Nuclear Imaging Equipment Market Analysis and Forecast to 2033: By Product (PET, SPECT, Planar Scintigraphy), Application (Oncology, Cardiology, Neurology, Others), End-Use (Imaging Centers, Academic and Research Institutes, Hospitals, Others), and Region
The global nuclear imaging equipment market size was over USD 3.0 billion in 2023, and it is anticipated to grow up to USD 5.2 billion by 2033, at a CAGR of 6.1% during the forecast period.
A nuclear imaging system involves the use of radioactive substances or tracers for the treatment of diseases. The radioactive substances are injected orally or intravenously, and the imaging systems record the radiation emitted by these substances to create images of organs inside the human body. These generated images help the physician in better detection and diagnosis of the illness. The emergence of healthcare technology devices has addressed the increasing need for better diagnostics. Technologically advanced imaging systems have surmounted conventional systems in terms of precise and accurate images.
Global Nuclear Imaging Equipment Market Scope and Report Structure
Market Trends and Drivers
A shift from standalone to hybrid modalities will drive market growth. With technological advancements in the field of imaging, there has been a significant evolution of hybrid systems in the past decade. The major advancement in this regard is that of combined PET modalities. The innovation of the PET/CT modality has been so successful that the major imaging system manufacturers do not provide standalone PET systems any longer. Based on the success of the hybrid PET/CT systems, hybrid PET/MRI and SPECT/CT systems have also gained attention. These hybrid systems can provide precise images with better resolution compared to standalone systems. They can provide morphological as well as physiological information in just one examination. For instance, in the case of skeletal evaluation, a SPECT/CT system offers accurate localization along with improving the specificity of the information provided by CT. Due to advantages such as these, many hospitals are now replacing their standalone systems with hybrid systems. The rising popularity of hybrid modalities is likely to drive the growth of the nuclear imaging equipment market.
Market Restraints and Challenges
The high cost of imaging systems may hamper market growth. Nuclear imaging systems are priced at a premium and require high investments for installations, which increases the procedural cost for patients as well. This affects the adoption rate of new systems, especially in emerging countries; most healthcare facilities in these countries, consequently, cannot afford such systems. In emerging countries like Brazil, the average cost of a PET system is between USD 400,000 and USD 600,000, while a SPECT system would cost between USD 250,000 and USD 400,000. These high costs, coupled with maintenance costs, are expected to hamper market growth. Healthcare facilities that purchase such costly systems often depend on third-party payers (such as Medicare, Medicaid, or private health insurance plans) to get reimbursements for the costs incurred in the diagnostic, screening, and therapeutic procedures performed using these systems. As a result, factors such as continuous cuts in reimbursements for diagnostic imaging scans and the increasing cost of nuclear imaging systems are preventing medium-sized and small healthcare facilities from investing in technologically advanced nuclear imaging modalities.
Global Nuclear Imaging Equipment Market Segmental Overview
The report analyses the global nuclear imaging equipment market based on product, application, end use, and region.
Global Nuclear Imaging Equipment Market by Product
Based on product, it is segmented into PET, SPECT, and Planar Scintigraphy. Among these, PET segment accounted for a significant market share in 2023. PET generates computerized images of chemical alteration, such as sugar metabolism, which take place in the tissue. Usually, the patient is given an injection of a combination of sugar and radioactively labeled sugar, radioactive sugar accumulates on the tumor in the body if it is present and can be traced with the help of a scanner.
Global Nuclear Imaging Equipment Market by Application
Based on application, it is segmented into oncology, cardiology, neurology, and others. Among them, the oncology application segment is expected to register the highest CAGR during the forecast period. The major factors contributing to the growth of this segment include the rising incidence and prevalence of cancer across the globe, initiatives taken by public and private organizations to curb the rising cancer prevalence, and the development of advanced systems and radiotracers for oncology. Hence, the aforementioned factors fuel market growth.
