Latest News- Positron Emission Tomography Market: PET-CT is expected to lead the Type segment during 2024-2028

The Positron Emission Tomography Market is being driven by Increasing prevalence of chronic conditions worldwide

The Positron Emission Tomography Market is expected to grow at a CAGR of 5.97% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 725.97 million. The Positron Emission Tomography (PET) market has witnessed substantial progress due to recent technological innovations in PET scanner technology. Notable advancements include Time-of-Flight (TOF) PET and High-Resolution PET systems. TOF PET scanners, which have gained significant traction, utilize the time it takes for gamma rays to travel from the emission source to the detector for more precise localization. This leads to enhanced diagnostic accuracy through improved image resolution. Meanwhile, High-Resolution PET systems, the result of advancements in detector technology and system design, offer finer details in imaging. This enables better visualization of small lesions and overall improved image quality. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • PET-CT
  • PET-MRI
• Application
  • Oncology
  • Cardiology
  • Neurology
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing prevalence of chronic conditions worldwide
• Rising number of new product launches by prominent vendors
• Growing number of M and A activities

However, the market also witnesses some limitations, which are as follows:

• High costs associated with PET imaging
• Frequent product recalls
• Stringent regulations and risks associated with PET scanners

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Market Scope in Positron Emission Tomography Market Research Report

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Research Analysis Overview

The Diagnostic Imaging Industry is witnessing significant growth in the use of Positron Emission Tomography (PET) technology for Chronic Diseases, particularly in Precision Medicine. PET scanners, such as PET/CT machines from companies like Neusoft Medical Systems, play a crucial role in Cancer Diagnosis. Hybrid imaging systems, including PET CT devices, employ Silicon photomultipliers and Radiopharmaceuticals like Fluorodeoxyglucose (FDG) and Lutetium oxyorthosilicate (LSO). Hospitals utilize these advanced tools for Breast Cancer Detection, Cancer, Alzheimer's, and other conditions like Huntington's Disease. Mayoclinic is a leading institution in PET scan applications.

Market Research Overview

The Positron Emission Tomography (PET) market is a significant segment within the broader global healthcare equipment industry. This market is characterized by the production and sale of PET/CT machines and related consumables, primarily utilized for chronic disease diagnosis, particularly in the field of precision medicine. Technavio, a leading global technology research and consulting firm, includes the PET market as part of the comprehensive healthcare equipment market. The healthcare equipment market encompasses various product categories and companies involved in research and development (R&D), manufacturing, and distribution of capital equipment, instruments, implants, accessories, and consumables. These products contribute to the diagnosis, monitoring, and treatment of various diseases. The PET market's growth is primarily driven by the increasing prevalence of chronic diseases, particularly cancer, and the growing adoption of hybrid imaging modalities like PET/CT machines for enhanced diagnostic accuracy.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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