Global Nuclear Imaging Equipment Market Insights – Trends & Forecast 2024-2034

Nuclear Imaging Equipment Market Outlook

The sales of nuclear imaging equipment are estimated to evolve at a CAGR of 5.4% between 2024 and 2034. The nuclear imaging equipment market size is expected to expand from USD 3 billion in 2024 to USD 5.1 billion through 2034.

Due to applied research and technological improvements, the nuclear imaging device market has been expanding steadily. The aging population's heart and neurological conditions, as well as the rising rate of cancer, are contributing factors to the nuclear imaging equipment market’s upward trend.

The nuclear imaging equipment industry is growing faster due to better healthcare facilities, more diagnostic imaging centers, better health insurance, and more advantageous reimbursement practices in emerging economies.

Attributes	Details
Market Value for 2024	USD 3 billion
Market Value for 2034	USD 5.1 billion
Market CAGR from 2024 to 2034	5.4%

Prime Movers of Growth in the Nuclear Imaging Equipment Market

• A key factor propelling the nuclear imaging device market is the rising incidence of chronic illnesses like cancer, heart problems, and neurological disorders. Modern diagnostic technologies are frequently needed for an accurate and timely diagnosis of certain medical disorders.
• The increase in the growth of the nuclear imaging instrument market is mostly due to government initiatives, investments, and funds that support the development of healthcare infrastructure, research, and new diagnostic technologies.
• Combined with other imaging modalities, nuclear imaging offers full diagnostic data. The adoption of nuclear imaging equipment in conjunction with other imaging technologies is encouraged by this trend.
• Age-related illnesses and ailments are becoming common as the world's population ages. Nuclear imaging is essential for identifying and tracking these health problems in the senior population, which elevates demand for nuclear imaging equipment.

Attributes	Details
Market Value for 2019	USD 2.1 billion
Market Value for 2023	USD 2.8 billion
Market CAGR from 2019 to 2023	7.1%

Impediments to Market Advancement in Nuclear Imaging Equipment

• Nuclear imaging equipment has a significant initial cost. This expense for healthcare facilities, especially those with tight resources, is hampered by the widespread adoption of nuclear imaging equipment.
• There are ambiguous or restricted payment guidelines for nuclear imaging treatments. This affects the nuclear imaging equipment demand by posing financial difficulties for patients and healthcare providers.
• Nuclear imaging equipment operation and result interpretation call for specific training. Nuclear imaging technologies are not widely adopted because of the scarcity of specialists with the necessary training due to the intricacy of these processes.

Category-wise Outlook

In the segmented nuclear imaging equipment market analysis, SPECT systems emerge as the prevalent product category endowed by expansive research. Within applications, oncology leads the way, supported by comprehensive studies.

These discoveries underscore the significance of SPECT systems in diagnosing various conditions, particularly in oncology, reflecting a trend toward precision medicine and targeted therapies.

SPECT Systems Align with Evolving Healthcare Demands

Attributes	Details
Top Product	SPECT Systems
CAGR % 2019 to 2023	6.9%
CAGR % 2024 to End of Forecast (2034)	5.1%

• Due to their practicality and affordability, SPECT systems are a prevalent option in the nuclear imaging equipment market.
• The market leadership of SPECT is a result of its proven track record in diagnostic imaging, which gives prospective customers trust.
• SPECT systems are progressively common because of their efficiency and practicality, which meet the changing needs of healthcare practitioners.
• SPECT systems are widely used in business, and this highlights their importance and potential for high returns on investment when companies formulate their strategies.

Oncology's Dominance in Sales of Nuclear Imaging Equipment

Attributes	Details
Top Application	Oncology
CAGR % 2019 to 2023	6.6%
CAGR % 2024 to End of Forecast (2034)	4.8%

• The growing need for precise cancer diagnosis and staging propels the adoption of nuclear imaging equipment.
• Nuclear imaging strengthens its market domination and is critical in oncology therapy planning and response assessment.
• The healthcare industry purchases nuclear imaging equipment due to ongoing developments in oncology imaging procedures.
• Nuclear imaging equipment is in high demand in oncology due to growing knowledge of the advantages of early cancer detection.

