Nuclear Imaging Devices Market - By Product Type (Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), Planar Scintigraphy), By Application (Oncology, Cardiology, Neurology), By End User (Hospitals, Diagnostic Imaging Centers) – Global Forecast to 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNuclear Imaging Devices Market Size
Nuclear Imaging Devices Market size was valued at over USD 3 billion in 2022 and is anticipated to grow at a CAGR of over 4.9% between 2023 and 2032. Growing demand for non-invasive diagnostic tools along with rising emphasis on personalized medicine, thereby impelling the demand for nuclear imaging devices industry.
The industry refers to the segment of the medical imaging industry that involves the use of radioactive tracers and specialized imaging equipment to visualize and assess the physiological and metabolic functions of organs and tissues within the human body. Nuclear imaging techniques utilize radiopharmaceuticals that emit gamma rays or positrons, which are detected by dedicated imaging devices to create images and provide functional information. The market is driven by several factors such as the increasing prevalence of chronic diseases, technological advancements in imaging systems and radiopharmaceuticals.
Medical imaging is getting a boost from exciting new technologies in nuclear imaging. These advancements provide clearer images, leading to better outcomes for patients and overall expansion of healthcare industries. Hybrid imaging systems are also playing a significant role. They combine the functional imaging capabilities of techniques like SPECT and PET with anatomical imaging tools like CT and MRI. These systems, such as PET/CT and SPECT/CT, provide detailed and accurate images by combining functional and structural information. This improved accuracy helps diagnose issues, pinpoint abnormalities, and treat patients more effectively. Healthcare companies are also investing heavily in research and development to create new and improved nuclear imaging devices. This ongoing innovation will further accelerate the growth of the industry, providing even better diagnostic tools for healthcare professionals.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Nuclear Imaging Devices Market Size in 2022 | USD 2.9 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 4.9% |
| 2032 Value Projection | USD 4.6 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 183 |
| Tables, Charts & Figures | 280 |
| Segments covered | Product Type, Application, End-user, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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COVID-19 Impact
The COVID-19 pandemic turned the healthcare world upside down. All the attention and resources went towards fighting the virus, which meant that some other medical procedures had to take a backseat. Imaging tests, like nuclear scans, weren't as urgent, so many hospitals put them on hold to focus on COVID-19 patients and keep the virus from spreading. But that didn't mean that there was no demand for nuclear imaging devices. In fact, some governments realized that these machines were actually essential for diagnosing and treating COVID-19. As the pandemic went on, people started to understand more about the importance of getting the right diagnosis and treatment for COVID-19. So, the technology behind nuclear imaging got even better, and doctors started using it more often to help their patients. All of this kept the demand for nuclear imaging devices from crashing completely.
Nuclear Imaging Devices Market Trends
As chronic diseases become more common worldwide, they are a key factor in the growth of the nuclear imaging industry. More and more people are being diagnosed with diseases like heart disease, cancer, brain disorders, and diabetes. Accurately diagnosing and managing these conditions require high-tech tools. Nuclear imaging is a powerful way to diagnose, track the severity of, and monitor these diseases. It gives doctors valuable information about how organs and tissues are functioning and what's happening at a chemical level. As chronic diseases rise, so will the demand for nuclear imaging tools. Healthcare providers are also turning to tools like SPECT and PET scans to better understand how diseases are progressing, how patients are responding to treatment, and what the possible outcomes are.
Nuclear Imaging Devices Market Analysis
In the world of medical imaging, nuclear imaging devices are like special cameras that help doctors see what's going on inside our bodies. There are four main types of these devicesSPECT, PET, planar scintigraphy, and others. SPECT and PET are like cousins. SPECT uses a special kind of light to create images, while PET uses radioactive tracers. Both SPECT and PET can be used on their own or combined with CT scans, like adding extra details to a picture. SPECT is like the older sibling, and it's expected to grow faster than the others because it's getting a lot better at combining the information from SPECT and CT scans. This helps doctors find and understand problems in the body more accurately. And just like technology gets better over time, SPECT is using new ways to make images clearer, cut down on fuzziness, and give doctors more precise information.
