Nuclear Imaging Equipment Market Size, Share & Trends Analysis Report By Modality (SPECT, PET), By Application (Cardiology, Oncology, Neurology), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Nuclear Imaging Equipment Market Size, Share & Trends Analysis Report By Modality (SPECT, PET), By Application (Cardiology, Oncology, Neurology), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Nuclear Imaging Equipment Market Growth & Trends

The global nuclear imaging equipment market is anticipated to reach USD 7.91 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.14% during the forecast period. The primary factor contributing to the market is the increasing prevalence of chronic diseases and the growing demand for accurate and early diagnostic techniques. Nuclear imaging devices play a pivotal role in the diagnosis of conditions such as cancer, cardiovascular diseases, and neurological disorders, contributing to the expanding applications of these technologies in clinical settings.

Numerous technological advancements and ongoing research and development activities also play a pivotal role in driving market growth. A notable example is the introduction of hybrid imaging systems that integrate nuclear imaging with other modalities such as computed tomography (CT) and magnetic resonance imaging (MRI). These integrated solutions provide comprehensive diagnostic information, giving more efficient and precise patient assessments. For instance, as reported in an article by Siemens Healthcare in April 2023, doctors in Brazil and Argentina discovered that upgrading their PET/CT scanners not only enabled them to effectively address new patient demands and alleviate scheduling pressures but also surpassed expectations by creating opportunities to explore new areas of care.

Moreover, the aging population is a significant factor contributing to the growing demand for nuclear imaging in healthcare. As the elderly population is more prone to various health issues, there is an increase in the requirement for accurate diagnostic tools capable of aiding in the early detection and monitoring of age-related diseases.For instance, according to the World Health Organization (WHO), it is projected that by the year 2030, one in six people worldwide will be aged 60 years or over. This demographic shift emphasizes the increasing prevalence of an aging population and underscores the importance of advanced diagnostic tools, such as nuclear imaging, in addressing the healthcare needs of this demographic group.

Nuclear Imaging Equipment Market Report Highlights

• On the basis of modality, SPECT segment dominated the market in 2023 by capturing a share of 58.86%
• On the basis of application, the oncology segment dominated the market with a share of 49.21%.
• The cardiology segment is expected to grow at the fastest rate over the forecast period
• Among end-use, hospitals held a majority share of the market of 52.75% in the year 2023. As hospitals are adopting nuclear imaging equipment at an increasing rate
• North America dominated the market with a share of 42.00% in 2023. The market is competitive, with both established companies and emerging players striving to capture market share through product innovation, mergers, acquisitions, and partnerships. Thus, the presence of the key players in this region enhances the industry's growth

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