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Nuclear Imaging Equipment Market
Nuclear imaging market set for steady growth at 3.87% CAGR from 2024 to 2032, fueled by rising chronic disease prevalence and AI-driven innovations.
AUSTIN, TX, UNITED STATES, January 30, 2025 /EINPresswire / -- According to Research by SNS Insider, the global Nuclear Imaging Equipment Market , valued at USD 3.78 billion in 2023, is expected to reach USD 5.32 billion by 2032, growing at a CAGR of 3.87%.
The global nuclear imaging equipment market driven by technological advancements in diagnostic imaging, a rising demand for early-stage disease detection, and the increasing prevalence of chronic diseases, particularly cancer.
Market analysis
Nuclear imaging equipment is essential to modern medicine for doctors to diagnose diseases at an earlier stage by delivering high-quality images of the human body's internal organs and structures. Especially in fields like oncology, cardiology, and neurology, where early detection is the key to effective treatment, it is invaluable. Due to the increasing number of cancer disorders around the world which, with an estimated 9.6 million new cancer cases in 2023, will continue to accelerate in the upcoming decades, there is a high demand for nuclear imaging in oncology diagnostics. Spending on cancer care in the United States exceeds USD 150 billion each year (National Cancer Institute [NCI]), much of that directed toward diagnostic imaging. In addition, the increasing prevalence of cardiovascular and neurological diseases will drive more demand for nuclear imaging systems, considerably propelling the market expansion.
Nuclear imaging devices incorporate radioactive tracers to generate highly detailed images that give clinicians critical functional and structural information about organs, tissues and bones. One of the major factors, fuelling the growth of global demand for nuclear imaging equipment, is increasing utilization of this technology in personalized medicine, particularly in cancer diagnosis and treatment.
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Key Players in Nuclear Imaging Equipment Market
.DIGIRAD Corporation
.Neusoft Corporation
.CANON MEDICAL SYSTEMS CORPORATION
.SurgicEye GmbH
.CMR Naviscan.
.Absolute Imaging Inc.
.Bartec Technologies Ltd.
.BCL X-Ray Canada Inc.
.TTG Imaging Solutions LLC.
.Lucerno Dynamics LLC.m
.Berthold Technologies GmbH & Co
.Incom Inc.
.Koninklijke Philips N.V.
.GE Healthcare
.Siemens Healthineers AG and others.
Segment Analysis
By Modality
In 2023, the Single Photon Emission Computed Tomography (SPECT) segment led the nuclear imaging equipment market, generating 59% of the total market revenue. Single Photon Emission Computed Tomography, or simply SPECT, can be effectively used for detecting a variety of conditions, such as cardiac, neuro, and oncology, and all of this makes SPECT systems very well-adopted solutions with well-balanced cost and imaging versatility. They provide level of three-dimensional detail and are frequently used for functional imaging. PET systems have also been increasing in popularity, because of their relatively high sensitivity and resolution, resulting in more accurate images than SPECT. Despite this, it will be more difficult to adopt due to the high cost and the provision of infrastructure required for PET scans, so the dominant modality will still be SPECT in low- and middle-income countries.
By Application
In 2023, oncology segment led the market contributing to 49.21% of the total revenue share. Nuclear imaging is an essential tool for the diagnosis and treatment monitoring of various cancers, including breast, lung, and colorectal cancers. With the ongoing increase in the global cancer burden, the early identification of tumors has become paramount, and nuclear imaging techniques like positron emission tomography (PET) and single photon emission computed tomography (SPECT) are essential tools for oncologists. Furthermore, the rise of personalized medicine, which tailors treatment plans based on an individual patient's genetic profile, will continue to drive the need for sophisticated nuclear imaging to provide information necessary for targeted treatment choices. Nuclear imaging allows for the accurate detection of cancer metastasis, the staging of tumors, and the monitoring of response to treatment.
By End-Use
The hospital segment held the largest revenue share of 52.75% of the nuclear imaging equipment market in 2023. Hospitals are the primary end-users of nuclear imaging technologies due to their advanced medical infrastructure and a higher number of diagnostic imaging procedures conducted in these settings. Moreover, hospitals are the major end-users of cancer therapies that comprise nuclear imaging systems, particularly, for oncology applications.
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Nuclear Imaging Equipment Market Segmentation
By Modality
.SPET
.PET
By Application
.Cardiology
.Oncology
.Neurology
.Others
By End-use
.Hospitals
.Imaging Centers
.R&D
.Others
Regional Analysis
The North America held 42% of total revenue share in 2023. Market growth in the region is mainly attributed to the presence of prominent healthcare providers, advanced healthcare infrastructure and increasing adoption of advanced diagnostic techniques. Specifically, the United States is the leading consumer of nuclear imaging systems market as a result of substantial investment by the government in healthcare research, well-established government funding for cancer research, and high prevalence of chronic diseases. In 2023, the National Institutes of Health (NIH) earmarked more than USD 6.5 billion for cancer research, much of which fund's research into innovative imaging technologies for cancer diagnosis and management. The high prevalence of cancer, cardiovascular diseases, and neurological diseases will augment the demand for nuclear imaging equipment in North America, further providing lucrative growth opportunities.
The nuclear imaging equipment market in the Asia-Pacific region is expected to grow at the highest CAGR. Some of the major factors driving the growth of the market include increasing healthcare spending, advancements in diagnostic imaging technologies, and the growing prevalence of cancer and other chronic diseases. China, India, and Japan are some of the countries that are becoming these main markets due to the expansion of the healthcare infrastructure and the high demand for medical imaging services. Moreover, there are other regional government initiatives too emphasising on healthcare spending in the Asia-Pacific countries with a prediction to surpass USD 1 trillion in healthcare expenditure by the year 2030 in the country, China amongst others.
Recent Developments
.GE Healthcare releases advanced imaging systems for faster, more precise cancer diagnosis and treatment monitoring with new generation PET/CT system in December 2023. The purpose of this new system is to enhance the accuracy of nuclear imaging and facilitate the workflow of clinical decision-making
.In November 2023, Siemens Healthineers launched new laparoscopic high-definition SPECT scanner which is able to deliver high-quality images for oncology and cardiology indications. It includes an advanced scanner for more accurate diagnosis, which can also detect tumors and heart diseases at a higher level of sensitivity.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Nuclear Imaging Equipment Market by Modality
8. Nuclear Imaging Equipment Market by Application
9. Nuclear Imaging Equipment Market by End-use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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