Nuclear Imaging Equipment Devices Market Research Report — Global Forecast till 2032

Nuclear Imaging Equipment Devices Market Research Report: Information By Product (SPECT Imaging Systems (Hybrid SPECT Imaging Systems, Standalone SPECT Imaging Systems), PET Imaging Systems, and Planar Scintigraphy Imaging Systems), By Application (Oncology, Cardiology, Neurology, and Other Application), By End-User (Hospitals, Imaging Centers, Academic & Research Centers, and Other End Users), By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/HC/14543-HCR | 128 Pages | Author: Rahul Gotadki | February 2024         

Global Nuclear Imaging Equipment Devices Market Overview 


Nuclear Imaging Equipment Devices Market Size was valued at USD 2.8 Billion in 2022. The nuclear imaging equipment devices market industry is projected to grow from USD 2.95 Billion in 2023 to USD 4.533 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2023 - 2032).  The growing emphasis on customized medications and advancements in radiotracers are the main market drivers of nuclear imaging equipment devices market revenue growth. Additionally, the expansion of the pharmaceutical sector and the increased incidence of long-term illnesses like cancer would boost market expansion.


Nuclear Imaging Equipment Devices Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Nuclear Imaging Equipment Devices Market Trends



  • Rising rates of chronic illnesses, such as cancer and heart disease is driving the market growth


The market for nuclear imaging equipment devices is anticipated to rise as chronic diseases become more common. In the United States, one in four persons had two or more chronic health issues, and over 117 million people suffered from at least one chronic health condition, according to a 2012 report from the Center for Chronic Disease Prevention and Health Promotion. Furthermore, the World Health Organization (WHO) projects that by 2020, chronic illnesses will be responsible for about three-quarters of all fatalities ly. According to WHO estimates, 71% of these deaths will be from Ischaemic Heart Disease (IHD) and 75% from stroke.


Over the course of the forecast period, rising applications for nuclear imaging equipment devices due to technical developments, nuclear imaging equipment development, and the shift from standalone to hybrid modalities for diagnostic purposes are likely to fuel market expansion. Further propelling market expansion will be government support for research and development initiatives aimed at creating new technologies in the healthcare sector. The market will have growth prospects due to the increasing awareness of the importance of early diagnosis and the development of new radiopharmaceuticals. Furthermore, an increasing trend in demand for data integrated imaging systems is expected to drive market expansion. ly, data integrated imaging systems are being used by hospitals and physicians to create three-dimensional images and obtain extensive information on a patient's diagnostic history.


Over the past ten years, hybrid systems have evolved significantly due to developments in imaging technology. The use of integrated PET modalities represents a significant improvement in this area. The major imaging system manufacturers no longer offer standalone PET systems due to the popularity of the PET/CT modality innovation. The success of the hybrid PET/CT systems has drawn interest in hybrid PET/MRI and SPECT/CT systems as well. Compared to standalone systems, these hybrid systems may provide exact images with higher resolution. They can offer both physiological and morphological details in a single evaluation. For instance, a SPECT/CT system improves the specificity of the information obtained by CT while also providing correct localization in the context of skeletal examination. Owing to benefits like these, a growing number of hospitals are switching from standalone to hybrid systems. The market for nuclear imaging equipment devices is expected to develop as a result of the growing acceptance of hybrid modalities. Thus, driving the nuclear imaging equipment devices market revenue.


Nuclear Imaging Equipment Devices Market Segment Insights


Nuclear Imaging Equipment Devices Product Insights


The  nuclear imaging equipment devices market segmentation, based on product includes SPECT Imaging Systems (Hybrid SPECT Imaging Systems, Standalone SPECT Imaging Systems), PET Imaging Systems, and Planar Scintigraphy Imaging Systems. The SPECT imaging systems segment dominated the market since the transition from solo to hybrid modalities is being driven by technical improvements. These hybrid technologies offer high-resolution, exact images that include physiological and morphological details.


