PET MRI Market

PET MRI Market Study by Sequential PET MRI Scanners and Simultaneous PET MRI Scanners for Hospitals, Diagnostic Laboratories, Research Institutes, and Biopharmaceuticals Companies from 2024 to 2034

Analysis of PET MRI Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

PET MRI Market Outlook (2024 to 2034)

Revenue from the global PET MRI market is estimated at US$ 206.3 million in 2024 and is projected to increase to US$ 494.7 million by the end of 2034. Worldwide sales of PET MRI products are forecasted to rise at a CAGR of 9.1% from 2024 to 2034.

The PET MRI market size is expanding at a significant rate due to the adoption of these systems in several healthcare fields such as oncology, neurology, cardiology, and musculoskeletal imaging because these systems allow physicians to examine and describe diseases in unprecedented detail, which enable earlier detection, precise staging, and individualized treatment planning.

Ongoing developments in PET MRI systems show the progress in healthcare imaging technology. Both positron emission tomography (PET) and magnetic resonance imaging (MRI) are well-known for being effective diagnostic modalities that provide distinct perspectives on anatomy and physiology.

Combination of PET and MRI in a single hybrid system provides several imaging capabilities with anatomical, functional, and molecular data in a single scan. This integration is made possible by technologies that provide the collection of data simultaneously and the accurate spatial co-registration of PET and MRI images. Due to this integration, separate scans are no longer necessary, which results in improved diagnostic accuracy while cutting down on scan time, patient discomfort, and motion artifacts.

Other than this, the sensitivity, resolution, and signal-to-noise ratio of systems are increased due to improvements in image reconstruction algorithms and other technologies that allow for higher-quality imaging with better temporal and spatial resolution.

Key Market Growth Drivers

  • With its distinctive blend of functional, anatomical, and molecular imaging, PET MRI offers deep insights into the pathophysiology of illnesses as well as the effectiveness of treatment.
  • Early identification, staging, and monitoring of various illnesses such as cancer, neurological disorders, and cardiovascular issues is being made possible by the simultaneous visualization of metabolic activity, tissue perfusion, and structural morphology. This improves diagnostic accuracy, thus driving PET MRI market growth.
  • PET MRI systems are in increased demand due to the rising number of patients with chronic illnesses such as cancer, Alzheimer's disease, Parkinson's disease, and cardiovascular problems.
  • Developments that are contributing to market expansion are hardware parts, image reconstruction algorithms, and data processing methods.
  • Since PET MRI makes it possible to analyze disease causes, treatment effects, and pharmacokinetics non-invasively, it is becoming essential for clinical research, drug development, and translational medicine.
  • Key users of PET MRI equipment are pharmaceutical & biopharmaceutical companies, hospitals, research institutes, and diagnostic laboratories.
  • Technological advancements in PET MRI machines to improve imaging performance, spatial resolution, and sensitivity are contributing to market growth.
Report Attribute Detail
PET MRI Market Size (2024E) US$ 206.3 Million
Forecasted Market Value (2034F) US$ 494.7 Million
Global Market Growth Rate (2024 to 2034) 9.1% CAGR
North America Market Share (2024E) 38.8%
East Asia Market Value (2024E) US$ 31 Million
Sales of Integrated PET MRI Systems (2034F) US$ 340.3 Million
Sales of Simultaneous PET MRI Scanners (2034F) US$ 408.3 Million
Clinical PET MRI System Segment Value (2034F) US$ 426.6 Million
Hospitals Segment Value (2034F) US$ 193 Million
Key Companies Profiled Siemens AG; Hallmarq Veterinary Imaging; Koninklijke Philips N.V.; GE Healthcare; Time Medical Holdings; MR Solutions; United Imaging; Mediso Ltd.; Aspect Imaging; IMV Imaging.

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Why Has Integration of PET and MRI Technologies Become Prominent?

“Rising Demand for Customized Treatment Options and Improved Precision in Diagnosis”

Combination of PET (positron emission tomography) and MRI (magnetic resonance imaging) is an excellent technological advancement that revolutionizes the healthcare sector because it offers high-end insights into disease processes and treatment responses by enabling the simultaneous viewing of anatomical, functional, and molecular data.

