Positron Emission Tomography (PET) Radiotracer Market Forecast and Analysis: Key Insights into Growth, Trends, and Emerging Opportunities
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How Will the Growth Rate of the Positron Emission Tomography (PET) Radiotracer Market Shape Industry Trends by 2034?
In the past few years, the market size of the positron emission tomography (PET) radiotracer has seen significant growth. The market, which was valued at $2.35 billion in 2024, is projected to grow to $2.57 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. The historic increase in this market can be tied to several factors including escalated incidences of infectious diseases, heightened awareness and access, the development of new radiotracers, an increased number of cancer cases, and an intensified focus on preventive healthcare.
The market size for the positron emission tomography (PET) radiotracer is anticipated to witness robust expansion in the forthcoming years, with the valuation projected to reach $3.63 billion in 2029, reporting a compound annual growth rate (CAGR) of 9.1%. The upswing over the forecast period can be accredited to factors such as the broadening of applications, regulatory sanctions, rise in emerging markets, increase in the elderly population, and the escalating adoption of PET radio scanners. The key trends for the forecast period comprise the advent of micro-pet technology, synchronization with wearable technology, spreading of theranostics, nano-radiotracers, and the application of blockchain for information security.
Which Drivers Are Expected to Have the Greatest Impact on the Positron Emission Tomography (PET) Radiotracer Market’s Growth?
The surge in incidences of infectious diseases is predicted to spur the positron emission tomography (PET) radiotracer market’s expansion. Infectious diseases are ailments triggered by harmful microorganisms such as bacteria, viruses, parasites, and fungi. Factors like climate change, urbanization, global integration, resistance to antibiotics, and shifts in human behavior, which enable the transmission of pathogens, have led to the escalating prevalence of these diseases. PET radiotracers contribute to the management of infectious diseases by marking metabolic activity and inflammation, which eventually allows for the identification of infection, analysis of treatment effectiveness, and differentiating between infectious and non-infectious diseases, thus facilitating improved patient outcomes. For example, a report released by the UK Health Security Agency, a government organization in the UK, in February 2024 stated a 10.7% rise in tuberculosis (TB) cases in England in 2023, with 4,850 cases recorded, versus the 4,380 reported in 2022. Consequently, the growth of the positron emission tomography (PET) radiotracer market is being fueled by the escalating prevalence of infectious diseases.
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Who Are the Key Market Players Influencing the Growth of the Positron Emission Tomography (PET) Radiotracer Industry?
Major companies operating in the positron emission tomography (PET) radiotracer marker are Cardinal Health Inc., AstraZeneca PLC, Eli Lilly and Company, Siemens Healthineers AG, GE Healthcare Technologies Inc., Philips Healthcare, Bracco Imaging S.p.A., Neusoft Medical Systems Co Ltd., Lantheus Holdings Inc., Jubilant Pharma Limited, SOFIE Biosciences (SOFIE), Yantai Dongcheng Pharmaceutical Group Co. Ltd., Nordion Inc., RefleXion Medical Inc., Isologic Innovative Radiopharmaceuticals, ABX Advanced Biochemical Compounds GmbH, IBA Radiopharma Solutions S.A., IXICO PLC, ImaginAb Inc., Radiomedix Inc.
What Key Market Trends Are Shaping the Future of the Positron Emission Tomography (PET) Radiotracer Industry?
Leading businesses in the PET radiotracer market are prioritizing the creation of innovative diagnostic tools such as PET imaging agents to boost the detection of cancer and improve patient prognosis. PET imaging agents are radioactive substances used in PET scans to view and track bodily functions. For example, in March 2023, IsoLogic Innovative Radiopharmaceuticals, a radiopharmaceutical firm based in Canada, introduced Illuccix, alternatively known as the Ga-68 Gozetotide Preparation Kit (PSMA-11) in Canada, which is a prostate cancer imaging agent specifically created to detect metastatic prostate cancer. This equipment is beneficial to doctors for detecting metastatic illnesses and assisting in patient care decisions. It is intended for use in patients suspected of developing metastasis and are considered for initial definitive treatment and those suspected of recurrence as signaled by a rise in serum prostate-specific antigen (PSA) levels.
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Which Primary Segments of the Positron Emission Tomography (PET) Radiotracer Market Are Driving Growth and Industry Transformations?
The positron emission tomography (PET) radiotracer market covered in this report is segmented –
1) By Radiotracer Type: F-18 (Fluorodeoxyglucose 18), Ga-68 (Fibroblast Activation Protein Inhibitor), Other Radiotracer Types
2) By Application: Cancer, Heart Disease, Gastrointestinal, Endocrine, Neurological Disorders, Other Applications
3) By End-User: Hospitals, Diagnostic Centers, Other End-Users
Subsegments:
1) By F-18 (Fluorodeoxyglucose 18): F-18 FDG (Fluorodeoxyglucose), F-18 Fluoroethyltyrosine (FET), F-18 Florbetapir (Amyloid PET Imaging)
2) By Ga-68 (Fibroblast Activation Protein Inhibitor): Ga-68 Dotatate (Neuroendocrine Tumor Imaging), Ga-68 PSMA (Prostate-Specific Membrane Antigen Imaging), Ga-68 FAPI (Fibroblast Activation Protein Inhibitor Imaging)
3) By Other Radiotracer Types: C-11 (Carbon-11), N-13 (Nitrogen-13), O-15 (Oxygen-15), Rb-82 (Rubidium-82), I-124 (Iodine-124)
Which Regions Are Emerging as Leaders in the Positron Emission Tomography (PET) Radiotracer Market?
North America was the largest region in the positron emission tomography (PET) radiotracer 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) radiotracer marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Defining Features of the Positron Emission Tomography (PET) Radiotracer Market?
A positron emission tomography (PET) radiotracer refers to a radioactive substance used in positron emission tomography (PET) imaging. A PET radiotracer is utilized by injecting a patient with a radioactive substance that binds to specific biological targets, allowing the PET scanner to visualize metabolic activity and diagnose conditions such as cancer or neurological disorders.
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