Nuclear Imaging Equipment Devices Application Insights


The  nuclear imaging equipment devices market segmentation, based on application, includes Oncology, Cardiology, Neurology, and Other Application. The oncology category generated the most income because the frequency of cancers is increasing. Additionally, an upward trend in the segment's growth is anticipated because of the growing number of activities from both public and private entities to expand the use of radiotracers and advanced systems in oncology.


Nuclear Imaging Equipment Devices End-User Insights


The  nuclear imaging equipment devices market segmentation, based on end-user, includes Hospitals, Imaging Centers, Academic & Research Centers, and Other End Users. The hospitals category generated the most income because improved nuclear imaging technologies have been widely adopted. Furthermore, higher government spending on hospitals during the COVID-19 crisis is blamed for the segment's development.


Figure 1:  Nuclear Imaging Equipment Devices Market, by End-User, 2022 & 2032 (USD Billion)


Nuclear Imaging Equipment Devices Market, by End-User, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Nuclear Imaging Equipment Devices Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American nuclear imaging equipment devices market area will dominate this market. This is because more people are using new imaging technology, which should lead to better cancer therapy and higher-quality images. For instance, the nanoScan PET/MRI 3T preclinical in vivo imaging system was deployed in October 2018 by the Center for Quantitative Cancer Imaging at Huntsman Cancer Institute (HCI), University of Utah, to screen rodent tumor models. Moreover, over the projection period, it is anticipated that the rising incidence of cancer in North America will fuel demand for nuclear imaging equipment devices.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2:  NUCLEAR IMAGING EQUIPMENT DEVICES MARKET SHARE BY REGION 2022 (USD Billion)


NUCLEAR IMAGING EQUIPMENT DEVICES MARKET SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe nuclear imaging equipment devices market accounts for the second-largest market share due to the increased application of nuclear imaging equipment devices and the introduction of new radiopharmaceuticals for medical diagnosis. Furthermore, technological advancements combined with advancements in the healthcare sector are expected to further push the market's rise for nuclear imaging equipment devices in the region. Further, the German nuclear imaging equipment devices market held the largest market share, and the UK nuclear imaging equipment devices market was the fastest growing market in the European region


The Asia-Pacific Nuclear Imaging Equipment Devices Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the increasing prevalence of chronic illnesses, expanding knowledge of the advantages of early disease detection, and enhanced healthcare infrastructure in the area, all of which contribute to the market expansion for nuclear imaging equipment devices. Moreover, China’s nuclear imaging equipment devices market held the largest market share, and the Indian nuclear imaging equipment devices market was the fastest growing market in the Asia-Pacific region.


Nuclear Imaging Equipment Devices Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the nuclear imaging equipment devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, nuclear imaging equipment devices industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  nuclear imaging equipment devices industry to benefit clients and increase the market sector. In recent years, the nuclear imaging equipment devices industry has offered some of the most significant advantages to medicine. Major players in the nuclear imaging equipment devices market are attempting to increase market demand by investing in research and development operations includes DIGIRAD Corporation, Neusoft Corporation, Bartec Technologies Ltd., BCL X-Ray Canada Inc., CANON MEDICAL SYSTEMS CORPORATION, CMR Naviscan, SurgicEye GmbH, TTG Imaging Solutions, LLC., Lucerno Dynamics LLC., Absolute Imaging Inc., Berthold Technologies GmbH & Co.KG, Incom Inc., Koninklijke Philips N.V., GE Healthcare, and Siemens Healthineers AG.


Siemens Healthineers AG is a medical technology firm that designs, develops, produces, and sells minimally invasive procedure systems, clinical and workflow systems, and diagnostic imaging systems. Siemens Healthineers AG is a part of Siemens AG. The company's main offerings include point-of-care (POC) testing systems, mobile C-arms, hybrid ORs, angiography systems, ultrasound, computed tomography, magnetic resonance imaging, testing, and molecular imaging systems.


Software platforms and industry solutions linked to product engineering are offered by Neusoft Corp. (Neusoft). Performance engineering, IT infrastructures, software localization and ization, enterprise applications, enterprise intelligent products, business process outsourcing, healthcare goods, platform products, application development and maintenance, and IT education and training services are all provided by the organization. Furthermore provided are industrial services, cloud, professional testing, software engineering, performance engineering, and product engineering services.