Global Nuclear Imaging Equipment Market by End-use
Based on end-use, it is segmented into imaging centers, academic and research institutes, hospitals, and others. The hospital segment accounted for the highest share in 2023 owing to factors such as the need to improve the efficiency of diagnostic imaging procedures and the rising number of diagnostic imaging procedures performed in hospitals
Geographical Analysis of Global Nuclear Imaging Equipments Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share of the market in 2023. The high growth in this region can be attributed to the increasing incidence of chronic diseases, rising awareness of the benefits of early disease diagnosis, and the improvement of healthcare systems in the region. Also, robust, high volume of nuclear medicine procedures, and increased investment in research and development of nuclear imaging equipment. Hence, the aforementioned factors will boost market growth.
Major Players in the Global Nuclear Imaging Equipments Market
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- Chapter 1. Nuclear Imaging Equipment Market Overview
- 1.1. Objectives of the Study
- 1.2. Market Definition and Scope of the Report
- 1.3. Report Limitations
- 1.4. Years & Currency Considered in the Study
- 1.5. Research Methodologies
- 1.5.1. Secondary Research
- 1.5.1.1. Data Collection
- 1.5.1.2. List of Secondary Sources
- 1.5.1.3. Key Data from Secondary Sources
- 1.5.2. Primary Research
- 1.5.2.1. List of Primary Research Sources
- 1.5.3. Market Size Estimation: Top-Down Approach
- 1.5.4. Market Size Estimation: Bottom-Up Approach
- 1.5.5. Data Triangulation and Validation
- Chapter 2. Executive Summary
- 2.1. Summary
- 2.2. Key Highlights of The Market, by Region
- 2.3. Key Highlights of The Market, by Product
- 2.4. Key Highlights of The Market, by End-user
- Chapter 3. Premium Insights on the Market
- 3.1. Market Attractiveness Analysis, by Region
- 3.2. Market Attractiveness Analysis, by Product
- 3.3. Market Attractiveness Analysis, by End-user
- Chapter 4. Nuclear Imaging Equipment Market Outlook
- 4.1. Nuclear Imaging Equipment Market Segmentation
- 4.2. Market Dynamics
- 4.2.1. Market Drivers
- 4.2.1.1. Driver 1
- 4.2.1.2. Driver 2
- 4.2.2. Market Trends
- 4.2.2.1. Trend 1
- 4.2.2.2. Trend 2
- 4.2.3. Market Restraints
- 4.2.3.1. Restraint 1
- 4.2.3.2. Restraint 2
- 4.2.4. Market Opportunities
- 4.2.4.1. Opportunity 1
- 4.2.4.2. Opportunity 2
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Threat of New Entrants
- 4.3.2. Threat of Substitutes
- 4.3.3. Bargaining Power of Buyers
- 4.3.4. Bargaining Power of Supplier
- 4.3.5. Competitive Rivalry
- 4.4. PESTLE Analysis
- 4.5. Value Chain Analysis
- 4.6. 4Ps Model
- 4.7. ANSOFF Matrix
- 4.8. Impact of COVID-19 on the Nuclear Imaging Equipment Market
- 4.9. Impact of the Russia-Ukraine War on the Nuclear Imaging Equipment Market
- 4.10. Parent Market Analysis
- 4.11. Supply-Demand Analysis
- 4.12. Consumer Buying Interest
- 4.13. Case Study Analysis
- 4.14. Pricing Analysis
- 4.15. Regulatory Landscape
- 4.16. Supply Chain Analysis
- 4.17. Competition Product Analysis
- 4.18. Recent Developments
- Chapter 5. Nuclear Imaging Equipment Market, by Product
- 5.1. Market Overview
- 5.2. PET
- 5.2.1. Key Market Trends & Opportunity Analysis
- 5.2.2. Market Size And Forecast, By Region
- 5.3. SPECT
- 5.3.1. Key Market Trends & Opportunity Analysis
- 5.3.2. Market Size And Forecast, By Region
- 5.4. Planar Scintigraphy
- 5.4.1. Key Market Trends & Opportunity Analysis
- 5.4.2. Market Size And Forecast, By Region
- Chapter 6. Nuclear Imaging Equipment Market, by Application
- 6.1. Market Overview
- 6.2. Oncology
- 6.2.1. Key Market Trends & Opportunity Analysis
- 6.2.2. Market Size And Forecast, By Region
- 6.3. Cardiology
- 6.3.1. Key Market Trends & Opportunity Analysis
- 6.3.2. Market Size And Forecast, By Region
- 6.4. Neurology
- 6.4.1. Key Market Trends & Opportunity Analysis
- 6.4.2. Market Size And Forecast, By Region
- 6.5. Others
- 6.5.1. Key Market Trends & Opportunity Analysis
- 6.5.2. Market Size And Forecast, By Region
- Chapter 7. Nuclear Imaging Equipment Market, by End-user
- 7.1. Market Overview
- 7.2. Imaging centers
