How Has the Positron Emission Tomography PET Nuclear Medicine Market Evolved Historically and What is its Current Size?
The positron emission tomography pet nuclear medicine market has seen considerable growth due to a variety of factors.
• The market size for positron emission tomography (PET) nuclear medicine has seen a swift expansion in the past few years. The market is projected to escalate from $11.49 billion in 2024 to $13.2 billion in 2025, with a compound annual growth rate (CAGR) of 14.9%.
This growth during the historical period can be credited to factors such as the rising occurrence of cardiovascular diseases, increased spending on healthcare, higher incidence of urological diseases, a growing elderly population, and an increase in the number of hospitals.
What Is The Projected Growth Of The Positron Emission Tomography PET Nuclear Medicine Template Market?
The positron emission tomography pet nuclear medicine market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated swift expansion is forecasted for the positron emission tomography (PET) nuclear medicine market over the upcoming years, expected to reach a size of $22.71 billion in 2029, boasting a compound annual growth rate (CAGR) of 14.5%.
This anticipated growth for this period is attributable to factors like increased R&D investment, growing preference for less invasive diagnostic procedures, improving worldwide healthcare facilities, rising demand in pharmaceutical and food packaging, and an increased frequency of cancer cases. Notable trends projected for this period involve technological progress, multi-faceted diagnoses, the incorporation of artificial intelligence, the advent of digital PET systems, and personalized medical treatments.
What Are The Key Drivers Fueling Growth In The Positron Emission Tomography PET Nuclear Medicine Market?
Rising cases of chronic illnesses are anticipated to boost the expansion of the positron emission tomography (PET) nuclear medicine market. Chronic illnesses are persistent health conditions lasting for three months or more and may necessitate continuous medical care or restrict everyday tasks. Factors such as an aging populace, insufficient physical activity, poor dietary habits, and environmental threats contribute to the surge in chronic illnesses. PET nuclear medicine contributes to chronic disease management by providing innovative imaging procedures that facilitate early detection, accurate diagnosis, and regular tracking of these diseases. For instance, as per the World Health Organization (WHO), a Switzerland-based intergovernmental body, in February 2024, approximately 20 million new cancer cases and 9.7 million cancer-related deaths were reported in 2022. Also, by 2050, the number of new cancer cases is likely to surpass 35 million, a rise of 77% from the count in 2022. Consequently, the escalating prevalence of chronic illnesses fuels the expansion of the positron emission tomography (PET) nuclear medicine market.
What Are The Principal Market Segments In The Global Positron Emission Tomography PET Nuclear Medicine Industry?
The positron emission tomography (PET) nuclear medicine market covered in this report is segmented –
1) By Type: F-18, Rb-82, Other Types
2) By Procedure: Diagnostic Procedures, Single Photon Emission Computed Tomography Procedures, Positron Emission Tomography Procedures, Therapeutic Procedures, Beta Emitter Procedures, Alpha Emitter Procedures, Brachytherapy Procedures
3) By Application: Oncology, Cardiology, Neurology, Other Applications
4) By End User: Hospitals, Diagnostic Centers, Research Institutes
Subsegments:
1) By F-18 (Fluorine-18): F-18 FDG (Fluorodeoxyglucose), F-18 NaF (Sodium Fluoride), F-18 Fluorocholine
2) By Rb-82 (Rubidium-82): Rb-82 for Myocardial Perfusion Imaging, Rb-82 for Cardiac PET Stress Testing, Rb-82 for Other Cardiac Applications
3) By Other Types: C-11 (Carbon-11), N-13 (Nitrogen-13), O-15 (Oxygen-15), Ga-68 (Gallium-68)
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What Emerging Trends Are Influencing The Growth Of The Positron Emission Tomography PET Nuclear Medicine Market?
Leading firms in the positron emission tomography (PET) nuclear medicine sector are driving advancements, focusing on the development of products like PET slice scanners that deliver high-resolution pictorial data of metabolic activity. These scanners, which blend PET with cutting-edge computational methods, generate intricate images of bodily metabolic procedures, proving essential in disease detection and analysis, especially cancer-related conditions. In July 2024, the U.S. nuclear medicine firm, Positron Corporation, introduced NeuSight PET-CT 3D 64-slice scanner to the market. This scanner is not only setting new standards in imaging and diagnostic accuracy but also balances advanced technology with patient comfort and operation efficiency. Developed to revolutionize cardiac PET imaging, the NeuSight PET-CT scanner offers unparalleled performance and value at an unbeatable cost, making it suitable for cardiology and oncology clinical studies. It significantly improves scanning speed and precision with its superior data collection and groundbreaking identification technology, fulfilling comprehensive anatomical and functional imaging needs for heart, cancer, and brain studies in various molecular imaging applications.
Who Are the Key Players In The Positron Emission Tomography PET Nuclear Medicine Market?
Major companies operating in the positron emission tomography (PET) nuclear medicine marker are:
• Cardinal Health
• Bayer AG
• Medtronic plc
• Siemens Healthineers AG
• Fujifilm Holdings Corporation
• Stryker Corporation
• GE HealthCare Technologies Inc.
• Koninklijke Philips N.V.
• Agfa HealthCare NV
• Scripps Health
• Shimadzu Corporation
• Jubilant DraxImage Inc.
• Neusoft Medical Systems Co. Ltd.
• Toshiba America Medical Systems Inc.
• Lantheus Holdings Inc.
• Advanced Accelerator Applications
• Bruker Corporation
• Eckert & Ziegler Strahlen- und Medizintechnik AG
• Canon Medical Systems Corporation
• Digirad Corporation
• NorthStar Medical Radioisotopes LLC
• Mediso Medical Imaging Systems Ltd.
What Are The Regional Insights Into The Positron Emission Tomography PET Nuclear Medicine Market?
North America was the largest region in the positron emission tomography (PET) nuclear medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the positron emission tomography (PET) nuclear medicine marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
