Global Positron Emission Tomography (PET) Market to Reach $1.51 Billion by 2033: Early Diagnostics and Hybrid Imaging Drive Growth

According to Renub Research Latest Report Positron Emission Tomography (PET) Market is forecasted to grow from US$ 1.06 billion in 2024 to US$ 1.51 billion by 2033, achieving a Compound Annual Growth Rate (CAGR) of 4.02% during the 2025–2033 period. PET imaging, a highly sophisticated diagnostic modality, has gained prominence due to its ability to detect metabolic changes at early disease stages, enhancing patient care and treatment outcomes.

The market expansion is driven by several factors: increasing incidence of chronic diseases, technological advancements in hybrid imaging systems, and growing applications in oncology, cardiology, and neurology. Additionally, the increasing emphasis on precision medicine and personalized treatment strategies is significantly boosting the adoption of PET scans worldwide.

Global Positron Emission Tomography Market Overview

PET is a non-invasive imaging technology that uses radioactive tracers to capture three-dimensional images of metabolic activity within tissues and organs. Unlike conventional imaging methods, PET provides insights into functional changes, allowing early detection of diseases before structural abnormalities are visible. Often combined with CT or MRI scans, PET ensures accurate diagnostics and improved clinical decision-making.

PET imaging has become indispensable in oncology for detecting, staging, and monitoring tumors. In cardiology, it evaluates myocardial perfusion, blood flow, and coronary artery disease. In neurology, PET aids in assessing disorders such as Alzheimer’s disease, epilepsy, and Parkinson’s disease. Its precision and minimally invasive nature make it highly valuable in modern healthcare.

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Key Drivers of PET Market Growth

1. Rising Incidence of Chronic Diseases

The global increase in cancer, cardiovascular diseases, and neurological disorders fuels demand for PET imaging. Early and accurate diagnosis is crucial for managing these complex conditions. PET scans allow real-time imaging of metabolic activity, enhancing treatment planning and patient outcomes.

For example, in the United States, chronic kidney disease affects over 35.5 million adults, with diabetes and hypertension as leading causes. Unfortunately, a significant portion remains undiagnosed. PET imaging offers potential in early detection and better disease management, driving market adoption.

2. Advancements in Imaging Systems

The introduction of hybrid imaging technologies, such as PET/CT and PET/MRI, has revolutionized diagnostic capabilities. These systems integrate multiple imaging modalities, offering comprehensive insights into both structural and functional abnormalities.

Recent innovations include advanced detector technology, providing high-resolution, precise images for clinicians. In September 2024, GE HealthCare received FDA clearance for Flyrcado™, a new PET MPI agent for detecting coronary artery disease (CAD). Its superior diagnostic performance, especially in patients with high BMI, underscores the improved clinical value and accessibility of PET technology.

3. Expanding Applications in Personalized Medicine

The shift toward precision and personalized medicine has increased the demand for PET imaging. PET plays a pivotal role in monitoring therapy responses and tailoring patient-specific treatments, ensuring better clinical outcomes.

For instance, in May 2022, Mediso Ltd acquired Bartec Technologies Ltd, a UK-based specialist in nuclear medicine and molecular imaging. Such strategic moves highlight the growing focus on enhancing diagnostic precision and supporting personalized treatment planning.

Challenges in the PET Market

1. High Costs of PET Equipment and Procedures

PET scanners are expensive to acquire and maintain, limiting accessibility, especially in developing nations. The high costs of radiopharmaceuticals and operation pose challenges for hospitals and clinics, restricting widespread adoption despite clinical benefits.

2. Short Half-Life of Radioactive Tracers

PET tracers have very short half-lives, requiring nearby cyclotron facilities and efficient logistics for timely distribution. This limits accessibility in remote or resource-constrained regions, impeding global penetration.

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Market Segments and Applications

By Product Type:

Full-Ring PET Scanners: Offer high sensitivity, complete 3D imaging, and faster scans, widely used in oncology, cardiology, and neurology.

Partial-Ring PET Scanners: Provide cost-effective solutions with limited imaging coverage, primarily in smaller diagnostic centers.