Key Companies in the nuclear imaging equipment devices market include



  • DIGIRAD Corporation

  • Neusoft Corporation

  • TTG Imaging Solutions, LLC.

  • CANON MEDICAL SYSTEMS CORPORATION

  • SurgicEye GmbH

  • Absolute Imaging Inc.

  • CMR Naviscan

  • Bartec Technologies Ltd.

  • BCL X-Ray Canada Inc.

  • Lucerno Dynamics LLC.

  • Incom Inc.

  • Koninklijke Philips N.V.

  • Berthold Technologies GmbH & Co.KG

  • GE Healthcare

  • Siemens Healthineers AG


Nuclear Imaging Equipment Devices Industry Developments


October 2022: Omni Legend is a cutting-edge, all-digital PET-CT system from GE Healthcare that provides greater sensitivity, quicker procedure times, more operational effectiveness, and better patient outcomes. The company gained a competitive edge in the nuclear imaging devices industry with this product introduction.


June 2022: The FDA gave Siemens Healthineers AG the green light to market its Symbia Pro.specta. The versatile Symbia Pro.specta SPECT/CT system combines cutting-edge CT and SPECT imaging technologies. The company's operational capabilities and growth potential in the large market were strengthened by these product approvals.


November 2021: The first photon-counting CT scanner in history, the Naeotom Alpha, was introduced by Siemens Healthineers. It meets all technical requirements for high-quality images and is approved for use in all clinical settings in the United States and Europe.


Nuclear Imaging Equipment Devices Market Segmentation


Nuclear Imaging Equipment Devices Product Outlook



  • SPECT Imaging Systems

    • Hybrid SPECT Imaging Systems

    • Standalone SPECT Imaging Systems



  • PET Imaging Systems

  • Planar Scintigraphy Imaging Systems


Nuclear Imaging Equipment Devices Application Outlook



  • Oncology

  • Cardiology

  • Neurology

  • Other Application


Nuclear Imaging Equipment Devices End-User Outlook



  • Hospitals

  • Imaging Centers

  • Academic & Research Centers

  • Other End Users


Nuclear Imaging Equipment Devices Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Nuclear Imaging Equipment Devices Report Scope
Report Attribute/Metric Details
Market Size 2022 USD 2.8 Billion
Market Size 2023 USD 2.95 Billion
Market Size 2032 USD 4.533 Billion
Compound Annual Growth Rate (CAGR) 5.50% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Application, End-User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled DIGIRAD Corporation, Neusoft Corporation Bartec Technologies Ltd., BCL X-Ray Canada Inc., CANON MEDICAL SYSTEMS CORPORATION, CMR Naviscan, SurgicEye GmbH, TTG Imaging Solutions, LLC., Lucerno Dynamics LLC., Absolute Imaging Inc., Berthold Technologies GmbH & Co.KG, Incom Inc., Koninklijke Philips N.V., GE Healthcare, and Siemens Healthineers AG
Key Market Opportunities Growing improvements in nuclear imaging equipment devices technology
Key Market Dynamics Increasing prevalence of chronic disorders worldwide Rising breast cancer prevalence
 



Frequently Asked Questions (FAQ) :

The nuclear imaging equipment devices market size was valued at USD 2.8 Billion in 2022.

The market is projected to grow at a CAGR of 5.50% during the forecast period, 2023-2032.

The key players in the market are DIGIRAD Corporation, Neusoft Corporation Bartec Technologies Ltd., BCL X-Ray Canada Inc., CANON MEDICAL SYSTEMS CORPORATION, CMR Naviscan, SurgicEye GmbH, TTG Imaging Solutions, LLC., Lucerno Dynamics LLC., Absolute Imaging Inc., Berthold Technologies GmbH & Co.KG, Incom Inc., Koninklijke Philips N.V., GE Healthcare, and Siemens Healthineers AG.

The SPECT imaging systems category dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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