The global positron emission tomography market is projected to reach USD 3.5 billion by 2028 from USD 2.5 billion in 2023, at a CAGR of 6.6% from 2023 to 2028. The growing target patient population, increasing adoption of multimodal PET imaging devices, and technological advancements in PET systems are fueling the growth of the market.
The positron emission tomography market is moderately competitive, with both established companies and upcoming competitors for the same market share. As of 2022, the key player operating in the global positron emission tomography market are GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Shanghai United Imaging Healthcare (China), Canon Inc. (Japan), Shimadzu Corporation (Japan), Mediso Ltd. (Hungary), Minfound Medical System Ltd. (China), and Neusoft Corporation (China), among others.
The key strategies adopted by the top players in this market in the last four years include product launches & approvals, expansions, partnerships, acquisitions, and collaborations. In 2022, a major share of the positron emission tomography market was held by GE Healthcare (US), Siemens Healthineers (Germany), and Koninklijke Philips N.V. (Netherlands).
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GE Healthcare (US)
GE HealthCare is one of the leading players in the global diagnostic imaging market. Technical expertise in various segments (diagnostic devices to healthcare IT) of medical technology has enabled GE HealthCare to continue as a leading medical technology company. The company's broad product portfolio addresses the needs of various healthcare stakeholders, from policy makers (governments) to end users (patients). Offering more products at more price points provides GE with a unique competitive advantage over its peers.
To sustain its leadership position and ensure its future growth, the company has been focusing on product launches and agreements, partnerships, and collaborations as its key strategies.
Siemens Healthineers (Germany)
With a robust product portfolio, Siemens Healthineers holds a strong position in the PET market. To maintain its competitive position in the market, the company focuses on new product launches and collaborations as its key growth strategies. Siemens Healthineers places a strong emphasis on innovation to stay ahead of competitors and meet the evolving needs of healthcare providers. The company invests heavily in research and development to develop new products and services that can help improve patient outcomes and reduce healthcare costs.
Koninklijke Philips N.V. (Netherlands)
The company’s focused research and development (R&D) improvement activities are aimed to drive time-to-market efficiency and increase innovation effectiveness. As of December 2021, the company had four R&D facilities in Eindhoven (Netherlands), Cambridge (US), Bangalore (India), and Shanghai (China). As of December 2021, Philips’ total intellectual property portfolio consists of 57,000 patent rights, 33,000 trademarks, 114,000 design rights, and 2,900 domain names.
Positron Emission Tomography Market by Product (Standalone PET Systems, PET/CT Systems, PET/MRI Systems), Application (Oncology, Cardiology, Neurology), End User (Hospitals & Surgical Centers, Diagnostic & Imaging Clinics) & Region - Global Forecasts to 2028
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