Global Nuclear Imaging Equipment Market Size study & Forecast, by Modality (SPECT, PET) by Application (Cardiology, Oncology, Neurology, Others), by End-use (Hospitals, Imaging Centers, R&D, Others) and Regional Analysis, 2023-2030

Global Nuclear Imaging Equipment Market Size study & Forecast, by Modality (SPECT, PET) by Application (Cardiology, Oncology, Neurology, Others), by End-use (Hospitals, Imaging Centers, R&D, Others) and Regional Analysis, 2023-2030

Global Nuclear Imaging Equipment Market is valued approximately at USD 6.21 billion in 2022 and is anticipated to grow with a growth rate of more than 3.14% over the forecast period 2023-2030. Nuclear imaging equipment refers to advanced medical devices used in diagnostic imaging procedures that involve the use of radioactive substances to create detailed images of organs and tissues within the body. These imaging modalities utilize various techniques such as single-photon emission computed tomography (SPECT) and positron emission tomography (PET) to detect and visualize metabolic and functional changes at the molecular level. The Nuclear Imaging Equipment market is expanding because of factors such as increasing incidence of cancer and cardiovascular diseases, increasing investments in healthcare infrastructure and rising adoption of hybrid imaging systems.

The rising prevalence of cancer and cardiovascular diseases worldwide is driving the demand for advanced diagnostic imaging technologies, including nuclear imaging equipment. These imaging modalities play a crucial role in the early detection, staging, and monitoring of cancer and heart conditions, contributing to better patient outcomes. According to the International Agency for Research on Cancer (IARC), the projected global cancer burden is expected to rise to 27.5 million new cases by 2040, a significant increase from the 1.9 million new cases reported in 2021. Moreover, the Centers for Disease Control and Prevention (CDC) 2022 report states that in 2020, 20.1 million persons aged 20 and older had coronary artery disease. Furthermore, the same report stated that every year about 805,000 Americans have a heart attack. Thus, rising chronic cardiac diseases are driving the market growth. Moreover, the National Library of Medicine announced in September 2022 that more than 200,000 heart valve replacement procedures are carried out annually worldwide, with an increase to 8,50,000 per year expected by 2050. Thus, rising prevalence of cancer and cardiovascular diseases is driving the market growth. In addition, expanding applications in neurology and oncology and favorable reimbursement policies for nuclear imaging procedures are creating new opportunities the market growth. However, the high cost of nuclear imaging equipment stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Nuclear Imaging Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to expanding elderly population and the escalating incidence of chronic ailments spurred by lifestyle shifts, thereby driving up the demand for nuclear medicine imaging procedures. Additionally, the proactive engagement of prominent industry players in the region through diverse initiatives aimed at bolstering their market presence is anticipated to further bolster regional growth. Asia Pacific is expected to grow at a fastest rate during the forecast period, owing to factors such as rising incidence of cancer, alongside the introduction of state-of-the-art nuclear imaging equipment in the region, is poised to propel market expansion.

Major market player included in this report are:
GE HealthCare
Siemens Healthineers
Koninklijke Philips N.V.
Canon Medical Systems Corporation
Mediso, Cubresa Inc.
Shimadzu Corporation
United Imaging Healthcare Co
BCL X-Ray Canada Inc.
TTG Imaging Solutions, LLC.
Lucerno Dynamics LLC.

Recent Developments in the Market:
 In May 2023, Koninklijke Philips N.V., Elekta, and Mercurius Health revealed a collaborative 3-year agreement. Within this alliance, Philips and Elekta joined forces to install cutting-edge diagnostic and therapeutic oncology equipment, alongside aligned informatics solutions, at Mercurius Health’s recently acquired Robert Janker Klinik cancer center in Bonn, Germany.
 In April 2022, Mediso Ltd disclosed its acquisition of Bartec Technologies Ltd, a UK-based company specializing in the supply, installation, and support of Nuclear Medicine and Molecular Imaging equipment and accessories. This strategic move is anticipated to fortify Mediso’s foothold in the UK and Ireland markets.

Global Nuclear Imaging Equipment Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Modality, application, End-use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Modality:
SPECT
PET
By Application:
Cardiology
Oncology
Neurology
Others
By End-use:
Hospitals
Imaging Centers
R&D
Others
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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