- 7.2.1. Key Market Trends & Opportunity Analysis
- 7.2.2. Market Size And Forecast, By Region
- 7.3. Academic and Research Institutes
- 7.3.1. Key Market Trends & Opportunity Analysis
- 7.3.2. Market Size And Forecast, By Region
- 7.4. Hospitals
- 7.4.1. Key Market Trends & Opportunity Analysis
- 7.4.2. Market Size And Forecast, By Region
- 7.5. Others
- 7.5.1. Key Market Trends & Opportunity Analysis
- 7.5.2. Market Size And Forecast, By Region
- Chapter 8. Nuclear Imaging Equipment Market, by Region
- 8.1. Overview
- 8.2. North America
- 8.2.1. Key Market Trends and Opportunities
- 8.2.2. North America Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.2.3. North America Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.2.4. North America Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.2.5. North America Nuclear Imaging Equipment Market Size and Forecast, by Country
- 8.2.6. The U.S.
- 8.2.6.1. The U.S. Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.2.6.2. The U.S. Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.2.6.3. U.S. Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.2.7. Canada
- 8.2.7.1. Canada Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.2.7.2. Canada Nuclear Imaging Equipment Market Size and Forecast, by Application Concentrators
- 8.2.7.3. Canada Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.2.8. Mexico
- 8.2.8.1. Mexico Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.2.8.2. Mexico Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.2.8.3. Mexico Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.3. Europe
- 8.3.1. Key Market Trends and Opportunities
- 8.3.2. Europe Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.3. Europe Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.4. Europe Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.3.5. Europe Nuclear Imaging Equipment Market Size and Forecast, by Country
- 8.3.5.1. Germany
- 8.3.5.2. Germany Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.5.3. Germany Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.5.4. Germany Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.3.6. France
- 8.3.6.1. France Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.6.2. France Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.6.3. France Nuclear Imaging Equipment Market Size and Forecast, by Therapeutic Area
- 8.3.7. U.K
- 8.3.7.1. U.K. Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.7.2. U.K. Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.7.3. U.K. Nuclear Imaging Equipment Market Size and Forecast, by Therapeutic Area
- 8.3.8. Spain
- 8.3.8.1. Spain Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.8.2. Spain Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.8.3. Spain Nuclear Imaging Equipment Market Size and Forecast, by Therapeutic Area
- 8.3.9. Italy
- 8.3.9.1. Italy Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.9.2. Italy Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.9.3. Italy Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.3.10. Russia
- 8.3.10.1. Russia Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.10.2. Russia Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.10.3. Russia Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.3.11. Rest of Europe
- 8.3.11.1. Rest of Europe Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.3.11.2. Rest of Europe Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.3.11.3. Rest of Europe Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.4. Asia-Pacific
- 8.4.1. Key Market Trends and Opportunities
- 8.4.2. Asia-Pacific Nuclear Imaging Equipment Market Size and Forecast, by Country
- 8.4.3. Asia-Pacific Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.4.4. Asia-Pacific Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.4.5. China
- 8.4.5.1. China Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.4.5.2. China Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.4.5.3. China Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.4.6. India
- 8.4.6.1. India Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.4.6.2. India Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.4.6.3. India Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.4.7. Japan
