Positron Emission Tomography Market size was valued at USD 2.52 billion in 2023 to USD 4.21 billion by 2031, growing at a CAGR of 6.61% during the forecast period (2024-2031).
Westford, USA, Dec. 04, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the positron emission tomography market size will attain a value of USD 4.21 billion by 2031, with a CAGR of 6.61% over the forecast period (2024-2031). Growing advancements in medical imaging technologies and rising prevalence of chronic diseases are slated to drive positron emission tomography market growth. Expansion of the application scope of PET scanners and integration of artificial intelligence are slated to create new opportunities in the long run.
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Positron Emission Tomography Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 2.52 Billion |
| Estimated Value by 2031 | $ 4.21 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.61% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing incidence of chronic diseases such as cancer |
| Key Market Opportunities | Integration of artificial intelligence and machine learning |
| Key Market Drivers | Advancements in imaging technologies |
Need for Advanced Imaging in Oncology Research and Diagnostics Helps it Dominate the Market
Surging number of cancer cases across the world coupled with high investments in oncology research are expected to help bolster this segment hold a high positron emission tomography market share. Extensive use of positron emission tomography for cancer detection and diagnosis in lung, breast, and colorectal cancer patients is expected to create new opportunities for positron emission tomography providers in the future.
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Growing Investments in Medical R&D Makes Research Institutes Highly Opportune for Positron Emission Tomography Companies
High emphasis on promoting early diagnosis of chronic diseases and growing investments in medical research are expected to generate new business scope for positron emission tomography providers going forward. Supportive government initiatives and funding for research institutes and growing collaboration between multiple institutions are also boosting revenue generation across the positron emission tomography market forecast.
Early Adoption of Advanced Diagnostics Makes North America a Leading Positron Emission Tomography Market
Presence of a developed healthcare infrastructure and early adoption of advanced diagnostic imaging technologies such as positron emission tomography are aiding the dominance of this region. Surge in incidence of cancer and high healthcare expenditure also contribute to the high revenue generation potential of positron emission tomography companies. The United States is expected to spearhead the positron emission tomography market outlook in North America.
Positron Emission Tomography Market Insights:
Drivers
Restraints
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Prominent Players in Positron Emission Tomography Market
Key Questions Answered in Positron Emission Tomography Market Report
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This report provides the following insights:
Analysis of key drivers (high demand for PET scans in research and clinical applications, advancements in medical imaging technologies), restraints (high costs of PET scanners, stringent regulatory mandates for approvals), and opportunities (integration of artificial intelligence and machine learning technologies) influencing the growth of positron emission tomography market.
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