China Nuclear Imaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Nuclear Imaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Chinese nuclear imaging market is expected to grow with a CAGR of 9.45% during the forecast period (2022-2027).

In the early phase of the pandemic, the Chinese government implemented a nationwide public transportation freeze which halted all the operations of nuclear medicine departments. There was a drastic reduction of patients for imaging and therapy in the nuclear medicine departments and radioimmunoassay procedures were postponed till the situations return to normal. The hospital staff from the nuclear medicine department were reassigned to different areas such as logistics and triage areas in the case of government hospitals, and some nuclear medicine services were shut down in the country.​ According to the study “Impact of COVID-19 on Nuclear Medicine in Asia” published in National Center for biotechnology information published in June 2021, a survey conducted between March 2020 and April 2020 indicated that one-fourth of the nuclear medicine clinics in China and other countries were shut down due to decrease in radioisotopes supply, nuclear medicine ward was allotted to COVID-19 patients, and doctors and paramedics were shifted towards management of COVID-19 crisis. The radioisotopes supply was maintained only in 25% of the nuclear medicine clinics for the essential services to be performed. A survey was again performed between March 2021 and April 2021, indicating that the nuclear medicine practice increased by 41% as compared to same time period in 2020. The supply of radioisotopes also showed recovery phase.

Recent years have observed significant growth in the application of nuclear medicine and imaging. The rising prevalence of bone diseases and cancer in China, along with the technological advancements in the field of diagnostics, is expected to drive the growth of the market over the forecast period. For instance, according to the GLOBOCAN 2020, estimated number of new cases, including both sexes and all ages, in 2020 in China were 4.57 million. As per the same source, the number is estimated to reach 6.85 million by the year 2040. Thus, the anticipated increase in the prevalence of cancer cases is expected to fuel the demand for nuclear imaging diagnosis in the country, thereby proliferating the market growth.

There are various strategic initiatives being undertaken by the major players. These include mergers, acquisitions, collaborations, partnerships, and product launches. For instances in June 2021 Koninklijke Philips N.V. and Zhejiang University signed a deal for expansion and upgrading Ultrasound Image Guided Therapy and Monitoring Analytics and Therapeutic Care solutions infrastructure in China. The collaboration and strategic partnership are expected to increased in the China for instances April 2021, Siemens Medical Systems Co., Ltd. and Astrazeneca Investment (China) Co., Ltd. signed a strategic cooperation agreement, which will combine and utilize their respective advantages in the field of pharmaceutical development and medical devices to carry out medical research cooperation.

However, there are certain factors that are hindering the growth of the market, such as the shorter half-life of radiopharmaceuticals and high cost of the techniques.

Key Market TrendsThe Neurology by Application Segment is Expected to Grow with a Significant CAGR

The market for SPECT and PET applications in neurology is growing due to a variety of factors. The factors that are leading to the growth of this segment include the high burden of neurological and brain disorders and research studies of SPECT in diagnosing neurological issues. According to the study titled "Findings in Chinese Patients With Parkinson's Disease: A Content Analysis From the SML Study" published in the Frontier in Psychiatric in February 2021, In China, the Han population's average prevalence of PD is 3.9% of those over 50. By 2030, it is predicted that 4.94 million Chinese people will have Parkinson's disease, making up half of all Parkinson's Disease (PD) patients worldwide. The high burden of PD disorders is expected to boost the demand for SPECT imaging that can be used for diagnosis, This is expected to boost the market growth in a positive manner.​

Many research studies are being conducted in China on the use of SPECT imaging. For instance, in March 2021, an article titled, ‘Clinical characteristics of Lewy body dementia in Chinese memory clinics’ was published in BMC Neurology online journal by researchers from China National Clinical Research Center for Neurological Diseases and other hospitals. The researchers found out that the sensitivity and specificity of 123I-FP-CIT SPECT scans to clinically diagnose probable dementia with Lewy bodies (DLB) are 77.7 and 90.4%, respectively. The high specificity and sensitivity is expected to increase the usage of SPECT across China leading to its market growth.

Furthermore, technological advancements and initiatives taken by various manufacturers will also boost the growth of nuclear imaging in the market. For instance, in May 2021, United Imaging, a China based company involved in medical imaging and radiotherapy equipment, launched its uAIFI Technology Platform for MR and uExcel Technology Platform for PET/CT at the China International Medical Equipment Fair (CMEF). The uAIFI Technology platform provides the new MR systems with significant performance enhancements, more powerful imaging capabilities, better workflow, and improved user experience. Therefore, helping in driving the growth of the studied market in the region.

Therefore, the above-mentioned developments are further expected to improve the market growth in this segment.​

Competitive Landscape

The market comprises of major market players and these players are moreover focusing on R&D to strengthen their position in the market. The market has been noticing technological developments on a large scale for the past couple of years. Some of the market players are Bayer AG, Bracco Imaging SpA, Canon Inc., Cardinal Health Inc., China Isotope & Radiation Corporation (CIRC), Curium Pharma, GE Healthcare, Global Medical Solutions Ltd, Koninklijke Philips NV, Siemens Healthineers, and Yantai Dongcheng Pharmaceutical Group Co. Ltd.

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