USD 3.25 Billion
Nuclear Imaging Equipment Market Size, Share, Growth Analysis, By Product (Single-Photon Emission Computed Tomography (SPECT) Imaging Systems, Hybrid PET Imaging Systems), By Application (Oncology, Cardiology), By End User (Hospitals, Imaging Centers), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35A2959 |
Region:
Global |
Published Date: November, 2024
Pages:
189
|Tables:
64
|Figures:
70
Nuclear Imaging Equipment Market Insights
Nuclear Imaging Equipment Market size was valued at USD 3.25 Billion in 2023 and is poised to grow from USD 3.49 Billion in 2024 to USD 6.18 Billion by 2032, growing at a CAGR of 7.41% during the forecast period (2025-2032).
As the name suggests, nuclear imaging equipment are the crucial devices that visualize and diagnose different medical diseases with the help of radioactive materials. Several innovations and developments are taking place including hybrid imaging systems like PET/MRI, and PET/CT, which improve functionality and accuracy of diagnostics. The rising cases of chronic illnesses, the growing healthcare expenditure, and improvements in radiopharmaceuticals notably drive the market. Nonetheless, a few challenges observed in the market include regulatory barriers and high costs associated with radioactive materials. Despite this, the market will witness significant growth over the coming years owing to opportunities like simplified approvals for novel developments and the growing emphasis on patient experience.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Oncology
Fastest Growth
Cardiology
Growth Rate
7.41% CAGR
Global Nuclear Imaging Equipment Market ($ Bn)
Country Share for North America Region (%)
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Nuclear Imaging Equipment Market Segmental Analysis
Global Nuclear Imaging Equipment Market is segmented by Product, Application, End User, and Region. Based on Product, the market is segmented into Single-Photon Emission Computed Tomography (SPECT) Imaging Systems (Hybrid SPECT Imaging Systems, Standalone SPECT Imaging Systems), Hybrid PET Imaging Systems, Planar Scintigraphy Imaging Systems. Based on Application, the market is segmented into Oncology, Cardiology, Neurology, Other Applications. Based on End User, the market is segmented into Hospitals, Imaging Centers, Academic & Research Centers, Other End Users. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Technology
Based on technology, the nuclear imaging equipment market is segmented as PET, PET/CT, SPECT, SPECT/CT. The SPECT segment held a significant share of the market in 2023 and is anticipated to lead over the forecast period owing to its broad applications in neurology, cardiology, and oncology. It can examine several physiological functions and tissues, making it a highly versatile alternative for medical experts. It is also affordable in comparison to PET in terms of operational costs and purchase, increasing their accessibility in wider applications. Furthermore, the technology has been well-established for decades and holds a better track record as the most suitable diagnostic tool, impacting its growth.
The PET segment is anticipated to be the fastest-growing segment owing to the growing focus on oncology due to increasing incidences of cancer on the global scale. PET is relatively more effective than others for cancer monitoring, detection, and treatment planning owing to its capability of visualizing metabolic events, needed for examining tumor activity and response to the therapy. Moreover, PET offers better imaging with enhanced sensitivity and high-resolution, enabling accurate localization and detection of anomalies at cellular level, which is important for staging and diagnosing accurately, mainly in oncology. These factors will help the segment grow over the forecast period.
Analysis by Application
Based on application, the market is segmented into oncology, neurology, and cardiology. The oncology segment has dominated the market in the past years and is projected to lead in the future as well owing to the rising cases of cancer. On the global scale cancer tops as the leading cause of death, which ultimately demands improved monitoring and diagnostic technologies. Also, advanced nuclear imaging techniques, essentially PET, offer specific and highly sensitive imaging of metabolic events in tumors, streamlining accurate staging and early detection. Moreover, improvements in imaging technology and pharmaceuticals improve efficiency of nuclear imaging and characterize different cancers, impacting the segmental growth.
On the other hand, the cardiology segment is projected to hold a significant market share in the coming years owing to the growing number of cases of cardiovascular illnesses. The increasing number of heart diseases is the major cause of mortality and morbidity, intensely demanding advanced diagnostic techniques for better access to heart health. Nuclear imaging, mainly SPECT, is comparatively more effective in examining perfusion, cardiac function, and ischemia, offering diagnosis and critical details for several heart conditions. Also, the amalgamation of nuclear imaging with others like CT improved the accuracy of diagnosis and offered exhaustive details on cardiac function and anatomy.