- 8.4.7.1. Japan Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.4.7.2. Japan Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.4.7.3. Japan Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.4.8. South Korea
- 8.4.8.1. South Korea Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.4.8.2. South Korea Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.4.8.3. South Korea Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.4.9. Rest of APAC
- 8.4.9.1. Rest of APAC Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.4.9.2. Rest of APAC Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.4.9.3. Rest of APAC Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.5. Rest of The World
- 8.5.1. Key Market Trends and Opportunities
- 8.5.2. Rest of The World Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.5.3. Rest of The World Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.5.4. Rest of The World Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.5.5. Rest of The World Nuclear Imaging Equipment Market Size and Forecast, by Country
- 8.5.6. Latin America
- 8.5.6.1. Latin America Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.5.6.2. Latin America Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.5.6.3. Latin America Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.5.7. Middle East
- 8.5.7.1. Middle East Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.5.7.2. Middle East Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.5.7.3. Middle East Nuclear Imaging Equipment Market Size and Forecast, by End-use
- 8.5.8. Africa
- 8.5.8.1. Africa Nuclear Imaging Equipment Market Size and Forecast, by Product
- 8.5.8.2. Africa Nuclear Imaging Equipment Market Size and Forecast, by Application
- 8.5.8.3. Africa Nuclear Imaging Equipment Market Size and Forecast, by End-use
- Chapter 9. Competitive Landscape
- 9.1. Market Overview
- 9.2. Market Share Analysis/Key Player Positioning
- 9.3. Developmental Strategy Benchmarking
- 9.3.1. New Product Development
- 9.3.2. Product Launches
- 9.3.3. Business Expansions
- 9.3.4. Partnerships, Joint Ventures, and Collaborations
- 9.3.5. Mergers and Acquisitions
- Chapter 10. Company Profiles
- 10.1. Siemens Healthineers (Germany)
- 10.1.1. Company Snapshot
- 10.1.2. Financial Performance
- 10.1.3. Product Offerings
- 10.1.4. Key Strategic Initiatives
- 10.1.5. SWOT Analysis
- 10.2. GE Healthcare (US)
- 10.2.1. Company Snapshot
- 10.2.2. Financial Performance
- 10.2.3. Product Offerings
- 10.2.4. Key Strategic Initiatives
- 10.2.5. SWOT Analysis
- 10.3. Koninklijke Philips (Netherlands)
- 10.3.1. Company Snapshot
- 10.3.2. Financial Performance
- 10.3.3. Product Offerings
- 10.3.4. Key Strategic Initiatives
- 10.3.5. SWOT Analysis
- 10.4. Digirad Corporation (US)
- 10.4.1. Company Snapshot
- 10.4.2. Financial Performance
- 10.4.3. Product Offerings
- 10.4.4. Key Strategic Initiatives
- 10.4.5. SWOT Analysis
- 10.5. Neusoft Medical Systems Co., Ltd (US)
- 10.5.1. Company Snapshot
- 10.5.2. Financial Performance
- 10.5.3. Product Offerings
- 10.5.4. Key Strategic Initiatives
- 10.5.5. SWOT Analysis
- 10.6. Canon Medical Systems Corporation (Japan)
- 10.6.1. Company Snapshot
- 10.6.2. Financial Performance
- 10.6.3. Product Offerings
- 10.6.4. Key Strategic Initiatives
- 10.6.5. SWOT Analysis
- 10.7. SurgicEye GmbH (Germany)
- 10.7.1. Company Snapshot
- 10.7.2. Financial Performance
- 10.7.3. Product Offerings
- 10.7.4. Key Strategic Initiatives
- 10.7.5. SWOT Analysis
- 10.8. DDD-Diagnostic A/S (Denmark)
- 10.8.1. Company Snapshot
- 10.8.2. Financial Performance
- 10.8.3. Product Offerings
- 10.8.4. Key Strategic Initiatives
- 10.8.5. SWOT Analysis
- 10.9. CMR Naviscan Corporation (US)
- 10.9.1. Company Snapshot
- 10.9.2. Financial Performance
- 10.9.3. Product Offerings
- 10.9.4. Key Strategic Initiatives
- 10.9.5. SWOT Analysis
- 10.10. Mediso Ltd. (Hungary)
- 10.10.1. Company Snapshot
- 10.10.2. Financial Performance
- 10.10.3. Product Offerings
- 10.10.4. Key Strategic Initiatives
- 10.10.5. SWOT Analysis
- *The List of Company Is Subject To Change During The Final Compilation of The Report
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