PET Scanners Market to Hit USD 4.9 Billion by 2032, Growing at 7.7% CAGR | SNS Insider

Rising demand for early disease detection and advancements in imaging technology drive market expansion.

AUSTIN, TX, UNITED STATES, February 28, 2025 /EINPresswire.com/ -- According to Research by SNS Insider, The PET Scanners Market was estimated at USD 2.6 billion in 2023 and is expected to reach USD 4.9 billion by 2032, at a CAGR of 7.7% during the forecast period of 2024-2032.

The PET scanner market is growing rapidly due to the increasing incidence of cancer, neurological diseases, and cardiovascular conditions. Developments in imaging technology, a growing need for early disease detection, and a widening base of healthcare infrastructure are also driving market growth further. Growing investments in precision medicine and artificial intelligence-based diagnostic tools are also improving PET scanner functionality, leading to sustained market growth during the forecast period.

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Market Segmentation

By Modality, the PET-CT segment dominated the PET Scanners Market with an 82% market share in 2023.

The dominance of the segment is owing to its higher diagnostic accuracy, extensive clinical use, and increasing use in oncology, neurology, and cardiology. PET-CT integrates functional and anatomical imaging, providing high-resolution imaging that improves disease detection, staging, and treatment planning. Due to its capability to deliver accurate metabolic information, it has been favored for cancer diagnosis and follow-up. Also, advancements in technology, including time-of-flight (TOF) and digital detectors, have enhanced image quality and decreased scan times, further driving its use. The incorporation of artificial intelligence (AI) in PET-CT systems has also improved workflow efficiency. With growing healthcare investments and increasing demand for early disease detection, PET-CT is the dominant modality in the PET Scanners Market.

By Application, the oncology segment dominated the PET Scanners Market with a 48% market share in 2023.

The oncology segment is because of the increasing number of cancer incidences worldwide and PET imaging's high value in detection at an early stage, staging, and assessment of treatment efficacy. PET-CT scanners play a highly efficient role in achieving metabolic and functional imaging with greater accuracy, tumor localization with increased precision, and therapy response monitoring. The growing use of precision medicine and targeted therapy has also increased the demand for PET imaging in oncology. Government programs, cancer awareness campaigns, and reimbursement policies favoring PET-based cancer diagnosis have also supported market growth. In addition, improvements in radiotracers, including F-18 FDG and new tracers for particular cancers, have improved imaging precision. As cancer prevalence rises, PET imaging remains essential for improving patient outcomes and guiding treatment strategies.

By End Use, the hospitals segment dominated the pet scanners market in 2023 with the highest market share.

Hospital has the extensive use of sophisticated imaging technologies in hospital environments for precise disease diagnosis and treatment planning. Hospitals are key centers for the detection of cancer, neurological tests, and cardiovascular examinations, rendering PET scanners mandatory diagnostic tools. The availability of well-established health infrastructure, rising patient inflow, and adoption of PET-CT and PET-MRI systems also contribute to this segment's leadership. Besides, hospitals are supported by government subsidies, insurance payments, and research partnerships, guaranteeing ongoing investments in advanced imaging technology. The increasing focus on precision medicine and individualized treatment approaches further strengthens the need for PET scanners in hospitals, cementing their market leadership.

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Regional Insights

North America dominated the PET scanners market in 2023 with the highest market share.

The region’s dominance is because of its sophisticated healthcare system, widespread uptake of advanced imaging technologies, and robust government patronage for the diagnosis of cancer. The inclusion of prominent players like GE Healthcare and Siemens Healthineers further boosted innovation and availability. Further, an increasing prevalence of chronic illness, increased spending on precision medicine, and far-reaching reimbursement plans have driven the adoption of PET scanners, reaffirming the dominance of North America in the international market.

Asia-Pacific is expected to experience the fastest expansion in the PET scanners market owing to escalating healthcare spending, a growing number of cancer and neurological disorders, and increasing medical imaging infrastructure. China, India, and Japan are heavily investing in diagnostic imaging technologies due to government healthcare programs. Furthermore, rising awareness, medical tourism growth, and partnerships between regional and global players are driving market growth, positioning the Asia-Pacific region as a prominent growth hub for PET scanners during the forecast period.

Key Players
• Kindsway Biotech
• Canon Medical Systems
• PerkinElmer
• Neusoft Medical Systems Co. Ltd.
• GE Healthcare
• Mediso Ltd.
• Koninklijke Phillips N.V.
• Positron Corporation
• Siemens Healthineers AG
• Shimadzu Corporation

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