PET Scanners Market Expected To Reach US$ 3.6 Billion By 2032

Trishita Deb
Trishita Deb

Updated · Dec 31, 2024

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Introduction

Global PET Scanners Market is projected to reach US$ 3,595.7 Million by 2032, up from US$ 2,177.4 Million in 2023, growing at a CAGR of 5.9% during 2024-2032. In 2023, North America led the market, achieving over 34.20% share with a revenue of US$ 706.2 Million.

The market’s growth is primarily attributed to the rising prevalence of chronic diseases such as cancer and cardiovascular disorders. Advanced PET imaging technologies are improving diagnostic accuracy, enabling early detection and treatment of various cancers. For instance, the National Cancer Institute highlights significant advancements in diagnostic capabilities, driven by the integration of PET and CT scanners.

Supportive government initiatives and increased healthcare spending further propel market expansion. In the U.S., the Department of Health and Human Services encourages the installation of advanced imaging systems in hospitals, ensuring improved access to high-quality diagnostic tools.

Growing awareness of early disease detection and non-invasive diagnostic methods also fosters PET scanner adoption in medical facilities. These trends are reinforced by the expansion of healthcare infrastructure in emerging economies and significant investments in research and development by prominent market players.

Market leaders such as Siemens Healthineers and GE Healthcare are spearheading innovation. Siemens Healthineers recently introduced the Biograph Vision Quadra, a PET/CT scanner offering ultra-high resolution and faster scan times, enhancing diagnostic precision and patient comfort. This scanner is suitable for both clinical and research applications.

Similarly, GE Healthcare’s Discovery MI DR integrates PET and CT technologies to deliver superior image quality and quantification accuracy, particularly for oncology patients. GE’s use of artificial intelligence (AI) optimizes imaging processes, alleviating radiologists’ workloads and improving PET scan efficiency.

PET Scanners Market

Advancements in radiotracer development, such as enhanced production of Flurodeoxyglucose (FDG) radiotracers, further strengthen the market. These innovations improve the ability to detect and monitor metabolic activity in cancerous tumors, enabling earlier and more precise diagnoses. Such technological progress underscores the efforts of leading companies to refine PET imaging, driving better patient outcomes and more effective healthcare solutions.

Key Takeaways

  • Market Size: The Global Pet Scanners Market size is expected to be worth around USD 3,595.7 Million by 2032 from USD 2,177.4 Million in 2023.
  • Market Growth: The Global Pet Scanner Market growing at a CAGR of 5.9% during the forecast period from 2024 to 2032.
  • Detector Type Analysis: Based on detector type, fluorodeoxyglucose (FDG) was the leading segment in 2022 and is expected to maintain this dominance throughout the forecast period.
  • Regional Analysis: Regionally, North America led the global PET scanner market, accounting for a substantial 34.20% of the revenue share in 2022.
  • End User Analysis: The Hospital Segment Dominates the Market of PET Scanners and Holds the Largest Revenue Share of 47.13%.
  • Application Analysis: oncology segment dominated the market with 47.0% in 2022.
  • Modality Analysis: Based on modality, the market is segmented into PET-CT and PET-MRI. In 2022, PET-CT held a dominant market share of 81.98% and is expected to continue its growth with a compound annual growth rate (CAGR) of 5.5% throughout the forecast period.
  • Product Type Analysis: Based on product type full-ring PET scanners hold the largest market share in 2022 with 84.3%.
  • Technological Advancements: Innovations in PET technology, including the development of hybrid PET/CT scanners, are enhancing imaging quality and diagnostic accuracy, fueling market expansion.
  • Healthcare Expenditure: Rising healthcare expenditure globally, particularly in developed countries, is supporting the adoption of advanced diagnostic technologies like PET scanners.

