Middle East and Africa Nuclear Imaging Market Size Set to Expand at Steady CAGR of 2.68% during 2023–2029, Surpassing USD 334 Million by 2029

Published | 08 December 2023

Middle East and Africa Nuclear Imaging Market is flourishing because of the increasing focus on the treatment and management of growing prevalence of non-communicable diseases and rapid adoption of minimally invasive procedures.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Middle East and Africa Nuclear Imaging Market size at USD 285.3 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Middle East and Africa Nuclear Imaging Market size to grow at a steady CAGR of 2.68% reaching a value of USD 334.37 million by 2029. Major growth drivers for the Middle East and Africa Nuclear Imaging Market include an increasing prevalence of cancer and cardiac ailments. Nuclear medicine has proven highly effective in treating these diseases, with a notable impact on diagnosis, treatment planning, and treatment response assessment in cancer patients. Factors contributing to the rising cancer burden include an aging population, poor dietary habits, smoking, and physical inactivity. According to GLOBOCAN 2020, both Israel and Saudi Arabia reported a substantial number of new cancer cases. It, in turn, is expected to boost the demand for nuclear medicine imaging, particularly in the Middle East and African region. The magnetic resonance imaging market in this area is forecasted to witness healthy growth. Nuclear medicine's crucial role in diagnosing and managing various diseases is identified as a key growth factor for the market. Also, the Middle East and Africa Nuclear Imaging Market growth is fueled by the adoption of key strategies, such as collaborations and partnerships, by industry players. Hence, such aspects are expected to drive the growth of the Middle East and Africa Nuclear Imaging Market during the forecast period. However, high cost of nuclear imaging equipment and services and lack of skilled nuclear medicine are anticipated to restrain the overall market growth during the period in analysis.

Opportunity - Growing Demand for Hybrid Imaging Systems

Hybrid imaging systems, including PET-CT and SPECT-CT, are experiencing growing acceptance in the Middle East and Africa (MEA) region. The utilization of these systems is on the rise as they integrate functional data from nuclear imaging with anatomical details obtained from CT scans. This integration enhances diagnostic capabilities by providing a more comprehensive and detailed understanding of medical conditions. The increasing adoption of hybrid imaging reflects a trend toward advanced and integrated medical technologies, contributing to improved diagnostic accuracy and patient care in the Middle East and Africa healthcare landscape.

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Impact of COVID-19 on Middle East and Africa Nuclear Imaging Market

COVID-19 pandemic adversely affected the Middle East and Africa Nuclear Imaging Market as governments in the region implemented social distancing measures, resulting in a significant reduction in hospital and healthcare services. It had widespread economic implications globally, disrupting the regular functioning of general hospital treatment for non-COVID-19 patients. Despite these challenges, oncological PET studies exhibited a relatively smaller decline in utilization compared to standard nuclear medicine tests, as reported in the Seminar in Nuclear Medicine in June 2022. The pandemic caused a significant drop in nuclear medicine procedures in the Middle East in 2020, marked by disruptions in supply chains. However, the market has demonstrated recovery following the easing of restrictions, with recent years witnessing a resurgence fueled by disease prevalence, a demand for nuclear imaging diagnostics, and the introduction of new products.

Middle East and Africa Nuclear Imaging Market – By Application

By application, the Middle East and Africa Nuclear Imaging Market is split into SPECT Applications and PET Applications. The PET applications segment holds a higher share in the Middle East and Africa Nuclear Imaging Market by application. The PET applications is subdivided into Oncology, Cardiology, and Neurology. The oncology subsegment is expected to dominate the Middle East and Africa Nuclear Imaging Market. It is attributed to the increasing prevalence of cancers necessitating advanced diagnostics like PET/CT scans. According to Globocan 2020, Africa reported a 5-year prevalence of 2,166,740 cancer cases, with 1,298,101 cases in females and 868,639 cases in males. Saudi Arabia alone recorded 82,640 cases in 2020. FDG-PET/CT proves more sensitive than contrast-enhanced CT scans for staging lymphomas and detecting tumor dissemination in cancers like breast, lung, and colon cancer. Awareness campaigns, like the Ministry of Health's breast cancer screening initiative, contribute to increased demand for cancer diagnostics. Consequently, the oncology segment is expected for growth during the forecast period.

Middle East and Africa Nuclear Imaging Market – By Country

Regionally, the Middle East and Africa Nuclear Imaging Market is divided into Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and Rest of MEA. South Africa holds the highest share in the Middle East and Africa Nuclear Imaging Market. It is driven by the increasing prevalence of diseases and a growing geriatric population. Globocan 2020 estimates 175,102 new cancer cases in South Africa by 2040, indicating a rising demand for nuclear imaging in cancer detection and diagnosis. The expanding geriatric demographic, comprising 5.6% of the population aged 65 or older, is expected to contribute to the market's growth. The International Atomic Energy Agency is actively supporting African countries, including South Africa, in developing expertise and facilities for the local production of radiopharmaceuticals. These collaborative efforts and demographic trends position South Africa to exhibit substantial growth in the nuclear imaging market throughout the forecast period.

Competitive Landscape

Major players operating in the Middle East and Africa Nuclear Imaging Market include Siemens Healthineers, GE Healthcare, Philips Healthcare, Curium, Bracco Imaging, NTP Radioisotopes SOC Ltd, Lantheus Medical Imaging, Cardinal Health, Medtronic, and Fujifilm Healthcare. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Middle East and Africa Nuclear Imaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Middle East and Africa Nuclear Imaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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