The nuclear imaging devices market by application is segmented into oncology, cardiology, neurology, and others. The oncology segment was accounted for more than 49% market share in the year 2022. Increasing usage of positron emission tomography imaging for diagnosis, treatment planning, and response assessment of various cancers will fortify segment revenue size. Furthermore, advancements in image reconstruction algorithms and quantitative analysis techniques are enhancing the accuracy and reliability of oncologic imaging, aiding in treatment selection and personalized medicine approaches. With the rising incidence rate of cancer globally is poised to drive overall business growth.
Nuclear imaging devices market by end-use is subdivided into hospitals, diagnostic imaging centers, and others. The hospitals segment garnered notable market share and accounted for more than USD 1 billion revenue size in 2022. Integration of nuclear imaging devices within the hospital infrastructure to allow seamless workflow and streamlined patient care will accelerate the segmental growth potential. Hospitals are investing in advanced nuclear imaging systems such as SPECT and PET scanners to enhance their diagnostic capabilities and provide comprehensive imaging services is anticipated to boost product demand.
Additionally, growing emphasis on multidisciplinary collaboration within hospitals, where nuclear medicine departments work closely with other specialties such as oncology, cardiology, and neurology to facilitate integrated patient care. This collaborative approach ensures optimal utilization of nuclear imaging devices and enables more accurate diagnosis, treatment planning, and monitoring of patients is expected to bolster segmental growth potential.
The nuclear imaging industry in the U.S. is booming, reaching an impressive $950 million in 2022. And it's only set to grow, hitting a staggering $1,505 million by 2032. One major reason for this growth is the rising number of chronic diseases like heart problems, cancer, and brain disorders. These conditions require advanced imaging techniques like nuclear imaging for diagnosis and treatment. Technology is also playing a big role in driving growth. New hybrid imaging systems with improved picture quality are making nuclear imaging even more effective. Plus, telehealth and remote monitoring are making it easier for people to get the care they need from anywhere. The U.S. has always invested heavily in healthcare, and that spending is only increasing. As people get wealthier, they're more willing to spend on their health. All of these factors are fueling the rapid expansion of the nuclear imaging market in the U.S.
Nuclear Imaging Devices Market Share
Some of the notable key industry players operating in the nuclear imaging devices market include
- 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.
- Berthold Technologies GmbH & Co.KG
- Incom Inc.
- Koninklijke Philips N.V.
- GE Healthcare
- Siemens Healthineers AG
These market participants are implementing several growth strategies such as partnerships, collaborations, acquisitions & mergers, and new product development & launches to strengthen product offerings as well as gain a competitive edge over others. ss
Nuclear Imaging Devices Industry News
- In October 2022, GE Healthcare introduced Omni Legend, an innovative all-digital PET-CT system that offers higher sensitivity, faster procedural time, improved operational efficiency and enhanced patient outcome. This product launch offered competitive edge to the company in the nuclear imaging devices industry.
- In June 2022, Siemens Healthineers AG received clearance for its Symbia Pro.specta by the Food and Drug Administration. Symbia Pro.specta is an all-purpose SPECT/CT system with integration of advanced CT and SPECT imaging technologies. Such product approvals enhanced company’s operational capabilities as well as growth opportunities in the significant market.
Nuclear imaging devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments
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By Product Type
- Single Photon Emission Computed Tomography (SPECT)
- Standalone SPECT
- Hybrid SPECT/CT
- Positron Emission Tomography (PET)
- Standalone PET
- Hybrid PET/CT
- Planar Scintigraphy
- Others
By End-use
- Oncology
- Neurology
- Cardiology
- Others
By End User (USD Million)
- Hospitals
- Diagnostic Imaging Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Switzerland
- The Netherlands
- Poland
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- New Zealand
- Indonesia
- Thailand
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Iran
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