With the simultaneous evaluation of metabolic activity, tissue perfusion, and structural morphology, PET MRI improves the precision of diagnosis and facilitates the early identification, staging, and surveillance of several illnesses such as cancer, neurological disorders, and cardiovascular ailments. Due to these methods, healthcare professionals easily provide customized treatment plans to patients as per the issue or requirements, and this helps in enhancing clinical results.

What Challenges are Restricting Adoption of PET MRI Systems?

“High Cost of Installation and Maintenance Associated with PET MRI Systems”

Cost of PET MRI systems is high, and several healthcare facilities find this restrictive, particularly those that have limited financial resources or budgets. These cutting-edge systems entail significant expenditures when it comes to equipment procurement, installation, operation, and lifetime maintenance. This factor may limit market growth, as it is hard for countries with relatively limited healthcare budgets to adopt these expensive systems in their facilities.

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Country-wise Insights

The North American region is estimated to account for 38.8% of the global PET MRI market share in 2024. Sales of PET MRI systems in East Asia are projected to rise at an 11.4% CAGR from 2024 to 2034, and this region is becoming a lucrative market for manufacturers of PET MRI due to the increasing cases of cardiovascular issues, neurological disorders, and cancer.

Will Healthcare Sector Growth in the United States Benefit PET MRI System Providers?

“Robust Healthcare Infrastructure Ensuring Accessibility of Advanced Imaging Systems”

Attribute United States
Market Value (2024E) US$ 63 Million
Growth Rate (2024 to 2034) 7.6% CAGR
Projected Value (2034F) US$ 131 Million

Utilization of PET MRI is growing in the United States as it offers comprehensive and detailed imaging of the body, which aids in the diagnosis and monitoring of various conditions such as cancer, neurological disorders, and cardiovascular diseases. Strong healthcare infrastructure in the country is a primary factor that is boosting the utilization of PET MRI systems in healthcare facilities even though they come with high costs. Additionally, the United States is well-known for advanced research and clinical activities in healthcare, which is a key PET MRI market trend in the nation.

  • In May 2019, the United States FDA approved United Imaging Healthcare's (UIH) uPMR 790 HD TOF PET/MRI product.

Why are Sales of PET MRI Systems Rising at a Significant Pace in China?

“Increasing Prevalence of Chronic Diseases and Neurological Disorders”

Attribute China
Market Value (2024E) US$ 15 Million
Growth Rate (2024 to 2034) 12.2% CAGR
Projected Value (2034F) US$ 48 Million

Growing demand for PET MRI systems in China among healthcare professionals is driven by their role in providing accurate diagnostic insights compared to traditional imaging methods. Also, the rising prevalence of chronic diseases such as cancer and neurological disorders is leading to increased demand for PET MRI scans.

The market in China is projected to expand as a result of the healthcare sector’s growth. Encouragement of installations by end-user facilities through favorable finance is another factor driving market expansion. The increasing elderly population and the expansion of diagnostic imaging facilities are also driving market growth in China.

  • In February 2019, to advance PET MRI system research in cancer, cardiology, and neurology in China, Cubresa signed a distribution agreement with Worldwide Technology (S.H.) Co., Ltd. to distribute NuPET preclinical imaging products throughout the country.

Category-wise Insights

Based on end user, the market is segmented into hospitals, diagnostic laboratories, research institutes, and pharmaceutical & biopharmaceutical companies. The hospitals segment is poised to hold 36.6% of the worldwide market share in 2024 and is forecasted to generate a high portion of revenue throughout the projection period (2024 to 2034).

What are the Advantages of Integrated PET MRI Systems in Clinical Practices?

“Integrated PET MRI Systems Enabling Precise Diagnosis and Treatment Planning”

Attribute Integrated PET MRI
Market Value (2024E) US$ 144.6 Million
Growth Rate (2024 to 2034) 8.9% CAGR
Projected Value (2034F) US$ 340.3 Million

Integrated PET MRI systems are incredibly versatile in clinical practice and help meet the various requirements of specialty medicine such as neurology, cardiology, cancer, and musculoskeletal imaging. With the integration of MRI and PET, these excellent devices offer deep insights into disease pathophysiology and treatment response.