Country-wise Analysis

Tables highlighting South Korea, Japan, China, the United States, and the United Kingdom illustrate the market's considerable potential for nuclear imaging equipment. Based on a comprehensive analysis, South Korea is considered especially promising, offering significant growth potential in the global nuclear imaging equipment market.

Rising Healthcare Expenditure Spurs Demand for Nuclear Imaging Equipment in South Korea

Country	South Korea
HCAGR (2019 to 2023)	11.4%
CAGR (2024 to 2034)	7.2%

• The demand for nuclear imaging equipment is influenced by the increased incidence of chronic diseases and rising healthcare costs in South Korea.
• South Korea nuclear imaging device market to reach a valuation of USD 304 million by 2034.
• Robust research and development programs in nuclear medicine facilitate the evolution of imaging technology in South Korea.
• South Korea has a rising demand for nuclear imaging equipment due to the emphasis on early disease identification and preventative healthcare.

Aging Population Stimulates Demand for Advanced Nuclear Imaging Solutions in Japan

Country	Japan
HCAGR (2019 to 2023)	9.4%
CAGR (2024 to 2034)	6.5%

• The demand for nuclear imaging technology for diagnosis and treatment planning is fostered by Japan's aging population and high cancer incidence.
• The introduction of modern nuclear imaging technologies in Japan is spurred by government programs promoting customized healthcare and precision medicine.
• Japan nuclear imaging system market to achieve a worth of USD 597.6 million by 2034.
• Japan's nuclear imaging equipment market is expanding due to rising healthcare spending and growing public awareness of the advantages of early disease detection.

Rapid Urbanization Boosts Nuclear Imaging Equipment Market in China

Country	China
HCAGR (2019 to 2023)	8.8%
CAGR (2024 to 2034)	6.3%

• The country's booming medical tourism industry and developing healthcare infrastructure are the primary catalysts of China's demand for nuclear imaging equipment.
• China nuclear imaging technology market to attain a valuation of USD 799.4 million by 2034.
• The adoption of nuclear imaging technology for precise diagnosis and treatment monitoring is growing in China due to the country's rising rates of cancer and cardiovascular illnesses.
• China's nuclear imaging tool market is growing partly due to the country's rapid urbanization and rising disposable incomes.

Technological Innovations Accelerate Nuclear Imaging Equipment Market Expansion in the United States

Country	United States
HCAGR (2019 to 2023)	7.8%
CAGR (2024 to 2034)	5.7%

• Investments in nuclear imaging equipment are encouraged in the United States by favorable reimbursement rules and a supportive regulatory environment.
• The United States is adopting nuclear imaging technology at a faster rate due to the growing frequency of chronic diseases and the increased desire for minimally invasive procedures.
• The United States nuclear imaging instrument market to acquire worth USD 903.4 million by 2034.
• Nuclear imaging equipment is in high demand in the United States owing to technological advancements, including hybrid imaging systems.

Growing Focus on Early Disease Detection Strengthens Nuclear Imaging Equipment Demand in the United Kingdom

Country	United Kingdom
HCAGR (2019 to 2023)	5.3%
CAGR (2024 to 2034)	4.3%

• A growing emphasis on customized medicine and early disease diagnosis prompts the United Kingdom's demand for nuclear imaging equipment.
• The United Kingdom nuclear imaging tool market to attain a valuation of USD 162 million by 2034.
• Research and development investments facilitate the development and innovation of nuclear imaging technology in the United Kingdom.
• The demand for nuclear imaging equipment in the United Kingdom's healthcare sector is bolstered by a growing understanding of the advantages of nuclear medicine.

Competitive Analysis

A few nuclear imaging equipment manufacturers control a large portion of the market, which fosters innovation and shapes the sector. Leading the way are reputable companies with a track record of innovation, such as Siemens Healthineers, GE Healthcare, and Koninklijke Philips N.V. The nuclear imaging equipment vendors push the envelope and establish standards for nuclear imaging technology improvements.