By Detector Type:

Bismuth Germanium Oxide (BGO): Dense and efficient, widely used in cost-sensitive PET setups.

Lutetium Oxyorthosilicate (LSO) & Lutetium Yttrium Orthosilicate (LYSO): Advanced detectors for higher resolution and precision.

Other Crystals: Include Lutetium Fine Silicate (LFS) and Gadolinium Oxyorthosilicate (GSO).

By Application:

Oncology: Largest segment due to high cancer incidence and need for early detection.

Cardiology: Evaluates myocardial perfusion, blood flow, and therapy progress.

Neurology: Assists in Alzheimer’s, Parkinson’s, epilepsy, and other brain disorders.

Others: Include infection imaging and metabolic studies.

By End-User:

Hospitals & Clinics

Diagnostic Centers

Other Medical Facilities

Regional Insights

United States

Dominates the global PET market due to advanced healthcare infrastructure, high cancer prevalence, and rapid adoption of hybrid imaging systems. Investments in molecular imaging and radiopharmaceutical research further strengthen its leadership. In July 2024, Positrigo gained FDA clearance for NeuroLF®, a portable brain PET system for Alzheimer’s and other neurological conditions.

France

Market growth is supported by government healthcare programs, urban imaging centers, and strong cancer and neurology focus. April 2025 saw Telix Pharmaceuticals secure marketing authorization for Illuccix®, a prostate cancer imaging agent, enhancing oncology applications.

China

Experiencing rapid PET market expansion due to rising cancer incidence, urbanization, and government-funded nuclear medicine centers. Collaborations such as Clario and XingImaging in 2022 for clinical trials are boosting access and adoption across first- and second-tier cities.

Brazil

Growth is fueled by awareness campaigns, hybrid PET/CT adoption, and private and public investments in nuclear medicine. Rural access remains challenging but is being addressed through collaborations with global imaging firms.

Saudi Arabia

Driven by Vision 2030 healthcare modernization, emphasizing advanced diagnostics. PET adoption is increasing in oncology and cardiology, supported by partnerships with global imaging companies and domestic radiopharmaceutical manufacturing. December 2024 saw the launch of the first PET/MRI diagnostic service for Alzheimer’s at King Abdulaziz University.

Recent Developments in the PET Industry

July 2024: Positrigo received FDA clearance for the NeuroLF® brain PET system.

September 2024: GE HealthCare’s Flyrcado™ PET MPI agent approved, improving CAD diagnostics.

May 2022: Mediso Ltd acquired Bartec Technologies Ltd, expanding nuclear medicine capabilities.

Investments in BGO and LYSO detectors are improving imaging quality while optimizing costs for emerging markets.

Key Players in the PET Market

Agfa Healthcare (Dedalus Group)

GE Healthcare

Koninklijke Philips NV

Neusoft Medical Systems

Positron Corporation

Oncovision (Bruker)

Mediso Medical Imaging Systems Ltd.

Siemens Healthineers AG

Segami Corporation

Hitachi Ltd.

These companies are investing in R&D, hybrid imaging technologies, and radiopharmaceutical development to enhance diagnostic capabilities and expand market reach globally.

Conclusion

The global PET market is poised for steady growth through 2033, supported by advances in hybrid imaging, rising chronic disease prevalence, and expansion in oncology, cardiology, and neurology applications.

While challenges such as high equipment costs and short tracer half-lives persist, ongoing investments in technological innovation, radiopharmaceutical production, and infrastructure development are mitigating these constraints. Emerging markets in China, Brazil, and Saudi Arabia provide significant growth opportunities, while mature markets in the U.S. and Europe continue to drive innovation and adoption.

As healthcare increasingly emphasizes precision medicine, early diagnostics, and personalized treatment planning, PET imaging remains an indispensable tool for improving patient outcomes. By integrating state-of-the-art hybrid systems, cost-effective detectors, and innovative radiotracers, the PET market is set to balance accessibility, performance, and clinical impact, ensuring robust global growth in the decade ahead.

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