies like RadNet, Inc., Sonic Healthcare Limited, and Alliance Medical Limited have solidified their presence in the market with robust products and established global networks. These companies are concentrating on delving deeper into this market by forming strategic partnerships with academic and research institutes.
Market Segments
By Indication
- Oncology: The oncology segment held a dominant share in 2024. This growth is primarily driven by the rising global incidence of cancer and the growing focus on early detection, diagnosis, and efficient treatment monitoring.
- Cardiology
- Neurology
- Others
By Source of Payment
- Public Health Insurance
- Private Health Insurance/Out-of-pocket: In 2024, the private health insurance and out-of-pocket segment dominated the global PET scan market share. This segment is anticipated to expand further, driven by an increase in patients’ disposable income and heightened awareness about the importance of early diagnosis.
By Service Provider
- Hospitals: The hospitals segment held a dominating share of the global market in 2024. The segment’s growth is attributed to the increasing healthcare infrastructure and suitable reimbursement facilities for such procedures.
- Diagnostic Centers
- Others
Explore the full research report with detailed insights and TOC: https://www.fortunebusinessinsights.com/positron-emission-tomography-scan-market-111805
Market Regional Insights
- North America: North America dominated the positron emission tomography scan market with a market share of 50.59% in 2024. The region’s dominance is greatly influenced by the widespread availability of companies providing these solutions and a strong network of imaging centers.
- Europe: Europe held a notable global market share in 2024. The rising prevalence of chronic diseases and healthcare expenditure is expected to boost the market growth in the European region over the study period.
- Asia Pacific: The Asia Pacific region is projected to expand at the highest CAGR during the forecast period. The increasing number of aging populations and the launch of awareness programs for imaging procedures across the region are anticipated to surge the demand for these solutions across the region.
Future Market Scope
The global PET scan market is projected to grow from USD 19.31 billion in 2025 to USD 27.40 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. The emerging regions, such as Asia Pacific, Latin America, and the Middle East & Africa, are witnessing rapid healthcare growth and increasing demand for advanced imaging technologies, including PET scans. Countries, such as China, Japan, and South Korea are investing heavily in healthcare infrastructure. This has made PET a part of the diagnostic toolkit in both large metropolitan areas and increasingly in rural regions.
Additionally, the potential impact of the introduction of new technologies for the PET scan, such as hybrid imaging and integration of artificial intelligence, is expected to foster future market growth.
Frequently Asked Questions (FAQ’s)
1) What is the market size of positron emission tomography (PET) scan market ?
2) What factors are driving positron emission tomography (PET) scan market growth in North America?
3) Who are the major players in the positron emission tomography (PET) scan market ?
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