PET Scanners Statistics

  • Market Expansion: Patient procedures involving PET/CT are anticipated to grow by 20% annually.
  • Oncology Focus: PET imaging is primarily used for oncology patients, accounting for approximately 90-95% of all scans.
  • Medicare Reimbursement: Medicare currently reimburses 20% of PET procedures, with plans to potentially increase coverage to 80%.
  • Usage Data: Around 1 million PET procedures were conducted in the U.S. over the past year.
  • Operational Capacity: Fixed-site PET/CT facilities typically conduct about 10 studies daily, operating at 25-50% capacity.
  • Center Structure: Nearly 90% of PET/CT centers are freestanding, often operated through joint ventures with hospitals and radiologists.
  • Financial Impact of Legislation: The Deficit Reduction Act may decrease Medicare PET/CT reimbursements by 10-20%, reducing the technical fee from $2,400 to $1,400 per procedure.
  • Break-Even Point: Financial break-even requires approximately 2 to 3 PET referrals daily.
  • Biograph mCT PET Scanner: This scanner utilizes 4 x 4 mm LSO crystal elements for high-resolution imaging and supports patients weighing up to 227 kg.
  • Global Installation: Over 2,000 PET scanners are installed worldwide, with the U.S. conducting over 1.5 million PET scans annually.
  • Diagnostic Accuracy: PET scans achieve 90% accuracy for lung cancer diagnosis and 85% accuracy for detecting Alzheimer’s disease.
  • Cost of Scans: PET scan costs range from $3,000 to $6,000, with Medicare covering 80% of costs for eligible patients.
  • Technological Advancements: PET-CT scanners improve diagnostic capabilities, while PET-MRI scanners provide enhanced soft tissue contrast.
  • Radiation Dose: The average radiation dose from a PET scan is approximately 7 mSv.
  • Impact of Technology: The introduction of PET/CT scanners resulted in a 146% increase in PET scan utilization.
  • Purpose of Scans: PET scans are predominantly used for cancer diagnosis (70%), followed by cardiac (20%) and neurological applications (10%).
  • Global Distribution: Around 2,500 PET scanners are installed globally, with an annual growth rate of about 5%.
  • Total-Body PET Scanners: These scanners offer a 40-fold increase in sensitivity and complete whole-body scans in under 60 seconds.
  • Resolution and Sensitivity: Modern PET scanners provide a resolution of 4-5 millimeters and a 95% sensitivity for detecting metabolic activity.
  • Regional Variation: High-income countries average 9 PET scanners per million people, middle-income countries average 2, and low-income countries have fewer than 0.5 PET scanners per million.

Emerging Trends in the PET Scanners

  • Technological Innovations: Advancements in PET scanner technology are significantly improving diagnostic accuracy and efficiency. Enhanced image resolution, faster scan times, and AI-driven data interpretation are enabling precise and timely diagnoses.
  • Increased Use in Oncology: PET scanners are essential for diagnosing, staging, and monitoring cancer treatment. Their role in assessing tumor response and tailoring personalized therapies has positioned oncology as the leading application segment.
  • Cardiovascular Applications: PET imaging is increasingly utilized in cardiology, providing detailed insights into cardiac tissue and function. It is particularly effective in detecting reduced blood flow and assessing myocardial viability.
  • Neurology Applications: The adoption of PET scanners in neurology is rising due to their ability to visualize brain function and metabolism. They are pivotal in diagnosing Alzheimer’s disease, epilepsy, and Parkinson’s disease, aiding in early intervention.
  • Adoption in Diagnostic Centers: Lower costs and enhanced accessibility are driving diagnostic centers to integrate PET scanners into their services. This trend increases local access to advanced imaging for patients.
  • Hospital Dominance: Hospitals remain the primary setting for PET scanning due to their ability to manage high patient volumes and integrate PET scans with other diagnostic tools for comprehensive evaluations.
  • Government Support: The market benefits from government initiatives to enhance healthcare infrastructure, particularly in North America. Increased funding supports the adoption of high-quality diagnostic imaging technologies.
  • Medicare Coverage Expansion: Medicare now covers a wider range of PET scans for cancer and cardiac conditions, improving patient access to essential diagnostic tools and promoting earlier detection and treatment.
  • Growth in Asia-Pacific: Rapid economic development, expanding healthcare infrastructure, and larger patient populations are driving significant growth in the PET scanner market in the Asia-Pacific region.
  • Emerging Isotopes: The development of new radiotracers, such as FDG and 18F Sodium Fluoride, expands PET imaging applications in oncology, cardiology, and neurology, enhancing diagnostic precision.
  • Integration with Other Modalities: Hybrid imaging systems combining PET with CT or MRI offer detailed anatomical and metabolic insights, improving diagnostic accuracy and patient outcomes.
  • Mobile PET Scanners: Mobile PET-CT units are extending advanced imaging services to remote areas, improving access to high-quality diagnostics for underserved populations.
  • Cost Reduction: Technological advancements and market competition have reduced PET scanner costs, making the technology more accessible to smaller healthcare facilities and clinics.