Global Nuclear Imaging Equipment Market Size By Application
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Nuclear Imaging Equipment Market Regional Insights
Region-wise, North America is the dominating region among others and is expected to lead over the forecast period owing to its state-of-art technologies and the growing cases of chronic illnesses. The region has high-tech healthcare infrastructure with several improved diagnostic services and healthcare settings equipped with modern nuclear imaging tools. Moreover, the region tops in the implementation of the latest technologies and upgrades like superior nuclear imaging, impacted by constant research and innovations. The region also holds a larger number of nuclear imaging suppliers and manufacturers, supporting the market growth. The key players operating in the region include GE HealthCare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems USA, Lantheus Medical Imaging, and more.
Asia-Pacific is the fastest-growing region in global nuclear imaging equipment market due to the progressing healthcare infrastructure and the growth of medical services and facilities in different nations of the region that spur the deployment of improved medical technologies. Moreover, the rising healthcare budgets and economic growth in nations like India and China are impacting higher funding and investments in superior medical technologies. Regional growth is also impacted by the increasing number of health initiatives and programs to enhance healthcare access and quality care.
Global Nuclear Imaging Equipment Market Size By Geography
- Largest
- Fastest
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Nuclear Imaging Equipment Market Dynamics
Drivers
Development of Hybrid Systems
- The emergence of hybrid systems, such as PET/MRI and PET/CT blends the powers of diverse imaging modalities, offering higher precision and exhaustive diagnostic details. The awareness and growing significance of these imaging systems is propelling market growth. Also, improvements in radiopharmaceuticals enhance accuracy of imaging and widen the number of conditions with nuclear imaging, impacting the market growth.
Rising Healthcare Expenditure
- Increasing spending and high healthcare budgets on improved diagnostic tools is majorly impacting the progress of the nuclear imaging equipment market. Investments and funding in several healthcare facilities and rising diagnostic services in the developing as well as developed markets is demanding superior imaging equipment. This is further contributing to market growth.
Restraints
Low Availability of Radiopharmaceuticals
- The development of radiopharmaceuticals needed for nuclear imaging is complex and restricted. Problems associated with production capacity, supply chain, and quality control may notably impact availability, thus restraining the market growth. Also, most radiopharmaceuticals employed in imaging hold short half-lives, which increased the demand for speedy distribution and production, which could be difficult.
Safety and Health Concerns
- Although nuclear imaging radiations are regarded as safe, issues associated with possible long-term side effects of exposure may create hesitation among healthcare experts and patients from using these advanced technologies. Also, confirming strict norms for managing radioactive materials further supports the operational costs and complexity, thus restraining the market growth.
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Nuclear Imaging Equipment Market Competitive Landscape
The global nuclear imaging equipment market is a highly competitive global market driven by many international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment.
Top Player’s Company Profiles
- Siemens AG
- General Electric
- Koninklijke Philips N.V.
- TTG Imaging Solutions
- Neusoft Corporation
- Canon Inc.
- Surgiceye GmbH
- Bozlu Holding
- CMR Naviscan Corporation
- Mediso Ltd.
- Shimadzu Corporation
- Revvity Inc
- Rigaku
- MR Solutions Ltd.
- Agfa-Gevaert N.V
- Medtronic plc
- Bracco Group
- Cubresa Inc.
- Jubilant Radiopharma
- South African Nuclear Energy Corporation (Necsa)
Nuclear Imaging Equipment Key Market Trends
- Progress in Radiopharmaceuticals: Modernizations in radiopharmaceuticals are widening the number of diseases that can be effectively diagnosed with advanced nuclear imaging. Novel tracers and currently being improved for certain cancer types, cardiovascular disease, and neurological disorders. Also, the combination of targeted therapy with diagnostic imaging known as theragnostic is gaining popularity. It specializes in treating oncological diseases.
- Improvements in Imaging Technologies: Currently, there is an increased interest in producing compact and portable nuclear imaging systems that can be used in different clinical settings, such as underserved and remote locations. Research is also being done in wearable devices that could deliver real-time imaging and constant monitoring capabilities. These efforts will notably gain prominence in the coming years.
Nuclear Imaging Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the nuclear imaging equipment market is witnessing considerable growth due to the growing geriatric population that demands advanced imaging technologies, rising education and awareness for accurate and early diagnosis, and continuous R&D. The market is also propelled by the increasing diagnostic imaging capabilities. However, the market is restrained by regulatory challenges and the initial investment needed for nuclear imaging machines. North America is anticipated to lead the market owing to the strong research and development framework, exhaustive healthcare coverage, and strong presence of leading market players. Nonetheless, some opportunities for the growth of the nuclear imaging equipment market include improved imaging capabilities, demand for early diagnosis, and the rising number of chronic illnesses.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.25 Billion |
| Market size value in 2032 | USD 6.18 Billion |
| Growth Rate | 7.41% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Nuclear Imaging Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Nuclear Imaging Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Nuclear Imaging Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nuclear Imaging Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nuclear Imaging Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nuclear Imaging Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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