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How Much Larger Is The Positron Emission Tomography (PET) Radiotracer Market Expected To Become By 2029 Compared With Its 2025 Level?
The positron emission tomography (pet) radiotracer market size has grown strongly in recent years. It will grow from $2.35 billion in 2024 to $2.54 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to the increasing prevalence of infectious diseases, increasing awareness and accessibility, the emergence of novel radiotracers, the rising prevalence of cancer, and the increasing focus on preventive medicine.
The positron emission tomography (pet) radiotracer market size is expected to see strong growth in the next few years. It will grow to $3.61 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to the expansion of applications, regulatory approvals, growth in emerging markets, growing geriatric population, and growing adoption of PET radio scanners. Major trends in the forecast period include the development of micro-pet technology, integration with wearable technology, expansion of theranostics, nano-radiotracers, and blockchain for data security.
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Which Drivers Are Supporting Growth Of The Positron Emission Tomography (PET) Radiotracer Market?
The increasing prevalence of infectious diseases is expected to propel the growth of the positron emission tomography (PET) radiotracer market going forward. Infectious diseases refer to illnesses caused by pathogenic microorganisms such as bacteria, viruses, fungi, or parasites. The rising prevalence of infectious diseases is due to climate change, urbanization, globalization, antibiotic resistance, and changes in human behavior, which all facilitate the spread of pathogens. Positron emission tomography (PET) radiotracers help infectious diseases by visualizing metabolic activity and inflammation, enabling detection of infection, assessment of treatment response, and differentiation between infectious and non-infectious conditions for better patient outcomes. For instance, in February 2024, according to a report published by the UK Health Security Agency, a UK-based government agency, tuberculosis (TB) cases in England increased by 10.7% in 2023, with 4,850 cases reported compared to 4,380 in 2022. Therefore, the increasing prevalence of infectious diseases is driving the growth of the positron emission tomography (PET) radiotracer market.
What Are The Segment Types Shaping The Positron Emission Tomography (PET) Radiotracer Market?
The positron emission tomography (pet) radiotracermarket 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 Key Trends Are Expected To Influence The Positron Emission Tomography (PET) Radiotracer Market In The Coming Years?
Major companies operating in the positron emission tomography (PET) radiotracer market are focusing on developing advanced diagnostic solutions, such as positron emission tomography imaging agents to enhance cancer detection and improve patient outcomes. A positron emission tomography (PET) imaging agent refers to a radioactive substance used to visualize and measure biological processes in the body during PET scans. For instance, in March 2023, IsoLogic Innovative Radiopharmaceuticals, a Canada-based radiopharmaceutical company, launched Illuccix, also known as the Ga-68 Gozetotide Preparation Kit (PSMA-11), in Canada as a prostate cancer imaging agent designed to detect metastatic prostate cancer. This tool is valuable for physicians in identifying metastatic disease and aiding in patient management decisions. It is indicated for use in patients suspected of having metastasis who are candidates for initial definitive therapy, as well as in those with suspected recurrence indicated by elevated serum prostate-specific antigen (PSA) levels.
Which Leading Players Are Enhancing Their Positron Emission Tomography (PET) Radiotracer Market Presence Worldwide?
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.
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Which Region Shows The Highest Potential For Future Expansion 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.
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