Other prominent nuclear imaging equipment providers, like Toshiba Corporation and Hitachi Ltd., enhance the competitive landscape with various products and services by bringing their knowledge and contributions. These producers use their advantages in manufacturing, research and development, and research to stay ahead of the nuclear imaging equipment market.

Emerging nuclear imaging equipment producers, such as Canon Medical Systems Corporation and Neusoft Medical Systems Co., Ltd., challenge conventional wisdom and spur competitiveness by bringing new ideas and inventiveness. The nuclear imaging tool market is partly dynamic because of its adaptability and commitment to meeting changing client needs.

The market's competitive dynamics are shaped by regional nuclear imaging equipment suppliers and niche specialists that provide specialized services to target market segments and geographic areas. The demand is defined by fierce competition among major nuclear imaging equipment manufacturers fueled by innovation, dependability, and a never-ending quest for excellence, guaranteeing ongoing breakthroughs and better patient outcomes.

Notable Developments

Company	Details
Koninklijke Philips N.V.	Mercurius Health, Elekta, and Koninklijke Philips N.V. announced in May 2023 a three-year contract under which Mercurius Health is going to set up informatics solutions and diagnostic and therapeutic oncology equipment from Elekta at the recently acquired Robert Janker Klinik cancer center in Bonn, Germany.
Bartec Technologies Ltd.	The United Kingdom-based business Bartec Technologies Ltd., which specializes in providing, installing, and maintaining accessories and equipment for nuclear medicine and molecular imaging, was acquired by Mediso Ltd. in April 2022. It is anticipated that this acquisition will enhance Mediso's standing in the marketplaces in the UK and Ireland.
Siemens Healthineers	Siemens Healthineers unveiled the Symbia Pro. specta, a SPECT/CT system that the FDA and CE have approved marked, in June 2022. Advanced SPECT and CT imaging technologies are included in this system. Among the noteworthy characteristics is a low-dose CT that can record up to 64 slices and provide detailed imaging.
Canon, Inc.	Canon, Inc. decided to create a brand-new company in November 2022, naming it Canon Healthcare the United States of America INC. By strengthening its position in the United States medical market, Canon contributed to the growth of the medical industry.

Vital Nuclear Imaging Equipment Manufacturers

• Philips Healthcare
• GE Healthcare
• Siemens Healthineers AG
• Digirad Corporation
• Mediso Medical Imaging Systems Ltd
• DDD-Diagnostics A/S
• Neusoft Medical Systems Co. Ltd.
• SurgicEye GmbH
• CMR Naviscan Corporation

Key Coverage in Nuclear Imaging Equipment Market Report

• Competitive Dynamics Insights for Nuclear Imaging Equipment Market
• Demand for Nuclear Imaging Equipment in South Korea
• Market Opportunities for Nuclear Imaging Equipment in Japan
• Adjacent Study on the Nuclear Imaging Tool Market, Nuclear Medicine Equipment Market, and Molecular Imaging Market
• Competition Analysis of Nuclear Imaging System Market with a Focus on Koninklijke Philips N.V., Bartec Technologies Ltd., and Siemens Healthineers

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product
  • 5.1. SPECT Systems
  • 5.2. Hybrid PET Systems
  • 5.3. Planar Scintigraphy
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 6.1. Oncology
  • 6.2. Cardiology
  • 6.3. Neurology
  • 6.4. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User
  • 7.1. Hospitals
  • 7.2. Imaging Centers
  • 7.3. Academic and Research Centers
  • 7.4. Others
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Siemens AG
  • 18.2. GE Healthcare
  • 18.3. Philips Healthcare
  • 18.4. Digirad Corporation
  • 18.5. Surgiceye GmbH
  • 18.6. Koninklijke Philips N.V.
  • 18.7. Toshiba Medical Systems Corporation
  • 18.8. Neusoft Medical Systems Co., Ltd.
  • 18.9. Mediso Medical Imaging Systems Co., Ltd
  • 18.10. CMR Naviscan Corporation
• 19. Assumptions & Acronyms Used
• 20. Research Methodology