PET MRI Systems Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

PET MRI Systems Market Size - Analysis

PET MRI Systems Market Trends

As per estimates, over 50 million people globally suffer from dementia with around 10 million new cases every year. Alzheimer's disease itself is one of the major causes of dementia and its prevalence is expected to triple in the coming years owing to an aging population. PET MRI systems are hugely beneficial in diagnosing such neurological illnesses especially in their early stages. The multi-modality approach allows physicians to get functional as well as anatomical details of the brain.

Several clinical trials are ongoing to evaluate PET MRI for conditions like epilepsy, Parkinson's, Huntington's, etc. Its role in improving early detection rates as well as aiding drug development is being actively explored. The growing mental healthcare needs especially in developing countries will further propel demand.

Rising worldwide incidence of cancer has made it one of the leading causes of mortality. As per estimates, around 19 million new cancer cases and 10 million cancer deaths occurred in 2020 globally.

Cancer types where PET MRI is proving especially valuable include breast cancer and lung cancer. As per some studies, PET MRI may obviate unnecessary biopsies in breast cancer by more accurate lesion characterization compared to conventional imaging.

Overall, multi-parametric imaging holds potential for individualizing cancer care. Role of PET MRI in oncology management continues to expand through ongoing research. Thereby, its adoption rates for leading cancer types are expected to rise in the coming years.

One of the major challenges faced by the PET MRI systems market is the extremely high pricing of these systems. Integrating these complex imaging modalities into a single system leads to a very high manufacturing cost. On average, a PET MRI system can cost between $4-6 million which is significantly higher than conventional PET or MRI scanners individually. This steep pricing puts the technology out of reach for many hospitals and imaging centers, especially those in developing regions.

One key opportunity for the PET MRI Systems market lies in continuous research and development efforts that are leading to better imaging capabilities and newer system versions. PET MRI is an emerging molecular imaging technology that combines the functional imaging power of PET with the high-resolution anatomical imaging of MRI.

In addition, system manufacturers are launching improved hybrid configurations with features like time-of-flight PET detection. Continuous innovation is also expanding clinical applications from brain imaging to whole-body oncological diagnostics.

Key winning strategies adopted by key players of PET MRI Systems Market

Focus on product innovation and technological advancements: Major players like Siemens Healthineers and Philips Healthcare have consistently invested in R&D to develop innovative and advanced PET MRI systems. In 2016, Philips launched the Voyager PET/MR system with latest generation Ingenuity PET and 3.0T MRX-S MRI scanners. This system enhanced throughput, image quality and workflow efficiency.

Strategic partnerships and collaborations: Players have formed key technology partnerships to complement their product portfolios. For example, in 2012 Siemens partnered with Oncovision to develop oncology-specific software for its Biograph mMR. This helped provide a comprehensive oncology solution to customers. Similarly, in 2018 Phillips signed a clinical research collaboration with University Medical Centre Utrecht to validate applications of its PET/MR technology.

Segmental Analysis of PET MRI Systems Market

Insights, By Phase: Increased R&D Investments Drive Preclinical PET MRI Systems Market Share

With drug development becoming more complex, risky and lengthy, companies are focusing on improving R&D productivity through advanced preclinical studies. PET MRI systems help provide complementary molecular and anatomical information simultaneously, allowing researchers to better understand disease mechanisms and evaluate new drugs at the preclinical stage.

Government agencies also fund preclinical research through grants aimed at accelerating development of new treatments for conditions like Alzheimer's, Parkinson's and rare genetic disorders. Such funding support has prompted institutions to increasingly adopt multimodal preclinical imaging for grant-funded projects.

Insights, By Type: Increasing Applications Drive Demand for Traditional PET MRI Systems

Some common uses in clinical practice include detecting suspicious lesions, analyzing tumor response after treatment, surveillance scanning for recurrence and radiation therapy planning. As the prevalence of cancers rises worldwide, the volume of associated scans will continue growing steadily. Traditional PET MRIs offer proven clinical utility in staging and characterizing a wide range of tumors.

Given the huge and growing burden of heart conditions globally, especially in developed nations with aging populations, demand is expected to remain robust from diagnostic cardiac imaging centers and hospitals. Furthermore, neurological, musculoskeletal and women's health applications of combined anatomic and molecular imaging are expanding scope for traditional PET MRI market success. With well-established clinical workflows and acceptance, these systems remain the standard bearers.

Insights, By End User: Diagnostic Advantages Drive Hospital Adoption of PET MRI Systems

Compared to standalone machines, PET MRI scanners allow reading physicians to gain a more holistic understanding of pathology from a single study session. This streamlines the diagnostic process and supports treatment planning through improved characterization of lesions, metastases and therapeutic responses.

Additional Insights of PET MRI Systems Market

• According to WHO, nearly 50 million people were living with dementia globally in 2020, and Alzheimer's disease accounts for 60–70% of those cases. This massive prevalence supports the increasing demand for hybrid imaging systems like PET-MRI to aid in diagnosis and research.
• Alzheimer’s Disease Impact: The prevalence of Alzheimer's disease is contributing significantly to the demand for PET-MRI systems, particularly for research and diagnostics.
• R&D and Preclinical Studies: Ongoing research utilizing preclinical PET-MRI systems for neurological and cancer-related studies is helping drive demand for these advanced systems.
• The oncology application accounts for over 50% of the market share due to the high demand for precise cancer imaging.
• North America holds approximately 40% of the global market, attributed to advanced healthcare systems and higher adoption rates of new technologies.

Competitive overview of PET MRI Systems Market

The major players operating in the PET MRI systems market include Siemens Healthineers AG, GE Healthcare, Bruker Corporation, Mediso Ltd, MR Solutions, United Imaging Healthcare Co., Ltd., Koninklijke Philips N.V., Cubresa Inc., Inviscan Imaging Systems, and Canon Medical Systems Corporation.

Recent Developments in PET MRI Systems Market

PET MRI Systems Market Segmentation

• By Phase
  • Preclinical
  • Clinical
• By Type
  • Traditional PET-MRI Systems
  • Helium-Free PET-MRI Systems
• By End User
  • Hospitals
  • Diagnostic Centers
  • Academic & Research Institutes
  • Others