Use Cases of PET Scanners

  • Identifying Lost Pets: PET scanners are used to read microchips, facilitating the quick reunion of lost pets with their owners and streamlining pet recovery efforts.
  • Support for Animal Shelters: Animal shelters rely on PET scanners to identify incoming animals with microchips, reducing the number of strays and expediting their return to owners or adoption.
  • Veterinary Diagnostics: In veterinary medicine, PET scanners are instrumental in diagnosing cancers, brain disorders, and heart conditions, enabling veterinarians to develop effective, targeted treatment plans.
  • Research on Animal Diseases: Portable PET scanners support research on diseases like Alzheimer’s and Parkinson’s in animals, enabling real-time monitoring of brain activity and aiding the development of human disease models.
  • Enhanced Pet Healthcare: Total-body PET scanners provide detailed imaging of pets’ internal organs, enabling comprehensive diagnoses and tailored treatments for multiple conditions simultaneously.
  • Public Health Initiatives: Community-based pet scanning programs promote responsible pet ownership by improving pet identification and reducing stray populations, supporting public health efforts.
  • Reducing Radiation Exposure: Modern PET scanners use lower doses of radiotracers, minimizing radiation exposure for pets undergoing frequent scans, particularly for chronic condition monitoring.
  • Early Disease Detection: Advanced PET scanners detect metabolic changes in pets before structural abnormalities are evident, allowing for earlier interventions that improve health outcomes.
  • Portable Diagnostic Tools: Portable PET scanners facilitate on-site diagnostics in veterinary clinics and research facilities, enabling immediate treatment decisions.
  • Cancer Treatment Monitoring: PET scanners track tumor size and metabolic changes during cancer treatments in pets, helping veterinarians adjust therapies for optimal recovery.
  • Integration with Other Imaging Technologies: Combining PET with MRI enhances diagnostic precision by providing detailed views of both structural and functional aspects of an animal’s health.
  • Support for Elderly Pets: PET scanners assist in managing age-related conditions, such as dementia, in aging pets by providing detailed brain imaging to guide personalized care strategies.

Conclusion

The global PET scanners market is poised for significant growth, driven by advancements in imaging technologies, increasing prevalence of chronic diseases, and rising demand for accurate diagnostic tools. Key factors such as supportive government initiatives, expanding healthcare infrastructure, and rising awareness of early disease detection are accelerating market expansion. Technological innovations, including hybrid PET/CT scanners and AI integration, are enhancing diagnostic precision and operational efficiency. Dominant market players like Siemens Healthineers and GE Healthcare are spearheading innovation with cutting-edge products.

With oncology as the leading application, the market benefits from advancements in radiotracer production and the adoption of PET scanners in emerging economies. North America maintains a leading market share, while Asia-Pacific exhibits strong growth potential. The market’s trajectory reflects increasing accessibility, cost reduction, and continued investment in research and development, ensuring sustained progress in diagnostic healthcare.

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Trishita Deb

Trishita Deb

Trishita has more than 8+ years of experience in market research and consulting industry. She has worked in various domains including healthcare, consumer goods, and materials. Her expertise lies majorly in healthcare and has worked on more than 400 healthcare reports throughout her career.

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