The Road Ahead for the Positron Emission Tomography (PET) Nuclear Medicine Market: Key Growth Trends and Opportunities to Watch
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What CAGR is Anticipated for the Positron Emission Tomography (PET) Nuclear Medicine Market During the Forecast Period, and Why?
In recent times, the market size for nuclear medicine involving positron emission tomography (PET) has seen rapid expansion. The market, which is projected to rise from $11.49 billion in 2024 to $13.2 billion in 2025, is expected to experience a compound annual growth rate (CAGR) of 14.9%. The previous growth can be ascribed to factors such as a rise in cardiovascular and urological diseases, higher spending on healthcare, an aging population, and an increasing number of hospitals.
Swift expansion is expected in the positron emission tomography (PET) nuclear medicine market in the forthcoming years, with predictions of an increase to $22.71 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 14.5%. Factors such as enhanced investment in R&D, escalating demand for less invasive diagnostic methodologies, improving worldwide healthcare infrastructure, heightened requirement for food and pharmaceutical packaging, and increasing cancer prevalence contribute to the growth during the projection period. The forecast period will see trends like technological advancements, multimodal diagnosis, the assimilation of artificial intelligence, the advent of digital PET systems, and the rise of personalized medicine.
What Strategic Factors Are Influencing the Accelerated Growth of the Positron Emission Tomography (PET) Nuclear Medicine Market?
The growth of the positron emission tomography (PET) nuclear medicine market is anticipated to be fueled by the increasing incidence of chronic diseases. These diseases, which typically last for three months or more, may necessitate frequent medical care or impede day-to-day activities. The escalating rate of chronic ailments is a consequence of factors like an aging population, inadequate physical activity, unhealthy dietary patterns, and environmental hazards. PET nuclear medicine plays a crucial role in managing chronic diseases by providing superior imaging techniques that allow for early identification, accurate diagnosis, and continuous supervision of these maladies. For example, in February 2024, the World Health Organization (WHO), based in Switzerland, reported approximately 20 million new cancer cases and nearly 9.7 million cancer-related fatalities in 2022. Furthermore, by 2050, new cancer cases are projected to surpass 35 million, marking a 77% rise from the count in 2022. Hence, the growing incidence of chronic diseases stimulates the expansion of the positron emission tomography (PET) nuclear medicine market.
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Which Companies Are Poised to Shape the Future of the Positron Emission Tomography (PET) Nuclear Medicine Market?
Major companies operating in the positron emission tomography (PET) nuclear medicine marker 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.
What Are the Latest Innovations and Trends Influencing the Positron Emission Tomography (PET) Nuclear Medicine Market?
Prominent businesses in the positron emission tomography (PET) nuclear medicine market are focusing on crafting technologically refined products including PET slice scanners that yield high-definition pictures of metabolic operations. Essentially, a PET slice scanner merges positron emission tomography (PET) and sophisticated computing approaches to produce in-depth, sectional visuals of metabolic functions within the body which become instrumental in diagnosing and observing diseases, especially cancer. To serve an illustration, Positron Corporation, a nuclear medicine enterprise based in the US, unveiled the NeuSight PET-CT 3D 64-slice scanner in July 2024. This advanced scanner broadens the boundaries in imaging and diagnostic accuracy, amalgamating cutting-edge technology with patient ease and system efficiency. Specifically designed to revolutionize cardiac PET imaging, this scanner offers unparalleled value and performance at an unrivaled cost, making it perfect for cardiac and cancer research. Offering enhanced data capture and progressive identification technology, the NeuSight PET-CT improves the speed and precision of scans. Furthermore, it provides detailed anatomical and functional imaging for heart, tumor, and brain investigations across a range of molecular imaging applications.
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Which Key Segments of the Positron Emission Tomography (PET) Nuclear Medicine Market Are Poised for Growth and Innovation?
The positron emission tomography (PET) nuclear medicine market covered in this report is segmented –
1) By Type: F-18, Rb-82, Other Types
2) By Procedure: Diagnostic Procedures, Single Photon Emission Computed Tomography Procedures, Positron Emission Tomography Procedures, Therapeutic Procedures, Beta Emitter Procedures, Alpha Emitter Procedures, Brachytherapy Procedures
3) By Application: Oncology, Cardiology, Neurology, Other Applications
4) By End User: Hospitals, Diagnostic Centers, Research Institutes
Subsegments:
1) By F-18 (Fluorine-18): F-18 FDG (Fluorodeoxyglucose), F-18 NaF (Sodium Fluoride), F-18 Fluorocholine
2) By Rb-82 (Rubidium-82): Rb-82 for Myocardial Perfusion Imaging, Rb-82 for Cardiac PET Stress Testing, Rb-82 for Other Cardiac Applications
3) By Other Types: C-11 (Carbon-11), N-13 (Nitrogen-13), O-15 (Oxygen-15), Ga-68 (Gallium-68)
What Regions Are Contributing Significantly to the Growth of the Positron Emission Tomography (PET) Nuclear Medicine Market?
North America was the largest region in the positron emission tomography (PET) nuclear medicine market in 2024. 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.
How Is the Scope and Reach of the Positron Emission Tomography (PET) Nuclear Medicine Market Defined?
Positron Emission Tomography (PET) nuclear medicine is a medical imaging method that employs radioactive materials to visualize and assess metabolic activities within the body. It uses a small amount of radioactive material called a radiotracer to detect changes at the cellular level, allowing doctors to diagnose diseases early.
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