Positron Emission Tomography (PET) Nuclear Medicine Market 2024

The positron emission tomography (PET) nuclear medicine market size has grown rapidly in recent years. It will grow from $10.03 billion in 2023 to $11.49 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth observed during the historic period can be attributed to the rising prevalence of cardiovascular diseases, increasing healthcare expenditures, a higher incidence of urological diseases, a growing geriatric population, and an increasing number of hospitals.

The positron emission tomography (PET) nuclear medicine market size is expected to see rapid growth in the next few years. It will grow to $19.83 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The anticipated growth during the forecast period can be attributed to increased investment in research and development, a rising demand for minimally invasive diagnostic techniques, the expansion of global healthcare infrastructure, growing demand for food and pharmaceutical packaging, and a higher prevalence of cancer. Key trends expected in this period include technological advancements, multi-modality diagnosis, the integration of artificial intelligence, the development of digital PET systems, and the advancement of personalized medicine.

The rising incidence of chronic diseases is projected to drive the growth of the positron emission tomography (PET) nuclear medicine market in the coming years. Chronic diseases are long-term health conditions that usually persist for three months or longer, often requiring continuous medical care or limiting daily activities. Factors contributing to the increase in chronic diseases include an aging population, sedentary lifestyles, poor dietary habits, and environmental risks. PET nuclear medicine plays a crucial role in managing chronic diseases by providing advanced imaging techniques that facilitate early detection, accurate diagnosis, and ongoing monitoring of these conditions. For example, in February 2024, the World Health Organization (WHO), a Switzerland-based intergovernmental agency, reported that approximately 20 million new cancer cases and 9.7 million cancer-related deaths occurred in 2022. Furthermore, it is anticipated that by 2050, new cancer cases will surpass 35 million, marking a 77% increase from the 2022 figures. Thus, the rising prevalence of chronic diseases is driving the expansion of the PET nuclear medicine market.

Leading companies in the PET nuclear medicine sector are focusing on developing technologically advanced products, such as PET slice scanners, to deliver high-resolution images of metabolic activity. A PET slice scanner is a medical imaging device that integrates positron emission tomography (PET) with advanced computational techniques to generate detailed cross-sectional images of metabolic processes in the body, aiding in the detection and monitoring of diseases, especially cancer. For instance, in July 2024, Positron Corporation, a U.S.-based nuclear medicine company, introduced the NeuSight PET-CT 3D 64-slice scanner. This innovative scanner sets new standards for imaging and diagnostic accuracy, merging cutting-edge technology with patient comfort and operational efficiency. It aims to revolutionize cardiac PET imaging, providing exceptional value and performance at an attractive price point, making it suitable for cardiology and oncology clinical studies. With advanced data acquisition and innovative identification technology, the NeuSight PET-CT enhances both scanning speed and accuracy, offering comprehensive anatomical and functional imaging for heart, tumor, and brain studies across various molecular imaging applications.

In February 2023, Lantheus Holdings Inc., a U.S.-based radiopharmaceutical company, acquired Cerveau Technologies Inc. for an undisclosed sum. This acquisition supports Lantheus's growth strategy by broadening its pipeline of radiopharmaceutical diagnostic imaging agents to include the most commonly used Tau PET imaging agent for Alzheimer's disease. Additionally, it strengthens its portfolio with numerous academic collaborations and pharmaceutical partnerships. Cerveau Technologies Inc. specializes in providing F-18 labeled positron emission tomography imaging agents that target Tau tangles associated with Alzheimer's disease.

Major companies operating in the positron emission tomography (PET) nuclear medicine market 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.

North America was the largest region in the positron emission tomography (PET) nuclear medicine market in 2023. 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.

The countries covered in the positron emission tomography (PET) nuclear medicine marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Positron Emission Tomography (PET) nuclear medicine is a medical imaging technique that utilizes radioactive materials to visualize and evaluate metabolic activities within the body. This method employs a small amount of radioactive material known as a radiotracer to detect changes at the cellular level, enabling physicians to diagnose diseases at an early stage.

The main types of positron emission tomography (PET) nuclear medicines include F-18, RB-82, and others. F-18, or fluorine-18, is a radioactive isotope frequently used in PET imaging. It is employed in various procedures, including diagnostic imaging, single photon emission computed tomography, therapeutic interventions, beta and alpha emitter procedures, and brachytherapy. F-18 is commonly applied in fields such as oncology, cardiology, and neurology. The primary end users of PET nuclear medicine include hospitals, diagnostic centers, and research institutions.

The positron emission tomography (PET) nuclear medicine market research report is one of a series of new reports that provides positron emission tomography (PET) nuclear medicine market statistics, including positron emission tomography (PET) nuclear medicine industry global market size, regional shares, competitors with a positron emission tomography (PET) nuclear medicine market share, detailed positron emission tomography (PET) nuclear medicine market segments, market trends and opportunities, and any further data you may need to thrive in the positron emission tomography (PET) nuclear medicine industry. This positron emission tomography (PET) nuclear medicine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The positron emission tomography (PET) nuclear medicine market consists of sales of radiotracers, dose calibrators, injection systems, patient monitoring systems and simulation tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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