Australian PET imaging agents market to rise at 2% CAGR through 2033

Its growth is attributed to the prevalence of prostate cancer.

Australia’s positron emission tomography (PET) imaging agents market is projected to rise at a compound annual growth rate of 2% through 2033, said GlobalData.

The sector’s expansion is attributed to the prevalence of prostate cancer, which stands as one of the most diagnosed cancers in the country.

These agents, particularly those targeting prostate-specific membrane antigen, provide effective means to detect and monitor the disease at a molecular level.

Meanwhile, their use is expanding beyond prostate cancer with technological advancements in hybrid imaging systems, such as PET/CT and PET/MRI, driving the market.

"PET imaging agents are becoming the essential components in modern medical diagnostics, setting new standards in clinical practice," Aditi Dakshesh Parikh, Medical Devices Analyst at GlobalData, said.

Australia represents approximately 15% of the Asia Pacific nuclear imaging agents market in 2024.