To increase the efficiency of imaging tests for several purposes such as tumor characterization, neurological illnesses, cardiovascular diseases, and musculoskeletal injuries, healthcare professionals use integrated PET MRI technologies. Also, integrated PET MRI systems are widely used in clinical practices due to their ability to perform exact diagnosis, treatment planning, and therapeutic monitoring across several medical specialties.

How Do Simultaneous PET MRI Devices Improve Patient Experience?

“Simultaneous PET MRI Devices Reducing Overall Scan Time and Improving Diagnostic Accuracy”

Attribute Simultaneous PET MRI Scanners
Market Value (2024E) US$ 174.6 Million
Growth Rate (2024 to 2034) 8.9% CAGR
Projected Value (2034F) US$ 408.3 Million

Based on image acquisition, the simultaneous PET MRI scanners are set to hold 84.6% of the global market share in 2024. Simultaneous PET MRI scanners are considered an important milestone in medical imaging technology as they improve patient experience and expedite diagnostic procedures. Simultaneous PET MRI devices record PET and MRI data simultaneously, in contrast to sequential scanners that need patient mobility and individual scans.

This integration reduces overall scan time, lessens patient discomfort, and gets rid of registration errors, all of which increase workflow efficiency and diagnostic accuracy. Because they smoothly combine the PET and MRI modalities, these scanners are highly valued tools in current healthcare settings, optimizing clinical efficiency and improving patient experience.

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Competitive Landscape

Key players in the PET MRI market are competing to gain the top position in the market. The introduction and integration of new technologies such as AI and digital scanning technologies are making the market extremely competitive. PET MRI systems are extremely costly, which is restricting many end users from buying them. Hence, manufacturers are focusing on reducing their costs without compromising on quality and efficiency.

  • In April 2024, the PGI Department of Nuclear Medicine announced that it was working to acquire PET-MRI, a technology that was not currently offered by any government facilities in northern India, including AIIMS, New Delhi, India. Softer tissue malignancies, such as brain tumors and pelvic cancers, were treated with the use of this diagnostic device.
  • In January 2023, the Magnifico Vet MRI equipment was introduced by Esaote North America to provide rapid and simple diagnostics in veterinary facilities.
  • In November 2022, the Zero-Helium (ZHM) Small Animal 1.5T MRI system from Hallmarq Veterinary Imaging was introduced. It employs a conduction-based cooling mechanism instead of helium.

Fact.MR provides detailed information about the price points of leading manufacturers of PET MRI systems positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of PET MRI Market Research

  • By Product Type :

    • Integrated
    • Separate
    • Insert
    • Hybrid
  • By Imaging Technology :

    • Conventional
    • Time of Flight
  • By Image Acquisition :

    • Sequential PET MRI Scanners
    • Simultaneous PET MRI Scanners
  • By Application :

    • Pre-clinical PET MRI Systems
    • Clinical PET MRI Systems
  • By End User :

    • Hospitals
    • Diagnostic Laboratories
    • Research Institutes
    • Pharmaceutical & Biopharmaceutical Companies
  • By Region :

    • North America
    • Western Europe
    • Eastern Europe
    • Latin America
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

- FAQs -

What is the market size of PET MRI?

The global market for PET MRI is estimated at US$ 206.3 million in 2024.

What is the projected size of the market for 2034?

Worldwide sales of PET MRI systems are projected to reach US$ 494.7 million by 2034.

At what rate is the demand for PET MRI forecasted to increase?

Global demand for PET MRI equipment is projected to rise at a CAGR of 9.1%

How is the market expected to fare in East Asia?

The market in East Asia is calculated to reach US$ 91 million by 2034-end.

At what rate is the South Korean market forecasted to expand?

Sales of PET MRI systems in South Korea are projected to rise at 11.2% CAGR through 2034.

Who are the leading manufacturers of PET MRI systems?

Leading market players are Siemens AG, Hallmarq Veterinary Imaging, Koninklijke Philips N.V., and Time Medical Holdings.

What is the projected demand for integrated PET MRI?

Revenue from the sales of integrated PET MRI is expected to reach US$ 144.6 million in 2024.

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