Positron Emission Tomography Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

Positron Emission Tomography Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

Global Positron Emission Tomography Market is anticipated to grow considerably through 2032 owing to the increasing adoption of PET analysis in the radiopharmaceutical industry due to the surging number of cancer patients.

Modern imaging technologies are used in image-guided interventions to offer precise and effective real-time visual direction during a medical operation. PET can be used to track a tumor's response to radiation therapy, enabling doctors to modify treatment regimens as necessary.

Also, expanding use of high-tech diagnostic and treatment devices will encourage the implementation of positron emission tomography, fueling the market expansion. For instance, in January 2022, GE Healthcare obtained a new FDA 510 approval for its SIGNA PET/MRI device, which would assist more doctors to improve scan performance.

The positron emission tomography market has been divided in terms of technology, application, end-use, and region.

In terms of technology, the partial ring PET scanner segment is expected to surge robustly through the forecast period. Partial-ring PET scanners boast of several benefits, including lower costs, comfort for patients, high resolution, quick scanning times, and others. These factors have contributed to the segment's rapid development.

Based on application, the lutetium yttrium orthosilicate (LYSO) segment is slated to capture USD 940 million market share by 2032. LYSO PET scanners are becoming more well-liked in the domain of nuclear medicine owing to their enhanced image quality, sensitivity, shorter scanning periods, reduced radiation dose, as well as better adaptability.

With respect to end-use, the hospitals segment is estimated to garner sizable growth over the review timeframe. Hospitals offer holistic medical care to patients because of their huge patient traffic and access to cutting-edge diagnostic tools that other healthcare institutions might not have, including sophisticated PET scanners. Additionally, growing referral networks that hospitals have developed with insurance companies are expected to boost product demand.

From the regional front, the Asia Pacific positron emission tomography market is set to grow at more than 6% CAGR from 2023 to 2032. The rising prevalence of cardiovascular diseases in the area is mainly responsible for regional market growth. As per credible reports, cardiac arrest mortalities in India remained over 28,000 in the last 3 years. Additional important factors that will promisingly impact the expansion of local companies include favorable regulatory environments for medical modalities that will provide better patient care and improved healthcare infrastructure.